Intramedullary
Nails Market: Introduction
According to the report,
the global intramedullary nails market was valued
at US$ 0.73 Bn in 2019 and is projected to expand at a CAGR of ~5% from
2020 to 2030. Intramedullary fixation is valuable and appropriate for majority
of fractures. With newer nail designs and attention to technique, nailing can
be extended to both proximal and distal extra articular fractures. One
potential complication of intramedullary nailing after a fracture is bone
malrotation, where the broken bone is fixated out of alignment and heals
incorrectly, causing a rotated limb. In terms of type, the global
intramedullary nails market has been classified into long gamma nail (LGN),
trochanteric femoral nail (TFN), intertroch/subtroch nail (ITST), and others.
Based on material, the
global intramedullary nails market has been bifurcated into titanium and
stainless steel. In terms of application, the global intramedullary nails
market has been divided into femoral fracture, tibial fracture, and others.
Based on end user, the global intramedullary nails market has been categorized
into hospitals & ambulatory surgical centers and specialty/orthopedic
clinics. Increase in incidence of injuries/sports injuries and surge in
geriatric population augment the global intramedullary nails market. North
America dominated the global intramedullary nails market in 2019 and the trend
is anticipated to continue during the forecast period.
Asia Pacific is likely to
be a highly lucrative market for intramedullary nails during the forecast
period. Increase in incidence of trauma cases drives the intramedullary nails
market in the region. The country’s high market share can be attributed to
faster adoption of products to treat diseases and surge in geriatric
population.
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Increase in
Incidence of Injuries/Sports Injuries to Drive Market
Increase in incidence of
spinal injuries, sports injuries, and trauma across the globe is a key driver
of the global intramedullary nails market. Road accidents and violence are the
most common causes of spinal injuries besides slips, falls, and industrial
accidents. These lead to hospitalization and permanent disability for thousands
of individuals each year. According to the World Health Organization (WHO),
every year, around 250,000 to 500,000 individuals suffer from spinal cord
injury. Majority of these injuries is from preventable causes such as road
traffic crashes, falls, or violence. The most common sports injuries include
fractured wrists, hands, collarbones, and bones in the ankle and feet. Stress
fractures are quite common in sports, which involve repetitive movements; long
distance runners often suffer from stress fractures in the foot.
According to the
Fédération Internationale de Football Association (FIFA), the ankle, knee, and
hamstring incur the most orthopedic injuries. Ankle sprain is the single most
common injury in football. The recent data from the U.S. Department of Health
and Human Services indicated that an estimated 8.6 million sports injuries
occur each year globally.
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Long Gamma
Nail to Dominate Global Market
In terms of type, the
global intramedullary nails market has been classified into long gamma nail
(LGN), trochanteric femoral nail (TFN), intertroch/subtroch nail (ITST), and
others. The long gamma nail segment dominated the market in terms of revenue in
2019. Long gamma nail has proven to be safe and efficient implant for the
treatment of pertrochanteric fractures. Its improved biomechanical
characteristics has led to a significant decrease in complication rates.
Femoral Fracture
to be Main Application Area
In terms of application,
the global intramedullary nails market has been categorized into femoral
fracture, tibial fracture, and others. The femoral fracture segment dominated
the market in terms of revenue in 2019. Incidence of femoral shaft fractures
ranges from of 9.5 to 18.9 per 100,000 globally
each year. Nearly 250,000 proximal femur fractures occur in
the U.S. every year. This number is anticipated to double by 2050. A study
published in the Journal of Orthopedic Trauma in 2011 estimated the rate of
femoral shaft fractures to be between 10 and 20 per 100,000 people
annually.
Titanium
to Generated Significant Revenue
Based on material, the
global intramedullary nails market has been bifurcated into titanium and
stainless steel. The titanium segment generated significant revenue in 2019.
Titanium implants cause less stress shielding and are less prone to fatigue
failure, which is expected to drive the segment during the forecast period.
Rise in the number of new product launches by major players as a result of
research and development to improve product technology is likely to result in
an increase in market share of the segment in 2030.
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Hospitals &
Ambulatory Surgical Centers to be Key End Users
Based on end user, the
global intramedullary nails market has been divided into hospitals &
ambulatory surgical centers and specialty/orthopedic clinics. The hospitals
& ambulatory surgical centers segment dominated the global intramedullary
nails market in 2019. The growth of the segment can be attributed to factors
such as rise in the rate of hospitalization for orthopedic disorders and wide
range of services offered by hospitals at a single site. However, rise in
hospitalization costs and changes in reimbursement models are projected to
hamper the growth of the segment during the forecast period.
North America to
Dominate Global Market
The global intramedullary
nails market has been divided into five major regions: North America, Europe,
Asia Pacific, Latin America, and Middle East & Africa. North America
dominated the global market in 2019, followed by Europe. North America is
anticipated to dominate the global market during the forecast period, owing to
significant average selling prices of orthopedic devices, rise in demand from
surgeons for technologically advanced orthopedic devices with enhanced lifetime
and precision, and favorable coverage for orthopedic procedures in the region.
The intramedullary nails market in Asia Pacific is likely to expand at a high
CAGR from 2020 to 2030. Large population base, increase in incidence of
orthopedic diseases, and growth in economy of China, India, and others
countries in Southeast Asia have led to high per capita healthcare expenditure.
This is projected to drive the intramedullary nails market in the region.
Competition
Landscape
Johnson & Johnson,
Stryker, and Smith & Nephew are the three major companies operating in the
global intramedullary nails market. The global intramedullary nails market is
fragmented in terms of number of players. Key players in the global market
include Stryker, B. Braun Melsungen AG, Zimmer Biomet, Smith+Nephew,
Johnson & Johnson, Orthopaedic Implant Company, Orthofix Holdings, Inc.,
Wright Medical Group N.V., Advanced Orthopaedic Solutions, Aysam Ortopedi &
Tibbi Cihazlar, MEDIN, a.s., and GPC Medical USA, Inc. New product
development through robust R&D and mergers & acquisitions are the key
strategies adopted by these players in the global intramedullary nails market.
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