Number of pages: 100 | Report Format: PDF | Published date: March 29, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global femoral nail system market is expected to register a revenue CAGR of 5.8% by 2031.
A femoral nail system is an orthopedic implant that is used to treat fractures in the femur. The nail systems are designed to provide stability and support to the fractured bone, allowing it to heal properly. Femoral nail systems are typically used to treat complex fractures, such as those that occur in high-energy trauma, such as car accidents or falls from heights. The nail systems are an effective and safe treatment option for femoral fractures, with high success rates and low complication rates. Moreover, the femoral nail system market within orthopedic implants is considered an emerging area. This is because, recently, a surge has been noticed in the aging population suffering from osteoarthritis and osteoporosis, which are more prone to femoral fractures.
As new techniques and innovations are developed to enhance patient outcomes and reduce issues, the market for femoral nail systems is projected to experience ongoing expansion and innovation. The market for minimally invasive femoral nail systems is expected to rise as patients seek procedures with shorter recovery periods and fewer complications. As a result of this tendency, manufacturers are expected to create new goods with smaller incisions and less tissue damage. Moreover, as new materials and coatings are developed, femoral nail systems are likely to become even more durable and resistant to wear and tear. New materials may also reduce the risk of complications such as infection and implant failure.
As healthcare providers seek to deliver more cost-effective care, there may be a greater focus on outcomes-based reimbursement models. This could drive the development of femoral nail systems that offer better long-term outcomes and fewer complications, as well as products that are more efficient and inexpensive.
The key factor increasing the global femoral nail system market revenue is its rising incidences of trauma and accidents, falls and heights, and sports injuries. According to the Injury Facts, 3.2 million persons need in 2021 suffered from injuries sustained while using sporting and leisure equipment. Moreover, it is expected that the incidence rate in future years will increase as the number of people participating in sports and physical activity in increasing. This is particularly true for high-impact sports such as running, jumping, and gymnastics, which can place significant stress on the femur bone and surrounding muscles.
The durability, adaptability, and efficacy of femoral nail systems for treating complex fractures have improved with the development of new implant materials and designs. Innovation with specialized locking mechanisms, modular parts, and other features that can enhance patient outcomes and lower complications has been launched by top players. Additionally, the use of computer-assisted technology has improved the precision and accuracy of the placement of femoral nails, leading to shorter recovery times and greater patient mobility. Because of these innovations, orthopedic surgeons prefer using femoral nail systems to treat femur fractures.
The increasing launch of novel femoral nail systems by top players is increasing the revenue growth of the global femoral nail system market. For instance, In August 2021, Stryker launched its T2 Alpha femur retrograde nailing technology. The system was created by Kalamazoo, Michigan-based Stryker as a data-driven nail design with a cutting-edge locking screw option for axial stability. It is anticipated that many top players will increasingly launch new femoral nail systems, increasing competition among manufacturers in the forecast years. This can lead to further innovation and better treatment outcomes as manufacturers strive to differentiate their products and offer new and improved features to stay competitive.
However, the popularity of alternative treatments, such as external fixation and intramedullary nailing for femoral fractures, is a major restraining factor for the global femoral nail systems market revenue growth. Additionally, the high cost associated with femoral nail systems and the lack of advanced healthcare standards in low-income nations such as the Middle East and Africa can also limit the market revenue growth. The femoral nail system market in the Middle East and Africa has moderate growth due to the lack of awareness among healthcare professionals and patients about the benefits of using these devices. Additionally, the high cost of these implants and the lack of favorable reimbursement policies can impede the global femoral nail system market.
The global femoral nail system market is analyzed from three perspectives: patient type, indications, and region.
Femoral Nail System Market by Patient Type
Based on patient type, the global femoral nail system market is segmented into pediatric and adults.
