The increasing geriatric population and their vulnerability towards various diseases of the bone is boosting the global elbow fixators market, says Fortune Business Insights in their new report. The report is titled, ”Elbow Fixators Market Size, Share and Global Trend by Product Type (Circular Fixators Unilateral Fixators, Hybrid Fixators), By Age Group (Adults, Pediatric), By Treatment Type (Surgical Fixators, Non-surgical Fixators), By Fracture Type (Distal Humerus Fixators, Capitellum Fixators, Olecranon Fixators, Coronoid Fixators), By End User (Hospitals, Ambulatory Surgical Centres, Specialty Clinics), and Geography Forecast till 2026.”
According to the Acumed Elbow Solution Analysis Committee, out of the total number of all adult fracture cases, about 30% of them are associated with the elbow, and 0.5% to 7% of them were related to distal humerus, and 10% of them to be associated with olecranon. As compared to this ratio, the percentage of capitellum fractures is rare, i.e., an approximate of 1% only. This shows as per segmentation by fracture type, the market is dominated by olecranon fixators as they account for the largest share of the global elbow fixators market.
The number of COVID-19 cases in the world is increasing at an alarming rate, driving the demand for accurate testing kits to identify the number of infected people. As per the World Health Organization (WHO), the number of cases in the US has reached around 59 lakhs in August 2020. Several countries are focusing on developing COVID-19 diagnostic testing kits and procedures to rapidly test, identify, and track coronavirus cases and containthe spread of the virus. Companies such as Roche, Bio-Rad, Thermo Fischer Scientific, CovidMD, and others have developed various technologies and services to enhance the detection of viruses. For example, CovidMD announced the launch of a new virtual video consultant platform for handling potential virus infections in May 2020. It incorporates a Salesforce Service Cloud that offers personal guidance to consumers by studying their health background and provides solutions to avoid infections. The implementation of advanced technologies in detection kits and services is enabling governments to contain the contagion to a certain extent and lessen the suffering of patients, thereby influencing market growth.
Increasing Number of Sports Injuries to Give Market Significant Impetus
The rising geriatric population and their vulnerability towards various disease are helping the market for elbow fixators gain momentum. Fixing elbow joints helps to manage com0plicated joint dislocations, and interposition distraction arthroplasty. It also helps to stabilize the joint instability after extensive contracture release. Thus, the market may gain high revenues on account of the complications related with bone structure dislocation of the elbows among the aged people.
Another major factor boosting the global market for elbow fixators is the increasing popularity of various sports and the number of sports injuries worldwide. Elbow dislocations or fractures are likely to occur in sports such as hockey, skiing, wrestling, football, baseball, and others. Besides this, the rising prevalence of osteoporosis is also adding fuel to the growth of the market during the forecast period.
However, the increasing risk of infection after elbow fixating surgery may cause hindrance to the market during the forecast period. Again, other issues related to neurovascular surgery and pin tract infections may also hamper the overall growth of the market in future. Furthermore, the lack of awareness about elbow fixators process in developing and under developed countries may also challenge the growth of the market in coming years. This, coupled with, various government regulations imposed on approval of products may restrict growth of the global elbow fixators market in the long run.
Nevertheless, the increasing popularity of minimally invasive surgeries among physicians is anticipated to boost the global market for elbow fixators during the forecast period.
Asia Pacific Showcases Huge Growth Potential on Account of Improving Healthcare Infrastructure
Fortune Business Insights Foresees the global elbow fixators market to be dominated by North America. This is owing to the rising number of trauma cases associated with elbow fractures, coupled with, increasing number of trauma procedures in the developed nations of Canada and the U.S. The Ohio State University estimates an approximate of over 6 million people in the U.S. breaking bones every year. This makes North America a potential region for the expansion of the elbow fixators market.
On the other side, Asia Pacific is also expected to hold huge potential for the growth of the elbow fixators market. This is owing to the improving healthcare centers and medical facilities in the developing economies of India, and China and introduction of latest technologies in the healthcare sectors in the region.
Various companies operating in the global elbow fixators market are Smith & Nephew plc., Response Ortho, DePuy Synthes (Johnson & Johnson Services, Stryker, Wright Medical Group N.V., Inc.), Acumed LLC, Orthofix Holdings Inc., Fixus, Integra Life Sciences Corporation, SOFEMED International, and Zimmer Biomet.
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