External Fixators Market, By Product Type (Manual Fixators and Computer-Aided Fixators), By Fixation Type (Unilateral and Bilateral, Circular, Hybrid, and Others), By Application (Orthopedic Deformities, Fracture Fixation, Infected Fracture, Limb Correction, and Others), By End User (Hospitals, Ambulatory Surgical Centers, Orthopedic and Trauma Centers, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jul 2024

Code : CMI4589

Pages :200

Formats :

Excel and PDF

Industry : Medical Devices

Market Challenges: High cost of external fixators

The high cost of external fixators is one of the major factors restraining the growth of the global external fixators market. External fixators are used to stabilize and immobilize bones or joints that have been fractured, dislocated, or surgically manipulated. However, external fixators come with a hefty price tag which makes their usage limited in many parts of the world. External fixators are constructed using complex metallic frames, pins, wires, and clamps to connect fragments of fractured bones or align dislocated joints. The components are made of high-grade metals like titanium and stainless steel to ensure strength and durability. However, such high-quality materials and miniature precision components required for assembling external fixators push up their manufacturing costs significantly. Additionally, the specialized orthopedic expertise required for surgically placing external fixator components leads to high operating room costs as well. Due to their bulky nature, external fixators also require longer hospitalization periods compared to internal fixation devices like plates and screws. This increases the overall treatment costs per patient manifold.

Market Opportunities: Advancements in virtual/augmented reality for external fixators

Advancements in virtual and augmented reality technologies open up new opportunities for innovation in external fixators used in orthopedic surgeries. Virtual and augmented reality can enable surgeons to effectively plan surgeries, guide procedures, and monitor patients' recovery progress remotely. This can help address some of the key challenges with conventional external fixators. External fixators require complex surgical procedures to align fractured bones and ensure proper healing over time. Virtual reality simulations allow surgeons to carefully map out the surgical steps, visualize anatomical structures, and practice complex maneuvers before actual procedures. This helps reduce risks of errors and shorten surgery duration. During procedures, augmented reality tools can overlay real-time imaging and anatomical overlays to guide pin placements and frame adjustments. Some upcoming technologies also aim to integrate live imaging feeds directly into augmented reality interfaces to provide an inside view of the surgical site. This facilitates complex maneuvers that are otherwise difficult with conventional 2D monitors.