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The global orthopedic pedicle screws market size is estimated to grow by USD 342.76 million at a CAGR of 7.83% between 2023 and 2028.
The growing demand for minimally invasive operations due to their advantages, such as shorter recovery periods and fewer problems after surgery, is propelling the global orthopedic pedicle screws market. Since minimally intrusive surgery procedures use smaller incisions, there is less injury to tissue, less blood loss, and a decreased risk of infection. The use of orthopedic pedicle screws in minimally invasive spinal surgeries is anticipated to increase as long as healthcare trends continue to emphasize patient outcomes and cost-effectiveness, propelling the global orthopedic pedicle screws market during the forecast period.
Technavio has segmented the market into End-user, Product, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2018-2022, besides analyzing the current market scenario.
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The market share growth by the hospitals segment will be significant during the forecast period. Hospitals are key sites of application and the main centers for orthopedic procedures. Hospitals are using orthopedic pedicle screws more frequently, which is highlighted by the increased need for state-of-the-art medical technologies and an increase in orthopedic treatments. Leading players in the market, such as Zimmer, Stryker, and Medtronic, are leading the way with cutting-edge pedicle screw solutions.
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The hospitals segment was valued at USD 466.19 million in 2018. The increasing trend in the global orthopedic pedicle screws market is additionally driven by persistent efforts in R&D, strategic partnerships, and a committed focus on improving patient outcomes. Hospitals are vital institutions in an ever-changing market, contributing significantly to the development and growth of the global orthopedic pedicle screws market during the forecast period.
In monoaxial orthopedic pedicle screws, the head of pedicle screws is immobile, and in polyaxial orthopedic pedicle screws, the head can rotate in different directions. These orthopedic pedicle screws are used in the vertebrae or the lumbar region. Furthermore, the presence of global and local market players such as Stryker, DePuy Synthes Co. (a subsidiary of Johnson and Johnson), MiRus, and Zimmer, which offer monoaxial and polyaxial orthopedic pedicle screws, will boost the market growth through product launches and development of advanced alloy materials and integrated pedicle screw system during the forecast period.
Cannulated orthopedic pedicle screws are mainly used in minimally invasive (MI) or navigation techniques for orthopedic-related surgical procedures such as spinal fracture fixation surgeries. These orthopedic pedicle screws have a hollow shaft, which can be inserted over a guidewire. Furthermore, to strengthen market competition and expand geographical presence and product sales, market players are focusing on M&A and product-related partnerships in various regions. With the rise in orthopedic-related surgical procedures, the demand for cannulated pedicle screws is also growing. Due to such factors, the demand for cannulated orthopedic pedicle screws is expected to grow during the forecast period.
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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. Factors such as an increasing number of spine injuries and disorder cases, a growing number of spinal fusion surgeries in developed countries such as the US and Canada, a rising number of geriatric populations, an increasing number of congenital orthopedic conditions such as scoliosis, product launches, presence of public and private insurance policies, and growing presence of vendors will boost the market growth in the region.
Moreover, spine disorders are caused due to external and internal factors. External factors such as accidents and internal factors such as inheritance of gene variation can increase the risk of developing intervertebral disc disease. In addition, the elderly population in North America is increasing, and spine disorders such as degenerative disc disease are a common problem among elderly people. Furthermore, advanced surgery procedures facilitate the implant process and increase the success rate of surgery-related operations. Thus, such enhanced technologies increase orthopedic-related surgeries during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Alphatec Holdings Inc.: The company offers orthopedic pedicle screws under the subsidiary ATEC Advances InVictus.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
A favorable reimbursement scenario is the key factor driving market growth. Various reforms, such as the Affordable Care Act (Obamacare) in the US healthcare system, provide medical insurance coverage for more people. This allowed patients with back pain to receive the best treatment with spinal implants. In North America, these spinal implants are quite popular and are the best alternative methods of treatment for chronic pain management in the upper and lower limbs. In addition, Europe has well-established reimbursement policies for spine pain management procedures and implants.
Moreover, major European countries such as Germany, France, Austria, and Spain also adopted techniques, such as kyphoplasty and vertebroplasty, and allowed reimbursements for both spinal fusion and fusion implants and non-fusion implants. In Asia, reimbursement coverage for spinal implants has improved significantly over the last few years. Therefore, increasing reimbursements for orthopedic surgeries in key regions worldwide are expected to drive market growth during the forecast period.
New technologies related to orthopedic pedicle screws is the primary trend shaping market growth. Companies focusing on the development of next-generation technology solutions for orthopedic pedicel screws to facilitate the fixing of these screws during the surgeries will increase the adoption of orthopedic-related surgeries. In 2021, Biedermann Motech, the Germany-based medical technology manufacturer, announced the launch of its advanced pedicle screw platform MOSS VRS as a fully modular solution.
Moreover, the MOSS VRS system, a new-generation pedicle screw technology, allows surgeons to lock the pedicle screw at any angle at any time during the surgery. This system allows for the locking and unlocking of pedicle screws during complex correction and reconstruction maneuvers according to the requirement of the surgeon. Thus, such factors are expected to drive the growth of the global orthopedic pedicle screws market during the forecast period.
High costs of product design and development is a challenge that affects market growth. New product development and design require high cost and time. Fulfilling regulatory strategy requirements is a major concern while developing a new implantable medical device. The manufacturers are also subjected to periodic inspections for compliance with applicable quality system regulations, which govern the designing, manufacturing, packaging, and servicing of finished medical devices intended for use in humans.
Moreover, the product development and R&D of the product require huge investment. Such a factor also restricts the entrance of new vendors into the market. The new players entering the market face challenges like huge capital investment and regulatory issues. These factors also increase the cost of impactable medical devices. Hence, such factors are major challenges to the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Orthopedic Pedicle Screws Market Customer Landscape
The orthopedic pedicle screws market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Orthopedic Pedicle Screws Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.83% |
Market Growth 2024-2028 |
USD 342.76 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.28 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 39% |
Key countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alphatec Holdings Inc., B.Braun SE, Captiva Spine Inc., CarboFix Orthopedics Ltd., Dieter Marquardt Medizintechnik GmbH, Evolution Spine, Genesys Orthopedic Systems LLC, Globus Medical Inc., Johnson and Johnson, Medacta International SA, Medtronic Plc, Mirus LLC, Orthofix Medical Inc., OrthoPediatrics Corp., Safe Orthopaedics SA, Spinal Elements Inc., Spineart SA, SpineGuard SA, Stryker Corp., and Zimmer Biomet Holdings Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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