Global Internal Fixation Osteosynthesis Devices Market: Overview
Albany NY, United States: Osteosynthesis is a surgical procedure with an open or percutaneous approach to the fractured bone. There are two types of osteosynthesis devices: internal fixation devices and external fixation devices. The application of these devices is mainly based on the type of injury. External fixation devices are used to stabilize bone and soft tissues with minimum invasion. Internal fixation osteosynthesis devices involve surgical implementation of implants that aid in bone repair. The internal fixation osteosynthesis devices market is likely to expand significantly in the near future due to factors such as increased life expectancy, high prevalence of osteoporosis, and rise in cases of road accidents and sports injuries. Two types of materials are used to manufacture internal fixation osteosynthesis devices: degradable and non-degradable. Major factors driving the internal fixation osteosynthesis devices market are increase in demand for better facilities in orthopedic surgeries, rise in prevalence of osteoporosis, and increase in investments by governments and multinational companies. According to the International Osteoporosis Foundation, about 8.9 million fractures per year across the world are caused due to osteoporosis, resulting in an osteoporotic fracture every few seconds. Factors restraining the expansion of the internal fixation osteosynthesis devices market are lack of awareness, high cost of surgery, and absence of health insurance in developing countries.
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Global Internal Fixation Osteosynthesis Devices Market: Drivers and Restraints
Internal fixation osteosynthesis devices ensure that the bones remain in the correct position during and after the healing process. During the surgical procedure, bone fragments are repositioned into the ideal position and are then held together with internal fixation osteosynthesis devices such as screws and plates, wires and pins, intramedullary rods, and nails depending on the site of fixation. These devices are primarily made of titanium, stainless steel, and cobalt and chrome alloys, with titanium being the most preferred material due to its elasticity and durability. However, biodegradable implants made of polymers, calcium phosphate ceramics, glass, iron, and magnesium and its alloys are gaining popularity due to their superior bio-compatibility and workability.
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Global Internal Fixation Osteosynthesis Devices Market: Key Segments
The global internal fixation osteosynthesis devices market can be segmented based on type and geography. In terms of type, the internal fixation osteosynthesis devices market can be divided into screws and plates, wires and pins, intramedullary rods and nails, and spinal fixation devices. Screws are the most ubiquitous internal fixation osteosynthesis devices that can be used individually or with other fixation devices. Plates are like internal splints that hold the broken bone pieces together and are attached with the help of screws. Osteosynthesis wires and pins are either threaded or unthreaded and can be placed either individually or with screws. They act like a biomechanical judo to stabilize and hold the fractured bones together.
Based on geography, the global internal fixation osteosynthesis devices market can be classified into five major regions: North America, Europe, Asia Pacific, Latin America, and Rest of the World. North America holds a dominant share of the global internal fixation osteosynthesis devices market. The region is projected to continue its dominance during the forecast period due a rise in the number of injuries and increase in awareness among people about various types of osteosynthesis devices. The internal fixation osteosynthesis devices market in Asia Pacific is primarily driven by a large population, increase in disposable income, and rise in patient awareness.
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Global Internal Fixation Osteosynthesis Devices Market: Key Players
Key players operating in the global internal fixation osteosynthesis devices market include B. Braun Melsungen AG, DePuy Synthes, Inc. (J & J Company), Globus Medical Inc., and GS Medical, LLC.
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