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:
Intramedullary nailing is a surgical procedure used to repair broken long bones, such as the femur, tibia, and humerus. It involves inserting a metal nail into the medullary cavity of the broken bone to fix the fracture internally. Intramedullary nails provide tremendous stability to fractures and allow early mobilization. They help in faster healing and recovery as compared to other fixation methods like plates and screws. The procedure is minimally invasive and preserves blood supply to the bone.
Market key trends:
One of the key trends in the intramedullary nail market is the growing demand for customized implants. Manufacturers are focusing on developing customized intramedullary nails tailored to the specific anatomical needs of patients. This involves 3D printing and development of patient-specific nails based on pre-operative CT or MRI scans. Customized nails provide a better fit and stability to fractures compared to standard nails. Their usage is increasing in complex fractures involving deformities or osteoporotic bones where a high level of precision is required. This trend is expected to continue and drive the demand for intramedullary nails over the forecast period.
Porter's Analysis
Threat of new entrants: Low capital requirements and well established buyers limit the threat of new entrants in the Intramedullary Nail Market.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitute products and pricing pressure from group purchasing organizations.
Bargaining power of suppliers: A few large companies dominate the supply market for raw materials of intramedullary nails increasing their bargaining power over Intramedullary Nail manufacturers.
Threat of new substitutes: There exists low to moderate threat of substitution by alternative bone fracture fixation devices like external bone plate.
Competitive rivalry: The global Intramedullary Nail Market is highly competitive due to presence of major players and their intense rivalry based on product differentiation and pricing.
Key Takeaways
The Global Intramedullary Nail Market Demand is expected to witness high growth, exhibiting CAGR of 8.5% over the forecast period, due to increasing prevalence of bone fractures and sports injuries. North America is expected to dominate the Intramedullary Nail Market during the forecast period owing to favorable reimbursement policies 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, Globus Medical.
The Intramedullary Nail Market in the Asia Pacific region is projected to grow at the fastest CAGR during the forecast period due to increasing healthcare expenditure, rising awareness regarding intramedullary nailing procedures, and growing geriatric population in China and India.
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 dominate the global market for intramedullary nails owing to their wide product portfolios and strong distribution networks across the world.
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