Global Rib Fracture Repair Systems Market Size, Share, Trends, Industry Analysis Report: Information By Product (Anterior Plate, U Plate), By Material, By End-Use, and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2024 - 2032
- Published Date:Aug-2024
- Pages: 115
- Format: PDF
- Report ID: PM5009
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
Global rib fracture repair systems market size was valued at USD 271.26 million in 2023. The rib fracture repair systems industry is projected to grow from USD 285.66 million in 2024 to USD 438.07 million by 2032, exhibiting a compound annual growth rate (CAGR) of 5.5% during the forecast period (2024 - 2032).
The demand for rib fracture repair systems is driven by the need to effectively treat and manage rib fractures, which can result from traumatic injuries such as falls, motor vehicle accidents, or blunt trauma. These systems aim to stabilize fractured ribs, alleviate pain, and support respiratory function, particularly in cases where multiple ribs are affected or when there is a risk of complications like pneumothorax or impaired lung function.
Also, patients and healthcare providers are increasingly preferring minimally invasive procedures that reduce recovery times, minimize trauma, and improve patient outcomes. Increased healthcare spending in both developed and developing countries supports investment in advanced medical devices and technologies, including rib fracture repair systems, which are driving the rib fracture repair systems market.
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Healthcare providers are increasingly recognizing the significance of early and effective management of rib fractures in improving patient outcomes and reducing complications. This awareness is contributing to the growth of the rib fracture repair systems market. Furthermore, innovations in surgical techniques, implant materials, and imaging technology by key players are also driving the increasing demand for rib fracture repair systems.
Rib Fracture Repair Systems Market Trends
Rising Incidence of Sports-Related Injuries is Driving the Market Growth
The rising incidence of sports-related injuries is driving market CAGR for rib fracture repair systems. Sports activities, including contact sports like football, rugby, and hockey, as well as recreational activities such as skiing and mountain biking, often involve high-impact collisions or falls that can lead to rib fractures. These injuries are not only prevalent among professional athletes but also among unprofessional and recreational athletes of all ages.
The rise in global sports participation, along with the competitive nature of sports, has led to an increased number of rib fractures that require medical attention. Rib fractures can affect breathing and cause pain and discomfort. In severe cases, they can lead to complications like pneumothorax or hemothorax. Timely and effective treatment is crucial for proper healing and to prevent long-term complications, which has a significant impact on the market outlook.
Healthcare providers and sports medicine professionals are increasingly recognizing the importance of early diagnosis and appropriate management of rib fractures in athletes. This awareness has led to greater demand for advanced rib fracture repair systems that can provide stable fixation, reduce pain, and facilitate quicker recovery times driving the rib fracture repair systems market growth.
Adoption of Technological Advancements in Rib Fracture Repair Systems
The rib fracture repair systems market is experiencing significant growth, driven by the adoption of technological advancements. Advances in surgical techniques, such as minimally invasive approaches and computer-assisted navigation systems, have enhanced the precision and effectiveness of rib fracture repair procedures. These advancements reduce surgical trauma, minimize recovery times, and improve patient outcomes, thereby increasing the adoption of modern rib fracture repair systems.
For instance, in February 2021, the American College of Surgeons reported that rib fractures are common blunt traumatic injuries, affecting up to 10 percent of all trauma patients. Technological advancements such as depth-controlled drilling technology in surgical stabilization of rib fractures (SSRF) have significantly increased its use and popularity as an effective intervention for traumatic rib fractures. Such technological advancements are expected to increase the demand for rib fracture repair systems and drive market revenue.
Rib Fracture Repair Systems Market Segment Insights
Rib Fracture Repair Systems Product Insights
The rib fracture repair systems market segmentation, based on product, includes anterior plate and U plate. In 2023, the U plate segment held the largest market share. Technological advancements have led to the development of more effective and versatile U plate designs, improving their ability to stabilize rib fractures effectively. Also, the market leaders are expanding their global presence through strategic partnerships, acquisitions, and distribution agreements, facilitating the widespread adoption of advanced fracture repair solutions in new regions.
