External Fixators Market Size, Share & Trends Analysis Report By Product (Computer-aided, Manual), By Application (Fracture Fixation, Limb Correction), By End-user (ASCs, Hospitals), By Fixation Type, And Segment Forecasts, 2021 - 2028

Report Overview

The global external fixators market size was valued at USD 854.5 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.0% from 2021 to 2028. The growing burden of chronic diseases is boosting the need for surgical interventions, which is fueling the growth of the market. Moreover, the continuously rising target patient population along with rising cases of car accidents are promoting the market growth. With the first wave of the COVID-19 pandemic, many countries made the required decision to postpone all non-emergency surgical procedures to free up people and resources to care for COVID-19 patients. As stated by a new study circulated in the Annals of Surgery, the charge of halting major elective surgery all through the COVID-19 is projected to be USD 22.3 billion in the U.S.

Approximately 10 million individuals in the U.K. were waiting for surgical procedures in 2020, up from 4 million before the COVID-19 pandemic hit. Amongst them are almost 100,000 patients whose joint replacement surgeries were annulled all through the first COVID-19 movement. Therefore, in the coming years, it is estimated that the market will recover rapidly after the resumption of surgical procedures at full force.

The industry players also reported a decline in sales in the first two quarters of 2020 and then a gradual recovery afterward. For instance, Nuvasive reported a 70% case volume decline in 2020 Q2 from the prior year. Orthofix reported 6% revenue growth in 2020 Q3 from the last year. Clinics began offering online video appointments while some opened with limited operations, using screening protocols and curbside services, which are expected to propel the market growth gradually.

External Fixators Market: Impacted by the suspended, delayed elective surgeries due to COVID-19

There is an overall increase in the prevalence of chronic disorders, such as diabetes, which is also boosting the demand for external fixators. Throughout the world, it is estimated that every 30 seconds a leg is amputated and 85% of these amputations were the results of a diabetic foot ulcer. According to a 2019 study by the CDC, 27.7% of adults who have arthritis are obese and 33.7% of them are also diabetic. According to the American Diabetes Association, there was around a 64% increase in minor Nontraumatic Lower-Extremity Amputations (NLEA) and a 30% increase in major NLEAs, between 2009 & 2018. 

Product Insights

The computer-aided product segment held the largest revenue share of over 63% in 2020 owing to the increased usage of these products and technological advancements in this segment. The segment will expand further at the fastest CAGR from 2021 to 2028. These devices combine the principle of Ilizarov with computer software and are available in many types. Moreover, its advantages over manual devices, such as reduced infection rate and increased accuracy, are further boosting the segment growth.

Short surgery time, ease of hardware removal, elimination of fluoroscopy, and correction of the deformity without the need for second surgery are some of the other advantages of computer-aided fixators. Preoperative planning and assistant devices with depth measures are expected to decrease the surgery time, thus fueling the demand. On the contrary, the high cost and necessity to learn computer software may limit the segment growth in developing countries.

Fixation Type Insights

The circular fixation type segment held the largest revenue share of over 40% in 2020 and will expand further at the second-fastest CAGR from 2021 to 2028. The growth can be attributed to the minimally invasive application, modularity, and biomechanical characteristics of these devices. The popularity of these devices among orthopedic clinics and trauma centers is further boosting the segment growth. Industry players are also launching new products to increase their market share. For instance, in February 2020 AMDT Holdings Inc. launched a new SixFix Circular Fixation System for foot & ankle deformities.

The hybrid segment is expected to show the fastest growth rate over the forecast period. These devices are mostly used in the case of proximal tibia fractures. The advantages, such as less bleeding, shorter operative time, low risk of infection, and shorter hospital stays, of these devices are propelling their demand, thereby fueling the segment growth. In February 2020, Johnson & Johnson acquired Verb Surgical Inc. in a probe to develop data-driven digital capabilities to make medical procedures less invasive, more personalized, and smarter.

