According to the new market research report “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“, published by MarketsandMarkets™, 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%.
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The increasing incidence of spinal cord injuries, increasing aging population, and technological advancements are major factors driving the growth of the pedicle screw systems market.
Polyaxial pedicle screw systems are expected to account for the largest market share in 2018
On the basis of 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 expected to account for the largest share of the global pedicle screw systems market. The large share of this market segment can be attributed to the increasing prevalence of spinal cord disorders and product launches.
Open surgery is estimated to account for the largest share of the pedicle screw systems market in 2018
By surgery type, the pedicle screw systems market has been segmented into open surgery and minimally invasive surgery. In 2018, the open surgery segment is expected to account for the largest share of the pedicle screw systems market due to the rising geriatric population, increasing incidence of spinal deformities, and technological advancements in spinal fusion surgeries.
The spinal degeneration segment is estimated to grow at the highest CAGR during the forecast period
By indication, the market includes spinal degeneration, spinal trauma, spinal deformities, and other indications. The spinal degeneration segment is estimated to register the highest CAGR during the forecast period. The high prevalence of degenerative spine disorders is expected to result in a growing volume of surgical procedures performed. This will result in the increased adoption of pedicle screws, thereby driving market growth.
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North America is estimated to command the largest share of the market in 2018
Based on region, the pedicle screw systems market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2018, North America is expected to account for the largest share of the global pedicle screw systems market. The increasing incidence of spinal cord injuries, along with rising geriatric population in this region, are supporting the growth of the pedicle screw systems market in North America.
Key players in the pedicle screw systems market include DePuy Synthesis (US), Globus Medical (US), Zimmer Biomet (US), B. Braun (US), Medtronic (Ireland), and Stryker (US).
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