Pedicle Screw Systems Market Growth
The strict regulatory frameworks and time-consuming product approval processes may hamper the growth of the Pedicle Screw Systems Market Growth during the assessment period. Additionally, increasing research and development spending by the top players are fueling the growth of the market during forecast period. For instance, according to report published by Iranian Journal of Neurosurgery, in 2016, prevalence of traumatic spinal cord injuries in Tehran ranged from 1.2 to 11.4 per 10,000 people. Also, according to the report published by The International Spinal Cord Injury (InSCI), in 2017, each year around 12,500 new cases of spinal cord injuries occur in United States.
Pedicle screw system are used in spinal surgery to stop the pain caused by joints owing to disease. The placement of the pedicle screw is independent of the laminar integrity and extends its application to a different level of spinal pathologies such as degenerative, oncological, degenerative and deformity correction.
The increasing incidences of spinal cord injuries, spinal deformities, degenerative spinal disorders, and rising geriatric population are the major factors driving the growth of the global pedicle screw system market.
Major Key Players:
Some of the key players in the global pedicle screw system market are Globus Medical, Inc., K2M Group Holdings, Inc., Medtronic PLC, Nvision Biomedical Technologies, LLC., Alphatec Spine, Inc., Amedica Corporation, B. Braun Melsungen AG, Depuy Synthes, Orthofix International N.V., RTI Surgical, Inc., SeaSpine, Stryker Corporation, Zimmer Biomet Holdings, Inc.
Segment Analysis
The Global Pedicle Screw Systems Market has been segmented on the basis of surgery type, product type, indication, application, and end user.
On the basis of surgery type, the market has been classified as open surgery and minimally invasive surgery. The market, by product type, has been segmented into polyaxial pedicle screw systems, monoaxial pedicle screw systems, stryker pedicle screw and others. Based on indication, the market has been segmented into spinal degeneration, spinal trauma, spinal deformities, and others. The market, by application, has been segmented into thoracolumbar fusion and spinal cervical fusion. On the basis of end user, the market has been classified as hospitals and clinics, research organization and academic institute, and others. On the basis of product type, polyaxial pedicle screw systems segment is likely to hold the largest market share of the pedicle screw systems market. Also, minimally invasive surgery to register the significant growth rate in the global pedicle screw systems market during the forecast period.
Regional Analysis
The market is likely to dominate by Americas during the forecast period owing to the rising aging population, rising incidence of spinal disorders, and rising in FDA approved pedicle screws. The European market is expected to be the second-largest due to government funding and support of the healthcare sector, coupled with increasing research and development. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to increasing investments in healthcare, increasing number of the orthopedic surgeries, expansions by market players in the region, and favorable government initiatives for healthcare facilities. The market in the Middle East & Africa is likely to account for the smallest share of the global pedicle screw system market.
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