Global Orthopedic Screws Market Size By Type of Screw, By Material Used, By Application, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Orthopedic Screws Market size was valued at USD 6.4 Billion in 2023 and is projected to reach USD 10.1 Billion by 2030, growing at a CAGR of 5.1% during the forecasted period 2024 to 2030.
Global Orthopedic Screws Market Drivers
The market drivers for the Orthopedic Screws Market can be influenced by various factors. These may include
Growing Older PopulationOrthopedic diseases such fractures and joint abnormalities are more common in the elderly, which raises the need for orthopedic screws and implants.
Growing Prevalence of Orthopedic ConditionsThe market for orthopedic screws is expanding as a result of the rising incidence of orthopedic conditions, which include fractures, osteoarthritis, and sports injuries.
Technological Developments in Orthopedic Surgery ProceduresThe need for specialist orthopedic screws that work with these techniques has grown as a result of improvements in orthopedic surgery, including minimally invasive surgeries.
Sports-related Injuries are on the riseAs more people participate in sports and leisure activities, there is a greater chance of sports-related injuries. This has increased demand for orthopedic screws, which are used to repair fractures and other orthopedic problems.
Growth in Joint Replacement ProceduresThe demand for orthopedic screws used in joint replacement procedures, such as hip and knee replacements, has been influenced by a rise in the number of these operations.
Growing Awareness and Healthcare SpendingA growth in healthcare spending along with a greater understanding of the orthopedic therapies that are accessible has encouraged more people to seek out orthopedic interventions, which has benefited the orthopedic screw market.
Technological Advancements and Product DevelopmentThe orthopedic field’s continuous research and development efforts result in the introduction of novel and inventive orthopedic screw technologies that appeal to patients as well as medical professionals.
Global Economic GrowthThe affordability of cutting-edge orthopaedic procedures can be influenced by regional economic development, which could boost the use of orthopaedic screws.
Development of Healthcare InfrastructureAccess to orthopaedic procedures can be improved with improved healthcare infrastructure, particularly in emerging nations. This will increase demand for orthopaedic screws.
Regulatory SupportBy guaranteeing the effectiveness and safety of orthopedic screw products, supportive regulatory frameworks for medical devices and orthopedic implants can promote market expansion.
Global Orthopedic Screws Market Restraints
Several factors can act as restraints or challenges for the Orthopedic Screws Market. These may include
High Cost of Orthopedic ProceduresThe price tag attached to orthopedic procedures and implants, such as orthopedic screws, can be a major deterrent, preventing certain patients from receiving care and slowing the expansion of the market.
Strict Regulatory Approval ProceduresBefore being approved, orthopedic screws and other medical equipment are subject to stringent regulatory scrutiny. The prompt release of new items onto the market may be hampered by lengthy approval processes or strict regulatory constraints.
Risk of Infections and ComplicationsThere is always a chance of infection and complications with surgical procedures, especially ones utilizing orthopedic screws. Patients’ willingness to undertake specific operations may be impacted by worries about postoperative complications.
Restricted Reimbursement PoliciesIn certain areas, patients’ and healthcare professionals’ access to affordable orthopaedic screws may be hampered by inadequate or restricted reimbursement for orthopaedic treatments.
BiocompatibilityTo reduce the possibility of unfavorable patient reactions, orthopedic screw materials must be biocompatible. Biocompatibility problems can cause problems for product development and commercial adoption.
Options & SubstitutesThe market for orthopedic screws may be impacted by the availability of non-surgical procedures or other implant kinds as alternatives to surgery.
Absence of Skilled Healthcare expertsSkilled healthcare experts are necessary to perform orthopedic operations, including those utilizing screws. The availability of such procedures may be restricted by a lack of orthopedic specialists and experienced surgeons.
Fears Regarding Metal AllergiesCertain patients may be allergic to or sensitive to metals used in orthopedic implants, which presents a risk and may restrict their alternatives.
Economic DownturnsThe market for orthopedic screws can be impacted by economic variables such as recessions or downturns, which can also have an impact on healthcare spending and patient desire to undergo elective orthopedic treatments.
Limited Adoption in Emerging economiesThe adoption of orthopedic screws may be hindered in some emerging economies by a lack of infrastructure, affordability, and awareness of modern orthopedic procedures.
Global Orthopedic Screws Market Segmentation Analysis
The Global Orthopedic Screws Market is Segmented on the basis of Type of Screw, Material Used, Application, and Geography.
Orthopedic Screws Market, By Type of Screw
Cannulated ScrewsThese are hollow screws designed to allow the insertion of a guide wire or other instruments during surgery.
Non-cannulated ScrewsSolid screws without a hollow center, often used in certain orthopedic procedures.
Orthopedic Screws Market, By Material Used
Stainless Steel ScrewsTraditional material known for its strength and corrosion resistance.
Titanium ScrewsLightweight and biocompatible, suitable for patients with metal allergies.
Bioabsorbable ScrewsMade from materials that can be absorbed by the body over time, reducing the need for removal surgeries.
Orthopedic Screws Market, By Application
Trauma and Fracture Fixation ScrewsUsed in the treatment of fractures and traumatic injuries.
Spinal Fusion ScrewsEmployed in spinal surgeries to stabilize and fuse vertebrae.
Joint Reconstruction ScrewsUtilized in joint replacement surgeries, such as hip and knee replacements.
Orthopedic Screws Market, By Geography
North AmericaMarket conditions and demand in the United States, Canada, and Mexico.
EuropeAnalysis of the Orthopedic Screws Market in European countries.
Asia-PacificFocusing on countries like China, India, Japan, South Korea, and others.
Middle East and AfricaExamining market dynamics in the Middle East and African regions.
Latin AmericaCovering market trends and developments in countries across Latin America.
Key Players
The major players in the Orthopedic Screws Market are
Johnson & Johnson (DePuy Synthes)
Medtronic
Stryker
Zimmer Biomet
Smith & Nephew
Nuvasive
B Braun Melsugen AG
Globus Medical Inc.
Aesculap
Arthrex
ConforMIS
Alphatec Spine
CONMED Corp
OsteoMed
Report Scope
REPORT ATTRIBUTES
DETAILS
Study Period
2020-2030
Base Year
2023
Forecast Period
2024-2030
Historical Period
2020-2022
Unit
Value (USD Billion)
Key Companies Profiled
Medtronic, Stryker, Zimmer Biomet, Smith & Nephew, Nuvasive, B Braun Melsugen AG, Globus Medical Inc.
Segments Covered
By Type of Screw, By Material Used, By Application, and By Geography.
Customization scope
Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.
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