Pedicle Screw Systems Market is anticipated to grow at a CAGR of above 6 % from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Pedicle Screw Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the global pedicle screw systems market accounted for over US$ 570.8 million in 2019. It is anticipated to grow at a CAGR of above 6 % from 2020 to 2030.
The increasing incidents of spinal cord injuries are expected to propel growth of the pedicle screw systems market. According to the Australian Spinal Injury Alliance, spinal cord injuries are more common in the age group, 15-24 years, which accounts for approximately 30% of total spinal cord injuries in Australia. Moreover, spinal-cord-related problems are also observed in populations in the age group, 65 & above. Degenerative changes in discs & joints, spinal stenosis, and spondylolisthesis are frequent causes of spinal disorders among the rising geriatric population. Hence, spinal cord fusions are increasingly performed in cases of degenerative disc disorders, spinal stenosis, tumors, and spinal weakness in cases of severe arthritis.
Increasing technological innovations are driving the development of several new pedicle screw systems. For instance, in April 2020, Precision Spine, Inc. launched the Reform Ti Titanium Pedicle Screw System. This system provides surgeons with increased flexibility, versatility, and visibility for immobilization and stabilization of spinal segments in skeletally mature patients suffering from conditions such as degenerative spondylolisthesis, fracture, dislocation, scoliosis, kyphosis, and spinal tumor. Similarly, in January 2018, Globus Medical, Inc. launched the CREO Fenestrated Screw System for the treatment of patients suffering from advanced-stage tumors of the thoracolumbar spine. CREO systems allow cement augmentation after screw placement to restore the structural integrity of the spine at vertebral levels affected by metastatic bone disease.
However, stringent healthcare norms and FDA regulations pose challenges for new product approvals. Moreover, product failure and product recalls are likely to restrain growth of the pedicle screw systems market to some extent.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Pedicle Screw Systems Market By Product Type (Monoaxial Pedicle Screw Systems and Polyaxial Pedicle Screw Systems), Surgery Type (Minimally Invasive Surgery and Open Surgery), Indication (Spinal Trauma, Spinal Degeneration, and Spinal Deformities), Application (Cervical Fusion and Thoracolumbar Fusion) - Global Analysis & Forecast 2020-2030 in detail along with the table of contents:https://www.marketindustryreports.com/pedicle-screw-systems-market/348
Asia Pacific is estimated to grow at the highest CAGR in the pedicle screw systems market over the forecast period. The growth in this region can be attributed to the increasing incidents of spinal cord injuries, rapid healthcare investments and favorable government policies to encourage medical device companies to manufacture pedicle screw systems.
Some of the prominent players in the global pedicle screw systems market are Medtronic, B. Braun Melsungen AG, Globus Medical, DePuy Synthes Companies, Stryker, RTI Surgical Holdings, Inc., Life Spine, Inc., Orthofix Medical Inc., Zimmer Biomet, and CTL Amedica Corporation, among others.
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