Intramedullary Nail Market Growth Fueled By Technological Advancements In Medical Devices
Intramedullary nails are implanted in fractured long bones to realign and stabilize the bone fragments for proper healing. Made of titanium or stainless steel, these devices allow interlocking screws at both ends for fixation of bone fragments. Intramedullary nailing is a minimally invasive technique, promoting faster recovery as compared to traditional plating. Advanced nail designs have dynamic locking mechanisms and reduced intramedullary diameter for ease of insertion. Manufacturers are developing specialist instrument sets and patient-specific nail templates for precise implantation. The Global Intramedullary Nail Market is estimated to be valued at US$ 2.25 Bn in 2024 and is expected to exhibit a CAGR of 18.% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Intramedullary Nail market are SunPower Corporation, Enphase Energy Inc., iEnergy Co. Ltd., Altenergy Power System Inc., Chilicon Power, LLC, SMA Solar Technology AG, Sparq Systems, SMA Solar Technology AG, Northern Electric and Power Co. Ltd, ABB Ltd., LG Electronics, and Darfon Electronics Corporation. They are focusing on developing novel nail designs with advanced materials to widen application scope.
Growing incidences of road accidents, sports injuries, osteoporotic fractures and work-related bone injuries are driving the demand for intramedullary nails procedures. Favourable reimbursement and insurance coverage for traumatic procedures in developed nations also support market growth.
The growth of the Intramedullary Nail Market Growth is being impacted. Geographic expansion into emerging Asian and Latin American countries present lucrative opportunities for intramedullary nail manufacturers. These regions are witnessing increasing healthcare investment and rising medical tourism.
Market Drivers
Rising geriatric population prone to osteoporosis and fractures is a key growth driver. Age-related bone mineral loss increases fracture risk, augmenting the need for intramedullary nailing. As per WHO, number of people aged 65 years and above is projected to reach 1.5 billion by 2050 globally. Such demographical shifts will propel market demand.
The Asia Pacific region is anticipated to be the fastest growing market for intramedullary nails during the forecast period. This growth can be attributed to increasing investment by major industry players, rising medical tourism, growing prevalence of osteoporosis and road accidents in developing Asian countries, and improving access to modern healthcare facilities. In particular, China and India are expected to showcase high demand for intramedullary nail procedures and devices owing to their large population bases and rapid economic development.
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