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Bone Screw System Market size is anticipated to grow at a commendable rate during the forecast period of 2023-2032. A bone screw system is primarily used in orthopedic surgeries to create compression throughout the surface of an injured bone. These implants are made of titanium, stainless steel, and bio-absorbable materials to enhance their biocompatibility.
Bone screw systems are used to attach implants to the affected bones and fix soft tissue problems. The prevalence of orthopedic disorders is rising across the globe. According to the WHO, as of 2022, close to 1.71 billion people worldwide were diagnosed with musculoskeletal disorders, further enhancing product adoption.
Patients in developed as well as developing countries are demanding technologically advanced procedures, which is a prominent trend driving market growth. The number of road accidents is also increasing, thereby raising the risk of bone injuries and traumas. This has prompted medical device manufacturers to produce advanced bone screw systems to enable quick recovery. For instance, in September 2022, Silver Bullet Therapeutics launched OrthoFuzlon Bone Screw System in Europe. The antimicrobial implant was designed to be used in open reduction and internal fixation (ORIF) fracture operations. Such launches are predicted to boost product development.
Based on type, bone screw system market is bifurcated into locking screws, conventional screws, cannulated screws, headless screws, special screws, threaded screws, and others. The industry size from the cannulated screw segment is anticipated to record a robust CAGR through 2032. These screws have a hollow central shaft and are used to treat metaphyseal fractures.
Since they are small-sized, cannulated screws can be reinserted multiple times. The knowles pin, for example, is a cannulated screw used to treat disorders such as slipped capital femoral epiphysis in children. These bone screws can prevent post-surgery complications and enhance the surgical outcome, thereby strengthening the market outlook.
The cortical bone application segment is expected to hold a significant share of bone screw system industry by 2032. Cortical bones are dense, layered bones that protect the internal cavity. Fractures in these bones can be fixed by using cortex screws, which have several threads and are smaller in size. The incidence of bone fractures is increasing at a steady rate across the world. Approximately 2 million bone fractures occur in the U.S. each year. Factors such as this will fuel the adoption of cortex screws as they can restore the structure and movement of the distorted cortical bone.
Bone screw system market revenue from the hospital segment may increase at an appreciable rate by 2032. Rising number of surgical procedures to treat a wide range of fractures and orthopedic diseases in hospitals will create a positive impact on industry expansion. Hospitals have a vast presence of skilled healthcare professionals and offer patients access to innovative medical facilities. Other factors, such as growing awareness about the availability of cutting-edge orthopedic treatments among patients and a surge in road accidents will boost the overall hospitalization rate, and consequently, foster product development.
U.S. bone screw system market value is projected to showcase a commendable growth rate during the forecast timeframe. The country’s elderly population is expanding steadily each year. As per the U.S. Census Bureau, as of 2022, more than 56 million individuals aged 65 years and above were living in the country, accounting for 16.9% of the total population. This increases the risk of bone fractures and age-related orthopedic diseases. Road accidents and sports injuries are also on the rise across the country, contributing to the expansion of the chain of orthopedic surgical centers.
Zimmer Biomet, DePuy Synthes, Arthrex, Aesculap, Alphatec Spine, CONMED Corp NuVasive, and ConforMIS are some of the leading companies operating in bone screw system market. These organizations are participating in various strategic initiatives, such as acquisitions, mergers, and partnerships to maintain their market position.