India Medical Screws and Plates Market

Market Overview

The Indian medical screws and plates market share witnessed significant growth in the past and is expected to grow at a CAGR of 8.08% during the forecast period (2022-2030).

Bone, spinal, and pubic bone fractures, as well as minor fractures, can all be stabilized with the help of medical screws and plates. Cortical screws, cannulated screws, shaft screws, cancellous bone screws, locking head screws, and many more all belong to the larger group of internal fracture-fixing techniques. Orthopedic diseases affecting the bones and joints are common reasons for using these products.

Market Dynamics

Market Drivers

Increasing Instances of Injuries Resulting from Sports Engagements

Individuals face emotional and financial consequences because of sports-related injuries, accidents, and falls, including treatment costs and the impact on productivity in cases of disability or death. The automotive industry has witnessed substantial growth due to increased foreign investments, resulting in more middle-class-owned vehicles. This overall increase in factors contributing to bone fractures, such as road accidents, falls, and sports injuries, is expected to significantly contribute to the growth of the medical screws and plates market.

Market Restraint

Difficulties Encountered in Internal Bone Fixation

Complications can arise in the medical field if implants are not appropriately sized, screws are inadequately fixed, plates are not contoured properly, or they are positioned incorrectly. Moreover, the absence of cancellous bone grafts at fracture sites can also contribute to complications such as infections, delayed bone healing, and damage to the overall construct. Failure to follow proper plate application principles significantly raises the risk of these complications, which is expected to hinder market growth in the projected period.

Market Opportunities

Promising Business Ventures in Emerging Markets

Emerging economies offer considerable growth opportunities for both established and new entrants in the market. This is mainly attributed to factors such as the rising prevalence of osteoporosis, a large and growing patient population, expanding healthcare infrastructure, an increasing elderly population, and improved disease diagnosis and treatment awareness. Moreover, market participants actively focus on product development, innovation, and technological advancements, which are expected to drive market growth and create significant demand soon.

Regional Analysis

The Indian medical screws and plates market is analyzed on a regional level, considering market size, growth potential, and key players. Regions like Maharashtra, Tamil Nadu, Karnataka, and Delhi-NCR have emerged as significant contributors, driven by the increasing demand for orthopedic surgeries and advancements in healthcare infrastructure.

Segmental Analysis

The Indian medical screws and plates market is segmented into materials, types, and end-users.

It is further segmented by material into stainless steel, titanium, nitinol, and others.

Stainless steel dominated the market and is expected to register a CAGR of 8.18% over the forecast period. Stainless Steel (e.g., 316L) is one of the most popular biomaterials for bone plates due to its high biomechanical properties ('E' = 200 20 GPa, ductility, etc.), corrosion resistance, bio inertness, and cost-effectiveness relative to other biocompatible metals.

By type, it is further segmented into upper extremity and lower extremity.

Lower extremity dominated the market and is expected to register a CAGR of 7.55% over the forecast period. Plates, screws, and nails are frequently called internal fixation medical apparatus. These are commonly used for fractures because they hold the fractured bone together and provide support and stabilization. As the most common surgical procedure globally, screws and plates account for a substantial revenue share.

It is further segmented into hospitals and clinics, orthopedic clinics, and ambulatory surgical centers based on end-users.

Hospitals and clinics dominated the market and are expected to register a CAGR of 8.18% over the forecast period. A hospital is a hub for first-line medical attention, with highly trained doctors and nurses on hand to provide specialized care. Additionally, there has been an increase in hospitals throughout the world. The availability of cutting-edge surgical equipment and a sterile operating environment facilitates hospital product adoption.

Recent Developments

• June 2021– DePuy Synthes launched a 2.7mm variable angle locking compression plate that would help better treat collarbone problems. This new system provides various sizes and shapes that reflect the patient’s stature and clavicle size to accommodate the anatomic variability.
• January 2021– Smith and Nephew PLC announced its acquisition agreement with Integra Life Sciences Corporation to develop products in the upper extremities. It would help Smith and Nephew get more market revenue by the end of 2023. It will also help to innovate and research the medical screws and plates related to upper extremities.