July 21, 2024
Intramedullary Nail Market

The Global Intramedullary Nail Market Is Estimated To Witness High Growth Owing To Increasing Sports Related Injuries

Key Takeaways

The Global Intramedullary Nail Market Growth is expected to witness high, exhibiting a CAGR of 8.5% over the forecast period, due to increasing incidence of fractures caused by road accidents, falls and aging population.

Regional analysis: North America dominates the global market due to high prevalence of osteoporosis and hip fractures, robust healthcare infrastructure and reimbursement policies. Asia Pacific is expected to register fastest growth owing to rising healthcare spending, large patient pool and improving accessibility of specialized treatments.

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.

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 Overview

An intramedullary nail is a surgical implant that is inserted into the medullary cavity (inside channel of long bones like femur, tibia, and humerus) of bones to align and stabilize fractures. These nails help in re-aligning and securing broken bones and promote faster healing. They are commonly used for bone fractures resulting from high-energy injuries due to vehicular accidents, fall from height, and sports-related injuries.

Market Dynamics

Increasing sports related injuries are estimated to be a major driver for the growth of the global Intramedullary Nails Market over the forecast period. According to the National Health Interview Survey in the U.S., the prevalence of sports and recreation related injuries treated in emergency departments increased by 28% from 1992 through 2006, with the highest proportions occurring in football, basketball, baseball or softball. Participation in contact and high-velocity sports puts athletes at higher risk of severe lower extremity fractures. In addition, rising number of orthopedic surgeries owing to growing geriatric population is also fueling the market growth. For instance, according to the American Academy of Orthopaedic Surgeons, more than 745,000 hip fracture repairs take place every year in the United States, and this number is expected to rise 30% by 2030 due to the aging population. The osteoporosis-related bone fractures in aged population is further expected to boost demand for intramedullary nail procedures.

SWOT Analysis

Strength: Intramedullary nails offer strong mechanical fixation of fractures and allow weight bearing after surgery as compared to plates. They provide anatomical reduction of fractures and allow for minimally invasive surgery. The nail acts as an internal splint and maintains the alignment and length of the fractured bone during healing.

Weakness: Intramedullary nail surgeries require expertise and technical skill. Placement of the nails inside the marrow cavity increases the chances of iatrogenic fractures and blood vessel injury. Nails can migrate from their position and cause malunion or non-union of fractures over time.

Opportunity: Rising number of road accidents, sports injuries and ageing population increasing bone fractures augments the demand for intramedullary nail procedures. Modern IM nails with targeting devices allow for precise insertion and improve patient outcomes.

Threats: Availability of alternative treatment options like locked plating threatens the market. Stiff competition from established players and new local entrants keeps pricing and profit margins under pressure.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it