Press release
Orthopedic Screws Market 2024 -2033: Global Outlook, Industry Share, Business Growth And Major Players
Orthopedic Screws Market
The orthopedic screws market size is expected to see strong growth in the next few years. It will grow to $1.54 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to customization and patient-specific solutions, rise in minimally invasive surgeries, global increase in orthopedic procedures, expansion of sports medicine.. Major trends in the forecast period include regulatory compliance and standardization, global market expansion, collaborations and partnerships, orthopedic tourism, environmentally sustainable practices..
Market Overview -
Orthopedic screws are titanium or stainless-steel screws employed in surgical procedures to repair broken bones. They are utilized to create compression within the bone, aiding in the healing of the injury.
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Surge In Orthopedic Screw Market Driven By Escalating Road Accident Incidences
The rising incidence of road accidents is expected to propel the growth of the orthopedic screw market going forward. A road accident refers to an incident on a public roadway involving at least one vehicle, resulting in injury or fatality to at least one individual. The primary indications for orthopedic implant surgeries encompassing screws and plates are accidents or traumatic incidents, such as road accidents and sports-related injuries. For instance, in May 2023, according to the fatality fact sheet published by the Insurance Institute for Highway Safety, a US-based, non-profit educational organization associated with road safety awareness, the number of road accident crashes increased to 39,508 in 2021, engaging 61,332 motor vehicles, compared with 35,935 road accident crashes engaging 54,552 motor vehicles in 2020. Therefore, the rising incidences of road accidents will drive the growth of the orthopedic screw market.
Competitive Landscape -
Major companies operating in the orthopedic screws market report are Johnson and Johnson, Medtronic plc, Stryker Corporation, Solvay S.A., Zimmer Biomet Holdings Inc, Smith & Nephew plc, Arthrex Inc, Teleflex Incorporated, Integra LifeSciences Corporation, Wright Medical Group N.V., Tecomet Inc, Exactech Inc., Leistritz Advanced Technologies, Paragon 28 Inc, Acumed LLC, DJO Global, Elos Medtech, Precipart Inc, Royal Oak Medical Devices Inc, AccuRounds Inc, TYBER MEDICAL LLC, GPC Medical Ltd, Unity Precision Manufacturing, Hammill Medical Inc, Advanced Orthopaedic Solutions, Extremity Medical LLC, High Tech Turning Co, The Orthopaedic Implant Company, Diamond Orthopedic, Vilex Inc.
Orthopedic Screw Market Embracing Bioresorbable Implants For Enhanced Recovery And Reduced Invasiveness
Major companies operating in the orthopedic screw market focus on developing sustainable and innovative products, such as bioresorbable implants, to gain competitive advantages. Bioresorbable implants enhance recovery and reduce the invasiveness of procedures, eliminating the need for implant removal surgeries. For instance, in March 2023, Bioretec Inc., a Finland-based pediatric and adult orthopedic implant manufacturer, received U.S. Food and Drug Administration approval for the RemeOs trauma screw, the first orthopedic screw that involves a bioresorbable metal implant has been substantiated through clinical trials and has previously obtained recognition from the received U.S. Food and Drug Administration, which granted it the breakthrough device designation. These bioresorbable metals combine the surgical techniques of traditional metal implants with the patient-friendly care and benefits of recent bioresorbable polymer implants, rendering implant removal surgeries unnecessary.
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Key Segments -
The orthopedic screws market covered in this report is segmented -
1) By Type: Upper Extremity, Lower Extremity
2) By Material: Stainless Steel, Titanium, Bioabsorbable
3) By Application: Hospitals, Ambulatory Surgical Centers (ASCs), Other Applications
4) By End User: Pediatrics, Adults, Geriatrics
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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