The adult segment has dominated the global femoral nail system market. In adults, femoral fractures are typically caused by high-energy trauma, such as motor vehicle accidents, falls from a height, or sports injuries. However, they can also occur as a result of low-energy trauma, such as a slip or trip. Moreover, one of the main reasons why adults are more susceptible to femoral fractures is due to age-related changes in bone density and strength. With advancing age, the risk of developing musculoskeletal degeneration, such as osteoporosis, increases, thereby augmenting the risk of femoral fractures from falls.
Additionally, older adults may have underlying medical conditions that increase their risk of falls and subsequent fractures. According to Medscape, femoral shaft fractures occur between 9.5 and 18.9 times per 100,000 people each year. In children femoral fractures in children can be caused by a variety of factors, including falls, sports injuries, and car accidents. Treatment options depend on the severity of the fracture and may include casting, traction, or surgery.
Femoral Nail System Market by Indications
Based on indications, the global femoral nail system market is segmented as spiral or transverse fracture, comminuted fracture, and open fracture.
The spiral or transverse fracture segment accounts for the majority of the global femoral nail systems market revenue share. This is major because spiral or transverse fracture is the most common type of fracture. The spiral or transverse fractures are high-energy injuries to the femur that are linked to ipsilateral femoral neck fractures and potentially fatal injuries (pulmonary, brain). Transverse or spiral femoral fractures in the femur occur more frequently in elderly individuals due to age-related changes in bone density and increased risk of falls. Additionally, certain medical conditions such as osteoporosis and cancer can further increase the risk of transverse or spiral femoral fracture. Femoral nailing system has been widely used in the treatment of transverse or spiral femoral fractures due to its high efficacy and low complication rates. Femoral nailing system is performed with a minimally invasive surgical technique that provides stable fixation of transverse or spiral femoral fractures, allowing for early mobilization and reducing the risk of complications. Additionally, this technique has been shown to result in faster healing times and improved patient outcomes compared to traditional open surgery.
Femoral Nail System Market by Region
Based on the region, the global femoral nail system market is segmented into North America, Europe, Asia Pacific, Latin America, & the Middle East & Africa.
North America dominated the global femoral nail system market with the largest revenue share. The femoral nailing systems market in North America is expected to experience a significant rise in revenue due to the rising incidence of osteoporosis and road accidents. Additionally, the increasing adoption of minimally invasive surgical procedures and technological advancements in femoral nailing systems are also contributing to the market revenue growth.
The femoral nailing systems market in Europe is expected to experience significant growth in revenue share due to the increasing prevalence of osteoporosis and hip fractures among the aging population. Additionally, advancements in technology by many top players and surgical techniques are expected to drive market revenue growth by improving patient outcomes and reducing recovery times.
Throughout the forecast period, Asia Pacific is expected to show lucrative growth in terms of revenue share. This rise is attributed to the increasing patient pool. Rising healthcare expenditure in Asia Pacific has made advanced medical technologies more accessible to the population. The availability of better healthcare facilities and increased affordability of medical treatments, including orthopedic surgeries, has also contributed to the demand for femoral nailing systems in the region. Moreover, there is a growing awareness among patients and healthcare professionals about the benefits of femoral nailing systems, such as faster recovery time, reduced hospital stays, and better long-term outcomes. This increased awareness is expected to further boost the demand for femoral nailing systems in the Asia Pacific.
The femoral nail system market is highly competitive due to the presence of several established players and the emergence of new competitors. Factors such as technological advancements, product innovation, and strategic collaborations are expected to accelerate the competition in the market.
Some of the prominent companies having the largest revenue share in the global femoral nail system market are,
The adult segment accounts for the largest revenue share in the global femoral nail system market.
The global femoral nail system market is expected to grow at a revenue CAGR of 5.8% in the forecast period.
GPC Medical Ltd., Arthrex, Inc., and GE Healthcare are a few key players operating in the global femoral nail system market.
The Asia Pacific region is expected to observe the highest revenue growth in global femoral nail system market in the forecast period.
The femoral nail systems market in the Middle East and Africa is limited due to a lack of awareness, high cost, and lack of favorable reimbursement policies in certain middle- and low-income countries.
*Insights on financial performance are subject to the availability of information in the public domain