As per the industry analysis report titled ‘Pedicle Screw Systems Market Size By Product Type (Monoaxial Pedicle Screw, Polyaxial Pedicle Screw), By Surgery (Open Surgery, Minimally Invasive Surgery), By Indication (Spinal Deformities, Spinal Trauma), Application (Cervical Fusion, Thoracolumbar, Lumber), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, the pedicle screw systems market is slated to garner substantial renumeration over the forecast period of 2021-2027.
 

Industry analysts and researchers are of the opinion that growing inclination towards minimally invasive techniques, and increasing prevalence of accidents, spinal cord injuries, and degenerative diseases are the factors aiding pedicle screw systems market growth. Besides, rapid growth in geriatric population levels is enhancing the market outlook.

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For the unversed, pedicle screws are utilized in spinal fusions to provide extra support and strength as the spinal fusion heals. These screws are inserted over and under the fused vertebrae along with a rod that is attached with the screw to restrict movement and facilitate the healing process.

Despite the positive industry outlook, lack of skilled medical practitioners, hight cost of spinal fusion surgeries, poor reimbursement scenario, and stringent regulatory landscape may inhibit market expansion in the upcoming years.

Moving on to product segmentation, the monoaxial pedicle screw sub-segment is anticipated to record a substantial growth rate and reach a valuation of USD 998.5 million by the forecast period end.

Considering surgery, pedicle screw systems industry from the minimally invasive surgery sub- segment is estimated to record a growth rate surpassing 6.8% through 2027.

Speaking of indication, the spinal trauma sub-segment, which amassed a valuation of USD 548.9 million in 2020, is anticipated to register a solid growth rate through the assessment timeframe.

With respect to application scope, the thoracolumbar sub-division accounted for 26.7% of the overall market share and is expected to witness a considerable growth rate in the upcoming years.

From a regional frame of reference, Latin America market secured a 4.6% of the overall share in 2020 and is expected to continue an upward growth trend in the forthcoming years. Meanwhile, the regional market of Middle East and Africa is estimated to progress at a CAGR of more than 2.1% during the analysis period.

The competitive terrain of pedicle screw systems business sphere is majorly defined by key players such as Zimmer Biomet Holdings N.V., Stryker Corporation, Medtronic PLC, XTANT Medical Holdings, Orthofix Medical Inc., Globus Medical Inc., Dupuy Synthesis Spine Inc., CoreLink Holdings LLC, B Braun Melsugen AG, and ATEC Inc.

These companies are constantly taking efforts to improve their position by undertaking strategies like product launches, mergers, acquisitions and partnerships. For instance, Globus Medical Inc., launched its novel robotic screw dubbed CREO One in April 2021 with a view to enhance navigational accuracy and simplify pedicle preparation in contrast to traditional pedicle screws.