Global Ankle Fusion Nail Market is Anticipated to Witness High Growth Owing to Increasing Cases of Ankle Injuries
The global ankle fusion nail market comprises medical devices that are used to join two or more bones of the ankle joint together. Ankle fusion nails provide stability to the ankle joint after ankle fractures and allow early weight-bearing and mobility. They are made of bio-compatible metals such as stainless steel or titanium and have self-tapping screw threads that allow easy insertion into the ankle bones for fixation. Ankle fusion nails are designed to provide compression across the fusion site to aid bone healing. The growing prevalence of ankle fractures due to various reasons such as sports injuries, road accidents, and osteoporosis is a key factor driving the demand for ankle fusion nails globally.
The Global Ankle Fusion Nail Market Size is estimated to be valued at US$ 630.5 Mn in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024-2031.
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 LifeSciences, and Orthofix Medical Inc. Acumed LLC leads the ankle fusion nail market with over 20% market share owing to its wide product portfolio and global sales footprint.
The key opportunities in the ankle fusion nail market include the increasing adoption of bio-absorbable ankle fusion nails, minimally invasive placement techniques, and the development of 3D-printed patient-specific ankle fusion nails. Geographically, North America represents around 40% of the global ankle fusion nail market currently. However, the Asia Pacific region is expected to offer lucrative growth opportunities over the forecast period with growing medical infrastructure and increasing healthcare spending in countries like China and India.
Market Drivers and Restrains
The primary driver for the growth of the global ankle fusion nail market is the rising geriatric population which is more prone to ankle injuries due to weaker bones. According to national data, the number of individuals aged over 65 years is projected to double from 52 million to over 95 million between 2015 and 2060 in the United States alone. This substantial increase in the geriatric population base will augment the demand for various orthopedic implants including ankle fusion nails. However, the high cost of minimally invasive ankle fusion procedures and reimbursement issues in some developing regions are key challenges restraining the market growth. Additionally, metal sensitivity responses andLoosening issues with some fusion nails also hinder their widespread adoption.
Segment Analysis
The global ankle fusion nail market is dominated by the stainless-steel sub-segment. Stainless steel is the most commonly used material for manufacturing ankle fusion nails as it provides high strength and rigidity required during ankle fusion. Stainless steel has great compressive strength and resistance to corrosion which reduces the risk of implant failures. Titanium alloy sub-segment is expected to grow at a rapid pace during the forecast period. Titanium alloy has high biocompatibility and allows bone ingrowth between the implant and bone. It does not induce toxic or allergic reactions within the body.
Global Analysis
North America dominates the global ankle fusion nail market and is expected to continue its dominance during the forecast period. High prevalence of ankle injuries due to increasing sports and outdoor recreational activities, rising obese population, and growing number of trauma cases are some major factors attributing to the large share of North America. Additionally, well-established healthcare infrastructure, advanced surgical treatments, and favorable reimbursement policies are supporting the market growth in the region. Asia Pacific exhibits immense growth opportunities owing to increasing healthcare spending, rising awareness regarding ankle fusion surgeries, and growing geriatric population. Japan, China, and India are anticipated to be the fastest growing regional markets in Asia Pacific.
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's growth between 2024 and 2031.
:- Accurate calculation of the size of the Global Ankle Fusion Nail and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Global Ankle Fusion Nail 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 vendors
FAQ’s
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About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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