A recent market report by Future Market Insights (FMI) projects that the global pedicle screw system market sales will reach US$ 6.46 billion by 2029, growing at a compound annual growth rate (CAGR) of 4.6% from its anticipated US$ 4.46 billion in 2021.
This growth is majorly driven by the increasing implantation of pedicle screw systems for management of degenerative diseases of the lumbar spine in elderly population, development of minimally invasive techniques that replace traditional open spine surgeries, increase in demand for short-segment surgical treatments and increasing prevalence of delirium in the perioperative period in the elderly population and others.
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As robotic and minimally invasive surgeries gain prominence in today’s operating rooms, manufacturers of pedicle screw systems are placing their focus on novel technologies to maintain innovation supremacy. According to FMI’s analysis, market players are also targeted towards newer materials with improved biomechanical performance.
East Asia’s Market Attractiveness Rising
North America and Europe are anticipated to hold relatively high shares in terms of value in the global pedicle screw systems market. However, the East Asia market is expected to project lucrative growth in the global pedicle screw market over the forecast period of 2019-2029. This growth in the region is propelled by rapid healthcare investments and favorable government policies in China to encourage many start-up companies including medical device companies engaged in pedicle screw production to setup their manufacturing facilities. Besides, presence of technologically advanced country such as Japan will also boost the growth of the pedicle screw system market in the region. Japan has been reaping the first-mover advantage banking on its technological primacy, which is further complemented by technological sophistication in elderly care within the country. New robotic system are thus being implanted for guiding the pedicle screw system implementation in elderly patients, thereby solidifying Japan’s position in the global market.
Considering the rising demand for pedicle screw systems in East Asia, many local as well as international manufacturers are focusing on the development of low-cost pedicle screw systems meant for spinal navigation. There is also a growing trend in China to manufacture pedicle screw systems or spinal implants using titanium alloys. Pedicle screw systems including screws, rods, cages and plates are being manufactured with titanium over steel, as they offer high tensile strength, enhanced durability, and lightweight properties. With increasing demand for titanium-based spinal implants in the region, it is attracting key players and local manufactures to invest more in the region.
Hospitals to Remain Key End User of Pedicle Screw Systems
The global market of pedicle screw systems has been segmented on the basis of different material, multiple applications, and regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East and Africa.
- By material, titanium alloy is expected to witness significant adoption in the global pedicle screw systems market. Increasing demand for titanium alloy can be attributed to its physical endurance properties that make it as one of the safest and more reliable materials for spine surgical implants.
- Rise in the use of pedicle screw systems for treating fractures is likely to result in increased market share during the forecast period. Growing number of road accidents, trauma, orthopedic, degenerative disc disease, fracture, dislocation and spinal tumor offers substantial market potential for pedicle screw system. Further, introducing advanced pedicle screw system based on instrumentation design for smooth implantation, and increasing their applications in numerous surgical spine facture procedures will help in leveraging untapped market opportunities.
Pedicle Screw Systems Market: Manufacturer Insights
The report highlights some of the prominent market players, who have established themselves as leaders in the global pedicle screw market. Some of the examples of key players in the global pedicle screw systems market are Medtronic plc, DePuy Synthes Inc, Zimmer Biomet Inc, Stryker Corp, Orthofix Inc and NuVasive Inc., among others.
The global pedicle screw systems market is significantly consolidated with some players holding prominent shares of the market. These players are offering pedicle screw systems under their popular brands such as CD Horizon® Spinal System, EVEREST Minimally Invasive and EXPEDIUM® System, among others.
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Pedicle Screw System Market by CategoryBy 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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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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