PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1486457
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1486457
Asia Pacific Intramedullary Nails Market is valued approximately at USD 234.88 million in 2023 and is anticipated to grow with a healthy growth rate of more than 7.17% over the forecast period 2024-2032. Intramedullary nails are medical devices used in orthopedic surgery to fix long bone fractures, such as those of the humerus (upper arm bone), tibia (shin bone), and femur (thigh bone). The objective of these nails, which are placed into the bone's marrow cavity, is to stabilize and realign the broken bone pieces in order to encourage healing and restore function. The intramedullary nail is usually constructed of metal, such as titanium or stainless steel, and is available in a variety of lengths and diameters to accommodate varying bone sizes and fracture types. Once in place, this nail offers internal fixation, supporting the bone and facilitating optimal healing conditions. This approach is commonly adopted for fractures that prove too unstable for conventional casting or external fixation methods. Intramedullary nailing stands as a pivotal technique in orthopedic fracture management by promoting accelerated healing, minimizing discomfort, and enabling early movement of the affected limb. The increasing development and adoption of minimally invasive surgical techniques for intramedullary nailing is a key trend for the growth of the Asia Pacific Intramedullary Nails Market.
Asia-Pacific region is projected to experience substantial growth in their intramedullary nails markets. This growth is attributed owing to the rising healthcare spending and robust governmental backing for orthopedic advancements. Along with this, the region's rapidly aging population contributes significantly to the demand for orthopedic interventions, including intramedullary nails, as age-related fractures become more prevalent. According to The World Bank, in 2015 the total population ages 65 and above in Japan was 33,081,239 and in 2021 the number reached 36,068,144. Also, as per the World Population Ageing 2019 report, in China, the population aged above 65 years or above is projected to reach 246.98 million by 2030 from 164.48 million in 2019. Additionally, the increasing incidence of orthopedic injuries, such as fractures in long bones like the femur, tibia, and humerus, drives the adoption of intramedullary nails at a substantial rate. However, lack of skilled professionals, along with availability of alternative treatment options is anticipated to stifle market growth between 2022 and 2032.
The key Countries considered for the Asia Pacific Intramedullary Nails Market study includes China, India, Japan, South Korea, Australia and Rest of Asia Pacific. In 2023, China was the largest regional market with the highest market revenue. The rising prevalence of bone fractures, growing focus on Minimally Invasive Surgery (MIS), as well as growing domestic production capacity for intramedullary nails are the key factors that are poised to bolsters the regional market expansion during the estimated period of 2024 to 2032. Furthermore, the market in India, on the other hand, is expected to develop at the fastest rate over the forecast period.