Osteosynthesis Devices Market Size, Share, Growth Analysis, By Type(Internal Devices, Screws & Plates, Wires & pins, Intramedullary rods and nails), By Material(Degradable, Nondegradable), By Fracture(Skull, Facial bones, Sternum or one or more ribs, or both), By Region - Industry Forecast 2024-2031

As of 2022, North America held the dominant position in the global osteosynthesis devices market, holding the largest market share at 52.6% of the revenue. The region’s market supremacy can be credited to a number of factors that have changed the terrain of the orthopedic scene. Noteworthy among these factors are the concerted efforts of governments, the continuous release of new products, and robust investments in research and development. The buoyant healthcare expenditure within the region further propels its leadership status. Notably, the United States stands as a pivotal driver within North America due to its remarkable concentration of the major orthopedic device market. This concentration, predominantly in the U.S., positions it as not only the most financially rewarding but also the largest market for osteosynthesis equipment, securing a staggering 90% or more of the market share in the region.

Contrasting this North American stronghold, the Asia Pacific region is poised for remarkable growth, projected to exhibit the swiftest expansion throughout the forecast period. The orthopedic sectors in countries such as China, India, and Japan are undergoing rapid expansion, with Japan emerging as a significant contributor, accounting for over 34% of the orthopedic products market within the region. China and India, in particular, present compelling growth narratives, with their orthopedic markets progressing at rates of 24% and 15% respectively. A noteworthy trend in this landscape is the substantial influence wielded by major medical device companies headquartered in the United States and Europe. These companies exert considerable control over the overall orthopedic markets in countries like Japan, China, India, and other Asian nations.