The Global Ankle Fusion Nail Market Poised To Reach New Heights Owing To Rising Geriatric Population
The Global Ankle Fusion Nail Market is primarily engaged in the manufacturing and distribution of intramedullary nails used for ankle fusion surgery. These nails are made of stainless steel or titanium and inserted inside the medullary canal of the tibia and talus to fuse the ankle joint. Ankle fusion nails provide stability to the joint and allow early weight bearing post-surgery. The procedure is commonly performed to treat arthritis, instability, trauma, and inflammatory joint diseases.
The Global Ankle Fusion Nail Market Size Is Estimated To Be Valued At Us$ 630.5 Million In 2024 And Is Expected To Exhibit A Cagr Of 8.9% Over The Forecast Period 2023-2030.
Rising incidence of ankle fractures due to road accidents and sports injuries along with the growing geriatric population prone to osteoarthritis is expected to drive the demand for ankle fusion surgeries and consequently ankle fusion nails. Ankle fusion is a commonly performed procedure for end-stage ankle arthritis when other conservative treatments fail to provide relief from pain. The procedure leads to early mobilization and avoids future replacements.
Key Takeaways :
Key players operating in the Global Ankle Fusion Nail Market are Acumed LLC, Arthrex Inc., Stryker Corporation, Smith & Nephew Plc, Wright Medical Group N.V., Zimmer Biomet Holdings Inc., Integra Life sciences, And Orthotic Medical Inc. Stryker Corporation dominated the market with over 20% market share in 2023 due to its wide product portfolio and strong distribution network.
The market is witnessing increased demand for ankle fusion surgeries owing to rising trauma cases and growing geriatric population suffering from osteoarthritis. According to the United Nations, over 23% of the global population will be over the age 60 by the year 2050, thus creating a substantial patient pool for orthopaedic procedures including ankle fusions.
Manufacturers are investing in device development and launching new ankle fusion nails integrated with advanced technologies such as 3D printed implants, robot-assisted surgeries, and bioresorbable implants. Such innovations are expected to improve surgical outcomes, reduce operation time, and drive the adoption of ankle fusion nails.
Market Trends:
Increasing adoption of minimally invasive techniques: With the advantages of smaller incisions, reduced blood loss, and shorter hospital stays, the adoption of minimally invasive ankle fusion procedures using percutaneous techniques is growing. This is expected to positively impact the ankle fusion nail market.
Rise in bioabsorbable implants: Leading players are focused on developing next-gen implants made of bioresorbable materials such as PLA and metals that degrade and dissolve in the body over time eliminating the need for implant removal surgery.
Market Opportunities:
Tapping opportunities in emerging economies: Players should focus on countries in Asia Pacific and Latin America with growing orthopaedic devices industry and huge patient population to boost sales.
Leveraging latest technologies: Integration of ankle fusion nails with robotics, 3D printing, AI, and block chain could create unique value propositions to improve clinical outcomes and drive adoption.
Impact Of COVID-19 On Global Ankle Fusion Nail Market Growth:
The COVID-19 pandemic has significantly impacted the growth of the Global Ankle Fusion Nail Market. In the initial months of the pandemic, most elective surgeries were postponed to avoid unnecessary hospital visits and focus resources on critical COVID-19 patients. This led to a steep decline in ankle fusion procedures during 2020 and 2021. However, as the pandemic is brought under control with increased vaccination rates, the demand for ankle fusion is recovering. Still, supply chain disruptions and staffing shortages in the healthcare sector continue to pose challenges. Post-COVID, there is expected to be pent-up demand for ankle fusion surgeries from the backlog. Manufacturers will need to ramp up production while ensuring worker safety. Telemedicine can help provide follow-up care to post-operative patients remotely.
Geographical Regions With Highest Value Share In Global Ankle Fusion Nail Market :
North America currently dominates the Global Ankle Fusion Nail Market in terms of value, owing to the high incidence of ankle fractures in the US and Canada. Availability of advanced healthcare infrastructure and favourable reimbursement policies support market growth. The rising geriatric population also contributes as ankle injuries are more common in the elderly. Additionally, growing patient awareness about treatment options and presence of leading manufacturers in the region drive the North American market.
Fastest Growing Regional Market For Global Ankle Fusion Nail :
Asia Pacific is poised to register the fastest growth in the Global Ankle Fusion Nail Market over the forecast period. This is attributed to improving healthcare infrastructure, rising medical tourism, increasing spending capacity of the large middle-class population and focus of international players on expanding presence in emerging countries like India and China. The growing elderly demographic also present strong growth opportunities. Additionally, supportive government policies around healthcare modernization will aid the Asia Pacific ankle fusion nail market expansion.
What are the key data covered in this Global Ankle Fusion Nail Market report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Global Ankle Fusion Nail Market's growth between 2024 and 2031.
:- Accurate calculation of the size of the Global Ankle Fusion Nail Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behavior
:- Global Ankle Fusion Nail Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Global Ankle Fusion Nail Market vendors
FAQ’s
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Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Global Ankle Fusion Nail Market companies compare in terms of sales, revenue, and prices?
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