Categories: Healthcare

Pedicle Screw Systems Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Pedicle Screw Systems Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Pedicle Screw Systems Global Market Report 2024, The pedicle screw systems market size has grown strongly in recent years. It will grow from $5.4 billion in 2023 to $5.68 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to advancements in surgical techniques, rise in spinal disorders, aging population, research and development, regulatory approvals and standards.

The pedicle screw systems market size is expected to see steady growth in the next few years. It will grow to $6.8 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to adoption of value-based healthcare models, patient preference for improved quality of life, surgeon training and education programs, market competition and product development. Major trends in the forecast period include personalized implants, navigation and robotics, biocompatible materials, focus on minimally invasive surgery (mis), expandable and adjustable systems, wireless implantable monitoring.

The rise in the prevalence of arthritis is expected to drive the growth of the pedicle screw systems market going forward. Arthritis is a term used to describe joint pain or joint disease. Pedicle screw systems are used to achieve the accuracy and safety of cervical pedicle screw insertion in patients with cervical disorders, including those with rheumatoid arthritis (RA). For instance, in October 2021, according to Centers for Disease Control and Prevention, a US-based agency for the department of Health & Human Services, by 2040, approximately 78.4 million adults who are 18 years or older (equivalent to 25.9% of the anticipated total adult population) will be diagnosed with arthritis, which is an increase from 63 million in 2020. Therefore, the rise in the prevalence of arthritis is expected to propel the growth of the pedicle screw systems market.

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The pedicle screw systems market covered in this report is segmented –

1) By Product: Monoaxial Pedicle Screw, Polyaxial Pedicle Screw, Other Products

2) By Surgery Type: Open Surgery, Minimally Invasive Surgery

3) By Indication: Spinal Trauma Injuries, Spinal Deformities, Spinal Degeneration, Other Indications

4) By Application: Hospitals, Clinic, Other Applications

Product innovation is a key trend gaining popularity in the pedicle screw systems market. Major companies operating in the pedicle screw systems market are focused on developing innovative products to strengthen their position and gain a competitive advantage. For instance, Intelivation Technologies, a US-based medical equipment manufacturer, launched Golden Isles Pedicle Screw System. The system is specifically created to offer immobilization and stabilization to spinal segments in adults when treating the lumbar and sacral spine. It is intended for non-cervical pedicle fixation at the back for patients who have reached skeletal maturity and is intended to address a variety of conditions such as deformities, trauma, degenerative disc disease, pseudoarthrosis, spondylolisthesis, and failed previous fusions.

The pedicle screw systems market report table of contents includes: