Market Definition:
The global Pedicle Screw Systems Market was valued at USD 2.3 billion in 2021 and it is anticipated to grow up to USD 4.4 billion by 2031, at a CAGR of 6.7% during the forecast period.
A pedicle screw system is a device that is used to fixate the spine. It consists of two main components: pedicle screws and rods. Pedicle screws are inserted into the pedicles of the vertebrae and are secured in place with rods. This system is used to treat a variety of spine conditions, including scoliosis, kyphosis, and spondylolisthesis. It is also used in spinal fusion surgery.
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Market Outlook:
The rising number of spinal cord injuries will drive the demand for pedicle screw systems.
Increasing cases of spinal cord injuries are expected to increase market demand. According to the National Spinal Cord Injury Statistical Center at the University of Alabama at Birmingham (UAB), approximately 17,730 new spinal cord injury cases are reported each year in the United States. As a result, the growing number of spinal disease cases have a severe impact on the economy and society, necessitating rapid medical attention.
Market Restraints and Challenges
The high cost of spine fusion surgery may limit market expansion during the predicted period. The usual cost of spinal fusion, which is commonly used to address issues such as a slipping vertebra, fractured vertebra, or other spinal instability, ranges from USD 80,000 and USD 150,000 or more, depending on the surgeon’s charge. Moreover, the surgeon’s charge varies depending on the type of operation, qualifications, and skill of the individual doing the therapy.
Furthermore, the cost of the surgery is determined by a few aspects, such as the choice between operative and non-operative treatment for adult and geriatric spinal deformity. Such choices are influenced by elements such as the degree and kind of the patient’s symptoms, as well as the size and risk of potential complications.
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Research Objectives:
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Segmental Overview
The report analyses the global Pedicle Screw Systems Market based on product type, surgery, indication, application and region.
Major Players
The key players in the market Medtronic plc, Aesculap Implant Systems LLC, Alphatec Holdings Inc., DePuy Synthes Inc. ,Evolution Spine LLC, Exactech Inc., Globus Medical Inc., Implanet SA, Life Spine Inc. and NuVasive Inc., among others.
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Research Scope:
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
• Market Size in 2021 – $2.3bn
• Market Size in 2031 – $4.4bn
• CAGR % – 6.7%
• Historic Period – 2015-2020
• Forecast Period – 2022-2031
• Base Year – 2021
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