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Orthopedic Screws Market Overview, Trends Analysis
Orthopedic Screws Market Overview
As per the report, the orthopedic screws market size has grown strongly in recent years. It will grow from $1.19 billion in 2023 to $1.26 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. 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%.
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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.
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.
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
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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.
Contents of the report:
1. Executive Summary
2. Orthopedic Screws Market Report Structure
3. Orthopedic Screws Market Trends And Strategies
4. Orthopedic Screws Market - Macro Economic Scenario
5. Orthopedic Screws Market Size And Growth
…..
27. Orthopedic Screws Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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