Ankle Fusion Nail Market Is Estimated To Witness High Growth Owing To Rising Cases Of Ankle Injuries

Ankle Fusion Nail Market Is Estimated To Witness High Growth Owing To Rising Cases Of Ankle Injuries

Ankle fusion nail is a nail inserted into the tibia and talus bones to fuse them together after undergoing ankle fusion surgery. Ankle fusion is commonly performed to relieve pain caused by advanced ankle arthritis or deformities that cannot be corrected with other procedures. The nail works by holding the bones in proper alignment and position as the fusion heals. Key applications of ankle fusion nails include treatment of ankle arthritis, post-traumatic arthritis, rheumatoid arthritis of the ankle, congenital deformities, and chronic ankle instability.

The global ankle fusion nail market was valued at US$ 630.5 Mn in 2023 and is expected to exhibit a CAGR of 8.9% over the forecast period 2023-2030, as highlighted in a new report published by CoherentMI.

Market Dynamics

Rising cases of ankle injuries and subsequent development of ankle arthritis requiring surgical intervention is one of the key drivers of growth of the ankle fusion nail market. According to the American Academy of Orthopaedic Surgeons (AAOS), ankle sprains are the most common sports-related injuries with over 25,000 occurring daily in the U.S. Recurrent sprains can lead to degenerative changes in the ankle joint over time, resulting in post-traumatic ankle osteoarthritis in nearly 15% of patients within 10 to 20 years of the initial injury. This is expected to increase demand for ankle fusion surgery and associated nail systems over the forecast period. Additionally, growing obese population is another factor fueling market growth as excess weight increases stress on weight-bearing joints like the ankle and exacerbates conditions like osteoarthritis. According to the Centers for Disease Control and Prevention, obesity rates in the U.S. stood at 42.4% in 2017-2018. The above mentioned drivers are expected to significantly drive the ankle fusion nail market during the forecast period.

Global Ankle Fusion Nail Market Segmentation

·         By Product Type

o   Uniplanar Nails

o   Multiplanar Nails

o   Others 

·         By Material

o   Stainless Steel

o   Titanium

o   Others 

·         By End User

o   Hospitals

o   Ambulatory Surgery Centers

o   Orthopedic Clinics

o   Others 

·         By Indication

o   Osteoarthritis

o   Rheumatoid Arthritis

o   Post-traumatic Arthritis

o   Others 

·         By Fixation Type

o   Tibiotalocalcaneal Fusion

o   Pantalar Fusion

o   Tibiotalar Fusion

o   Others 

·         By Region

o   North America

o   Europe

o   Asia Pacific

o   Latin America

o   Middle East

o   Africa

SWOT Analysis

Strength: The ankle fusion nail market offers a minimally invasive surgical procedure that aids faster recovery for patients undergoing ankle fusion surgery. Ankle fusion nails provide stable fixation of the ankle joint and allow early weight bearing. They help restore joint congruity and facilitate proper fusion of the ankle bones.

Weakness: High costs associated with ankle fusion nail surgeries can limit their adoption, especially in price sensitive markets. Post-surgery complications like non-union of bones, mal-union, and infections also pose challenges.

Opportunity: Rising prevalence of ankle fusion procedures due to obesity, sports injuries, and bone fractures present opportunities for market growth. Increasing awareness about advanced internal fixation technologies can boost the demand for ankle fusion nails.

Threats: Availability of alternative treatment options like external fixators pose competition to ankle fusion nails. Stringent regulatory approvals for new product launches is another threat for companies.

Key Takeaways

The global Ankle Fusion Nail Market Size is expected to witness high growth over the forecast period of 2023-2030. The market value is projected to grow from US$ 630.5 Mn in 2023 to cross US$ 1,100 Mn by 2030, registering a CAGR of 8.9%.

Regional Analysis

North America dominates the ankle fusion nail market currently and is expected to maintain its lead through 2030. High prevalence of ankle injuries due to sports and road accidents coupled with rising obesity in the region drives the market growth. The Asia Pacific region is projected to witness the fastest growth during the forecast period supported by growing medical tourism, increasing healthcare spending, and large patient population.

Key Players

Key players operating in the 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 commands the major market share currently, supported by its extensive product portfolio and strong regional presence. Other players use strategies like new product launches and mergers & acquisitions to strengthen their market position.

Reasons to Purchase Ankle Fusion Nail Market Report:

1. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

2. Develop/modify business expansion plans by using substantial growth offerings in developed and emerging markets.

3. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Ankle Fusion Nail Market.

FAQ’s

Q.1 What will the market development pace of the Ankle Fusion Nail Market?

Q.2 What are the sales, revenue, and price analysis of the top players of the Ankle Fusion Nail Market?

Q.3 What are the market opportunities and threats faced by the vendors in the Ankle Fusion Nail Market?

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