The major factors driving the growth of this market are the increasing incidence of spinal cord injuries, the growing preference for minimally invasive surgeries, and a rising geriatric population.
What the Market Looks Like?
The global pedicle screw systems market is expected to reach USD 724.23 million by 2023 from USD 538.64 million in 2018, at a CAGR of 6.1%. The market is dominated by North America, followed by Europe. North America will continue to dominate the market during the forecast period
By product type, the pedicle screw systems market is segmented into monoaxial, polyaxial, and other pedicle screw systems. In 2018, the polyaxial pedicle screw systems segment is estimated to command the largest share of the pedicle screw systems market. The large share of this segment can be attributed to the increasing incidences and prevalence of spinal cord injuries.
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What are Key Trends in the Market?
The growth of the Pedicle Screw System Market is primarily influenced by the following factors:
- Increasing Incidence of Spinal Injuries
- Rising Geriatric Population
- Technological Advancements
- Growing Preference for Minimally Invasive Surgeries
By application, the market is categorized into thoracolumbar fusion and cervical fusion. In 2018, thoracolumbar fusion is expected to command the largest share of this market. The increasing incidences of lumbar degenerative disc diseases and the launch of new products are key factors driving the growth of the thoracolumbar fusion segment.
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