Rib Fracture Repair Systems Market Growth, Size, Share, Trends, and Forecast 2030

Rib Fracture Repair Systems Industry Prospective:

The global rib fracture repair systems market size was evaluated at $12 billion in 2022 and is slated to hit $19 billion by the end of 2030 with a CAGR of nearly 11.4 % between 2023 and 2030.

Request Free Sample

Rib Fracture Repair Systems Market: Overview

Rib fracture repair systems are implants and devices designed to upkeep the reconstruction of a broken rib. The devices are chiefly comprised of stainless steel and titanium alloys covered by the polymer.  These systems are one of the major wide-ranging thoracic care systems of devices. It combines locking screws as well as plates. Moreover, the latter offers a slew of benefits in intraoperative bleeding, thereby helping surgeons effectively perform surgical operations. The specially designed fracture repair systems imitate the flexibility of the actual rib providing complete coverage to the whole rib length.

Key Insights

• As per the analysis shared by our research analyst, the global rib fracture repair systems market is projected to expand annually at the annual growth rate of around 11.4% over the forecast timespan (2023-2030)
• In terms of revenue, the global rib fracture repair systems market size was evaluated at nearly $12 billion in 2022 and is expected to reach $19 billion by 2030.
• 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. Apart from this, humans are prone to rib fractures and this will prompt the expansion of the market across the globe. Additionally, innovations in fracture technologies have paved the way for humungous growth of the market across the globe. Thriving healthcare sector has contributed majorly to the global market size. Rise in the aging population prone to bone fractures has provided an impetus to the expansion of the market across the globe. New product launches have contributed notably towards the expansion of the global market in recent years. In the first half of 2021, DePuy Synthes, a major 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.

Rib Fracture Repair Systems Market: Opportunities

Increasing alterations in surgical technology and technological improvements in the rib fracture domain will present an opportunity for the market players in the rib fracture repair systems market.

Rib Fracture Repair Systems Market: Challenges

Stringent regulations approving new modes of treatment put up a huge challenge to the growth of the global industry

Strict laws regulating the approval of new medical treatments in the developed countries of Europe and the Americas can pose a huge challenge to the growth of the rib fracture repair systems industry across the globe.

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. The growth of the segment in the forecasting timeline can be owing to the rise in the use of U plate rib fracture repair systems in hospitals, ambulatory surgical centers, and specialty clinics.

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. The segmental growth over the assessment timespan can be subject to a surge in the demand for rib fracture repair systems in ambulatory surgical centers.

Rib Fracture Repair Systems Market: Report Scope

Rib Fracture Repair Systems Market: Regional Insights

North America is anticipated to maintain its global market leadership position over the expected timeline

North America will be the leading region in the global rib fracture repair systems market during the forecast period. Moreover, the U.S. accounted for the highest share in the North American region due to high healthcare expenditure and the presence of the latest healthcare expenditure. Europe will be the next key market. The crucial reasons are the high geriatric population and favorable reimbursement scenario. Asia-Pacific will develop at the highest growth rate owing to a high incidence of cardiovascular disorders and increasing awareness about the benefits of the product. Latin America region will proliferate at a remarkable rate through the projected time. The Middle East & Africa region will display positive development in the projected time frame.

Rib Fracture Repair Systems Market: Competitive Space

The global rib fracture repair systems market profiles key players such as:

• 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
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa