Rib Fracture Repair Systems Market Size is Projected to Reach USD 19 Billion by 2030, Growing at a CAGR of 11.4%: Zion Market Research

NEW YORK, United States, Sept. 15, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Rib Fracture Repair Systems Market By Product Type (U Plate Rib Fracture Repair Systems And Anterior Plate Rib Fracture Repair Systems) And By End-User (Hospitals, Ambulatory Surgical Centers, And Specialty Clinics), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030 in its research database.

“According to the latest research study, the global rib fracture repair systems market size was valued at about USD 12 billion in 2022. The market is expected to grow at a CAGR of 11.4% and is anticipated to reach USD 19 billion by 2030.”

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Rib Fracture Repair Systems Market Overview:

Rib fracture healing systems consist of implants and devices designed to maintain rib reconstruction. Polymer-coated stainless steel and titanium alloys compose the majority of the devices.  These systems are among the most extensive thoracic care device systems. It incorporates both locking fasteners and plates. In addition, the latter offers a variety of benefits for intraoperative bleeding, allowing surgeons to conduct operations more efficiently. The specially designed fracture restoration systems mimic the flexibility of the actual rib and cover the entire length of the rib.

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Report Scope:

Report Attribute Report Details
Market Size in 2022 USD 12 Billion
Market Forecast in 2030 USD 19 Billion
Growth Rate CAGR of 11.4%
Base Year 2022
Forecast Years 2023- 2030
Key Companies Covered ePuy Synthes, SIG Medical, Zimmer Biomet, Acumed LLC, and others.
Segments Covered By Product Type, By End User, and By Region
Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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Key Insights from Primary Research

  • The global rib fracture repair systems market is anticipated to grow rapidly over the forecast timeline owing to increasing osteoarthritis cases, increasing elderly population, growing cases of sports-related injuries, technological advancements, and increasing awareness.
  • In terms of product type, the U plate rib fracture repair systems segment is slated to register the highest CAGR over the analysis period.
  • Based on the end-user, the ambulatory surgical centers segment is set to dominate the application landscape over the forecast period.
  • Region-wise, the Asia-Pacific rib fracture repair systems industry is projected to register the fastest CAGR during the assessment timeline.

Rib Fracture Repair Systems Market: Growth Factors

  • Rise in the incidences of sports injuries and osteoarthritis will drive the global market trends

Factors such as increasing osteoarthritis cases, increasing elderly population, growing cases of sports-related injuries, technological advancements, and increasing awareness will act as major driving factors in the growth of the global rib fracture repair systems market. Aside from this, humans are prone to rib fractures, which will stimulate the global expansion of the market. In addition, advancements in fracture technologies have paved the way for the market’s enormous global expansion. The scale of the global market has been largely influenced by the thriving healthcare sector. The global expansion of the market has been fueled by the increase in the number of elderly individuals susceptible to bone fractures. In recent years, the expansion of the global market has been substantially aided by the introduction of new products. In the first half of 2021, DePuy Synthes, a significant division of Johnson & Johnson, introduced a locking compression plate of about 2.8mm variable angle.

Rib Fracture Repair Systems Market: Restraints

  • Huge invasion rate of rib fracture repair systems to hinder the global industry surge

High invasion rate of rib fracture repair systems and lengthy surgical procedures will restrict the growth of the global rib fracture repair systems industry. Unfavorable compensation guidelines and huge costs of surgeries will further hinder the global industry growth in the years ahead.

Browse the full “Rib Fracture Repair Systems Market By Product Type (U Plate Rib Fracture Repair Systems And Anterior Plate Rib Fracture Repair Systems) And By End-User (Hospitals, Ambulatory Surgical Centers, And Specialty Clinics), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/rib-fracture-repair-systems-market

Rib Fracture Repair Systems Market: Segmentation

The global rib fracture repair systems market is sectored into product type, end-user, and region.

In product type terms, the global rib fracture repair systems market is segregated into U plate rib fracture repair systems and anterior plate rib fracture repair systems segments. Furthermore, the U plate rib fracture repair systems segment, which accumulated nearly 50% of the global market revenue share in 2022, is predicted to register the highest CAGR in the forecasting years.

Based on the end-user, the global rib fracture repair systems industry is sectored into hospitals, ambulatory surgical centers, and specialty clinics segments. Moreover, the ambulatory surgical centers segment, which garnered a huge share of the global industry in 2022, is anticipated to lead the global industry over the projected timeframe.

Regional Analysis:

  • North America should maintain its worldwide market leadership over time

North America will dominate the global rib fracture repair systems market during the forecast period. In addition, the United States held the largest stake in the North American region due to its high healthcare spending and the presence of the most recent healthcare spending. Europe will be the subsequent major market. The key reasons are the large elderly population and favorable reimbursement environment.

Asia-Pacific will have the maximum growth rate due to the prevalence of cardiovascular disorders and rising awareness of the product’s benefits. The region of Latin America will expand at an astounding rate during the projected time frame. During the anticipated time frame, the Middle East and Africa region will exhibit favorable growth.

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Competitive Players:

The report contains qualitative and quantitative research on the global Rib Fracture Repair Systems market, as well as detailed insights and development strategies employed by the leading competitors.

Some of the main players in the global Rib Fracture Repair Systems market include;        

  • ePuy Synthes
  • SIG Medical
  • Zimmer Biomet
  • Acumed LLC

The global Rib Fracture Repair Systems market is segmented as follows:

By Product Type

  • U Plate Rib Fracture Repair Systems
  • Anterior Plate Rib Fracture Repair Systems

By End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Clinics

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Southeast Asia
    • Rest of Southeast Asia
  • The Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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Key questions answered in this report:

  • What is the market size and growth rate forecast for Rib Fracture Repair Systems industry?
  • What are the main driving factors propelling the Rib Fracture Repair Systems Market forward?
  • What are the leading companies in the Rib Fracture Repair Systems Industry?
  • What segments does the Rib Fracture Repair Systems Market cover?
  • How can I receive a free copy of the Rib Fracture Repair Systems Market sample report and company profiles?

Key Offerings:

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market

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