Kirschner Wires Market: Introduction
- Kirschner wires (K wire) are thin wires or pins, also called surgical bone pins, which are used for stabilizing bone fragments. The K wires are known as stabilization pins and are widely preferred in the orthopedic surgery. These wires are placed though bone to hold the fragments intact. K wires can be placed or inserted percutaneously i.e., through the skin. K wires are available in various sizes and are most commonly used to balance or maintain the broken bones. Kirschner wires are placed temporarily until the bone fracture has healed. These wires are generally placed for an average of two to three weeks for clinically healing the fracture. K wires are usually made from stainless steel material, majorly recommended for fixation of smaller bones, and these wires are also used in combination with plates or screws for complex fractures. These K wires are used in fixing the patients with the poor bone quality.
- Growing fractures amongst adults and pediatrics are leading to wide usage of K wires and major studies are providing understanding about the efficient usage of K wires in managing hand fracture conditions. K wires are easy to remove. However, a risk of infections can be possible due to wires buried beneath the skin. As per NCBI result published in 2018, hand fractures are second most common type of fracture which accounted for 20% of the fractures usually happened in the adulthood. Kirschner wires are considered to be the most common type of surgery fixation.
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Key Drivers and Restraints of Global Kirschner Wires Market
- Rise in number of surgeries in orthopedic, plastic, dental, and other medical conditions are likely to drive the market of the global kirschner wires. Technological advancements; rise in number of minimal invasive surgeries; growing orthopedic, plastic, oral, dental, and other condition in need of associated surgeries; and availability of various customized kirschner wires are likely to augment the global kirschner wires market. Strong distributorship network and presence of key players across the world are likely to boost the growth of the global kirschner wires market.
- As per the American Society of Plastic Surgeons, in 2018, 17.7 million cosmetic procedures, 1.8 million surgical procedures, and 15.9 million minimal invasive procedures were performed. As per NCBI research, approximately 22.3 million orthopedic surgeries were performed in 2019. All the above statistics are likely to fuel the growth of the global kirschner wires market during the forecast period.
North America to Lead Global Kirschner Wires Market
- In terms of region, the global kirschner wires market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is projected to dominate the global kirschner wires market during the forecast period, owing to higher number of minimal invasive surgeries; increasing orthopedic injuries; and increasing prevalence of orthopedic, dental, foot, ankle, and lower extremity conditions. Moreover, aging baby boomers, increase in geriatric population, and growing sports injuries are likely to propel the kirschner wires market in North America. Moreover, rising expertise in performing various surgeries and presence of various key players offering kirschner wires is another factor anticipated to propel the market in North America. Supportive health care expenditure, government initiatives, and demand for better treatment are factors anticipated to augment the market in North America. Europe was the second largest market for global kirschner wires market in 2019, followed by Asia Pacific. Strong distributors’ networks and availability of product through local vendors are likely to drive the kirschner wires market in Europe.
- Asia Pacific is anticipated to be the fastest growing market for kirschner wires during the forecast period. This can be attributed to increase in minimally invasive surgeries including orthopedic, oral & dental, plastic, and veterinary surgeries. Moreover, k wires are available in customized size, diameters, length, tips and are manufactured as per specific application for skeletal traction process. These factors are likely to boost the growth of the kirschner wires market in Asia Pacific.
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Key Players Operating in Global Kirschner Wires Market
The global kirschner wires market is fragmented, with the presence of a number of large and small players. Major players operating in the global kirschner wires market are:
- Zimmer Biomet
- Arthrex, Inc.
- Depuy Synthesis Companies (J&J)
- MEDIN, a.s.
- OrthoMed, Inc.
- Custom Wire technologies, Inc.
- Micromed Medizintechnik GmbH
Global Kirschner Wires Market: Research Scope
Global Kirschner Wires Market, by Product Type
- K wire Trocar
- K wire Diamond
- K wire Medin
Global Kirschner Wires Market, by Application
- Podiatry Surgery
- Dental & Oral Surgery
- Veterinary Surgery
- Plastic Surgery
Global Kirschner Wires Market, by End-user
- Specialty Centers
Global Kirschner Wires Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.