Osteosynthesis Devices Market Expected to Reach $14,214.92 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Osteosynthesis Devices Market," The Osteosynthesis Devices Market Size 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 is the reduction and internal fixation of a bone fracture with an implant that is usually made of metal. The goal of osteosynthesis is to stabilize and join the ends of a broken bone after a fracture. Bone fragments are stabilized by using mechanical devices.

These mechanical devices are known as osteosynthesis devices. This osteosynthesis device allows for complete or partial healing of the muscles and joint function. Once the bone fragments are stable, the osteosynthesis device can either be removed or left in. If the procedure consists of an internal fixation, then the osteosynthesis device can be left inside the body and if the procedure consists of an external fixation, then the osteosynthesis device can be removed. The surgical procedure is performed by employing an open or percutaneous approach to the fractured bone.  

In addition, osteosynthesis devices are mainly used to treat fractures of the hip, knee, spine, shoulder, foot & ankle, and to support the growth of bone. Overall, osteosynthesis devices play an important role in helping patients recover from bone fractures and injuries and return to their normal activities.  

The Osteosynthesis Devices Market Trends are an increase in the number of road accidents, and sports injuries that further cause bone fractures, and a rise in the prevalence of osteoarthritis and osteoporosis which are more vulnerable to fracture. For instance, according to Factretriever in 2019, it was estimated that about 40 million people in the U.S. either already have osteoporosis or are at high risk for developing osteoporosis due to low bone mass. 

In addition, the improvement of healthcare infrastructure in emerging countries, as well as a rapid increase in the aging population globally who are more prone to fracture due to a decline in muscle mass, strength, and function are the key factors that further drive the growth of the Osteosynthesis Devices Market Size in the forecast period.

For instance, according to the article “Falls and Fractures in Older Adults” of the National Institute on Aging (NIA), falling of a person could break a bone, which is more prevalent in older adults and more than one in four people aged 65 years or older fall each year. Hence, the rise in the geriatric population drives the growth of the market.

In addition, an increase in research activities, technological innovations in the osteosynthesis devices industry, acceptance of implantable medical devices, and a rise in the use of osteosynthesis devices further drive the growth of the Osteosynthesis Devices Industry in developing countries such as India and China. This is anticipated to offer remunerative opportunities for key players to invest in the Osteosynthesis Devices Industry during the forecast period. 

Moreover, a rise in R&D investments, a significant increase in capital income in developed countries, and a rise in key strategies including product launch, collaboration, merger, acquisition, and agreement, adopted by key players, drive the growth of the osteosynthesis devices market.

For instance, in June 2021, Johnson & Johnson (DePuy Synthes), a healthcare company announced the launch of a 2.7 mm Variable Angle Locking Compression Plate (VA LCP) Clavicle Plate System 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. 

The Osteosynthesis Devices Market Analysis is done 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).

On the basis of device type, the internal fixation device segment generated maximum revenue in 2021 and is expected to remain dominant in the Osteosynthesis Devices Market Forecast period, owing to the high adoption of internal fixation devices and the availability of various internal fixation devices such as screws and plates.

The internal fixtation segment is expected to witness the highest CAGR during the forecast period, owing to an increase in the use of internal fixation devices such as screws & plates, wires & pins, intramedullary rods & nails, and a rise in the prevalence of osteoporosis disease that further led to the fracture.  

By fracture type, the hip segment generated the maximum Osteosynthesis Devices Market Share in 2021, owing to the high demand for osteosynthesis devices for the treatment of hip fractures. The same segment is expected to witness the highest CAGR during the forecast period, owing to a rise in the population and a rise in the prevalence of hip fractures across the world. 

By end user, the hospital segment generated the maximum Osteosynthesis Devices Market Share in 2021, owing to an increase in health coverage for hospital-based treatment, an increase in hospital admission, and a higher preference for hospitals. The same segment is expected to witness the highest CAGR during the forecast period, owing to a rise in the prevalence of foot, ankle, and knee fractures across the world is the key factor that drives the growth of the market. 

Depending on the region, North America generated maximum revenue in 2021, owing to the strong presence of key players, robust healthcare infrastructure, and availability of approved osteosynthesis devices with higher adoption of osteosynthesis devices. Asia-Pacific witnessed the highest growth in 2021 and is expected to witness the highest CAGR, owing to an increase in population, the surge in healthcare expenditure, and a rise in awareness related to osteosynthesis devices.  

Key findings of the study 

• On the basis of device type, the internal fixation device segment held the largest share in the osteosynthesis devices market in 2021. 

• By fracture type, the hip segment held the largest share in the osteosynthesis devices market in 2021. 

• By end user, the hospital segment held the largest share in the osteosynthesis devices market in 2021. 

• On the basis of region, North America held the largest market share in 2021.