Global Rib Fracture Repair Systems demand is anticipated to be valued at USD 420.3 Million in 2022, forecast to grow at a CAGR of 5.2% to be valued at USD 699.5 Million from 2022 to 2032. Growth is attributed to the human vulnerability to rib fractures and injuries.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 400.0 Million |
| Expected Market Value (2022) | USD 420.3 Million |
| Anticipated Forecast Value (2032) | USD 699.5 Million |
| Projected Growth Rate (2022 to 2032) | 5.2% CAGR |
Rib Fracture Repair Systems are implants and devices, that are designed to support the reconstruction of a fractured rib. The devices are primarily made up of titanium alloys and stainless steel coated by the polymer. The novel type of core internal fixation implants and devices will escalate the growth opportunities for the rib fracture repair system market.
Rib Fracture Repair Systems is one of the prime comprehensive thoracic care systems. The repair system integrates locking screws and plates. The plates offer an advantage in intraoperative bleeding offering surgeons an advantage for surgery.
Other major factors like the human vulnerability to rib fractures and injuries, and an unbalanced food diet, coupled with the increase in the geriatric population are likely to boost the market growth during the forecast period.
On the flip side, the stringent regulatory guidelines for the approval of new treatments are further projected to impede the growth of the rib fracture treatment market in the timeline period.
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The increasing number of hard falls, accidental cases, domestic issues, and other types of violence are the major factors that are expected to fuel the growth of the Rib Fracture Repair Systems market over the forecast period.
The rise in cases of low bone density and the growing amount of excessive playing of contact sports including football and rugby are further anticipated to accelerate the growth of the rib fracture treatment market in the forthcoming years.
The human vulnerability to rib fractures and injuries, and an unbalanced food diet, coupled with the increase in the geriatric population are the major factors that are likely to boost the market growth during the forecast period.
Factors such as the rising cases of osteoporosis and arthritis, the rise in the healthcare infrastructure, and the growth of the aging population due to the natural phenomenon of aging leading to fragile bone structures are expected to augment the market growth over the analysis period.
Factors such as the high rate of invasion associated with Rib Fracture Repair Systems and long surgical procedures are expected to hinder the growth of the Rib Fracture Repair Systems market during the forecast period.
Unsuitable reimbursement policies, and the increased expenses of surgeries, and therapy are the major factors that are anticipated to impede market growth in the near future.
The stringent regulatory guidelines for the approval of new treatments are further projected to hamper the growth of the rib fracture treatment market over the analysis period.
North America dominates the rib fracture treatment market, attributed to the high demand for rib fracture treatment for treating trauma cases and sports-related injuries. In addition, the growing healthcare infrastructure is further expected to propel the growth of the rib fracture treatment market in the region over the analysis period.
The increasing number of casualties from motor accidents is one of the major factors that is anticipated to augment the market growth in the region in the forthcoming years.
The Rib Fracture Repair Systems market in North America is expected to hold the largest share of USD 330.3 Million. Considering the revenue generation, the regional market is expected to reach a CAGR of 5.15% during the forecast period.
The Asia-Pacific rib fracture repair systems market is expected to reach a CAGR of 4.6% with a market value of USD 250.9 Million. The rib fracture repair systems market in Asia-Pacific is expected to observe a significant amount of growth in the rib fracture treatment market during the forecast period, attributed to the growing incidence of rib fracture cases in the region.
The constant rise in the population in Asia Pacific countries including China and India is one of the major factors that is anticipated to boost the regional growth of rib fracture repair systems over the analysis period.
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Some of the key participants present in the global Rib Fracture Repair Systems market include DePuy Synthes, SIG Medical, Zimmer Biomet, Acumed, LLC, Novartis AG, Sun Pharmaceutical Industries Ltd., Larken Laboratories, Teva Pharmaceutical Industries Ltd., Cipher Pharmaceuticals Inc., Mylan N.V., Purdue Pharma L.P., Allergan plc., USWM, LLC., GlaxoSmithKline plc., and Pfizer Inc., among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as DePuy Synthes, SIG Medical, Zimmer Biomet, Acumed, LLC, and Novartis AG, account for a considerable market size, several regional-level players are also operating across key growth regions, particularly in North America.
Recent Developments:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.2% from 2022 to 2032 |
| Market Value in 2022 | USD 420.3 Million |
| Market Value in 2032 | USD 699.5 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, End User, Region |
| Regional Scope | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Country Scope | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Johnson & Johnson Services Inc. (DePuy Synthes); SIG Medical; Zimmer Biomet; Acumed LLC; Jeil Medical Corporation; Waston Medical Co. Ltd.; NEURO FRANCE Implants; KLS Martin Group; Stryker Corporation; Olympus Corporation |
| Report Customization & Pricing | Available upon Request |
FMI projects the global Rib Fracture Repair Systems market to expand at a 5.2% value CAGR by 2032
North America is expected to be the most opportunistic Rib Fracture Repair Systems market, expanding at 5.15% CAGR
DePuy Synthes, SIG Medical, Zimmer Biomet, Acumed, LLC, Novartis AG, Sun Pharmaceutical Industries Ltd., Larken Laboratories, and Teva Pharmaceutical Industries Ltd., are some prominent Rib Fracture Repair Systems manufacturers
| Current Year Value (2023) | USD 272.4 million |
|---|---|
| Expected Forecast Value (2033) | USD 861.4 million |
| Projected CAGR (2023 to 2033) | 12.2% |
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Rib Fracture Repair Systems Market
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