Pedicle Screw Systems Market worth $724.23 million – Increasing Incidence of Spinal Injuries

PUNE, India, 2021-Aug-13 — /EPR Network/ —

According to the new market research report “Pedicle Screw Systems Market by Product Type (Monoaxial & Polyaxial Pedicle Screw), Surgery (Open Surgery, Minimal Invasive Surgery), Indication (Spinal Deformities, Spinal Trauma), Application (Thoracolumbar, Cervical Fusion) – Global Forecast” published by MarketsandMarkets™, the major factors driving the growth of this market are the increasing incidence of spinal cord injuries, the growing preference for minimally invasive surgeries, and a rising geriatric population.

Worldwide Growth Opportunities in Terms of Revenue:

The Global Pedicle Screw Systems Market is expected to reach USD 724.23 million by 2023 from USD 538.64 million in 2018, at a CAGR of 6.1%.

Polyaxial pedicle screw systems are expected to account for the largest market share in 2018

On the basis of product type, segmented into monoaxial, polyaxial, and other pedicle screw systems. In 2018, the polyaxial pedicle screw systems segment is expected to account for the largest share of the global pedicle screw systems market. The large share of this market segment can be attributed to the increasing prevalence of spinal cord disorders and product launches.

Open surgery is estimated to account for the largest share of the pedicle screw systems market in 2018

By surgery type, segmented into open surgery and minimally invasive surgery. In 2018, the open surgery segment is expected to account for the largest share of the pedicle screw market due to the rising geriatric population, increasing incidence of spinal deformities, and technological advancements in spinal fusion surgeries.

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Regional Growth, Development and Demand Analysis:

The pedicle screw system market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2018, North America is expected to account for the largest share of the global market. The increasing incidence of spinal cord injuries, along with rising geriatric population in this region, are supporting the growth of the pedicle screw market in North America.

Stringent regulatory frameworks and time-consuming product approval processes may hinder the growth of the pedicle screw systems market to a certain extent.

Major Key Players Mentioned in the research report are:

Key players in the pedicle screw systems market include DePuy Synthesis (US), Globus Medical (US), Zimmer Biomet (US), B. Braun (US), Medtronic (Ireland), and Stryker (US).

DePuy Synthes held the leading position in the global pedicle screw system market. The company has a strong product portfolio of pedicle system products. In order to further expand and maintain its leading position in this market, it focused on inorganic and organic strategies such as acquisitions, product launches & approvals. For instance, in 2017, the company acquired Sentio, LLC (US) to strengthen its portfolio of minimally invasive spine surgery. In 2017, The Company launched the VIPER and EXPEDIUM Fenestrated Screw Systems. Such developments helped the company strengthen its position in the pedicle screw systems market.

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