Pedicle Screw System Market by Product Type (Monoaxial & Polyaxial Pedicle Screw), Surgery (Open Surgery, Minimal Invasive Surgery), Indication (Spinal Deformities, Spinal Trauma), Application (Thoracolumbar, Cervical Fusion) - Global Forecast to 2023
“The global pedicle screw systems market projected to grow at a CAGR of 6.1% during the forecast period.”
The pedicle screw systems market is expected to reach USD 724.23 million by 2023 from USD 538.64 million in 2018, at a CAGR of 6.1%. The major factors driving the growth of this market are the increasing incidence of spinal injuries, rising geriatric population and the subsequent increase in the prevalence of age-associated orthopedic disorders (arthritis and osteoporosis), technological advancements, and the growing preference for minimally invasive surgeries. On the other hand, the stringent regulatory framework and time-consuming approval process and product recalls and failures could hinder market growth to a certain extent.
“The polyaxial pedicle screw systems segment dominated the market in 2018.”
On the basis of product type, the pedicle screw systems market has been segmented into monoaxial, polyaxial, and other pedicle screw systems. In 2018, the polyaxial pedicle screw systems segment is projected to account for the largest share of the microarray analysis market. The large share of this segment is primarily attributed to the increasing prevalence of spinal degeneration disorders and product launches.
“The minimally invasive surgery segment is estimated to grow at a rapid rate during the analysis period.”
Based on surgery type, the pedicle screw systems market is segmented into open surgery and minimally invasive surgery. The minimally invasive surgery segment is expected to grow at the fastest rate during the forecast period due to their advantages over open surgeries, low treatment cost, and technological advancements in MIS devices.
“Asia Pacific is estimated to register the highest CAGR during the study period.”
In this report, the pedicle screw systems market is segmented into four major regional segments—North America, Europe, Asia Pacific, and the Rest of the World. The pedicle screw systems market in the Asia Pacific is projected to register the highest growth during the forecast period. The increasing incidence and prevalence of spinal cord injuries and rising geriatric population in the region are the key factors driving market growth.
The primary interviews conducted for this report can be categorized as follows:
By Company Type: Tier 1—70% and Tier 2—30%
By Designation: C-level—62%, Director-level—21%, Others—17%
By Region: North America—50%, Europe—20%, Asia Pacific—30%
The major players in the pedicle screw systems market include Medtronic (Ireland), DePuy Synthes (US), Zimmer Biomet (US), Globus Medical (US) and B. Braun (US).
The report analyses the pedicle screw systems market by product type, surgery type, indication, application, and region. Apart from comprehensive geographic product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles include the product portfolios, developments, and strategies adopted by prominent market players to maintain and increase their shares in the market. Market research data, current market size, and forecast of future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output to remain successful in the market.
Key benefits of buying the Report:
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms garner greater market shares. Firms purchasing the report can use any one or a combination of the below mentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the key players in the pedicle screw systems market
Product Development/Innovation: Detailed insights on product approvals, R&D activities, and product launches in the pedicle screw systems market
Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of leading players in the pedicle screw systems market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various pedicle screw systems across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the pedicle screw systems market