by Intramedullary nailing or intramedullary rodding involves surgically inserting a metal nail or screw into the hollow center of the bone known as the medullary canal. Intramedullary nails are commonly used to repair fractures of long bones such as the femur, tibia and humerus. It involves less postoperative pain and blood loss compared to conventional plating techniques and allows early mobility. Intramedullary nails are inserted after re-aligning the bone fragments. Based on the fracture type, various types of nails are used including solid femoral nails, humerus nails, tibial nails and femoral locking nails. It finds application inroad accident injuries, sports injuries and fractures caused by bone diseases or weaknesses.
The global 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 Dynamics:
One of the major drivers fueling growth of the intramedullary nail market is the rising number of road accidents worldwide. As per the World Health Organization (WHO), yearly around 1.3 million people die globally due to road traffic crashes. Road traffic injuries cause around 20-50 million non-fatal injuries each year. Majority of these accidents result in fractures, especially of the long bones which require treatment through techniques like intramedullary nailing. The key advantages offered by intramedullary nailing like less damage to soft tissues, early mobility and reduced recovery time make it a preferred choice over open reduction and plating.
Another driver for the intramedullary nail market is the growing demand for minimally invasive surgical techniques. Intramedullary nailing allows fixation of fractures through small incisions rather than the extensive soft tissue dissection required in plating. This translates to minimal blood loss, less postoperative pain and reduced scarring. The precision and stability offered by latest generation intramedullary nails is enabling their usage in fractures which were earlier treated with plates and screws. Higher success rates along with reduced risk of malunion and non-union make intramedullary nailing a popular choice among orthopedic surgeons and patients.
Segment Analysis
The global intramedullary nail market can be segmented into two key segments:
– Locking intramedullary nails: This segment currently dominates the market and is expected to continue its dominance over the forecast period. Locking nails provide improved fixation and stability to fractures and are widely used in trauma surgeries.
– Non-locking intramedullary nails: This segment has a lower market share compared to locking nails. Non-locking nails are used for fixation of fractures where stability is not a major concern.
Pest Analysis
Political: Governments in various countries are taking initiatives to raise awareness about orthopedic injuries and associated treatments. This is positively impacting the market. (250 words)
Economic: Rising healthcare spending coupled with growing per capita incomes is fueling the demand for advanced intramedullary nail procedures. Developing economies are witnessing higher economic growth and this is augmenting the market size.
Social: Changing lifestyles with increasing risk of fractures and injuries due to road accidents or trauma is benefiting the market. Growing geriatric population also contributes to market growth.
Technological: Innovations in nail designs, materials and techniques are driving the adoption of intramedullary nailing. Features like telescopic nails allow for growth adjustments in children without further surgery.
Key Takeaways
The Global Intramedullary Nail Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2023 is estimated to be US$ 1.95 Bn. (400 words)
Regional analysis: North America currently dominates the global intramedullary nail market owing to rapid adoption of advanced technologies and presence of major players. Asia Pacific is expected to witness the highest growth fueled by improving access to healthcare and increasing spending. Growing trauma and accident cases are major factors for the fast growth of the market in the region.
Key players: Key players operating in the intramedullary nail market are Zimmer Biomet, Smith & Nephew, Stryker, DePuy Synthes, Orthofix, Bioventus LLC, DJO Global, Braun, Medtronic, Globus Medical. Zimmer Biomet and Stryker capture major market share due to their extensive product portfolios and global presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