The anterior plate segment is poised for significant growth during the forecast period, driven primarily by strategic partnerships and technological advancements. Partnerships between medical device firms and healthcare institutions are fostering the development of advanced anterior plate designs, which enhance their efficacy in stabilizing rib fractures.
For example, in March 2020, Acumed partnered with Acute Innovations, a company specializing in innovative solutions for complicated traumatic chest wall injuries. Acute Innovations' product portfolio offers surgeons solutions for traumatic rib fractures and technologies for reconstructing the chest wall, thereby expanding the market for anterior plates in rib fracture repair systems.
Rib Fracture Repair Systems End-Use Insights
The global rib fracture repair systems market segmentation, based on end-use, includes hospitals, specialty clinics, and ambulatory surgical centers. The hospital category is anticipated to witness substantial growth in the rib fracture repair systems market during the forecast period. This growth is driven by several factors, including the increasing incidence of traumatic injuries requiring hospitalization, such as vehicular accidents and falls. Hospitals are key settings for managing severe rib fractures, offering advanced medical facilities, surgical expertise, and intensive care support necessary for effective treatment and recovery.
For instance, according to the National Library of Medicine, a study examined data from January 2000 to December 2020 and found 1475 motor vehicle fatalities in TARS. Among these, 1082 coronial autopsy reports aligned with TARS fatal crash data. After excluding cases with missing data, the study analyzed 874 cases, revealing that 685 cases involved one or more rib fractures. These findings underscore the increasing demand in hospital settings, which is anticipated to fuel growth in the rib fracture repair systems market.
Rib Fracture Repair Systems Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the rest of the world. The North American rib fracture repair systems market accounted for the largest share in 2023, owing to heightened innovations in surgical techniques and implant materials that enhance the effectiveness of rib fracture repair systems, driving adoption rates. Further, the key market players are merging, acquiring, and collaborating to strengthen their market presence and serve better offerings in North America, further driving the market during the forecast period.
The United States rib fracture repair systems market accounts for the largest market share due to high rates of vehicular accidents, falls, and sports-related injuries. There is a growing emphasis on enhancing patient outcomes, reducing recovery times, and minimizing post-operative complications, which drives the demand for advanced fracture repair technologies.
For instance, a 2022 report from the National Library of Medicine highlights that approximately 10% of trauma patients seen in emergency departments suffer from blunt chest trauma, a common reason for hospital visits globally. Motor vehicle crashes (MVC) and falls are the leading causes of this type of injury. Studies indicate that up to 60% of patients with blunt chest trauma sustain traumatic rib fractures. In the United States, annual hospitalizations for rib fractures vary between 22,000 to 45,000 patients, resulting in an estimated cost of around $469 million annually. These statistics underscore the significant factors propelling growth in the rib fracture repair systems market.
The Canada rib fracture repair systems market held a significant market share due to the well-established healthcare system, including hospitals and specialized medical facilities. The robust healthcare infrastructure in Canada supports the diagnosis and treatment of rib fractures, driving the adoption of advanced medical devices. Innovations in surgical techniques and implant materials enhance the effectiveness of rib fracture repair systems, attracting healthcare providers and patients seeking improved treatment outcomes and contributing to driving the demand for rib fracture repair systems market technologies.
The Asia-Pacific rib fracture repair systems market is expected to grow at the fastest CAGR during the projection period. This is due to the increase in road accidents in India and China, along with a growing elderly population and rising incidence of rib fractures.
For instance, according to the Ministry of Road Transport and Highways, in India, states and union territories reported a total of 461,312 road accidents in 2022. These accidents resulted in 168,491 fatalities and injuries to 443,366 individuals. The number of road accidents increased by 11.9% compared to the previous year, 2021. These statistics underscore the significant need for improved systems to drive regional growth in the market for rib fracture repair systems.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, and others.
Rib Fracture Repair Systems Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the rib fracture repair systems industry grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, acquisitions and mergers, contractual agreements, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the rib fracture repair systems industry must launch innovative technological advances.
