The Osteosynthesis Devices Market was valued at $9,061.20 million in 2021 and is estimated to reach $14,214.92 million by 2031, exhibiting a CAGR of 4.6% from 2022 to 2031. Osteosynthesis devices are medical implants used to stabilize or fuse bones that have been fractured or damaged. The goal of osteosynthesis is to achieve rapid healing and restoration of normal bone function. There are different types of osteosynthesis devices, including plates, screws, pins, and intramedullary nails, which can be used alone or in combination to stabilize the bones. These devices are usually made of metal, such as stainless steel or titanium, and are designed to be strong, durable, and biocompatible. In addition to stabilizing the bones, osteosynthesis devices may also be used to correct deformities or to provide support during the healing process. The specific type of device used depends on the location and nature of the fracture, as well as the age, medical history, and other factors of the patient.
Major factors that drive the growth of the market include a rise in technological advancement in osteosynthesis devices, a rise in the prevalence of orthopedic disorders such as osteoarthritis and osteoporosis that are more prone to fracture, as well a rise in the awareness of the potential benefits of orthopedic implants drives the growth of the osteosynthesis devices market. For instance, according to Verywell Health and National Centre for biotechnology information (NCBI), in 2020, about 1.5 million people in the U.S. were living with rheumatoid arthritis. According to National Centre for biotechnology information (NCBI), in 2022, 294,000 children in the U.S. were suffering from juvenile idiopathic arthritis. By 2025, 67 million Americans are expected to be diagnosed with arthritis.
Furthermore, the rise in the adoption of osteosynthesis devices, and the rise in the number of accidents & sports injuries that causes fracture has led to an increase in demand for osteosynthesis devices such as screws & plates, external fracture fixation devices, which further boost the growth of the osteosynthesis devices market. For instance, a report published by the National Safety Council of the U.S. in 2022 stated that in 2021, 20% rise in sports and recreational injuries was observed as compared to 2020, thus a rise in the number of sport-related injuries is expected to drive the growth of the market.
However, the high costs of osteosynthesis devices, health risks and complications associated with osteosynthesis devices are expected to hamper the osteosynthesis devices market growth. On the contrary, unmet medical demands in developing countries and lucrative opportunities in emerging economies are expected to create immense opportunities for osteosynthesis device product manufacturers in the future.
The osteosynthesis devices market is segmented on the basis of device type, fracture type, end user, and region. On the basis of device type, the market is classified into internal fixation devices and external fixation devices. The internal fixation device segment is further divided into screws & plates, wires & pins, intramedullary rods & nails, and spinal fixation devices. The external fixation device segment is further divided into fracture fixation devices and bone lengthening devices. On the basis of fracture type, the market is classified into hip, knee, spine, shoulder, foot & ankle, facial bones, and others. On the basis of end users, the market is classified into hospitals, orthopedic clinics, and ambulatory surgical centers.
Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major players profiled in the report are Arthrex, Inc., Johnson & Johnson (DePuy Synthes, Inc.), Globus Medical, Inc., GS Solutions, Inc., Life Spine, Inc., Medtronic plc, Precision Spine, Inc, Smith & Nephew, Stryker Corporation, and Zimmer Biomet Inc.
Major factors that drive the growth of the market include a rise in technological advancement in osteosynthesis devices, a rise in the prevalence of orthopedic disorders such as osteoarthritis and osteoporosis that are more prone to fracture, as well a rise in the awareness of the potential benefits of orthopedic implants drives the growth of the osteosynthesis devices market. For instance, according to Verywell Health and National Centre for biotechnology information (NCBI), in 2020, about 1.5 million people in the U.S. were living with rheumatoid arthritis. According to National Centre for biotechnology information (NCBI), in 2022, 294,000 children in the U.S. were suffering from juvenile idiopathic arthritis. By 2025, 67 million Americans are expected to be diagnosed with arthritis.
Furthermore, the rise in the adoption of osteosynthesis devices, and the rise in the number of accidents & sports injuries that causes fracture has led to an increase in demand for osteosynthesis devices such as screws & plates, external fracture fixation devices, which further boost the growth of the osteosynthesis devices market. For instance, a report published by the National Safety Council of the U.S. in 2022 stated that in 2021, 20% rise in sports and recreational injuries was observed as compared to 2020, thus a rise in the number of sport-related injuries is expected to drive the growth of the market.
However, the high costs of osteosynthesis devices, health risks and complications associated with osteosynthesis devices are expected to hamper the osteosynthesis devices market growth. On the contrary, unmet medical demands in developing countries and lucrative opportunities in emerging economies are expected to create immense opportunities for osteosynthesis device product manufacturers in the future.
The osteosynthesis devices market is segmented on the basis of device type, fracture type, end user, and region. On the basis of device type, the market is classified into internal fixation devices and external fixation devices. The internal fixation device segment is further divided into screws & plates, wires & pins, intramedullary rods & nails, and spinal fixation devices. The external fixation device segment is further divided into fracture fixation devices and bone lengthening devices. On the basis of fracture type, the market is classified into hip, knee, spine, shoulder, foot & ankle, facial bones, and others. On the basis of end users, the market is classified into hospitals, orthopedic clinics, and ambulatory surgical centers.
Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major players profiled in the report are Arthrex, Inc., Johnson & Johnson (DePuy Synthes, Inc.), Globus Medical, Inc., GS Solutions, Inc., Life Spine, Inc., Medtronic plc, Precision Spine, Inc, Smith & Nephew, Stryker Corporation, and Zimmer Biomet Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the osteosynthesis devices market analysis from 2021 to 2031 to identify the prevailing osteosynthesis devices market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the osteosynthesis devices market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global osteosynthesis devices market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Device Type
- External Fixation Devices
- Type
- Fracture Fixation Devices
- Bone Lengthening Devices
- Internal Fixation Devices
- Type
- Screws and Plates
- Wires and Pins
- Intramedullary Rods and Nails
- Spinal Fixation Devices
By Fracture Type
- Hip Fracture
- Knee Fracture
- Spine Fracture
- Shoulder Fracture
- Foot and Ankle Fracture
- Facial bones Fracture
- Others
By End User
- Hospitals
- Orthopaedic Clinics
- Ambulatory surgical Centers
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Arthrex, Inc.
- Globus Medical, Inc.
- Johnson & Johnson
- Stryker Corporation
- Life Spine, Inc.
- Precision Spine, Inc.
- GS Solutions, Inc.
- Medtronic plc
- Smith & Nephew plc
- Zimmer Biomet Holding Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: OSTEOSYNTHESIS DEVICES MARKET, BY DEVICE TYPE
CHAPTER 5: OSTEOSYNTHESIS DEVICES MARKET, BY FRACTURE TYPE
CHAPTER 6: OSTEOSYNTHESIS DEVICES MARKET, BY END USER
CHAPTER 7: OSTEOSYNTHESIS DEVICES MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Osteosynthesis Devices Market," the osteosynthesis devices market was valued at $9,061.20 million in 2021 and is estimated to reach $14,214.92 million by 2031, growing at a CAGR of 4.6% from 2022 to 2031. Osteosynthesis devices are medical implants used to stabilize and support bone fractures. These devices can be used to treat a variety of bone fractures, including those in the arms, legs, and spine. These devices are typically made of metal or composite material and are designed to hold fractured bone segments in place while they heal.Key factors driving the growth of the osteosynthesis devices market include a rise in the number of road accidents and sports injuries and a rise in the geriatric population who are more vulnerable to fracture due to less formation of bone cells. In addition, Osteoporosis is a disease in which bones become very weak and are more likely to break. Thus, the rise in the prevalence of orthopedic disorders such as arthritis and osteoporosis drives the growth of the osteosynthesis devices market. Moreover, the surge in acceptance of medical devices, government activities to raise awareness about osteosynthesis device, and the high use of osteosynthesis devices drives the growth of the osteosynthesis devices market.
The market also offers growth opportunities to the key players in the market including a rise in the launch of novel osteosynthesis devices. For instance, in June 2021, Johnson & Johnson (DePuy Synthes), a healthcare company announced the launch of 2.7 mm Variable Angle Locking Compression Plate (VA LCP) Clavicle Plate Systems for the treatment of lateral, shaft, and medial fractures for small, medium and large clavicles. This new system offers plate shapes that reflect the correlation between patient stature and clavicle size to match the bow and contour of the clavicle and accommodate a broad range of anatomic variability of the clavicle.
In addition, the rise in awareness regarding the potential benefits of orthopedic implants, and a rise in demand for osteosynthesis devices across the globe are expected to provide lucrative opportunities for the growth of the market during the forecast period. The key players engaged in the medical devices industry have invested in R&D for the discovery of new osteosynthesis devices that are expected to gain high traction and provide lucrative opportunities for the growth of the osteosynthesis devices market.
The osteosynthesis devices market is segmented on the basis of device type, fracture type, end user, and region. On the basis of device type, the market is classified into internal fixation devices and external fixation devices. The internal fixation device segment is further divided into screws & plates, wires & pins, intramedullary rods & nails, and spinal fixation devices. The external fixation device segment is further divided into fracture fixation devices and bone lengthening devices.
On the basis of fracture type, the market is classified into hip, knee, spine, shoulder, foot & ankle, facial bones, and others. On the basis of end users, the market is classified into hospitals, orthopedic clinics, and ambulatory surgical centers. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The key players profiled in the study include Arthrex, Inc., Johnson & Johnson (DePuy Synthes, Inc.), Globus Medical, Inc., GS Solutions, Inc., Life Spine, Inc., Medtronic plc, Precision Spine, Inc, Smith & Nephew, Stryker Corporation, and Zimmer Biomet Inc. The players in the market have been actively engaged in the adoption of various strategies such as agreement, product development, product launch, and product approval to remain competitive and gain an advantage over the competitors in the market.
For instance, in December 2020, Globus Medical, Inc., a leading musculoskeletal solutions company, received an award for a group purchasing agreement with Premier, one of the largest group purchasing organizations in the U.S. The agreement covers Globus’ Trauma Platform, which includes ANTHEM Plating, AUTOBAHN Nailing, ARBOR External Fixation, and CAPTIVATE Screw Platforms.
Key Market Insights
- By device type, the internal fixation device segment was the highest revenue contributor to the market in 2021 and is estimated to reach $10,324.48 million by 2031. The same segment is expected to be the fastest-growing segment with a CAGR of 4.9% during the forecast period.
- By fracture type, the hip segment was the highest revenue contributor to the market in 2021. The same segment is expected to witness the highest CAGR of 5.5%.
- Based on end users, the hospital segment was the highest revenue contributor to the market in 2021. However, the same segment is estimated to be the fastest-growing segment during the forecast period.
- Based on region, North America accounted for a major share of the osteosynthesis devices market in 2021 and is expected to maintain its dominance during the forecast period. Asia-Pacific is expected to witness the highest CAGR of 5.9% during the forecast period.
Companies Mentioned
- Arthrex, Inc.
- Globus Medical, Inc.
- Johnson & Johnson
- Stryker Corporation
- Life Spine, Inc.
- Precision Spine, Inc.
- GS Solutions, Inc.
- Medtronic plc
- Smith & Nephew plc
- Zimmer Biomet Holding Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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