Technavio analyzes that the Osteosynthesis Devices Market is expected to grow at a CAGR of 8.91% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 5.75 billion.There are various factors that contribute to the growth of the market. The global aging population is experiencing a significant growth, leading to an increased demand for osteosynthesis devices. These devices, used for the surgical treatment of fractures and bone defects, are essential in managing the health needs of the elderly population. The market for osteosynthesis devices is expected to expand due to this demographic trend, driven by the rising prevalence of bone-related disorders and the advancement of technological innovations in the field.
Osteosynthesis devices are essential medical implants or instruments employed in orthopedic surgery to ensure the stability and restoration of bone fractures or orthopedic conditions. These devices offer mechanical support and preserve the correct alignment of fractured or surgically treated bones, fostering an optimal healing environment. Internal fixation devices, including metal plates, screws, and intramedullary nails, offer increased stability to fractured bones. They maintain alignment and minimize movement at the fracture site, thereby reducing the risk of malunion or nonunion. Through the provision of compression at the fracture site, these devices facilitate the natural bone regeneration process, potentially leading to expedited and robust healing. Minimally invasive surgical procedures, such as the use of cannulated screws, further enhance the efficacy of osteosynthesis devices by minimizing trauma to surrounding tissues.
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Osteosynthesis Devices Market Segmentation
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The Osteosynthesis Devices Market encompasses orthopedic implants like metal plates, screws, nails, and intramedullary rods, as well as prosthetics and tools. These devices are utilized in orthopedic biomedicine for various applications such as fracture repair using cortical cancellous screws, fusion in the hip, knee, spine, shoulder, foot & ankle, and for skull and facial bone injuries. The market offers both degradable and non-degradable options, including metal implants, cannulated screws, titanium plates, stainless steel plates, and external fixators. Minimally invasive surgery techniques are also driving market growth.
The global osteosynthesis devices market is a significant segment of the expansive healthcare equipment industry. This sector encompasses orthopedic implants such as cortical cancellous screws, fusion devices, hip systems, and associated tools. Technavio, a leading technology research firm, positions the osteosynthesis devices market within the larger healthcare equipment market, which covers manufacturers involved in the research and development (R&D) of capital equipment, instruments, implants, accessories, and consumables used in disease diagnosis, monitoring, and treatment. The healthcare equipment market's size is determined by the combined revenues of diagnostic equipment and device manufacturers across various therapy areas. The osteosynthesis devices market caters to the orthopedic biomedicine sector, offering advanced, differentiated, and clinically tested data-driven solutions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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