According to Data Bridge Market Research new Market report, global pedicle screw systems market will account to reach an estimated USD 538.64 million in 2018 growing at a CAGR of 6.5% during the forecast period of 2019 to 2026.
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Pedicle screw systems are medical devices that are used as rigid implants for the stabilization of the spine in thoracolumbar fusion and other spinal surgeries. These screws are used to connect the rods with the vertebrae during the course of spinal treatment. These screws are inserted into the vertebrae which help in stabilizing the spine and increased integration of the rod connected with it.
Global pedicle screw systems market is segmented on the basis of product, surgery, application, indication and geography.
By Product (Polyaxial Pedicle Screw Systems, Monoaxial Pedicle Screw Systems, Other Pedicle Screw Systems), Surgery (Open Surgery, Minimally Invasive Surgery), Application (Thoracolumbar Fusion, Cervical Fusion), Indication (Spinal Degeneration, Spinal Trauma Injuries, Spinal Deformities, Other Indications), Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
FACTORS DRIVING GROWTH IN PEDICLE SCREW SYSTEMS MARKET
Rising Geriatric Population
According to United Nations Department of Economic and Social Affairs/Population Division; in 2017, estimated population of people with age 60 or above was 962 million, which means around 13 per cent of the population. This age bracket or group is growing at a rate of 3 per cent every year. Presently, Europe is leading the other regions in terms of population consisting of this age group. This brisk speed of ageing is expected to carry on in other regions as well, which projects that by the end of 2050 excluding Africa all regions of the world would have more than a quarter share of their total population at an age of 60 years and above. The population of this age group is projected to reach around 1.4 billion in 2030 and 2.1 billion in 2050, and could ultimately rise up to 3.1 billion in 2100.
This rising levels of age of population, is expected to be one of the major factors for the growth of pedicle screw systems globally, as this group of population is prone to suffer from arthritis where the usage of these products are very high.
Few of the major competitors currently working in the pedicle screw systems market are DePuy Synthes, Globus Medical , Zimmer Biomet , B. Braun , Medtronic, Stryker, Orthopeadic Implant Company, Z-medical GmbH. Co. KG, Globus Medical, Inc., Alphatec Spine, Inc., Aesculap Implant Systems, LLC, X-spine Systems, Inc., Auxein Medical, Medtronic, , Zimmer Biomet, Spine, Inc., Orthopeadic Implant Company, LDR Holding Corporation, Z-medical GmbH + Co. KG, X-spine Systems, Inc., Auxein Medical and Alphatec Spine, Inc., Aesculap Implant Systems, LDR Holding Corporation, CTL Medical Corporation, Orthopeadic Implant, Z-medical, X-spine Systems and Globus Medical.
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