June 14, 2019
LONDON–(BUSINESS WIRE)–Technavio’s latest market research report on the global orthopedic pedicle screws market predicts the market to witness a CAGR of more than 6% during the forecast period. This research report segments the market by product (monoaxial and polyaxial orthopedic pedicle screws, and cannulated orthopedic pedicle screws), and geography (North America, Europe, Asia, and ROW).
Growing focus on the development of bioengineered orthopedic pedicle screws
The orthopedic pedicle screws market is witnessing the development of bioengineered orthopedic pedicle screws that offer biocompatibility and better stability. These screws are non-toxic and are not physiologically reactive, and hence, do not lead to immunological rejection. The use of orthopedic pedicle screw system is increasing significantly in spine surgery owing to its ability to achieve the rigid spinal fixation. However, the loosening of screws is one of the major complications in posterior spinal instrumentation. As a result, researchers are focusing on developing carbon fiber/polyetheretherketone orthopedic pedicle screws that can mitigate this issue. Therefore, the development of bioengineered orthopedic pedicle screws will fuel the growth of the global orthopedic pedicle screws market during the forecast period.
Monoaxial and polyaxial orthopedic pedicle screws segment will garner the highest share
Monoaxial and polyaxial orthopedic screws was the largest segment of the global market in 2018 and is expected to grow faster than the overall market during the forecast period. These screws are designed to treat a wide range of deformities such as scoliosis, disc degeneration disease, and fractures. These screws are also useful for posterior pelvic fixation in scoliosis surgery and in posterior fractures. Such wide applications of monoaxial and polyaxial screws are propelling their demand in the marketplace.
“Vendors are offering various types of monoaxial and polyaxial orthopedic pedicle screws, which are made up of different types of materials, including stainless steel and Ti alloys. Manufacturers are also focusing on developing different alloys that can provide better stability. Thus, the presence of various established vendors, along with new product launches and development of advanced materials will boost the growth of this segment in the coming years,” says a senior research analyst at Technavio.
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Orthopedic pedicle screws to witness fastest adoption in Asia.
Asia, the third largest geographical segment in the orthopedic pedicle screws market, is expected to grow faster than the overall market during the forecast period. The growth of the orthopedic pedicle screws market in Asia will be driven by factors such as the increasing adoption of MI spine surgeries in emerging and developed countries such as India, Japan, China, and Singapore, the growing presence of hospitals and clinics, and new product launches.
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Some of the key topics covered in the global orthopedic pedicle screws market analysis include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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