Advancements in Orthopedic Technology Drive Growth in the Global Bone Screw System Market by 2022 to 2028
The Bone Screw System Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. Through 2028, the market for bone screw systems is anticipated to develop at a CAGR of 6.4% and reach US$ 1,963.9 Million. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Bone Screw System Market by region.
Bone Screw System Market is valued approximately USD 1.1 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 6.4 % over the forecast period 2021-2027.
Bone screw is a metal implant inserted into the bone. Screws are used to fix fractured bone segments to aid in the healing process, and as an adjunct to spine fusion surgery to help hold implants in place. Growing prevalence of Musculoskeletal Disorders and increasing orthopedic diseases are key drivers for the growth of Bone Screw System market.
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For instance, according to as of 2020- versus arthritis organization, UK-In UK 20.3 million people (almost one third or 32% of the population) have a musculoskeletal (MSK) condition such as arthritis or back pain. Approximately 11.6 million women (35% of women have a MSK condition) and 8.7 million men (28% of men) have a MSK condition.
Also, as per, World Health Organization (WHO) – as of 2021, every year approximately 1.3 million people lost their lives in road crash and between 20 and 50 million more people suffer non-fatal injuries, and many incur a permanent disability because of major injuries. Further, 93% of the world’s fatalities on the roads occur in low- and middle-income countries.
Also, with the rising aging population globally and technological advancements in orthopedic treatment, the adoption & demand for Bone Screw System is likely to increase the market growth during the forecast period. However, negative impact of covid 19 on hospital industry impedes the growth of the market over the forecast period of 2021-2027.
The key regions considered for the global Bone Screw System market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to rising frequency of orthopedic patients and road accidents in the region.
Whereas, Europe is anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027. Factors such as increasing prevalence of orthopedic disease among aging population would create lucrative growth prospects for the Bone Screw System market across Asia-Pacific region.
Major market player included in this report are:
ORTHOFIX INTERNATIONAL N.V
Smith & Nephew
Wright Medical Group N.V
ZIMMER BIOMET HOLDINGS, INC
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Material Type:
- Stainless-Steel Bone Screw System
- Titanium Screw Bone Screw System
- Bio-absorbable Screw Bone Screw System
- Lower Extremity Bone Screw System
- Upper Extremity Bone Screw System
- Spinal Bone Screw System
- Other Bone Screw Systems
- By End Use Industries:
- Bone Screw System for Hospitals
- Bone Screw System for Clinics
- Bone Screw System for Ambulatory Surgical Centers
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- Asia Pacific
- South Korea
- Latin America
- Rest of the World
Table of content:
- Market Snapshot
- Key Trends
- Estimation Methodology
- Research Assumption
- Objective of the Study
- Market Definition & Scope
- Market Drivers
- Market Opportunities
- Porter’s 5 Force Model
- PEST Analysis
- Risk Assessment: COVID-19 Impact
- Competitive Intelligence
- Research Process
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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