PUBLISHER: The Business Research Company | PRODUCT CODE: 1414484
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414484
“Pedicle Screw Systems Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on pedicle screw systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for pedicle screw systems? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The pedicle screw systems market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Pedicle screw systems serve as spinal implants crucial in reinforcing and stabilizing vertebrae during spinal fusion surgeries. Their primary role is to provide added support and strength to the fusion process while preventing any movement, thus aiding in the healing of bone grafts.
These systems primarily come in three main types monoaxial pedicle screws, polyaxial pedicle screws, and other specialized variations. Monoaxial pedicle screws specifically aim to stabilize the spine and find use in both open and minimally invasive spinal surgeries. They play a pivotal role in treating spinal trauma injuries, spinal deformities, degenerative spinal conditions, among other spinal issues. Their versatility allows for application in various medical settings including hospitals, clinics, and specialized healthcare facilities.
The pedicle screw systems market research report is one of a series of new reports from The Business Research Company that provides pedicle screw systems market statistics, including pedicle screw systems industry global market size, regional shares, competitors with a pedicle screw systems market share, detailed pedicle screw systems market segments, market trends and opportunities, and any further data you may need to thrive in the pedicle screw systems industry. This pedicle screw systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The pedicle screw systems market size has grown strongly in recent years. It will grow from $5.4 billion in 2023 to $5.68 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The expansion witnessed in the historical period can be attributed to several factors, including advancements in surgical techniques tailored for spinal disorders. Additionally, the rise in spinal issues among a growing aging population has contributed significantly to this growth. Furthermore, ongoing research and development initiatives, coupled with the attainment of regulatory approvals and adherence to standards, have played pivotal roles in fostering this progress.
The pedicle screw systems market size is expected to see steady growth in the next few years. It will grow to $6.8 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. Anticipated growth in the upcoming period can be credited to several key factors, notably the increasing adoption of value-based healthcare models that prioritize efficient and effective care. Patient preferences geared toward enhancing their quality of life also contribute significantly to this growth trajectory. Surgeon training and educational programs play a pivotal role in furthering advancements, while market competition and ongoing product development initiatives drive innovation within the sector.
The escalation in arthritis prevalence is anticipated to be a driving force behind the growth of the pedicle screw systems market in the foreseeable future. Arthritis, encompassing joint pain and disease, prompts the use of pedicle screw systems to ensure precise and safe cervical pedicle screw insertion, particularly in patients with conditions such as rheumatoid arthritis (RA). As per the Centers for Disease Control and Prevention's projections in October 2021, an estimated 78.4 million adults aged 18 and above, constituting 25.9% of the projected adult population by 2040, will be diagnosed with arthritis-an increase from 63 million in 2020. Hence, the mounting prevalence of arthritis is poised to propel the pedicle screw systems market.
The surge in spinal cord injuries is forecasted to significantly contribute to the expansion of the pedicle screw systems market moving forward. Spinal cord injuries, causing loss of function or sensation, necessitate the use of pedicle screw systems for spinal stabilization and fusion, providing structural support to affected vertebrae. Notably, data from Spinal Cord Inc. in May 2023 revealed approximately 18,000 new annual cases of spinal cord injuries in the United States, with an estimated 302,000 individuals having experienced traumatic spinal cord injuries in the country. This escalating incidence of spinal cord injuries serves as a driving force behind the growth trajectory of the pedicle screw systems market.
Innovation remains a pivotal trend gaining traction within the pedicle screw systems market, with major companies dedicated to pioneering products to fortify their market standing. For instance, Intelivation Technologies, a US-based medical equipment manufacturer, introduced the Golden Isles Pedicle Screw System. Specifically designed for stabilizing spinal segments in adults dealing with lumbar and sacral spine conditions, this system addresses various issues including deformities, trauma, degenerative disc disease, pseudoarthrosis, spondylolisthesis, and failed previous fusions. It caters to non-cervical pedicle fixation needs, offering immobilization and stabilization for mature skeletal structures.
Key players in the pedicle screw systems market are intensely focused on developing advanced products such as reduction and correction instrumentation, aimed at elevating spinal alignment, stability, and overall surgical outcomes. Orthofix Medical Inc., a US-based medical device company, launched the mariner deformity pedicle screw system in August 2023. This system integrates specialized implant technologies, osteotomy tools, and advanced reduction and correction instrumentation for enhanced surgical intervention. It notably incorporates gimbal technology within the Mariner family of products, facilitating precise complex instrumentation placement and augmenting its differentiated capabilities
In June 2022, eCential Robotics, a medical equipment manufacturer based in France, forged a strategic partnership with ChoiceSpine LLC. The collaboration aimed to integrate their expertise, providing an optimized solution to advance robotic spine implant surgery. By leveraging their combined strengths, the focus was on refining the accuracy and efficacy of spinal implant procedures, ultimately striving to elevate patient outcomes. ChoiceSpine LLC, a US-based company specializing in manufacturing spinal devices, joined forces with eCential Robotics to drive this concerted effort towards enhancing surgical precision and effectiveness in the realm of spinal implants.
Major companies operating in the pedicle screw systems market report are Globus Medical Inc., Medtronic plc, Orthofix Medical Inc., Stryker Corporation, DePuy Synthes Companies of Johnson & Johnson, Zimmer Biomet Holdings Inc., B. Braun Melsungen AG, Alphatec Holdings Inc., RTI Surgical Inc., Johnson & Johnson, Atec Spine Inc., CoreLink Holding LLC, Xtant Medical Inc., Implant Systems LLC, Evolution Spine LLC, Exactech Inc., Life Spine Inc., NuVasive Inc., Qualgenix LLC, Solco Biomedical Pvt Ltd., CTL Amedica Corporation, Precision Spine Inc., Spineart SA, Aesculap Implant Systems LLC, K2M Inc., LDR Holding Corporation, Paradigm Spine LLC, Spinal Elements Inc., Titan Spine LLC, Vertebral Technologies Inc., X-spine Systems Inc., Aurora Spine Corporation, Captiva Spine Inc., ChoiceSpine LP, Expanding Orthopedics Inc., FH Orthopedics Inc., Intrinsic Therapeutics Inc., Kuros Biosciences AG
North America was the largest region in the pedicle screw systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global pedicle screw systems market report during the forecast period. The regions covered in the pedicle screw systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the pedicle screw systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The pedicle screw systems market consists of sales of pedicle screws needed in fractures, spinal tumors, scoliosis, and others. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this screws market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.