Global Bone Screw System Market: Bioabsorbable Material Type to Witness Highest Demand During the Forecast Period by 2028

A fresh report has been added to the wide database of Market Research Report Search Engine (MRRSE). The research study is titled “Bone Screw System Market: Bioabsorbable Material Type to Witness Highest Demand During the Forecast Period: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028” which encloses important data about the production, consumption, revenue and market share, merged with information related to the market scope and product overview.

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Bone screws, also known as bone fixation screws, are medical devices that support internal bone fixation during an orthopaedic surgical procedure. Bone screw system are most often used for internal fixation to hold bone fragments together or to affix an implant, e.g. plate, to the bone. The material used for bone screw system production is inert, thus these screws try not to cause any irritation or allergic reactions inside the body. A bone screw system can be used to compress a fracture surface, fix a plate to a bone or it may be used to place and fix an external fixator or internal fixator to a bone. A position bone screw system keeps two fragments together holding in position without compression.

Bone screw system is a highly efficient instrument for the fasciation of a bone fragments by interfragmentary compression, or for fixing a plate, nail, or fixator to the bone. It is traditionally manufactured with preferred two choices of stainless-steel and titanium but technological shifts in healthcare facilities have led to the development of biocomposite materials and more affordable bone screw system. There are ranges of products available in order of their use, e.g., pedicle bone screw system is meant for spinal fusion, compression bone screw system is generally used for foot and ankle procedure or any bone that needs to bear stress. Manufacturing of these bone screw systems are mainly done in bulk in order to avoid cost pressure and are manufactured with different characteristics and designs, which are applicable for different targets.

Market Value and Forecast

The global bone screw system market is estimated to be worth US$ 1,042.9 Mn by 2018 end and is expected to expand at a CAGR of 6.5 % over the forecast period of 2018–2028. North America bone screw system market accounted for a large market share and was valued at US$ 250.2 Mn in 2017, and is expected to expand at a CAGR of 7.1% over the forecast period.

Market Dynamics

The growth of the global bone screw system market is primarily driven by increasing prevalence of pathological conditions and traumatic fractures, rising geriatric population in need of orthopaedic surgery and awareness programs conducted by public and private associations in different geographical regions. However, manufacturers on the global level for bone screw system production are engaged in developing products to get recognition and to be in use for a large population. Although there is an increase in number of client manufacturers and OEMs producing bone screw system, the bone screw system market is more accessible to new players with fragmented company profiles manufacturing them.

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However, the complications associated with bone screw system such as microbial infection, haematoma, non-union and avascular necrosis, have limited the market growth but leaves slight chance of using any alternative. Stringent FDA and other regulations and lack of proper treatment/diagnosis option for cases are some of the factors expected to hamper the growth of the global bone screw system market over the forecast period.

Market Segmentation by Material Types

Based on Material Types, the market has been segmented into:

Stainless-steel
Titanium
Bioabsorbable
The titanium material type segment accounted a significant share of around 45.1% in 2017, and is expected to be dominant choice for bone screw system throughout the forecast period, whereas the bioabsorbable material type for bone screw system is expected to register the highest CAGR growth as compared to other segments.

Market Segmentation by Patient Anatomy

Based on Patient Anatomy, the market has been segmented into:

Lower Extremity
Upper Extremity
Spinal
Others
The lower extremity segment accounted a significant share of around 39.5% in 2017 in the global bone screw system market and is expected to be dominant throughout the forecast period, whereas the spinal segment is expected to register a high CAGR growth as compared to other segments for the bone screw system market.

Market Segmentation by End Users

Based on end users, the market has been segmented into:

Hospital
Ambulatory Surgical Centre
Clinic
The hospital end-use segment accounted a significant share of around 66.0% in 2017, and is expected to be dominant throughout the forecast period, registering a stable CAGR as compared to other segments for the bone screw system.

Key Regions

Geographically, the North America bone screw system market is expected to be the dominant regional market by 2018 end and is expected to expand at a CAGR of 7.1% over the forecast period. The Asia-Pacific bone screw system market is expected to be a lucrative market in terms of revenue growth in the global bone screw system, registering a CAGR of 6.6% over the forecast period. MEA bone screw system market is the least attractive market for bone screw systems with a projected CAGR of 5.6% during the forecast.

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