Osteosynthesis is a surgical procedure which helps in reducing the bone fracture and assist in fixing the bone fracture with implantable medical devices. Osteosynthesis procedures are open or percutaneous procedures, performed majorly using devices made up of metals. Osteosynthetic products works by bringing the fractured bones together and arrest the damaged site while healing occurs. Osteosynthesis devices heals the fracture by the natural process called intramembranous ossification. Osteosynthesis devices including screws, fracture plates and staples are generally considered single-use devices. Osteosynthesis products are available in the market are majorly two types such as load bearing and load sharing. Load bearing products works by bearing the force of fractures while load sharing devices works by joining the bone ends and holds the fracture site immovable.
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The market for osteosynthesis products are expected to grow at significant rate owing to rising geriatric population who are vulnerable to bone fracture, rising demand for minimally invasive surgeries which improves the healing process, and rising incidence of bone fractures across the globe expected to drive the osteosynthesis products market over the forecast period. Moreover, apart from aforementioned factors, increasing device technology or material advancements, shifting from conventional method of fracture treatment and increasing incidence of road traffic injuries expected to fuel the market revenue growth for osteosynthesis products market over the forecast period. However, complications associated with use of osteosynthesis products, non-adherence to the surgery protocol and lower success rate of osteosynthesis devices in healing fractures expected to hamper the revenue growth of osteosynthesis products market over the forecast period.
Osteosynthesis products market has been segmented on the basis of product type, material type, end user, and region
Based on the product type, the osteosynthesis products market is segmented into the following:
- Internal Fixation Devices
- Screws and Plates
- Wires and pins
- Intramedullary rods and nails
- Spinal fixation devices
- Internal Fixation Devices
- Fracture fixation
- Bone lengthening
Based on the material type, the osteosynthesis products market is segmented into the following:
- Degradable Materials
- Nondegradable Materials
Based on end user, the osteosynthesis products market is segmented into the following:
- Orthopedic Clinics
- Ambulatory Surgical Centers
Osteosynthesis products market is consolidated as few players are operating in the market place. Players in the osteosynthesis market working to create awareness regarding usage of devices among healthcare professionals and patients. Moreover these players focusing to develop prospect customer relationship and widening the access to these devices to boost revenue growth. Material sub-segment such as degradable material containing devices expected to grow at significant rate in comparison with nondegradable based devices owing complications associated with use of nondegradable metal devices over the forecast period
Geographically, osteosynthesis products market is segmented into regions viz. North America, Latin America, Europe, Asia Pacific and Japan, Middle East and Africa. North America and Europe regions are expected to garner larger market revenue share over the forecast period owing to presence of key players in the regions and favourable reimbursement policies which are expected to propel the demand for osteosynthesis products during the forecast period in the above mentioned region. Developing markets in Europe and Asia Pacific region expected grow at lower growth rate owing to lack of reimbursement and dearth of skilled healthcare professionals to perform these surgical procedures.
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The players in osteosynthesis products market include Smith & Nephew plc., DePuy Synthes, Inc., Stryker, Zimmer-Biomet, Aesculap Implant Systems to name a few.