Rib Fracture Repair Systems Market Size

Rib Fracture Repair Systems Market size was valued at USD 277.2 million in 2023 and is poised to cross USD 509.91 million by 2036, registering more than 4.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of rib fracture repair systems is estimated at USD 287.84 million. The growth of the market can be attributed to the rising developments in surgical technology, and increasing number of road accidents resulting in severe fatalities. According to the World Health Organization (WHO), as of June 2021, about 1.3 million people died every year as a result of road traffic crashes. These accidents had cost most countries 3% of their gross domestic product.

Along with these, emergence of home therapies for rib fracture management, such as fast relief ointments and sprays, is also expected to drive market growth in the forthcoming years. Furthermore, ongoing development of biodegradable rib fracture systems, and upsurge in geriatric population, being more prone to injuries, are projected to offer abundant growth opportunities to the market in the near future.

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of rib fracture repair systems is estimated at USD 287.84 million.

Rib Fracture Repair Systems Market size was valued at USD 277.2 million in 2023 and is poised to cross USD 509.91 million by 2036, registering more than 4.8% CAGR during the forecast period i.e., between 2024-2036. The market growth is driven by rising developments in surgical technology, and increasing number of road accidents resulting in severe fatalities.

Asia Pacific industry is set to hold largest revenue share by 2036, owing to rapidly growing population, which in turn is resulting in the increased number of rib casualties.

The major players in the market are Acumed, LLC, Zimmer Biomet, Johnson & Johnson Services, Inc., Jeil Medical Corporation, Waston Medical Co., Ltd., and others.

Rib Fracture Repair Systems Market Size