Condylar Plate Fixation Implants Market: Overview
- Over the past three decades, condylar plates have been used in the treatment of multiple incomplete articular fractures. These plates can be used in open or minimally invasive ways. Lateral approach is used when these plates are inserted in an open manner in cases of extra articular and complete articular fractures with a simple articular component.
- The global condylar plate fixation implants market is anticipated to expand at a rapid pace during the forecast period, owing to rise in geriatric population, technological innovations related to implants, and increase in cases of other musculoskeletal disorders
Key Drivers of Global Condylar Plate Fixation Implants Market
- Increase in geriatric and obese population is likely to propel the adoption of orthopedic devices during the forecast period. According to the U.S. Department of Health & Human Product estimates, the geriatric population in the U.S. will reach approximately 72.1 million by 2030. This is expected to drive the global condylar plate fixation implants market during the forecast period.
- Technological advancements associated with implant devices are also fueling market growth. Large number of global manufacturers who have technical expertise and core competencies are undertaking R&D to develop and manufacture novel orthopedic products. Improved biomaterial-based implants offering high strength and low wear are witnessing an exponential rise in demand in developed as well as developing countries. Moreover, rapid adoption of minimally invasive surgery (MIS), navigation technology, 3D bioprinting & tissue engineering, custom made implants, computer-aided fixation of implants, and development of variable axis screw systems has been witnessed. These factors are projected to propel the global condylar plate fixation implants market during the forecast period.
- There has been an increase in cases of accidental injuries during sports, driving, and adventure activities in the past decade. A study carried out by the American Academy of Orthopedic Surgeons (AAOS) revealed that approximately 25% of sports injuries were related to lower extremities, such as ankle and foot. Serious bone injuries have been reported recently among professionals as well as amateur sportspersons. A study published in January 2016 by the National Electronic Injury Surveillance System in the U.S. indicated that every year, over 2 million patients visit the U.S. emergency departments for head trauma related injuries. According to the WHO, in 2012, approximately 1.24 million deaths were recorded in road accidents globally. China accounted for 275,983 fatalities, the highest in any nation, followed by India (238,568). Thus, rise in accidental injuries is likely to fuel market growth.
Product Recalls Negatively Impacting Market Growth
- Product recalls due to device inefficiency or manufacturing errors affect the adoption of these devices by surgeons and patients, thereby impacting the revenue of manufacturers. Recalls and related lawsuits have criticized orthopedic companies leading to loss of credibility in the minds of customers which is likely to hamper the market growth. These events have a collective effect on the acceptance of the implants as safe in the minds of patients. These factors are likely to hamper the growth of the global condylar plate fixation implants during the forecast period.
- Requirement for approvals of regulatory authorities, such as the U.S. Food and Drug Administration (FDA), European CE Mark, and Japan FDA has risen. This has collectively led to high pricing of medical devices. Prime customers of these devices, such as hospitals and commercial diagnostic laboratories & research are adversely affected by price rise of these devices. This is likely to hinder market growth during the forecast period.
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Asia Pacific to Hold Major Share of Global Condylar Plate Fixation Implants Market
- Asia Pacific is a leading consumer of condylar plate fixation implants, followed by North America and Europe. China and India are key markets in the region.
- Increase in population base, rise in incidences of orthopedic diseases, and improving economy of China, India, and others countries in the Southeast Asia are resulting in high per capita health care expenditure. This is anticipated to drive the condylar plate fixation implants market in the region.
- The condylar plate fixation implants market in Middle East & Africa is estimated to expand at a rapid pace during the forecast period, followed by North America and Europe. This can be attributed to rise in investments in the health care industry of the region.
Key Players Operating in Global Market:
The global condylar plate fixation implants market is highly competitive with top manufacturers adopting various strategies for gaining maximum market share. Some of the key players operating in the global condylar plate fixation implants market are:
- Arthrex, Inc.
- Zimmer Biomet
- DePuy Synthes
- Aesculap, Inc.
- Braun Company
Global Condylar Plate Fixation Implants Market: Research Scope
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Global Condylar Plate Fixation Implants Market, by Product Type
- Straight Condylar Plates
- Curved Condylar Plates
Global Condylar Plate Fixation Implants Market, by Anatomical Site of Fracture
- Humeral Condylar Plates
- Femoral Condylar Plates
- Mandibular Condylar Plates
- Tibial Condylar Plates
Global Condylar Plate Fixation Implants Market, by Part of Bone
Global Condylar Plate Fixation Implants Market, by End-user
- Orthopedic Clinics
- Ambulatory Surgery Centers