ID: MRFR/HC/5616-HCR | 85 Pages | Published By Rahul Gotadki on April 2023
Pedicle screw systems market is expected to reach USD 771.18 Million at CAGR of 6.05 % during the forecast period of 2020 to 2030
The Pedicle Screw Systems Market is represented USD 771.18 million every 2030 and is expected to enrol 6.05% CAGR during the gauge time frame (2022-2030).
Pedicle screw frameworks are the instruments utilized in a spinal medical procedure to stop the aggravation brought about by joints attributable to sickness. These screws are used in the lumbar spine for more advanced life structures, for example, the thoracic and thoracolumbar levels. The pedicle screw permits steadiness in spinal arthrodesis and gives three-section command over the spinal components for further developing deformity.
The Minimal invasive medical procedure (MIS) fragment represents a huge offer over the gauge period. This can be attributable to the rising reception of MIS techniques, combined with innovatively progressed mechanical and picture directed (IG) medical procedures. Expanding interest in automated and IG medical procedures can be credited to the reasonable perception of intraoperative patient information, wellbeing during basic spinal surgeries with small cuts, and shielding of organs close to the usable area.
The rising commonness of joint inflammation, expanding frequency of spinal line wounds, maturing populace, and developing inclination toward negligibly intrusive medical procedures are supposed to drive the development of the market. Additionally, rising R&D spending and forceful systems taken on by the top players, for example, new item dispatches, are adding to the development of the market. For instance, in September 2018, Nvision Biomedical Technologies, LLC sent off the pedicle screw framework centre at the North American Spine Society (NASS).
The significant expense related to pedicle screw frameworks, Sluggish item endorsement processes and severe administrative structures might hamper the development of the market during the evaluation time frame.
The Global Pedicle Screw Systems Market has been segmented on the basis of surgery type, product type, indication, application, and end user.
On the basis of surgery type, the market has been classified as open surgery and minimally invasive surgery. The market, by product type, has been segmented into polyaxial pedicle screw systems, monoaxial pedicle screw systems, and others. Based on indication, the market has been segmented into spinal degeneration, spinal trauma, spinal deformities, and others. The market, by application, has been segmented into thoracolumbar fusion and spinal cervical fusion. On the basis of end user, the market has been classified as hospitals and clinics, research organization and academic institute, and others. The polyaxial pedicle screw systems segment is expected to hold the largest market share of the pedicle screw systems market, by product type, during the forecast period. Also, minimally invasive surgery to register the highest CAGR in the global pedicle screw systems market during the forecast period.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The pedicle screw systems market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European pedicle screw systems market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The pedicle screw systems market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The pedicle screw systems market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary:
Pedicle Screw Systems Global Market Share, by Region, 2017 (%)
Source: MRFR Analysis
The Americas are likely to dominate the global pedicle screw systems market owing to the rising prevalence of spinal disorders, increasing geriatric population, and rising in FDA approved pedicle screws. According to the report published by Centers for Disease Control and Prevention (CDC), in 2016, 5.1% of men of 65 years and over are suffering with lumbar spine in United States. Also, 24.5% of women 65 years of age and over have lumbar spine in United States.
The European market is expected to be the second-largest pedicle screw systems market. The market growth in this region can be attributed to the government support for research & development and availability of funds for research.
Asia-Pacific is expected to be the fastest-growing pedicle screw systems market during the forecast period owing to the rising number of the orthopedic surgeries, rising investments in healthcare and expansions by market players in the region. Moreover, country such as India and China are considering fastest growing region due to the presence of huge patient population. Moreover, the government of these countries are open to adopt new technology, and best treatment option from a developed country. According to the report published by OMICS International, in 2017, around 500,000 to 600,000 spinal surgery had performed in China.
The market in the Middle East & Africa is expected to account for the smallest share of the global pedicle screw systems market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.
Some of the key players in the global pedicle screw systems market are Alphatec Spine, Inc., Amedica Corporation, B. Braun Melsungen AG, Depuy Synthes, Globus Medical, Inc., K2M Group Holdings, Inc., Medtronic PLC, Nvision Biomedical Technologies, LLC., Orthofix International N.V., RTI Surgical, Inc., SeaSpine, Stryker Corporation, Zimmer Biomet Holdings, Inc.
Pedicle Screw Systems Global Market, by Surgery Type:
Pedicle Screw Systems Global Market, by Product Type:
Pedicle Screw Systems Global Market, by Indication:
Pedicle Screw Systems Global Market, by Application:
Global Pedicle Screw Systems Market, by End User:
Global Pedicle Screw Systems Market, by Region:
OsteoCentric Technologies, the mechanical mix pioneer, went into an authoritative understanding of a private name concurrence with Altus Spine, which will send off their auxiliary, OsteoCentric Spine, LLC, into the pedicle screw obsession market.
SurGenTec, a secretly held spine and muscular innovation organization in Boca Raton, FL, got leeway from the United States Food and Drug Administration (FDA) for ION Screw, its exclusive independent spine obsession embed.Intended Audience:
|Market Size||2030: USD 771.68 million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Surgery Type, Product Type, Indication, Application and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Alphatec Spine, Inc., Amedica Corporation, B. Braun Melsungen AG, Depuy Synthes, Globus Medical, Inc., K2M Group Holdings, Inc., Medtronic PLC, Nvision Biomedical Technologies, LLC., Orthofix International N.V., RTI Surgical, Inc., SeaSpine, Stryker Corporation, Zimmer Biomet Holdings|
|Key Market Opportunities||Rising R&D spending and aggressive strategies adopted by the top players such as new product launches|
|Key Market Drivers||
The pedicle screw system market has the chance to grow with a 6.05% CAGR during the forecast period of 2020 to 2030.
The pedicle screw system market had a valuation of USD 771.18 million in 2030.
Technological improvement and growing use of minimally-invasive surgeries are going to inspire a better growth rate for the pedicle screw system market.
The sluggish acceptance rate of procedures, high cost of the system, and lack of infrastructure can hold back the expected pedicle screw system market.
The Americas would lead the pedicle screw system market.