Manufacturing locally to reduce operating expenses is one of the key business tactics used by manufacturers in the global rib fracture repair systems industry to benefit clients and increase the market sector. Major players in the rib fracture repair systems market include Able Medical Devices, Acumed, LLC, Jeil Medical Corporation, Johnson & Johnson Services, Inc., KLS Martin Group, NEURO FRANCE Implants, Smith+Nephew, Stryker Corporation, Waston Medical Co., Ltd., and Zimmer Biomet.
Stryker Corp is a medical technology company that specializes in providing a wide range of healthcare solutions. The company manufactures orthopedic implants, surgical equipment, surgical navigation systems, neurotechnology, and spine products and also provides associated services. In March 2024, Stryker launched its Gamma4 Fracture Nailing System across most European markets.
Zimmer Biomet is a global medical device company specializing in healthcare, orthopedics, medical instruments, surgical instruments, medical technology, medical supplies, innovation, medical devices, signature solutions, patient care, dental, spine, robotics, and joint reconstruction. The company’s innovations help to treat disorders or injuries of the joints, bones, and supporting soft tissues. In 2019, Zimmer Biomet announced the launch of the RibFix Intrathoracic Fixation System.
Key companies in the rib fracture repair systems market include
- Able Medical Devices
- Acumed, LLC
- Jeil Medical Corporation
- Johnson & Johnson Services, Inc.
- KLS Martin Group
- NEURO FRANCE Implants
- Smith+Nephew
- Stryker Corporation
- Waston Medical Co., Ltd.
- Zimmer Biomet
Rib Fracture Repair Systems Industry Developments
- May 2024: SIMS Hospital has inaugurated a specialized center dedicated to treating disorders of the rib cage.
- January 2024: Able Medical Devices received FDA clearance for its Valkyrie RIB System, enhancing its product lineup in the cardiothoracic and trauma sectors.
- August 2019: Zimmer Biomet Holdings, Inc. has received approval from the U.S. Food and Drug Administration for The Tether, offering a fusion-less alternative for young patients needing surgery for scoliosis. The Tether is applied using an endoscopic minimally invasive method through small openings between the ribs.
Rib Fracture Repair Systems Market Segmentation
Rib Fracture Repair Systems Product Outlook
- Anterior Plate
- U Plate
Rib Fracture Repair Systems Material Outlook
- PEEK
- Titanium
- Other Materials
Rib Fracture Repair Systems End-Use Outlook
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
Rib Fracture Repair Systems Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Vietnam
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Rib Fracture Repair Systems Report Scope
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Report Attributes |
Details |
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Market Size Value in 2023 |
USD 271.26 million |
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Market Size Value in 2024 |
USD 285.66 million |
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Revenue Forecast in 2032 |
USD 438.07 million |
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CAGR |
5.5% from 2024 – 2032 |
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Base Year |
2023 |
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Historical Data |
2019 – 2022 |
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Forecast Period |
2024 – 2032 |
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Quantitative Units |
Revenue in USD million and CAGR from 2024 to 2032 |
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Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
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Segments Covered |
|
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Regional Scope |
|
|
Competitive Landscape |
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Report Format |
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Customization |
Report customization as per your requirements with respect to countries, region, and segmentation. |
FAQ's
The global rib fracture repair systems market size was valued at USD 271.26 million in 2023 and is projected to grow to USD 438.07 million by 2032.
The global market is projected to grow at a CAGR of 5.5% during the forecast period, 2023-2032
North America had the largest share of the global market
The key players in the market are Able Medical Devices, Acumed, LLC, Jeil Medical Corporation, Johnson & Johnson Services, Inc., KLS Martin Group, NEURO FRANCE Implants, Smith+Nephew, Stryker Corporation, Waston Medical Co., Ltd., and Zimmer Biomet.
In 2023, the U plate segment held the largest market share.
The hospital category is anticipated to witness substantial growth in the rib fracture repair systems market during the forecast period.
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