Osteosynthesis Devices Market Size, Share & Trends Analysis Report By Type (Internal, External), By Material, By Fracture Type (Skull, Facial Bones), By Region, And Segment Forecasts, 2023 - 2030

Report Overview 

The global osteosynthesis devices market size is valued at USD 9.23 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 8.2% from 2023 to 2030. The market will continue to benefit from positive population trends, ongoing product innovation, more physician expertise, improved value-based payment models, and site-of-service flexibility. For instance, there have recently been a lot of changes to the financial structure for osteosynthesis device treatment, particularly in terms of site-of-service pricing. Injuries sustained by drivers, and passengers in automobile accidents will also increase the demand for treatments involving osteosynthesis devices. Additionally, injuries from motorcycle accidents will have an effect on the market as more people use motorcycles as their primary mode of transportation due to their low cost. For instance, according to a study published in 2019 in the journal of Orthopaedic Trauma Association (OTA), research carried out in Brazil showed that around 28% of fatal occurrences involved motorcycles.

The economic downturns of the COVID-19 breakout and the Russia-Ukraine war have raised concerns about a global economic slowdown and, ultimately, a recession. As a result, there will be restrictions on the future utilization of resources for all company activities as well as the current MNC's cash flow. Companies may, however, intend to continue the launch of new products, and acquisitions of smaller firms that are creating revolutionary technology until the problem have been rectified. Furthermore, some significant acquisitions have already been made during COVID-19, as seen in the table below, despite the economic instability -

Few Notable Acquisitions in “2020” 

Over the coming years, acquisitions similar to the ones stated in table 1 could help the company strengthen and sustain its position in the osteosynthesis device market.

Type Insights

Being the most widely used surgical technique globally, internal fixation equipment accounted for a large revenue share of over 75.2% in 2022. For fixing fractures, metal plates, screws, and nails are the most often utilized internal fixation devices. These pieces of apparatus assist in stabilizing and supporting the shattered bone while holding it together. 

External fixators are typically used to build a supporting framework for the broken bone when internal fixation cannot be done as the primary form of therapy. The increasing demand for external fixation osteosynthesis devices is being maintained by the rising popularity of minimally invasive surgery, which also continues to attract new players, including overseas rivals. For instance, in January 2019, the Japanese firm KYOCERA Medical extended its US operations by purchasing Renovis Surgical, a producer of tools including external fixators and cannulated screws used to treat severe fractures of the foot and ankle. 

Material Insights

In 2022, the non-degradable material products segment represented the largest revenue share of 81.8% of the market. Companies that are developing solutions for the expanding anatomic plate and screw sectors, particularly for less prevalent indications, are boosting the market segment. For example, Smith & Nephew introduced its EVOS WRIST anatomic plating system in the US in 2019. Titanium and stainless steel plates are offered by EVOS WRIST for a range of anatomies, including the forearm, volar, and dorsal. 

Along with various plates, there are various angle-locking mechanisms. Stainless steel volar plates are used in conjunction with variable-angle locking technology to maximize the flexibility of screw positioning. Longer plates with fixed-angle locking are also an option for extra-articular fractures. The adoption of such a cutting-edge method will help the manufacturer stand out globally and boost sales throughout the duration of the forecast period. 

Fracture Type Insights

The Patella, tibia or fibula, or ankle segment dominated the market and accounted for the largest revenue share of 21.4% in 2022. Due to the increasing number of companies launching new products and making acquisitions in this market, the lower extremities, together with the hip and pelvis, represent the majority of market shares in 2022. For instance, Stryker expanded its product line and strengthened its market dominance by acquiring Wright Medical Group in November 2020.

This was an ideal time for acquisition for Wright Medical Group since it had just sold off many of its underperforming business divisions, such as its joint replacement line, saving costs for it to strategically focus on markets where the majority of the rivals had a variety of problems. 

Regional Insights

North America dominated the market and accounted for the largest revenue share of 52.6% in 2022, owing to significant government efforts, new product releases, and substantial R&D expenditures. Increasing healthcare expenditures and the concentration of the major orthopedic device market in the U.S. make it the most financially advantageous and the largest market for osteosynthesis equipment, accounting for over 90% of the market share in North America.

Asia Pacific, on the other hand, is anticipated to increase at the quickest rate throughout the forecast period. The orthopedic industries in China, India, and Japan are expanding rapidly, with Japan providing over 34% of the region's orthopedic products. In both China and India, the orthopedic market is expanding at attractive rates of 24% and 15%, respectively. In addition, the major medical device companies with headquarters in the U.S. and Europe control a sizeable portion of the overall orthopedic markets in Japan, China, India, and other Asian nations. 

Key Companies & Market Share Insights 

Companies utilize tactics including technological advancements, the introduction of new products, and acquisition to sustain competitiveness and increase market penetration. For instance, Exactech purchased EPIC Extremity in March 2019. As a result of the acquisition, the company will be able to provide a whole line of ankle reconstructing devices, effectively placing it to meet market expectations.

Moreover, some companies are placing less emphasis on the less lucrative, more competitive segments of the market. For instance, in July 2019, the German organization aap Implante stated plans to stop operating its standard trauma business, which includes the company's brand of standard plates and screws, and instead focus on its line of the cannulated screw, LOQTEQ plating systems, and greater anatomic plates and screws. Some of the prominent players in the osteosynthesis devices market include:

• DePuy Synthes, Inc. (J & J Company)

• Stryker

• Zimmer Biomet Inc.

• Smith & Nephew

• GS Medical LLC

• Life Spine, Inc.

• MicroPort Orthopedics, Inc

• Precision Spine, Inc

• Globus Medical, Inc.

• Arthrex

• Medtronic

• Olympus Corporation

• Lepu Medical Technology(Beijing)Co.,Ltd. 

Osteosynthesis Devices Market Report Scope

Global Osteosynthesis Devices Market Segmentation

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 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global osteosynthesis devices market based on type, material, fracture type, and region:

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Internal Devices

    • Screws & Plates

    • Wires & pins

    • Intramedullary rods and nails

    • Spinal fixation devices

  • External Devices

    • Fracture fixation

    • Bone lengthening

• Material Outlook (Revenue, USD Million, 2018 - 2030)

  • Degradable

  • Nondegradable

• Fracture Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Skull

  • Facial bones

  • Sternum or one or more ribs, or both

  • Clavicle, scapula, or humerus

  • Radius or ulna, or both

  • Hand, wrist, or other distal part of hand

  • Vertebral column

  • Pelvis

  • Hip

  • Femur, other than femoral neck

  • Patella, tibia or fibula, or ankle

  • Foot bones except ankle

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • MEA

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait