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Pharmacy benefit management market
ANKLE ARTHRODESIS PLATE MARKET REPORT OVERVIEW
The global ankle arthrodesis plate market size was USD 137 million in 2022 and the market is projected to touch USD 206.53 million by 2031, exhibiting a CAGR of 4.7% during the forecast period.
An ankle arthrodesis plate is a medical device designed for the surgical stabilization and fusion of the ankle joint. Ankle arthrodesis, also known as ankle fusion, is a surgical procedure that involves the fusion of the bones in the ankle joint to eliminate motion and relieve pain caused by conditions such as arthritis, severe fractures, or deformities. The ankle arthrodesis plate plays a crucial role in this procedure by providing stability and facilitating the fusion process.
The plate is typically made of biocompatible materials such as titanium or stainless steel, ensuring compatibility with the human body and minimizing the risk of adverse reactions. The design of the ankle arthrodesis plate includes features such as screw holes and contours that allow secure fixation to the bones surrounding the ankle joint. Surgeons use screws to affix the plate to the tibia and talus bones, creating a stable construct that promotes bone fusion over time. During ankle arthrodesis surgery, the plate serves as a support structure to maintain proper alignment of the bones during the fusion process. It also helps distribute forces evenly across the joint, reducing stress on the healing bones. The success of ankle fusion depends on achieving solid bone union, and the ankle arthrodesis plate contributes to this outcome by providing rigid fixation.
COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering, with the ankle arthrodesis plate market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The medical device industry, including orthopedic implants, faced challenges due to disruptions in the global supply chain. Restrictions on international travel and lockdowns impacted the production and transportation of medical devices, which may have affected the availability of ankle arthrodesis plates. During the initial stages of the pandemic, many countries implemented restrictions on elective surgeries to prioritize resources for COVID-19 patients. As ankle arthrodesis is often considered an elective procedure, the market may have experienced a temporary decline in demand.
Hospitals and healthcare facilities experienced a shift in priorities, focusing on managing COVID-19 cases and ensuring the safety of healthcare professionals. Non-urgent procedures, including certain orthopedic surgeries, may have been deprioritized, impacting the market for ankle arthrodesis plates. Patients, concerned about the risk of exposure to the virus, may have postponed elective surgeries, contributing to a reduction in the number of ankle arthrodesis procedures. The market is anticipated to boost the ankle arthrodesis plate market growth following the pandemic.
LATEST TRENDS
"Technological Advancements to Drive Market Growth"
Ongoing advancements in materials and design techniques are likely to continue in the ankle arthrodesis plate market. Manufacturers may focus on developing plates with improved biomechanical properties, such as better stress distribution and compatibility with bone structures. Personalized or patient-specific implants are gaining traction in orthopedics. In the ankle arthrodesis plate market, this trend may involve the development of implants tailored to the individual patient's anatomy for enhanced fit and performance.
An increased emphasis on biocompatible materials, such as titanium and certain advanced alloys, is likely to continue. These materials offer durability, strength, and compatibility with the human body, reducing the risk of adverse reactions. These latest developments are anticipated to boost the ankle arthrodesis plate market share.
ANKLE ARTHRODESIS PLATE MARKET SEGMENTATION
- By Type
Based on type the global market can be categorized into Locking and Non-Locking.
Locking plates and screws are often used in fracture fixation, especially in cases where traditional screws may not provide sufficient stability. The use of locking implants can be more technically challenging, requiring precise pre-drilling for screw insertion. Non-locking implants provide compression at the fracture site, promoting direct bone-to-bone contact and facilitating healing. Non-locking implants may provide less stability in osteoporotic or weaker bone compared to locking implants.
- By Application
Based on application the global market can be categorized into Hospitals, Clinics and Others.
Clinics often serve as primary care facilities where individuals receive routine healthcare services. This includes general check-ups, vaccinations, and the management of common illnesses. Hospitals provide acute care services, including emergency care for critical and life-threatening conditions. Emergency departments in hospitals are equipped to handle a wide range of medical emergencies.
