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The global fracture fixation products market is growing significantly due to increasing incidence of fractures associated with osteoporosis and osteoarthritis, increasing government funding and grants, and technological advancement in the fixation products in the industry. Increasing demand for better healthcare facilities in fractures and increasing research related activities and conferences are also supporting the growth of the market. Massive unexplored market in fracture fixation products industry of developing economies are creating ample opportunities for the fracture fixation products market to grow at a considerable rate in the forecasted period.
Moreover, the advanced research and development facilities, and new and innovative product developments by the companies are also propelling the growth of the fracture fixation products industry. Fracture fixation products are used to restore skeletal movement to its optimal function, to reduce soft tissue complications, and for speedy healing. Rising number of mergers, acquisition, collaboration and partnerships in fracture fixation products companies, and shifting of market from metallic to bioabsorable fixators are some of the major trends of the global fracture fixation products market. Bioabsorable fixators are ultra-high strength implants made of polymers, such as polyglycolic acid polymers, for stabilization of fracture, bone grafts and fusions. It also reduces the risk of implant associated stress shielding, and need for removal operation is prevail over.
On the basis of type of fracture fixation products, the market can be categorized as external fixation products, and internal fixation products. Internal fixation products lead the fracture fixation products market in terms of market size. Internal fixation products are further segmented as plates and screw systems, intramedullary nails and others. Based on composition of fixation products, the market can be segmented as metallic fixators, bioabsorable fixators, and others. Bioabsorable fixators are expected to grow with the fastest rate in the coming years, due to increasing focus of companies towards the bioabsorable fixators.
Some of the factors driving the growth of global fracture fixation products market are rise in aging population, increasing prevalence of lifestyle associated diseases, rise in healthcare expenditure, and increasing incidence of fractures. In addition, increasing participation in sports, increasing number of road accidents, and increasing healthcare awareness are also fueling the growth of the global fracture fixation products market. However, high cost of surgery, immunological and inflammatory reaction, and lack of reimbursement in the emerging economies are some of the factors restraining the growth of the global fracture fixation products market.
Geographically, North America will be leading the global fracture fixation products market in the coming years, due to rise in geriatric population, increasing government investment, and increasing prevalence of osteoporotic fractures. Asia-Pacific is the fastest growing region in the global fracture fixation products market. The major reasons for the fastest growth of fracture fixation products market in the region are increasing healthcare expenditure, improving healthcare infrastructure, large pool of patients, and increasing prevalence of lifestyle associated diseases, in the region. Moreover, the fracture fixation products market is growing due to increasing awareness of healthcare in the emerging countries, such as India and China, of Asia-Pacific region.
Some of the companies operating in the global fracture fixation products market are Zimmer Holdings, Inc., Biomet, Inc., Stryker Corporation, Smith and Nephew, Plc, Orthofix Holding, Inc., Wright Medical Group, Inc., Synthes, Inc., Arthrex, Inc., Medtronic, Inc., Integrated LifeSciences Holdings Corporation, B. Braun Melsungen AG, Tornier, Inc., and Johnson & Johnson.