April 16, 2024
Intramedullary Nail Market

The Global Intramedullary Nail Market is driven by Rising Orthopedic Surgeries

Intramedullary nails are metallic implants inserted into the medullary canal of long bones to stabilize bone fragments resulting from fractures. They are commonly used in fractures of femur, tibia, and humerus. Intramedullary nailing is a minimally invasive surgical technique that offers benefits such as preservation of fracture hematoma, early mobilization, and shorter hospital stay compared to plate osteosynthesis. The procedure has gained popularity for treating unstable fractures with pieces of bone out of alignment or multiple bone fragments. Factors such as increasing incidence of bone fractures owing to rising road accidents and falls, growth in elderly population prone to fractures, and rising number of orthopedic surgeries are propelling the demand for intramedullary nails globally.

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 key trends:
An emerging trend gaining traction in the intramedullary nail market is the development of robotic surgical systems. Robotic orthopedic surgery provides advantages such as increased precision, smaller incisions, less pain and blood loss, and faster recovery compared to conventional open surgeries. Companies such as Zimmer Biomet and Stryker have introduced robotic platforms that aid in fracture reduction and nail insertion. For instance, Stryker’s Mako SmartRobotics is an interactive robotic-arm assisted surgical platform that uses 3D CT scans and robotic technology to help surgeons optimally plan and place intramedullary nails and screws during trauma reconstruction surgeries with increased accuracy and precision. Development of such innovative technologies is expected to offer new growth opportunities for players in the intramedullary nail market during the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the intramedullary nail market is moderate. Establishing manufacturing facilities requires high capital investment and obtaining regulatory approvals is a lengthy process, increasing barriers to entry.

Bargaining power of buyers: The bargaining power of buyers in the intramedullary nail market is moderate. The availability of substitutes increases buyers’ bargaining power to some extent. However, customized systems for complex fractures limit switching to alternative options.

Bargaining power of suppliers: The bargaining power of suppliers is moderate. Raw material suppliers have some control over pricing but the availability of substitutes prevents the exercise of strong bargaining power.

Threat of new substitutes: The threat of substitutes is moderate. Plate fixation systems are substitutes but intramedullary nails have advantages for certain fractures. New technologies like magnetic nails offer some substitution threat.

Competitive rivalry: The intramedullary nail market witnesses high competition due to the presence of numerous global and regional players. Companies compete based on product innovation, quality, and pricing.

Key Takeaways

The Global Intramedullary Nail Market Size is expected to witness high growth over the forecast period. Regionally, North America is expected to dominate the market due to rapid adoption of novel intramedullary nails and growing geriatric population undergoing hip and femur surgeries. Asia Pacific is likely to witness fastest growth owing to increasing healthcare investments, rising medical tourism, and growing incidence of trauma cases.

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. Companies are focusing on new product launches and geographical expansion to strengthen their market positions. Stryker launched TRIGENĀ® Intertrochanteric Nail system combining intramedullary nailing with minimally invasive techniques in 2021.

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