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Pedicle Screw Systems Market Size Will Witness Substantial Growth And Outlook 2032 | Globus Medical Inc., Medtronic PLC, Orthofix Medical Inc., Stryker Corporation, DePuy Synthesis Spine Inc
Pedicle Screw Systems Market Growth
The Business Research Company's Pedicle Screw Systems Global Market Report 2023 identifies the rise in the prevalence of arthritis as the major driver for the Pedicle Screw Systems market's growth in the forecast period. Pedicle screw systems are used to achieve the accuracy and safety of cervical pedicle screw insertion in patients with cervical disorders, including those with rheumatoid arthritis (RA). For instance, in October 2021, according to Centers for Disease Control and Prevention, a US-based agency for the department of Health & Human Services, by 2040, approximately 78.4 million adults who are 18 years or older (equivalent to 25.9% of the anticipated total adult population) will be diagnosed with arthritis, which is an increase from 63 million in 2020.
The global pedicle screw systems market size is expected to grow from $5.12 billion in 2022 to $5.40 billion in 2023 at a compound annual growth rate (CAGR) of 5.54%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every market across the globe. The global pedicle screw systems market size is expected to reach $6.46 billion in 2027 at a CAGR of 4.59%.
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Major competitors in the Pedicle Screw Systems market are Globus Medical Inc., Medtronic PLC, Orthofix Medical Inc., Stryker Corporation, DePuy Synthesis Spine Inc., Zimmer Biomet, B. Braun SE, Alphatech Holdings Inc., RTI Surgical Inc., Johnson & Johnson, Atec Inc., CoreLink Holding LLC, Xtant Medical, Implant Systems LLC, Evolution Spine LLC, Exactech Inc., Implanet SA, Life Spine Inc., NuVasive Inc., Qualgenix LLC, and Solco Biomedical Pvt Ltd.
A key trend in the Pedicle Screw Systems market includes product innovation. Major companies operating in the pedicle screw systems market are focused on developing innovative products to strengthen their position and gain a competitive advantage. For instance, Intelivation Technologies, a US-based medical equipment manufacturer, launched Golden Isles Pedicle Screw System™. The system is specifically created to offer immobilization and stabilization to spinal segments in adults when treating the lumbar and sacral spine.
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The Pedicle Screw Systems market is segmented -
By Product: Monoaxial Pedicle Screw, Polyaxial Pedicle Screw, Other Products
By Surgery Type: Open Surgery, Minimally Invasive Surgery
By Indication: Spinal Trauma Injuries, Spinal Deformities, Spinal Degeneration, Other Indications
By Application: Hospitals, Clinic, Other Applications
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Pedicle Screw Systems market.
The Business Research Company's "Global Pedicle Screw Systems Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Pedicle Screw Systems Market Include:
1. Executive Summary
2. Pedicle Screw Systems Market Characteristics
3. Pedicle Screw Systems Market Trends And Strategies
4. Pedicle Screw Systems Market - Macro Economic Scenario
5. Pedicle Screw Systems Market Size And Growth
……
26. Africa Pedicle Screw Systems Market
27. Pedicle Screw Systems Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Pedicle Screw Systems Market
29. Pedicle Screw Systems Market Future Outlook and Potential Analysis
30. Appendix
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