The global bone screw system industry is poised for substantial growth, with a projected net worth of US$ 1,963.9 million by 2028, as revealed in a recent market analysis for 2022. Currently valued at US$ 1,354.1 million in 2022, the market is expected to witness a robust compound annual growth rate (CAGR) of 6.4% over the forecast period.
The escalating demand for bone screws is being fueled by rising incidences of fractures, soft-tissue injuries, and orthopedic ailments worldwide. Bone screws play a critical role in osseous attachment implantation and soft tissue fixation, thereby contributing significantly to the establishment of better bone structures and facilitating healing processes.
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As a leading player in the industry, FMI is at the forefront of driving innovation and meeting the growing demands of the global bone screw system market. With our commitment to excellence and cutting-edge technology, we are dedicated to providing high-quality solutions that enhance patient outcomes and improve healthcare practices worldwide.
The growing prevalence of orthopaedic conditions has spurred the urgent need for advanced medical technologies across both developed and developing nations. Shockingly, annually, between 20 to 50 million accidents and disabilities occur, further exacerbating the burden of orthopaedic challenges globally, a fact validated by the World Health Organization (WHO).
“As fractures and orthopaedic issues continue to rise globally, the demand for innovative bone screw systems is witnessing a significant surge. These systems are not just instrumental in addressing bone-related concerns but also contribute substantially to enhancing patient outcomes,” stated Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.), a leading industry analyst in the field.
The World Health Organization’s endorsement of the urgent need to address orthopaedic challenges underlines the critical role that advanced bone screw systems play in mitigating the impact of injuries and disabilities.
Technological advancements and ongoing research initiatives are expected to revolutionize the bone screw system market, offering more efficient and patient-friendly solutions. This evolution is poised to benefit both healthcare providers and patients, ensuring better outcomes and improved quality of life.
The projected growth trajectory of the bone screw system market signifies a promising landscape for investors, healthcare professionals, and stakeholders looking to participate in the burgeoning orthopaedic healthcare sector.
Key Takeaways from Bone Screw System Market:
- North America holds the largest market share due to growing frequency of road accidents and sports injuries. The Center for Medicare and Medicaid Services (CMS) dated 2019, every seventh American does suffer from orthopedic disorder. Also, the National Highway Traffic Administration has mentioned that nearly 5.25 Million road accidents take place in the US every single year.
- Europe is expected to hold more than 26% of the market share. This could be attributed to increase in surgeries related to orthopedic trauma. Osteoporosis is also growing at an alarming rate. It needs to be noted that surgeons are using the hip IM nails in the form of substitutes to compression hip screws for treating proximal femoral fractures.
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Competitive Landscape:
- DePuy Synthes (a Johnson & Johnson Medical Devices Company), in December 2021, completed acquisition of OrthoSpin, Ltd., with the objective of manufacturing and developing an automated strut system. This was done in association with ‘DePuy Synthes MAXFRAMETM Multi-Axial Correction System (an external ring fixation system).
- Silver Bullet Therapeutics, Inc., in October 2021, formally launched OrthoFuzlon Bone Screw System at DKOU German Congress of Orthopedics and Traumatology (Berlin – October 2-28). The company showcased its product line of OrthoFuzlon at Argomedical’s booth number 61 in Hall 4.2.
“The fact that bone screw system is increasingly used to have surgical internal fixation of bones is expected to take the bone screw system by storm in the near future”, says an analyst from Future Market Insights.
Key Companies Profiled:
- Arthrex
- CONMED Corporation
- DePuy Synthes
- Integra LifeSciences
- Medtronic
- ORTHOFIX INTERNATIONAL N.V
- Smith & Nephew
- Stryker Corporation
- Wright Medical Group N.V
- ZIMMER BIOMET HOLDINGS, INC
How does the Report go about?
- The research study is based on material type (stainless-steel bone screw system, titanium screw bone screw system, and bio-absorbable screw bone screw system), by application (lower extremity bone screw system, upper extremity bone screw system, spinal bone screw system, and other bone screw system), and by end-user (bone screw system for hospitals, bone screw system for clinics, and bone screw system for Ambulatory Surgical Centers).
- Bone screw system is being increasingly used to enable internal fixation for holding bone fragments altogether or for affixing an implant, like plate to bone. This factor is expected to help the bone screw system market flourish in the upcoming period.
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Key Segments Covered in Bone Screw System Industry Survey:
Bone Screw System by Material Type:
- Stainless-Steel Bone Screw System
- Titanium Screw Bone Screw System
- Bio-absorbable Screw Bone Screw System
Bone Screw System by Application:
- Lower Extremity Bone Screw System
- Upper Extremity Bone Screw System
- Spinal Bone Screw System
- Other Bone Screw Systems
Bone Screw System by End User:
- Bone Screw System for Hospitals
- Bone Screw System for Clinics
- Bone Screw System for Ambulatory Surgical Centers
Bone Screw System by Region:
- North America Bone Screw System Market
- Latin America Bone Screw System Market
- Europe Bone Screw System Market
- South Asia & Pacific Bone Screw System Market
- East Asia Bone Screw System Market
- MEA Bone Screw System Market
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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