February 26, 2024
Ankle Fusion Nail Market

Ankle Fusion Nail Market Is Expected to Be Flourished by Rising Demand for Minimally Invasive Surgeries

Ankle fusion nail is used for fixation during arthrodesis of the ankle joint. It is implanted across the ankle joint to fuse the tibia and talus bones for providing stability during bone fusion. Ankle fusion is generally recommended for patients suffering from ankle arthritis, bone fractures, or other conditions affecting ankle movement. The use of ankle fusion nail provides strong stabilization of the ankle during arthrodesis, allowing early weight-bearing and ambulation for patients. This minimizes post-operative immobilization and aids faster recovery.

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 demand for minimally invasive surgeries and ankle fusion nail being less invasive compared to traditional plate fixation is expected to drive the market growth over the forecast period. Minimally invasive nature of ankle fusion nails allows for reduced soft tissue dissection, decreased blood loss, and smaller scars compared to conventional open surgeries. This translates to decreased post-operative pain and faster recovery for patients.

Growing incidence of ankle fractures and ankle arthritis propelled by rising cases of obesity and sports injuries is also anticipated to boost the ankle fusion nail market. Obesity increases stress on weight-bearing joints such as ankles and predisposes individuals to osteoarthritis. Additionally, participation in recreational sports has led to high incidence of ankle sprains and fractures globally.

Segment Analysis

The global ankle fusion nail market is segmented on the basis of material, end user, and geography. Based on material, the market is segmented into titanium alloys and stainless steel. The titanium alloys segment is expected to hold the largest market share during the forecast period. Titanium alloys provide greater strength, resistance to corrosion, and are biocompatible. Based on end user, the market is segmented into hospitals, ambulatory surgical centers, and orthopedic clinics. The hospitals segment holds the largest market share due to a large number of ankle fusion procedures performed in hospitals.

Global Ankle Fusion Nail Market Segmentation

  • By Product Type
  • Uniplanar Nails
  • Multiplanar Nails
  • Others
  • By Material
  • Stainless Steel
  • Titanium
  • Others
  • By End User
  • Hospitals
  • Ambulatory Surgery Centers
  • Orthopedic Clinics
  • Others
  • By Indication
  • Osteoarthritis
  • Rheumatoid Arthritis
  • Post-traumatic Arthritis
  • Others
  • By Fixation Type
  • Tibiotalocalcaneal Fusion
  • Pantalar Fusion
  • Tibiotalar Fusion
  • Others
  • By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

PEST Analysis

Political: Government initiatives to increase awareness about ankle fusion surgeries are expected to drive the market growth. Various programs are organized for patients as well as doctors to educate them about modern surgical techniques.

Economic
: Rising healthcare expenditures and growing disposable incomes in developing countries are fueling the adoption of advanced biomedical technologies around the world. Cost-effectiveness of ankle fusion nails over other fixation devices is benefiting market revenues.

Social
: Growing geriatric population worldwide is leading to a rise in cases of osteoarthritis and other ankle-related injuries, which requires surgical intervention. Changing lifestyles have increased the risk of ankle injuries.

Technological: Advancements in material science and computer-assisted designing have enabled companies to develop innovative ankle fusion nail designs with features such as self-tapping threads, pull-out resistance grooves, and radiolucency. 3D printing is being used to manufacture patient-specific implants.

Key Takeaways

The global Ankle Fusion Nail Market Size was valued at US$ 630.5 million in 2023 and is expected to grow at a CAGR of 8.9% during the forecast period.

North America held the largest market share in 2023 owing to the strong presence of key players, rising incidence of ankle injuries, and adoption of advanced technologies in this region.

Some of the leading 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. Key players are focusing on new product launches, technological integrations, and strategic collaborations to strengthen their market position. For instance, in March 2020, Arthrex launched its new implants for ankle fusion surgery including Intramedullary Nails and Screws with integrated locking technology to provide stability and fixation.

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.

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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

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*Note:
1.       Source: CoherentMI, Public sources, Desk research
2.       We have leveraged AI tools to mine information and compile it