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Kirschner wire, commonly referred to as K-wire, is a thin surgical stainless steel wire used to hold together fractured bones or aid in surgical procedures like pinning of small bone fragments. K-wires are implanted using minimally invasive techniques into the medullary cavity to fix fractures or tie together bone fragments. This allows the bone to heal in a stable position without cast immobilization. Factors such as increasing incidence of bone fractures due to accidents and sports injuries, rising geriatric population, and growing number of orthopedic surgeries are fueling adoption of K-wires. However, complications associated with K-wire such as migration, breakage, and infection are limiting industry growth to some extent.
The Kirschner Wire Market is estimated to be valued at US$ 2,135.2 Mn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the Kirschner Wire Market are Stryker Corporation, Paragon 28 Inc, Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, Orthofix Medical Inc., Smith & Nephew plc, Medline Industries, Inc., Becton, Dickinson and Company, DePuy Synthes Companies (a subsidiary of Johnson & Johnson), Arthrex, Inc., Wright Medical Group N.V., Integra LifeSciences Corporation, KLS Martin Group, Acumed LLC and GPC Medical Ltd.
The growing demand for procedures like arthrodesis, fracture repair, and osteotomy owing to rising sports injuries and trauma cases is driving the market. According to the National Safety Council, fall injuries accounted for over 8.9 million injuries in the U.S. in 2020.
Major players are focusing on expansion into emerging markets of Asia Pacific and Latin America. For instance, in October 2021, Integra Lifesciences launched its Revolution bone wire product line in Japan and Austria to strengthen its global footprint.
Market Key Trends
There is an increasing demand for bioabsorbable K-wires made from polymers such as polylactic acid (PLA) and polyglycolic acid (PGA). Bioabsorbable wires dissolve gradually after bone healing and avoid complications from removal surgeries for metallic wires. For example, orthopedic solution provider, Teknimed offers bioabsorbable pins and wires made from biocomposite polymers for pediatric surgery. With growing awareness, bioabsorbable wires are expected to gain market share in the coming years. Another trend is the development of coated and drug-eluting K-wires that can deliver antibiotics locally and prevent infections. For instance, Aap Implantate has developed resorbable gentamicin-coated K-wires to tackle risks of osteomyelitis and implant related infections.
Porter’s Analysis
Threat of new entrants: Low requirement for large capital for investment. Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of alternative products in the market. Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of alternative suppliers in the market. Threat of new substitutes: Threat of new substitutes is moderate as new advanced fixation devices are entering the market every year. Competitive rivalry: High degree of competition due to presence of global as well as regional players.
The Kirschner wire market in North America is estimated to hold the largest share in terms of value during the forecast period. North America is considered as the most attractive market for manufacturers due to the developed healthcare infrastructure, availability of advanced treatment options and high acceptance of technologically advanced products in the region.According to analysis, Asia Pacific region is anticipated to witness the fastest growth over the forecast period due to increasing awareness about surgical procedures, growing healthcare expenditure and rising number of manufacturers investing in developing countries.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
