According to a recent market study by Future Market Insights (FMI), the global pedicle screw system market, valued at USD 4.71 billion in 2022, is projected to reach USD 6.46 billion by 2029, expanding at a compound annual growth rate (CAGR) of 4.6% during the forecast period.
The report highlights several key factors driving this growth, including the increasing prevalence of degenerative diseases among the geriatric population worldwide. This demographic trend is fueling the demand for pedicle screw systems, particularly for managing degenerative conditions of the lumbar spine through minimally invasive techniques, which are gaining preference over traditional open surgeries. Additionally, there is a rising demand for short-segment surgical treatments and heightened awareness regarding perioperative challenges such as delirium among the elderly.
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As the healthcare landscape evolves, the market for pedicle screw systems is witnessing a shift towards advanced technologies, including robotic-assisted and minimally invasive surgeries. Manufacturers are increasingly focusing on innovations in materials to enhance biomechanical performance and meet the growing demands of surgeons and patients alike.
“With the aging population and advancements in surgical techniques, the global pedicle screw system market is poised for substantial growth in the coming years,” commented a spokesperson from FMI. “Market players are actively investing in research and development to introduce novel technologies that improve patient outcomes and surgical efficiencies.”
The FMI report provides comprehensive insights into market dynamics, competitive landscapes, and strategic recommendations for stakeholders looking to capitalize on emerging opportunities in the pedicle screw system market.
Key Takeaways: Pedicle Screw System Market Growth
- The pedicle screw system market is steadily growing, with a CAGR of 4.4% between 2014 and 2021.
- It represents a significant portion of the orthopedic implant market, accounting for roughly 10.4% (around USD 4.5 billion) in 2021.
- The global market is expected to reach USD 6.46 billion by 2029, driven by a projected CAGR of 4.6%.
- The US dominates this region due to its aging population and rising use of pedicle screws for spinal disorders.
- Germany leads the European market due to factors like a high prevalence of spinal disorders, minimally invasive surgery trends, and government support for development.
- China is projected to see the fastest growth (CAGR of 9.6%) due to increased healthcare spending, a growing elderly population, and rising demand for spinal treatments.
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Pedicle Screw System Market by Category:
By Product:
- Cervical Pedicle Screw Systems
- Thoraco-Lumbar Pedicle Screw Systems
By Material:
- Stainless Steel
- Titanium Alloys
- Unalloyed Titanium
By Application:
- Spondylolisthesis
- Fracture
- Scoliosis
- Spinal tumor
- Failed fusion
- Others
By Level of Surgery:
- One-level Pedicle Screw Systems
- Two-level Pedicle Screw Systems
- Three-level Pedicle Screw Systems
- Four-level and higher Pedicle Screw Systems
By End-User:
- Hospitals
- Ambulatory Surgery Centers
- Specialized Clinics
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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