The Intramedullary Nail Market is estimated to be valued at US$ 1.95 Bn in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: The intramedullary nailing market involves long bone fractures repair using intramedullary nails. Intramedullary nails are inserted into the medullary cavity of long bones such as femur, tibia and humerus and are secured with interlocking screws at both ends to stabilize fractures. It is a minimally invasive surgical technique used as an alternative to plate osteosynthesis. Intramedullary nails offer benefits such as rigid fixation, less soft tissue dissection, early mobilization and weight bearing. Rise in number of road accidents and sports injuries are the major factors leading to long bone fractures globally. Market Dynamics: Increasing incidence of long bone fractures owing to rising elderly population, road accidents and sports injuries is a key driver projected to aid the intramedullary nail market growth over the forecast period. According to World Health Organization (WHO), road traffic injuries cause approximately 1.35 million deaths each year globally. In United States, fractures account for over 7 million emergency room visits annually. Rising disposable income in developing countries enabling access to advanced intramedullary nailing equipments and implants is another factor anticipated to fuel the market growth between 2023 and 2030. Rising awareness among orthopedic surgeons and patients regarding intramedullary nailing procedure benefits over plating is also expected drive the market. However, risks of implant failure, infection and complex surgeries are some challenges restricting complete market adoption. Segment Analysis The global intramedullary nail market is dominated by the titanium nails sub-segment. Titanium nails offer advantages such as biocompatibility, strength, and resistance to corrosion. Hence, they are widely used for intramedullary nailing. PEST Analysis Political: Regulations regarding approval processes for new intramedullary nail devices are favorable for market growth. Economic: Rising healthcare spending and increasing disposable incomes in developing countries are major drivers of market growth. Social: Growing prevalence of orthopedic diseases and sports injuries is increasing the demand for effective intramedullary nailing procedures. Technological: Advancements in nail designs, coating technologies, and virtual surgical planning tools are supporting higher adoption of intramedullary nailing. Key Takeaways The Global Intramedullary Nail Market Growth is expected to witness high, exhibiting CAGR of 8.5% over the forecast period, due to increasing incidence of bone fractures and rising number of trauma and road accident cases. Regionally, Asia Pacific is expected to exhibit the fastest growth in the intramedullary nail market during the forecast period owing to growing healthcare infrastructure, large patient pool and increasing healthcare expenditure in the region. Key players operating in the intramedullary nail market are Zimmer Biomet, Smith & Nephew, Stryker, DePuy Synthes, Orthofix, Bioventus LLC, DJO Global, Braun, Medtronic and Globus Medical. Zimmer Biomet holds the leading market share in the global intramedullary nail market, owing to its strong product portfolio and global presence. Regional analysis Asia Pacific region is expected to witness the highest growth in the intramedullary nail market during the forecast period. This can be attributed to rapidly developing healthcare infrastructure, increasing healthcare spending, growing middle class population and rising incidence of osteoporosis in the region. Key players analysis Key players operating in the intramedullary nail market are Zimmer Biomet, Smith & Nephew, Stryker, DePuy Synthes, Orthofix, Bioventus LLC, DJO Global, Braun, Medtronic and Globus Medical. Zimmer Biomet holds the leading market share in terms of revenue, owing to its robust product portfolio of intramedullary nails and global sales network. Read More - https://www.newsanalyticspro.com/intramedullary-nail-market-share-demand-analysis-size-and-trends-forecast/
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