Bone Screw System Market : Global Trends 2027
Bone Screw System Market: Drivers and Restraints
The key contributor to the growth of global Bone Screw System market is increasing number of trauma and orthopaedic disorders specifically associated with teenagers and elderly people. Technological advancements with nanotechnology and robotics has led to the development of biodegradable, auto-dissoluble and affordable bone screws, adding to the growth of the market. However, the complications associated with bone screws such as microbial infection, haematoma, non-union and avascular necrosis etc. have limited the market growth. Drawbacks of bone screws such as to leave holes in bones, surgical removal and airport security add to the limitations.
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Bone Screw System Market: Overview
Global Bone Screw System market is highly fragmented with the presence of number of players. Approximately 5 million people die from injuries across the globe annually, equivalent to the number of deaths caused by HIV/AIDS, malaria, and tuberculosis combined. 90% of these injuries happen in developing countries and the number is growing. Road accidents claim 1.2 million of these 5 million deaths. In addition, annually 20 to 50 million people are injured in road accidents. According to the statistics available from Centers for Disease Control and Prevention, 2.5 million people were hospitalized due to injuries in 2014 and 26.9 million people were treated in an emergency department for injuries in 2014. In the USA, Injury and violence led an economic burden of USD 671 billion in 2013. Europe witnessed 151,000 deaths due to accidents in 2013. The World Health Organization has stated that 90% of the world's causalities on the roads occur in low- and middle-income countries highest in Africa, even though these countries have around 50% of the globe's vehicles.
Bone Screw System Market: Region-wise Outlook
Geographically, Bone Screw System Market is segmented into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan, Middle East and Africa. Developed markets like North America is currently the leader of the market followed by Europe. Asia Pacific bone screw market is expected to register a rapid pace of growth due to supportive environment from governments. India may become an export hub for medical devices for other developing countries. The domestic industry is improving their research & development capabilities to introduce innovative devices.
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Bone Screw System Market: Key Players
The key players in the global Bone Screw System Market include Medtronic, DePuy Synthes, Zimmer Biomet, Instratek, Wright Medical Technology, Inc., Acumed, OsteoMed, Stryker Corporation, Integra LifeSciences Corporation, Custom Spine, Inc, Orthofix Holdings, Inc, SmithNephewplc and BioPro.
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