Global Pedicle Screw Systems Market Report 2022 to 2027: Rapid Technological Advancements in MIS Techniques Drives Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Pedicle Screw Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.

The pedicle screw systems market studied was anticipated to witness a CAGR of 6.5% during the forecast period 2022-2027.

Key Market Trends

Minimal Invasive Surgery Products are Expected to Hold the Major Market Share in the Pedicle Screw Systems Market

The Minimal invasive surgery (MIS) segment is expected to account for a large share over the forecast period. This can be owing to the rising adoption of MIS procedures, coupled with the application of technologically advanced robotic and image-guided (IG) surgeries. Increasing demand for robotic and IG surgeries can be attributed to the clear visualization of intraoperative patient data, safety during critical spinal surgical procedures with tiny incisions, and safeguarding of organs near the operative location.

Many developments are taking place with respect to minimally invasive spine surgery which will boost the market growth. For instance, in July 2020, joimax entered a new partnership with Australian medical device distributor, LifeHealthcare to provide a broader surgical choice for patients considering spinal surgery with minimally invasive endoscopic spine surgery.

Similarly, in October 2021, SeaSpineHoldings Corporation, a global medical technology company focused on surgical solutions for the treatment of spinal disorders, has successful completed the first cases in both the United States and Australia for the 7D Percutaneous Spine Module. 7D Flash Navigation System allows SeaSpine to address the minimally invasive spine surgery market, which SeaSpineestimates at approximately USD 4 billion worldwide. The addition of the 7D Percutaneous Module allows effectively navigate minimally invasive spine surgery procedures with a high level of accuracy and efficiency. Such technological advancements are impacting the growth of the studied segment globally.

However, key market players focusing on the expansion of minimally invasive product portfolio with the pedicle screw system expected to boost the market over the forecast period. For instance, July 2020, CoreLink, LLC, a leading designer and manufacturer of spinal implant systems launched the Tiger MIS X-Tab Pedicle Screw System. This percutaneous solution expands the Tiger platform and is designed for correction of the thoracolumbar spine.

Thus, an increased preference among the surgeons and patients, higher availability in the market with the latest approvals are likely to further drive the segment throughout the forecast period.

North America Dominates the Market and it is Expected to do the Same Over the Forecast Period

North America is expected to dominate the pedicle screw systems market throughout the forecast period. This dominance is mainly owing to the surging demand for with growing prevalence of spinal deformities, accidents, and geriatric population in the region. According to the National Spinal Cord Injury Statistical Center 2020, there are approximately 54 cases of spinal cord injury (SCI) per million people in the United States. In the United States, approximately 17,810 new SCI cases are reported each year. Thus, rising spinal cord injury in the country rises the demand od pedicle screw systems.

Furthermore, various strategies adopted by the key market players such as product launches, mergers, and acquisitions are anticipated to drive the market over the forecast period. For instance, in November 2021, SeaSpine launched SeaSpine's Mariner MIS Wayfinder system pedicle screw system Mariner MIS Wayfinder is compatible with the 7D Flash navigation system.

Moreover, the adoption of MIS procedures with higher awareness and affordability due to disposable income in the United States fuels the market. Additionally, the high cost of the products is likely to contribute to the outstanding share of the region, propelling the global market revenue across the forecast period.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Growing Global Prevalence of Spinal Cord Injuries and Orthopedic Disorders

4.2.2 Rapid Technological Advancements in the MIS Techniques

4.3 Market Restraints

4.3.1 Lack of Skilled Healthcare Professionals to Operate the Advanced Products

4.3.2 Highly Expensive Treatments and Lack of Proper Reimbursement Policies

4.4 Porter's Five Forces Analysis

5 MARKET SEGMENTATION (Market Size by Value - USD million)

5.1 Surgery Type

5.2 Product

5.3 Indication

5.4 Geography

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 Zimmer Biomet

6.1.2 Stryker Corporation

6.1.3 Johnson and Johnson

6.1.4 Globus Medical Inc.

6.1.5 B. Braun Melsungen AG

6.1.6 Alphatec Spine Inc.

6.1.7 CTL Amedica Corporation

6.1.8 Auxein Medical Pvt Ltd

6.1.9 LDR Holding Corporation

6.1.10 Medtronic PLC

6.1.11 Alphatec Holding Inc

6.1.12 SeaSpine

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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