Selbyville, Delaware, Jan. 31, 2022 (GLOBE NEWSWIRE) --
The pedicle screw system market size is anticipated to record a valuation of USD 3.4 billion by 2027, according to the most recent study by Global Market Insights Inc. Increasing demand for robotic and IG surgeries is anticipated to boost the adoption of minimally invasive surgeries across the globe. This is attributed to visualize the safety during critical spinal surgeries with tiny incisions, and safeguarding organs near the operative location.
Polyaxial pedicle screw segment accounted for more than USD 1.1 billion in 2020 led by the benefits and advantages associated with the polyaxial screws, as they provide increased construct stability with the help of easy rod connection. Polyaxial screws allow the lateral mass screws to be applied in the appropriate trajectory, with the appropriately conformed rod applied after screw application.
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The open surgery segment dominated more than 77.3% of the pedicle screw system market share in 2020 impelled by the rising demand of open surgery to perform complex operation along with its fewer post-surgical infection rate. For instance, as per the BioMed Research International article, the post-surgical infection rate is less than 2.5% in spine open surgeries. Thus, low risk of infection in open surgery will attract more patient to opt for such surgeries, thereby augmenting the segment growth. Furthermore, the increasing rate of accidents and growing cases of compound fractures will further stimulate the segment expansion.
The spinal deformities segment in the pedicle screw system market is expected to showcase 3.3% growth rate through 2027. Spinal deformity is becoming more common as adults 55–64 years of age are the fastest growing proportion of the U.S. population. For instance, according to the Journal of Spine Surgery, the prevalence of spinal deformities increases with age, affecting between 30% and 68% of the elderly population. Therefore, as the percentage of elderly in the U.S. accelerates, more patients are slated to present with painful spinal conditions
The cervical fusion segment is poised to reach USD 475 million by 2027. The cervical pedicle screw system is considered as the most effective instrumentation for posterior cervical fusion surgery, as they add extra support and strength to the fusion while it heals. Moreover, with technological advancements and rising prominence of minimally invasive techniques, the market is predicted to witness a healthy growth during the forecast period.
Asia Pacific pedicle screw system market is projected to expand at more than 4% till 2027 on account of the increased acceptance of these devices in treating degenerative spinal disorders. The steep rise in the incidences of sports-related, spinal cord injury (SCI) and accidental fracture cases resulted in high product usage. For instance, in 2019, according to the National Safety Council (NSC), around 526,000 individuals were diagnosed with sports and recreation-related injuries in countries of Asia Pacific. Also, significant damage to the vertebral column, extensive loss of sensory functions, or motor control of limbs occurs largely in such traumas.
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A few notable companies operating in the market include Stryker Corporation, B Braun Melsungen, Zimmer Biomet and DePuy Synthesis Spine Inc. Industry players are focusing on various strategies such as acquisitions, business expansion and novel product launches to consolidate their market presence.
Table of Contents (ToC) of the report:
Chapter 3 Pedicle Screw System Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product type
3.4.2 By surgery
3.4.3 By indication
3.4.4 By application
3.5 COVID-19 impact analysis
3.6 Porter's analysis
3.7 Competitive landscape, 2020
3.7.1 Company matrix analysis
3.8 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
