Pedicle Screw Systems Market Trends and Size, Forecast Analysis by 2023

Pedicle screw systems are used in spinal surgery in the lumbar spine for more complex anatomy such as the thoracic and thoracolumbar level. Over the past few years, the pedicle screw system market is growing rapidly due to the rising prevalence of arthritis and increasing incidence of spinal cord injuries. Moreover, the increasing R&D expenditures and aggressive strategies adopted by the top players such as new product launches are escalating the market on the global platform.

Acknowledging the exponential traction, the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global pedicle screw system market will reach USD 506.65 MN by 2023, registering approximately 6.3 % CAGR throughout the forecast period (2018–2023).

Additional factors helping the market to boost further, include the increasing number of geriatric populaces and growing preference of minimally invasive surgeries. Moreover, accident and trauma cases along with hyper-obesity disorders drive the demand for pedicle screw systems, causing severe spinal injuries.

With the vast technological advancements that happened over the last decade, pedicle screw systems have undergone several bettering transformations, and with each innovation and bettering efforts, pedicle screw system market has garnered prominence & value, globally. Simultaneously, the increasing prevalence of conditions and disorders such as arthritis of the spine, scoliosis and other deformities of the spine has fostered the market growth. 

On the other hand, factors such as the high cost associated with pedicle screw systems, delayed processes of product approval and stringent regulatory frameworks are expected to impede the growth of the market during the assessment period.

Global Pedicle Screw Systems Market   - Competitive Analysis

Highly competitive, the pedicle screw systems market appears to be widely expanded and fragmented characterized by several small and large-scale players. To gain a competitive edge and to sustain their position in the market, these players incorporate various strategic initiatives such as partnership, acquisition, collaboration, expansion, and product launch.

The structure of the market is changing due to the acquisition of local manufactures by multinational companies. Because of the increasing competition in the market, multination companies are using the strategy of acquisition, which increases the profit of the company while significantly reducing the competition.

Major Players:

Key players leading the global pedicle screw systems market include Amedica Corporation, Alphatec Spine, Inc., B. Braun Melsungen AG, Globus Medical, Inc., Depuy Synthes, K2M Group Holdings, Inc., Nvision Biomedical Technologies, LLC., Medtronic PLC, Orthofix International N.V., SeaSpine, RTI Surgical, Inc., Stryker Corporation, and Zimmer Biomet Holdings, Inc. among others.

Article source: https://article-realm.com/article/Sports-Recreation/12689-Pedicle-Screw-Systems-Market-Trends-and-Size-Forecast-Analysis-by-2023.html