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Bone Fixation Devices Market Segmented By Product Type that is Internal Fixation Devices, External Fixation Devices, also by material type that is Stainless-steel, Titanium, and by Patient Anatomy Type Upper Extremity, Lower Extremity.
Strong growth of traditional compatible materials like stainless steel and titanium used in different internal fixation devices, which shows strong and durable character, fixed choices of different materials like cobalt and chromium is also available in particular products.
Internal fixation devices provides a shorter hospital stay according to its procedure, also reduces the incidence of nonunion and malunion which are forms of improper healing of broken bones which promotes the acceptance of bone internal fixation devices.
While some attention has focused on the prospect that cancer could develop near a long-term implant, there is little indication documenting the risk but with much probability. Further, the continuous growing orthopedic market, rising geriatric population, increasing public awareness and continuous R&D also supports the market.
Various key developments such as product advancements and launches, mergers and acquisitions by the bone fixation devices manufacturers are fuelling the growth of bone fixation devices market. However, stringent regulations may obstruct the growth of bone fixation market. In addition, high cost of certain bone fracture surgeries and inadequate reimbursement policies for bone fixation may also hamper the growth of global bone fixation devices market.
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The bone fixation devices market is filled with novel materials claiming their properties to process treatment of bone fractures.
Geographically, the market for Bone Void Fillers can be segmented into six regions - North America, Latin America, Europe, Asia Pacific excluding China, Middle East & Africa and China. North America dominates the global bone fixation devices market owing to the advanced bone fixation procedures in the region and favorable reimbursement scenario.
Europe represents the next leading market with Germany, Italy, U.K. and France holding the major share of bone fixation devices market. However, Asia-Pacific is expected to represent a high growth rate in the coming years due to the increasing public awareness, improving access to healthcare facilities and rising healthcare infrastructure with rise in population observed there’s a greater probable chance for traumatic cases.
MEA represents the least market share globally in the bone fixation devices market and is projected to observe change due to healthcare advancements. China holds a major share of domestic players which restricts the market from growing globally, but provides a fair forecast share in coming years.
Some major key players of bone fixation devices market include Zimmer Biomet, Medtronic, Arthrex Inc., DePuy Synthes, Stryker, Atlantic Surgical, Treu Instrumente, Orthofix, Integra Life Science, Bonesupport AB, Osteomed, Wright Medical and others.