Pedicle Screw System Market worth $ 724.23 million by 2023 – Exclusive Report by MarketsandMarkets™

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 global 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%. The base year for this study is 2017 and the forecast period is 2018–2023.

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Pedicle Screw System Market segmented into :

+ By 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 estimated to command the largest share of the pedicle screw systems market. The large share of this segment can be attributed to the increasing incidences and prevalence of spinal cord injuries.

+ On the basis of surgery type, the pedicle screw systems market has been segmented into open surgery and minimally invasive surgery. The open surgery segment is expected to account for the largest share of the pedicle screw systems market in 2018. The large share of this segment can be attributed to the rising geriatric population and increasing incidence of spinal deformities.

+ Based on indication, the pedicle screw systems market has been segmented into spinal degeneration, spinal trauma, spine deformities, and other indications. In 2018, the spinal degeneration segment is projected to account for the largest share of the pedicle screw systems market. The increasing incidence of degenerative spinal disorders is the major driving factor for this market.

+ By application, the market is categorized into thoracolumbar fusion and cervical fusion. In 2018, thoracolumbar fusion is expected to command the largest share of this market. The increasing incidences of lumbar degenerative disc diseases and the launch of new products are key factors driving the growth of the thoracolumbar fusion segment

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What Drives the Market?

1. Increasing Incidence of Spinal Injuries
2. Rising Geriatric Population
3. Technological Advancements
4. Growing Preference for Minimally Invasive Surgeries

Geographical Growth Analysis:

The market is dominated by North America, followed by Europe. North America will continue to dominate the market during the forecast period. The rising geriatric population and increasing incidence of spinal disorders in this region are the major factors supporting the growth of the pedicle screw systems market in North America.

Key Players and Strategies Adopted by Them:

Globus Medical (US), DePuy Synthes (US), Zimmer Biomet (US), B. Braun (US), Stryker (US), and Medtronic (Ireland).

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The objectives of this study are as follows:

• To define, describe, segment, and forecast the pedicle screw systems market by product type, surgery type, indication, application, and region
• To forecast the size of the market with respect to four main regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World
• To provide detailed information about factors influencing the growth of the market (drivers, opportunities, and challenges)
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
• To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
• To profile key players and comprehensively analyze their market shares and core competencies in terms of market developments and growth strategies
• To track and analyze competitive developments such as product approvals, acquisitions, and product launches in the pedicle screw systems market

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