Pedicle Screw System Market – Global Forecast to 2023: Rising Geriatric Population, Technological Advancements & Growing Preference for Minimally Invasive Surgeries
DUBLIN, Oct. 17, 2018 /PRNewswire/ —
The “Pedicle Screw System Market by Product Type (Monoaxial & Polyaxial Pedicle Screw), Surgery (Open, Minimal Invasive), Indication (Spinal Deformities, Spinal Trauma), Application (Thoracolumbar, Cervical Fusion) – Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The global 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 cord injuries, the growing preference for minimally invasive surgeries, and a rising geriatric population.
By product type, the pedicle screw systems market is segmented into monoaxial, polyaxial, and other pedicle screw systems. In 2018, the polyaxial pedicle screw systems segment is estimated to command the largest share of the pedicle screw systems market. The large share of this segment can be attributed to the increasing incidences and prevalence of spinal cord injuries.
On the basis of surgery type, the pedicle screw systems market has been segmented into open surgery and minimally invasive surgery. The open surgery segment is expected to account for the largest share of the pedicle screw systems market in 2018. The large share of this segment can be attributed to the rising geriatric population and increasing incidence of spinal deformities.
Based on indication, the pedicle screw systems market has been segmented into spinal degeneration, spinal trauma, spine deformities, and other indications. In 2018, the spinal degeneration segment is projected to account for the largest share of the pedicle screw systems market. The increasing incidence of degenerative spinal disorders is the major driving factor for this market.
By application, the market is categorized into thoracolumbar fusion and cervical fusion. In 2018, thoracolumbar fusion is expected to command the largest share of this market. The increasing incidences of lumbar degenerative disc diseases and the launch of new products are key factors driving the growth of the thoracolumbar fusion segment.
The market is dominated by North America, followed by Europe. North America will continue to dominate the market during the forecast period. The rising geriatric population and increasing incidence of spinal disorders in this region are the major factors supporting the growth of the pedicle screw systems market in North America.
Stringent regulatory frameworks and time-consuming product approval processes may hinder the growth of the pedicle screw systems market to a certain extent.
The major players in the pedicle screw systems market include Globus Medical (US), DePuy Synthes (US), Zimmer Biomet (US), B. Braun (US), Stryker (US), and Medtronic (Ireland).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Pedicle Screw Systems Market Overview
4.2 Asia Pacific: Pedicle Screw Systems Market, By Product Type (2018)
4.3 Pedicle Screw Systems Market, By Region (2018)
4.4 Geographical Snapshot of the Pedicle Screw Systems Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Incidence of Spinal Injuries
5.2.1.2 Rising Geriatric Population
5.2.1.3 Technological Advancements
5.2.1.4 Growing Preference for Minimally Invasive Surgeries
5.2.2 Opportunities
5.2.2.1 Emerging Economies Present Significant Growth Opportunities
5.2.3 Challenges
5.2.3.1 Stringent Regulatory Framework and Time-Consuming Approval Process
5.2.3.2 Product Failures and Recalls
6 Pedicle Screw Systems Market, By Product Type
6.1 Introduction
6.2 Polyaxial Pedicle Screw Systems
6.3 Monoaxial Pedicle Screw Systems
6.4 Other Pedicle Screw Systems
7 Pedicle Screw Systems Market, By Surgery Type
7.1 Introduction
7.2 Open Surgery
7.3 Minimally Invasive Surgery
8 Pedicle Screw Systems Market, By Indication
8.1 Introduction
8.2 Spinal Degeneration
8.3 Spinal Trauma
8.4 Spinal Deformities
8.5 Other Indications
9 Pedicle Screw Systems Market, By Application
9.1 Introduction
9.1.1 Thoracolumbar Fusion
9.1.2 Cervical Fusion
10 Pedicle Screw System Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.3 Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 Rest of Asia Pacific
10.5 Rest of the World
11 Competitive Landscape
11.1 Overview
11.2 Market Ranking Analysis, 2017
11.3 Competitive Scenario
11.3.1 Product Launches and Approvals
11.3.2 Acquisitions
11.3.3 Expansions
12 Company Profiles
- Alphatec Spine, Inc. (A Subsidiary of Alphatec Holdings, Inc.)
- B. Braun Melsungen AG
- Depuy Synthes (A Subsidiary of Johnson & Johnson)
- Globus Medical, Inc.
- KM Group Holdings, Inc.
- Medtronic PLC
- Orthofix International N.V.
- RTI Surgical, Inc.
- Stryker Corporation
- Zimmer Biomet Holdings, Inc.
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