Market Overview:
External fixators are medical devices used to treat fractures and bone deformities. They act as an alternative treatment option for severe trauma cases, non-unified fractures, infection, and skewed bone segments. External fixators provide a minimally invasive fixation method to hold broken bones and allow early mobilization. They are easy to use and can be adjusted during the healing process without additional surgery.

Market key trends:
The rising number of road accidents and trauma cases is a major driver for the external fixators market growth. According to the World Health Organization, road accidents account for more than 1.35 million deaths globally each year. Also, the geriatric population, which is more prone to bone injuries and fractures, is increasing worldwide. Furthermore, favorable reimbursement policies for orthopedic treatments and rising healthcare expenditure are propelling the demand for external fixators. However, the high cost of fixation devices and availability of alternative treatments are some of the factors limiting the market growth.

Porter’s Analysis
Threat of new entrants: The external fixators market requires high initial investment for R&D which acts as a barrier for new players. The established market share of existing players also poses a challenge for new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternatives however product differentiation provide buyers limited options for substitution.
Bargaining power of suppliers: A few players dominate the supply market. Suppliers have moderate power due to availability of alternatives and differentiated products.
Threat of new substitutes: Substitutes like internal fixation devices pose a threat due to more biological compatibility and less risk of infections.
Competitive rivalry: Intense competition exists among established players to gain higher market share through new product development and strategic partnerships.

SWOT Analysis
Strength: Wide range of product portfolio with customized/innovative solutions, strong geographic presence by major players, increasing trauma cases requiring effective bone fixation drives demand.
Weakness: Requirements of specialized surgeons for application, risk of infections, high costs associated with technology
Opportunity: Growth prospects in emerging markets, increasing preference for minimally invasive surgeries provide growth opportunities, rising number of road accidents and fall injuries
Threats: Reimbursement issues, preference of patients for internal fixation devices, entry of local players intensifying competition

Key Takeaways
The Global External Fixators Market Demand is expected to witness high growth, exhibiting CAGR of 8.2% over the forecast period, due to increasing number of accidents worldwide. The market size for 2023 is estimated to reach US$ 1145.44 Mn. North America dominates the external fixators market currently due to high trauma and accident cases along with presence of top players in the region.

Regionally, Asia Pacific is expected to witness fastest growth during the forecast period attributed to growing medical tourism coupled with rising healthcare expenditure in developing countries such as China and India.

Key players operating in the external fixators market are Johnson & Johnson Services, Inc. (DePuy Synthes), Double Medical Technology Inc., Orthofix Holdings, Inc., Ortho-SUV Ltd., Response Ortho LLC, Smith & Nephew, Stryker Corporation, Zimmer Biomet, Auxein Medical, Acumed, Orthopaedic Implant Company, Gexfix SA, WishBone Medical, Inc., and Matrix Meditech. These players are adopting strategic initiatives such as mergers, acquisitions, collaborations and new product launches to strengthen their market presence.
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