Global pedicle screw system market is expected to reach USD 811.58 million by 2025, at a CAGR of 4.33% from 2018 to 2025. The key contributing factor for the market growth are rising investment for the development of new products, increasing occurrences of arthritis and spinal injuries, increasing geriatric population, and growing preference for minimally invasive surgeries.
Pedicle screw system is the devices used in spinal surgeries to stop joints pain. These screws are corrosion resistant and are compatible with magnetic resonance imaging (MRI). Also, the pedicle screw system is designed to control movement as well as load bearing of the motion to treat back pain. For instance, in 2017, DePuy Synthes launched Purevue visualization system imaging platform applicable for the usage in minimally invasive surgery procedures
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- The base year for the study has been considered 2017, the historic year 2015 and 2016, the forecast period considered is from 2018 to 2025.
- The report provides the key data of Production (‘000 Units), Consumption (‘000 Units), Import & Export (‘000 Units), Demand, Supply, and Gap Analysis to understand the present and future scenario of the market.
- The study delivers a comprehensive analysis of the global pedicle screw system market product, surgery type, indication, application, and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used to recognize the competitive scenario in the global pedicle screw system market. This report incorporates the industry analysis which is focused on providing an extensive view of the pedicle screw system market.
- The study also includes attractiveness analysis of product, surgery type, indication, application, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the pedicle screw system market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Rising investment for the development of new products
- Increasing occurrences of arthritis and spinal injuries
- Rising geriatric population
- The growing preference for minimally invasive surgeries
- Emerging economies
- Time-consuming approval process
- Increase in healthcare expenditure
- Growth in disposable income
- Stringent regulatory framework and time-consuming approval process
- Product failures and recalls
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific held the largest market share of approximately37.19% in 2017.This is attributable due to factors such as rising geriatric population, increasing incidence of spinal disorder, and increasing orthopedic joint replacement surgery.
The major players of market include are Zimmer Biomet, B. Braun, Stryker, Inc., Orthopedic Implant Company, CTL Medical Corporation, LDR Holding Corporation, X-spine Systems, Synthes Spine, KM Group Holdings, Orthofix International N. V., Stryker Corporation, Pioneer Surgical Technology Spine, Globus Medical, Depuy Synthes, Z-medical GmbH + Co. KG, Alphatec Spine, Aesculap Implant Systems, LLC, Auxein Medical, Bio-Spine Corp., Applied Spine Technologies, RTI Surgical, K2M, Exactech, ArthroCare Corporation, Ulrich GmbH & Co, Medtronic Sofamor Danek, Medtronic, and others. For instance, in 2016, Smith & Nephew signed distribution agreement with OrthAlign Inc. to distribute Smith & Nephew’s KneeAlign product in Asia, Africa, Middle East, Australia and New Zealand based countries.
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