Application Insights

The fracture fixation application segment held the largest revenue share of over 40% in 2020. The segment will retain its leading position throughout the forecast period on account of the growing number of fracture-related injuries. According to a study by the Royal Society of Medicine, approximately 25% of the injuries were fracture-related in 2019. Moreover, the rising number of age-related fragility fractures is further boosting the segment growth.

The limb correction application segment is expected to register the fastest CAGR over the forecast period. Increased demand for limb reconstruction surgeries is the key factor propelling the segment growth. In addition, the availability of advanced treatment options with lesser risk and reduced surgery time is augmenting the segment growth. In March 2020, Orthofix Medical acquired assets of the FITBONE intramedullary lengthening system for limb lengthening of the tibia and femur bones to strengthen its position in the limb reconstruction application.

End-user Insights

The hospitals end-user segment held the largest revenue share of more than 50% in 2020 owing to the availability of advanced treatment options and a high number of patient footfall under these facilities. Moreover, favorable reimbursement policies and an increasing number of surgeries performed in hospitals are further boosting the segment’s revenue. The orthopedic & trauma centers end-user segment is expected to register the fastest CAGR over the forecast period.

This growth can be credited to an increase in the prevalence of chronic diseases and the number of sports injuries & trauma accidents. Thus, a rise in the number of patients visiting orthopedic clinics for the treatment of limb correction, fracture fixation, infected fracture, etc. will drive the orthopedic & trauma centers segment growth. Moreover, a significant rise in the number of such specialty clinics, as a result of growing patient preference for orthopedic clinicians, is expected to support the segment growth.

Regional Insights

North America led the global market with a revenue share of over 34% in 2020. The growth can be attributed to the high demand for innovative healthcare facilities due to the presence of well-developed healthcare infrastructure, business giants, and reimbursement coverage among others. As stated by the National Safety Council, exercise, with or without exercise equipment, reported for around 468,000 injuries in the U.S. in 2019, the maximum of any class of sports and recreation. Thus, the rising number of sports injuries supports market growth. Moreover, the increasing prevalence of diabetes in the country is further driving the market.

Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period owing to the rising spending in the healthcare sector, quickly evolving healthcare infrastructure and growing medical tourism in the region. Supportive government initiatives and a rise in the number of road accidents & diabetes-related amputations are also expected to drive the market growth. For instance, according to the Asian Diabetes Prevention Initiative, Asia has 60% of the world’s diabetic population.

Key Companies & Market Share Insights

The market is fragmented with the presence of many large- and small-scale industry players. Key players are adopting business strategies including regional expansions, diverse product offerings, collaborations & partnerships, and new product launches to gain a higher market share. For instance, in January 2021 Stryker acquired OrthoSensor, Inc., a frontrunner in the digital evolution for total joint replacement, to strengthen its market position. In August 2020, Smith+Nephew launched ARIA, a digital platform and application for connecting the delivery of patient care with providers, expanding the company’s offerings. Some of the prominent players in the global external fixators market include:

• Johnson & Johnson Services, Inc. (DePuy Synthes)

• Stryker

• Zimmer Biomet

• Smith+Nephew

• Orthofix Medical, Inc.

• Ortho-SUV Ltd.

• Response Ortho

• Tasarimmed Tıbbi Mamuller San. Tic A.Åž.

• Auxein Medical

• Acumed

External Fixators Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global external fixators market report on the basis of product, fixation type, end-user, application, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2028)

  • Manual

  • Computer-aided

• Fixation Type Outlook (Revenue, USD Million, 2016 - 2028)

  • Unilateral & Bilateral

  • Circular

  • Hybrid & Others

• End-user Outlook (Revenue, USD Million, 2016 - 2028)

  • Hospitals

  • Ambulatory Surgical Centers (ASCs)

  • Orthopedic and Trauma Centers

• Application Outlook (Revenue, USD Million, 2016 - 2028)

  • Orthopedic Deformities

  • Fracture Fixation

  • Infected Fracture

  • Limb Correction

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa

    • South Africa

    • Saudi Arabia