Home > Pressrelease > Pedicle Screw Systems Market worth over $3.4bn by 2027

Pedicle Screw Systems Market worth over $3.4bn by 2027

  • Published Date: January 4, 2022

Pedicle Screw Systems Market size is set to surpass USD 3.4 billion by 2027, according to a new research report by Global Market Insights Inc.
 

The pedicle screw systems market growth is attributed to the increasing number of accidents and spinal cord injuries. Road traffic injuries and spinal cord injuries are considered as a significant and critical public health issue. For instance, according to the World Health Organization (WHO) estimates, approximately 35 million people suffer from non-fatal injuries every year. The report also states that nearly 4.4 million people are injured and seek immediate medical attention in U.S. Therefore, such injuries require pedicle screws in the procedures to stabilize the thoracolumbar spine and securing fusion constructs.
 

Rising geriatric population across the globe will predominantly drive the market expansion

Rising geriatric population is expected to act as a high impact rendering factor for market progression of pedicle screw systems. As per the Population Reference Bureau report, in 2016, nearly 46 million individuals were aged 65 years and above in Americas. The population base is anticipated to surpass 98 million individuals by the end of 2060. Therefore, there is an associated rise in the prevalence of degenerative spinal disorders in tandem with the aging population. This leads to an increasing demand for both non-surgical and surgical treatments for such disabling conditions, which will stress more on the implementation of pedicle screws for the surgical treatment.
 

Dearth of skilled healthcare personnel may hamper the pedicle screw systems market demand

Rapid technological changes in the healthcare field have increased the demand for highly skilled professionals. Understanding and effectively implementing innovative technologies is crucial while performing various surgeries. Therefore, highly skilled personnel are required. The implantation of pedicle screw spinal systems should be performed only by experienced spinal surgeons with specific training because this is a technically demanding procedure presenting a risk of serious injury to the patient.
 

Usage of monoaxial pedicle screw in spinal surgeries to spur the segment growth

The monoaxial pedicle screw systems market is predicted to reach USD 998 million by 2027. Monoaxial screw is a spinal fixation device intended for use as a posterior pedicle screw fixation system, a posterior hook fixation system or as an anterolateral fixation system. These screws at the level of the fracture increases construct stiffness and shields the fractured vertebral body from anterior loads. Furthermore, increasing R&D for the discovery of new fixatures to eliminate post-operative complications coupled with rising number of road accidents & spinal disorders is projected to fuel the industry growth.
 

Minimally invasive surgery segment to witness significant industry expansion

The pedicle screw systems market for minimally invasive surgery segment accounted for USD 521.9 million market in 2020 led by the significant shift from conventional surgery to minimally invasive surgery. The minimally invasive surgery is noted to have evolved as one of the most preferred technique recently due to its various advantages such as less scarring, quick recovery, shortened hospital stays and tiny incision among others. Additionally, advancements in MIS technique is one of the prime factors that is contributing to the industry progression.
 

Browse key industry insights spread across 150 pages with 199 market data tables & 18 figures & charts from the report,Pedicle Screw Systems Market Size By Product Type (Monoaxial Pedicle Screw, Polyaxial Pedicle Screw), By Surgery (Open Surgery, Minimally Invasive Surgery), By Indication (Spinal Deformities, Spinal Trauma), Application (Cervical Fusion, Thoracolumbar, Lumber), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/pedicle-screw-systems-market
 

Rising incidence of spinal trauma across the Europe will boost the market revenue

The spinal trauma segment held 24% of the pedicle screw systems market share in 2020. Increasing incidence of spinal trauma disorders including traumatic fractures along with growing healthcare concerns to upsurge the demand for pedicle screw systems employed in such surgeries.
 

Growing number of spinal deformities in the population to influence the product adoption

The thoracolumbar segment is slated to showcase 3.7% growth rate through 2027. The rising number of spinal deformities in thoracolumbar area of the spine will impel the product acceptance. Furthermore, rising health awareness among population and increasing clinical trials for the development of advanced medical products are poised to augment the market positively.
 

Countries in Europe possess the largest proportion of the geriatric population stimulating demand for pedicle screw systems

Europe pedicle screw systems market size will cross USD 660 million by 2027. Countries of Europe account for the largest proportion of the geriatric population accelerating the demand for pedicle screw systems during the forecast period. With increasing age, the prevalence of spinal deformity in geriatric population further increases due to the weakening of the musculoskeletal system. Also, technological advancement such as adoption of minimally invasive surgeries allow innovative approaches in the treatment of deformity. In addition, the spinal implants upgraded over the last decade and the availability of MIS techniques minimizes complications associated with surgery.
 

Increasing partnership and product launch strategies are noted to strengthen their business portfolio and revenue

Eminent players operating in the market are Stryker Corporation, B Braun Melsungen, Zimmer Biomet and DePuy Synthesis Spine Inc. These market leaders focus on strategies such as innovative technology, product launches, mergers & acquisitions and collaboration to harvest larger revenue and sustain industry competition.
 

Authors: Sumant Ugalmugale, Rupali Swain