The global pedicle screw market size was significantly robust in 2022 and is expected to register a steady revenue CAGR over the forecast period. Key factors providing impetus to market revenue growth are rising usage of in treatment of degenerative spinal conditions. Surgical techniques have become more common as number of sports-related and spinal cord injury (SCI) and accidental fracture patients has increased dramatically. According to a survey by the National Safety Council (NSC), 526,000 people were diagnosed with sports and recreation-related injuries in 2017.
Pedicle screws consists of metal screws and rods, which are small medical tools and are widely used in spinal fixation treatments, which are not intrusive. These screws are utilized to give spinal fusion extra support and strength while it heals. Metal screws are positioned above and below fused vertebrae, with a rod connecting screws to form a supporting brace that fixes spine, preventing spinal movement and allowing bone graft to heal. Medical professional employs specific guides and fluoroscopic imaging techniques during lumbar pedicle screw fixation procedure to ensure accurate implantation of stabilizing screws and rods in the spine. This operation reduces risk of serious damage to back muscles, tendons, and other soft tissues. The screws and rods can be easily removed after spinal fusion is complete with a minor operation.
Request a Sample@ https://www.qyresearchmedical.com/sample/119410
Major Factors Driving Growth Of The Global Pedicle Screw Market:
Revenue growth of the global pedicle screw market is significantly driven by rising geriatric population, increasing cases of bone diseases, rising demand for spinal procedures, and improved healthcare facilities globally. Pedicle screws are expected to be in high demand in the near future as incidence of various spinal and orthopedic illnesses continues to rise. These screws are more technologically advanced than traditional rod and hook structures, and are popular due to rapid growth in lifestyle-related spinal problems as a result of sedentary lifestyles. In addition, increasing number of spinal deformity cases is expected to drive demand for spine correction equipment and devices.
Factors Restraining Growth Of The Global Pedicle Screw Market:
The global pedicle screw market growth is substantially hampered by several unfavorable factors. To some extent, strict regulatory frameworks and lengthy product approval processes may cause a slow-down in market growth to some extent. High costs associated with these screw systems is another factor expected to impede market growth.
Opportunities For Players Operating In The Global Pedicle Screw Market:
Various types of spinal abnormalities such as scoliosis, lordosis, kyphosis, and others, have become more common throughout time. Scoliosis, which is defined as an abnormal lateral curvature of the spine, affects an estimated 6-9 million people in the United States, according to the American Association of Neurological Surgeons (AANS). Rising demand for development of new technology to treat spinal abnormalities is expected to continue to open up lucrative business opportunities for major players and new entrants in the market.
Global Pedicle Screw Market Revenue Led By Product Type Segment:
Based on product type, the polyaxial segment is expected to reach the highest revenue share over the forecast period. Rising number of road accidents, improved healthcare infrastructure, and rising investments by key players to introduce novel products are factors expected to boost growth of this segment.
Global Pedicle Screw Market Led By Surgery Type Segment:
Based on surgery type, the minimal invasive surgery is expected to dominate all other segments in terms of revenue generation over the forecast period. Minimally invasive procedures are becoming more popular among patients due to benefits such as smaller incisions, less scarring, faster healing, shorter hospital stays, less postoperative pain, and fewer problems. To promote increased safety and reliability, clinicians are now using technologically advanced robotic and image-guided procedures. Fusion Robotics LLC, a spinal robotics business, accomplished the first ever minimally invasive transforaminal lumbar interbody fusion (MI-TLIF) treatment employing robot-assisted pedicle screw fixation in March 2021.
North America Accounts For Largest Revenue Share In Global Pedicle Screw Market:
Among regional markets, North America emerged as the largest market for demolition equipment in 2020, with the highest revenue share. Revenue growth in the North America market is mainly attributed to the region’s rising prevalence of spinal abnormalities, accidents, and presence of ageing population in the region. According to the National Spinal Cord Injury (SCI) Database report for 2019, number of people living with SCI in the United States is expected to be around 291,000. Furthermore, automobile injuries were discovered to be the leading cause of SCI, accounting for more than 39% of overall SCI.
Asia Pacific Continues To Lead In Terms Of Revenue CAGR:
The Asia Pacific pedicle screw market is expected to register the fastest growth in CAGR over the forecast period. This is attributed to rising awareness about sophisticated surgical methods, affordability of products, increasing number of health care research and development programs, development of healthcare infrastructure, and increasing interest of foreign investors in countries such as India and China.
Major Companies Profiled In The Report:
- LDR Holding Corporation
- Orthopedic Implant Company
- Applied Spine Technologies
- Depuy Synthes
- Auxein Medical
- Zimmer Biomet
- Ulrich GmbH and Co
- X-spine Systems
- Globus Medical
- Bio-Spine Corp.
- Aesculap Implant systems
- CTL Medical Corporation
Strategies And Objectives Of Major Companies:
- In March 2019, MiRus, LLC, a Georgia-based medical device company, announced that its Europa pedicle screw system secured Food and Drug Administration (FDA) approval. Instead of iron, cobalt, or titanium-based alloys, Europa uses a molybdenum rhenium superalloy. This approval, according to the business, is culmination of ten years of intensive research and development. The company\’s staff of highly skilled engineers and scientists has worked tirelessly to develop cutting-edge medical implant material technologies. The MoRe superalloy is predicted to revolutionize medical device and healthcare industries in various ways.
What Our Report Provides And Why Our Offering Is Better:
This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.
Detailed Segmentation In Our Report:
For the purpose of this report, the global pedicle screw market is segmented on the basis of product type, surgery type, indication type, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2023-2032)
Surgery Type Outlook (Revenue, USD Billion; 2023-2032)
- Minimally Invasive
Indication Type Outlook (Revenue, USD Billion; 2023-2032)
Application Type Outlook (Revenue, USD Billion; 2023-2032)
- Thoracolumbar Fusion
- Spinal Cervical Fusion
End-Use Outlook (Revenue, USD Billion; 2023-2032)
- Hospital and clinics
- Research organizations
- Academic Institutes
Region Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Buy quantitative research Report at discounted price – USD 1500 https://www.qyresearchmedical.com/report/checkout/119410/1500
You can place an order or ask any questions, please feel free to contact [email protected] | +1 9197 992 333
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover North America, Europe, Latin America, Middle East and Africa, Asia- Pacific.
For Latest Update Follow Us:
URL – http://www.qyresearchmedical.com/