Stainless Steel Kirschner Wires Market Share

North America Market Analysis

North America stainless steel kirschner wires market is expected to capture revenue share of around 50.2% by the end of 2037 owing to a robust healthcare infrastructure and a rising demand for orthopedic care. Increasing demands for K-wire usage in trauma care and elective surgeries are major drivers of the stainless steel kirschner wires market market. Additionally, large-scale investments in the healthcare sector and innovations such as the integration of robotic assistants for surgery enhance the use of K-wire solutions for surgical care. For instance, in May 2024, the New York City Health + Hospitals announced the completion of one year of its robotic surgery program and reported over 400 successful surgeries.

The U.S. has the dominant share in the North America stainless steel kirschner wires market owing to a high volume of orthopedic surgeries and an advanced healthcare system that is ushering innovations in surgical care. For instance, the Lehigh Valley Health Network estimates around 6.8 million fractures every year in the U.S., and an average person in the country suffers two fractures in their lifetime. The high-rates of fracture boost the demand for K-wires in the healthcare sector.

Additionally, in November 2023, a study published in the National Library of Medicine estimated the rising prevalence of wrist and vertebral fractures among US adults aged 50 or above to have increased by 50% from 1999 to 2020. Another major driver in the stainless steel kirschner wires market is the rising prevalence of robotic assistance solutions for surgery. The use of robot assistants allows precision use of K-wires, improving patient care.

Canada is projected to increase its stainless steel kirschner wires market share in North America during the forecast period owing to the rapid integration of robotic surgery assistance, improving fracture care, and boosting demands for K-wires. The stainless steel kirschner wires market benefits from the universal healthcare system in Canada that encourages more patients to actively seek fracture care. Additionally, robot-assisted surgery is gaining popularity in the country which is set to boost the market’s growth. For instance, in December 2021, Medtronic Canada ULC announced that it had received a Health Canada license for the Hugo robotic assistance surgery (RAS) system.

APAC Market Analysis

The Asia Pacific stainless steel kirschner wires market is poised to register the fastest growth during the forecast period. The market’s growth is attributed to fracture care needs for a large- section of the population. Emerging economies in APAC are investing in improving their healthcare sectors to cater to the needs of a significantly large section of the population. India, China, and Japan are leading the stainless steel kirschner wires market growth in APAC.

Additionally, the medical tourism sector in APAC is witnessing steady growth owing to affordable and advanced orthopedic solutions. This attracts patients with high disposable incomes from North America and Europe to leverage affordable care in APAC economies. Growth in medical tourism is poised to boost demands for K-wires solutions as fracture cases increase.

India accounts for a significant market share in APAC owing to large-scale demand for fracture care and a growing healthcare ecosystem boosting demands for K-wires. A major market driver in India is the large-scale import of medical wires owing to growing usage in the healthcare sector. India is reported to be among the top 3 importers of medical wire. Additionally, national public health insurance schemes such as the Ayushman Bharat Yojana bolster demands for K-wire solutions by improving quality healthcare access in both urban and rural areas.

China is set to account for a considerable revenue share in APAC and is positioned to increase its market share by the end of 2038. The rising cases of fracture in China are poised to maintain the demands for K-wire solutions. For instance, in January 2024, a study published in the National Library of Medicine on the economic burden of traumatic fractures estimated the traumatic fracture rate in China to be 1.565 per 1000 in males and 1.302 per 1000 in females in 2020. Additionally, the World Health Organization estimated the healthcare spending in China to have tripled from USD 68.6 billion in 2009 to USD 233.4 billion in 2018. The increase in healthcare spending is poised to improve minimally invasive surgery procedures for surgical care, boosting demands for K-wire solutions.