Pedicle Screw Systems Market Overview 2024: Size, Growth Drivers, and Major Segments
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What is the Expected Growth Rate of the Pedicle Screw Systems Market for the Period 2024 to 2033?
Recent years have witnessed robust growth of the pedicle screw systems market in terms of size. An increase from $5.4 billion in 2023 to $5.68 billion in 2024 is projected, implicating a compound annual growth rate (CAGR) of 5.1%. Factors such as improvements in surgical procedures, increase in spinal ailments, an aging population, research and development, as well as regulatory approvals and standards contributed to the growth observed during the historical period.
The market size of pedicle screw systems is projected to experience stable expansion in the forthcoming years, reaching a value of $6.8 billion in 2028 with a compound annual growth rate (CAGR) of 4.6%. This predicted progression over the forecast period can be linked to the implementation of value-oriented healthcare models, patient inclination towards a superior quality of life, training programs for surgeons, intense market competition, and product innovation. Notable trends for the forecast period encompass customized implants, navigation along with robotics, biocompatible materials, emphasis on minimally invasive surgery (mis), expandable and adjustable systems, plus wireless implantable monitoring.
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What Factors Are Responsible for the Growth of the pedicle screw systems Market?
The increasing incidence of arthritis could fuel the expansion of the pedicle screw systems market in the future. Arthritis generally refers to any joint pain or joint disease. In patients with cervical disorders, especially rheumatoid arthritis (RA), pedicle screw systems are employed to ensure the precision and safety of cervical pedicle screw placement. For instance, the Centers for Disease Control and Prevention, a US Department of Health & Human Services agency, estimated in October 2021 that by 2040, roughly 78.4 million adults aged 18 years and older (representing about 25.9% of the expected total adult population) will be diagnosed with arthritis, up from 63 million in 2020. Hence, the growth of the pedicle screw systems market is likely to be spurred by the increasing prevalence of arthritis.
Which Segments Are Important for Insight into the Pedicle Screw Systems Market?
1) By Product: Monoaxial Pedicle Screw, Polyaxial Pedicle Screw, Other Products
2) By Surgery Type: Open Surgery, Minimally Invasive Surgery
3) By Indication: Spinal Trauma Injuries, Spinal Deformities, Spinal Degeneration, Other Indications
4) By Application: Hospitals, Clinic, Other Applications
What Are the Significant Trends Reshaping the Pedicle Screw Systems Sector?
The emergence of product innovation is a significant trend in the pedicle screw systems industry. Prominent companies within this sector are concentrating their efforts on the development of cutting-edge products to cement their market position and secure a competitive edge. For example, Intelivation Technologies, a medical equipment manufacturing company based in the US, introduced the Golden Isles Pedicle Screw System. This system is specifically designed to grant immobilization and stabilization to adult spinal segments during lumbar and sacral spine treatment. It is used for non-cervical pedicle fixation at the posterior in patients who have attained skeletal maturity, catering to multiple conditions such as deformities, trauma, degenerative disc disease, pseudoarthrosis, spondylolisthesis, and unsuccessful past fusions.
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Which Regions Are Essential for the Growth of the Pedicle Screw Systems Market?
North America was the largest region in the pedicle screw systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global pedicle screw systems market report during the forecast period. The regions covered in the pedicle screw systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Pedicle Screw Systems Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the pedicle screw systems market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Pedicle Screw Systems Market Include
1. Pedicle Screw Systems Market Executive Summary
2. Pedicle Screw Systems Market Segments
3. Pedicle Screw Systems Market Size And Template Market Growth Rate
4. Key Pedicle Screw Systems Market Trends
5. Major Pedicle Screw Systems Market Drivers
……
25. Key Mergers And Acquisitions In The Pedicle Screw Systems Market
26. Top Pedicle Screw Systems Companies
27. Pedicle Screw Systems Market Opportunities And Strategies
28. Pedicle Screw Systems Market, Conclusions And Recommendations
29. Appendix
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