According to a recent market study conducted by Future Market Insights (FMI), the global pedicle screw system market is poised for substantial growth. Valued at USD 4.71 billion in 2022, the market 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 FMI report underscores several pivotal factors driving this growth trajectory. The rising prevalence of degenerative diseases among the aging global population is a key contributor, fueling demand for pedicle screw systems. These systems are increasingly favored for managing degenerative conditions of the lumbar spine through minimally invasive techniques, which offer advantages over traditional open surgeries. Additionally, there is a growing preference for short-segment surgical treatments and increased awareness of perioperative challenges such as delirium in the elderly.
As the healthcare sector evolves, the pedicle screw system market is witnessing a shift towards advanced technologies. Innovations in robotic-assisted and minimally invasive surgeries are becoming more prevalent, with manufacturers focusing on material advancements to enhance biomechanical performance and meet the evolving needs of surgeons and patients.
“With the aging population and advancements in surgical techniques, the global pedicle screw system market is set for significant growth in the coming years,” commented a FMI. “Market participants are actively investing in research and development to introduce novel technologies that improve patient outcomes and surgical efficiencies.”
Key Takeaways:
- The pedicle screw system market experienced steady growth with a CAGR of 4.4% between 2014 and 2021.
- It represented approximately 10.4% of the orthopedic implant market in 2021, equating to around USD 4.5 billion.
- The global market is expected to reach USD 6.46 billion by 2029, driven by a projected CAGR of 4.6%.
- The US leads the market due to its aging population and the increasing use of pedicle screws for spinal disorders.
- Germany dominates the European market, supported by a high prevalence of spinal disorders, trends towards minimally invasive surgeries, and government support for development.
- China is anticipated to exhibit the fastest growth, with a CAGR of 9.6%, driven by increased healthcare spending, a growing elderly population, and rising demand for spinal treatments.
Discover Market Trends: Access the Full Pedicle Screw System Market Report
Competitive Landscape:
Key players in the pedicle screw systems market include Medtronic plc, Aesculap Implant Systems LLC, Alphatec Holdings Inc., DePuy Synthes Inc., Evolution Spine LLC, Exactech Inc., Globus Medical Inc., Implanet SA, Life Spine Inc., NuVasive Inc., Orthofix Inc., Qualgenix LLC, RTI Surgical Inc., Solco Biomedical Co Ltd., Stryker Corp, and Synthes Inc. These companies are focusing on product innovations, regulatory approvals, and strategic expansions to maintain competitive advantage.
Recent developments include:
- September 2021: Intelivation Technologies received FDA 510(k) Clearance for its Golden Isles Pedicle Screw System™.
- June 2021: Neo Medical obtained FDA 510(k) clearance for its pedicle screw system for late-stage tumor indications, in combination with BonOs Inject cement from OSARTIS.
- September 2019: Stryker announced its definitive agreement to acquire Mobius Imaging & Cardan Robotics.
Market Segmentation:
- 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, Two-level, Three-level, 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)
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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