Pedicle Screw Systems Market Forecast to 2030 Detailed in New Research Report
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.
Pedicle screw system are used in
spinal surgery to stop the pain caused by joints owing to disease. The
placement of the pedicle screw is independent of the laminar integrity and
extends its application to a different level of spinal pathologies such as
degenerative, oncological, degenerative and deformity correction.
The increasing incidences of spinal
cord injuries, spinal deformities, degenerative spinal disorders, and rising
geriatric population are the major factors driving the growth of the global
pedicle screw system market. Additionally, increasing research and development
spending by the top players are fueling the growth of the market during
forecast period. For instance, according to report published by Iranian Journal
of Neurosurgery, in 2016, prevalence of traumatic spinal cord injuries in
Tehran ranged from 1.2 to 11.4 per 10,000 people. Also, according to the report
published by The International Spinal Cord Injury (InSCI), in 2017, each year
around 12,500 new cases of spinal cord injuries occur in United States.
Major Key Players:
Some of the
key players in the global Key Pedicle Screw Systems
Market Players are Globus Medical, Inc., K2M Group Holdings, Inc., Medtronic PLC,
Nvision Biomedical Technologies, LLC., Alphatec Spine, Inc., Amedica
Corporation, B. Braun Melsungen AG, Depuy Synthes, Orthofix International N.V.,
RTI Surgical, Inc., SeaSpine, Stryker Corporation, Zimmer Biomet Holdings, Inc.
Segment
Analysis
The Global Pedicle
Screw System 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, stryker
pedicle screw 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. On the basis of product type, polyaxial pedicle screw systems segment
is likely to hold the largest market share of the pedicle screw systems market.
Also, minimally invasive surgery to register the significant growth rate in the
global pedicle screw systems market during the forecast period.
Regional
Analysis
Based on the
region, the global pedicle screw systems market is segmented into North
America, Europe, the Middle East and Africa, and Asia Pacific.
The Americas
(North America and Latin America) is assessed as the largest region in the
global market for pedicle screw systems. The region also accounts for the
largest market share, owing to the rising prevalence of spinal disorders caused
by the sedentary lifestyle of the working populace and rise in the geriatric
population. The established healthcare sector, early adoption of advanced
technologies, along with a steady flow of investments, has led to several
product upgradations. These favorable conditions are expected to fuel market
growth over the review period.
Europe is the
second-largest region for the global pedicle screw systems market and is
expected to register a substantial market share over the evaluation period. The
growth of the region is attributed to the financial support offered by
governments towards research and development, which consequently leads to
improved products, and market growth.
The Asia
Pacific is assessed as the fastest-growing region in the global pedicle screw
systems market. This exponential growth is attributed to the growing cases of
orthopedic surgeries, and the large patient populace in developing countries
such as India, and China, among others. Moreover, the adoption of advanced
technologies and increasing government initiatives towards the enhancement of
the healthcare sector offers a vast scope of growth opportunities for the
global pedicle screws market over the review period.
The Middle East
and African market for pedicle screw systems are expected to register the
smallest market share over the evaluation period. This is due to the weak
healthcare sector, poor technological penetration, and a lack of skilled
medical workforce in Africa. On the other hand, government efforts towards the
advancement of the healthcare sector are expected to contribute to the gradual
growth. Moreover, there is an increase in medical infrastructural development
activities in Middle Eastern developing countries such as the United Arab
Emirates (UAE), Saudi Arabia, and Kuwait, which is likely to fuel the market
growth from this region.
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