DRIVING FACTORS
"Minimally Invasive Surgical Techniques to Boost the Market"
The trend toward minimally invasive surgical approaches influences the ankle arthrodesis plate market. Surgeons are increasingly adopting techniques that involve smaller incisions, reduced soft tissue damage, and quicker recovery times. Ankle arthrodesis plates designed for minimally invasive procedures are in demand. Ongoing advancements in implant materials and design contribute to the development of more effective and reliable ankle arthrodesis plates. Innovations in biocompatible materials, enhanced fixation mechanisms, and improved plate designs support better outcomes for patients undergoing ankle fusion.
"Increasing Sports-Related Injuries to Expand the Market"
Ankle injuries, including severe fractures and ligament damage, are common in sports activities. Athletes and individuals with active lifestyles may require ankle arthrodesis procedures, boosting the demand for specialized plates designed for these cases.The increasing prevalence of conditions such as arthritis, degenerative joint diseases, and severe ankle fractures is a significant driver for ankle arthrodesis procedures. As the aging population grows, the incidence of ankle disorders that require surgical intervention is expected to rise. These factors are anticipated to drive the ankle arthrodesis plate market share.
RESTRAINING FACTORS
"Surgeon Experience and Skill Level to Potentially Impede Market Growth"
The success of ankle arthrodesis procedures depends on the surgeon's skill and experience. Surgeons with limited experience or proficiency in ankle fusion techniques may opt for alternative treatments or recommend them to patients. Ankle fusion restricts joint mobility, which may be a significant concern for certain patients. Individuals with active lifestyles or those who prioritize joint flexibility may opt for alternative treatments that preserve joint motion.Patients with certain medical conditions, such as peripheral neuropathy or vascular diseases, may be at higher risk for complications following ankle arthrodesis. Surgeons may opt for alternative treatments in these special populations. The factors are anticipated to hinder the growth of the ankle arthrodesis plate market growth.
ANKLE ARTHRODESIS PLATE MARKET REGIONAL INSIGHTS
"North America is Dominating the Market with Advanced Healthcare Infrastructure"
North America, particularly the United States and Canada, has well-developed and advanced healthcare infrastructure. This includes state-of-the-art medical facilities, skilled healthcare professionals, and access to cutting-edge technologies. These factors contribute to the region's prominence in the orthopedic implants market. North America has some of the highest healthcare spending per capita globally. This financial investment in healthcare infrastructure, research, and patient care contributes to the overall growth and development of the orthopedic implants market.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- Waston Medical [China]
- Health-Joy Medical [China]
- Jeil Medical Corporation [South Korea]
- AGOMED Medizin-Technik [Germnay]
- NORMMED Medical Devices [Turkey]
INDUSTRIAL DEVELOPMENT
September 2018: The Ovation™ Ankle Fusion System, developed by Stryker, is designed for ankle arthrodesis procedures. It includes a range of anatomically contoured plates and screws to provide stable fixation during the fusion process. The system is engineered to address the specific biomechanical and surgical requirements of ankle arthrodesis, offering options for both locking and non-locking screws to accommodate various surgical preferences and patient needs.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 137 Million in 2022 |
Market Size Value By |
US$ 206.53 Million by 2031 |
Growth Rate |
CAGR of 4.7% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the ankle arthrodesis plate market expected to touch by 2031?
The global ankle arthrodesis plate market is expected to reach USD 206.53 million by 2031.
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What CAGR is the ankle arthrodesis plate market expected to exhibit by 2031?
The ankle arthrodesis plate market is expected to exhibit a CAGR of 4.7% by 2031.
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Which are the driving factors of the ankle arthrodesis plate market?
Minimally Invasive Surgical Techniques and Increasing Sports-Related Injuries are some of the driving factors of the Ankle Arthrodesis Plate market.
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What are the key ankle arthrodesis plate market segments?
The key Ankle Arthrodesis Plate market segmentation that you should be aware of, which include, based on type the ankle arthrodesis plate market is classified as Locking and Non-Locking. Based on application the ankle arthrodesis plate market is classified as Hospitals, Clinics and Others.