Stainless Steel Kirschner Wires Market Trends

  • Report ID: 6528
  • Published Date: Oct 09, 2024
  • Report Format: PDF, PPT

Stainless Steel Kirschner Wires Market Trends

Growth Drivers

  • Advancements in minimally invasive surgeries: Advancements in minimally invasive surgeries are a key driver of the global stainless steel kirschner wires market. For instance, in December 2020, a paper published in the Journal of Laparoscopic & Robotic Surgeons estimated a 36% increase in minimally invasive surgeries (MIS) over a 16-year period.

    The rising prevalence of robotic surgery in MIS has improved the efficacy of the procedure as the use of robotic arms offers greater precision in the use of K-wires in surgeries. For instance, in November 2020, research published in the International Journal of Medical Robotics and Computer Assisted Surgery on a novel robotic system termed Orthbot that will serve as a surgical assistant for auto placement of K-wire in lumbar fusion that is poised to improve surgical procedure success rates.
  • Increasing use in veterinary procedures: The demand for advanced veterinary care has witnessed a massive surge globally, leading to a rise in demand for orthopedic care. K-wires are used to fix fractures in small animals such as dogs and cats to stabilize bones with minimal invasion.

    Additionally, growing awareness among pet owners and animal care NGOs on high-quality surgical options pushes for veterinary clinics to adopt K-wire solutions to treat animals. For instance, in October 2024, VCA Animal Hospitals launched a 3D printing lab for pet orthopedic surgeries aimed at providing customized solutions in pet care.
  • Innovations in material science: The global stainless steel kirschner wires market’s growth benefits from advancements in material science that improve Kirschner wire properties such as flexibility, corrosion resistance, and strength. For instance, in August 2024, a research conducted on durable antibacterial coatings on Kirschner wires indicated several advantages over conventional techniques, such as uniformity, high coverage, strong adhesion, and scalability. New innovations open the market for manufacturers to differentiate their products and answer demands for high-performance surgical tools.

Challenges

  • Risk of post-surgical infections: The stainless steel kirschner wires market faces a major constraint owing to the prevalence of post-surgical infections associated with the use of K-wires. In case infections are not managed in time, then it can lead to additional surgeries. There is growing pressure on manufacturers to develop antimicrobial wires.  Additionally, there is a potential for migration in the use of K-wires, such as migration to the thorax from an adjacent fracture fixation that can lead to major complications. The risk of damage to tendons and nerves can also stymie the adoption of K-wires in surgeries.
  • Lack of cost effectiveness compared to molded casts: The market’s growth can also be affected due to a lack of cost-effectiveness in comparison to molded casts, especially in less complex fractures. Molded casts are the preferred choice of treating fractures owing to their non-invasive nature, and ease of application. In comparison, surgeries with K-wires can be more expensive and require specialized treatment. The lack of robust infrastructure in emerging economies may reduce the application of K-wires in different surgical procedures, slowing the stainless steel kirschner wires market’s growth.

Stainless Steel Kirschner Wires Market: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

5.7%

Base Year Market Size (2024)

USD 931.9 million

Forecast Year Market Size (2037)

USD 1.9 billion

Regional Scope

  • North America (U.S., and Canada) 
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia-Pacific) 
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) 
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America) 
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa) 

 

Get more information on this report: Request Free Sample PDF

Browse Key Market Insights with Data Illustration:


Author Credits:  Radhika Pawar


  • Report ID: 6528
  • Published Date: Oct 09, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The stainless steel kirschner wires market was valued at USD 931.9 million in 2024 and registered a CAGR of 5.7% that is poised to continue during the forecast period, i.e., 2025-2037.

The global stainless steel kirschner wires market registered a valuation of USD 931.9 million in 2024 and is projected to attain USD 1.9 billion by 2037 with a profitable CAGR of 5.7% during the forecast period, i.e., 2025-2037. In 2025, the global market is poised to register a valuation of USD 985 million.

The major players in the market are Allegra Orthopedics, gSource, Orthofix Medical Inc., Arthrex Inc., Medline Industries, Stryker Corporation, Tyber Medical, DePuy Synthes, Zimmer Biomet, Globus Medical, Smith & Nephew, and others.

The hospital segment is attained the largest revenue share of 41.5% in 2024 and is poised to increase it share by the end of the forecast period. The segment’s growth is owed to large-scale usage of K-wire solutions in hospitals for fracture care.

North America is projected to account for a dominant market share by the end of the forecast period, accounting for 50.2% of the revenue share owing to rising demand for fracture care.
Inquiry Before Buying Request Free Sample
logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying
Inquiry Before Buying Request Free Sample