(I-BusinessNews.Com, May 07, 2021 ) Bone Screw System Market size is estimated to reach $1042.9 million by 2026, growing at a CAGR of 6.5% over 2021-2026. Bone screw fixation are also called bone fixation screws which are medical devices. Bone Screw System is ideal in internal bone fixation during orthopedic surgical procedure. The Bone Screw System helps to fix a plate to a bone and are used to compress a fracture surface. Various materials are used in bone screw system such as titanium, stainless steel. Cannulated screw system provides joint surgery that helps to repair breaks and to protect from artificial implants and can also inserted over a guidewire or guide pin. Growing prevalence of orthopedic disease and rising advancement in technology are the major factors driving the growth of this market. Furthermore, increasing research and development activities is set to further enhance the overall market demand for Bone Screw System Market for the period 2021-2026.
Bone Screw System Segment Analysis – By Type
The global Bone Screw System Market based on Type can be further segmented into Conventional Screws, Locking Screws, Headless Screws, Cannulated Screws, Threaded Screws, Special Screws, Others. The Cannulated Screws segment is the major segment generating revenue in 2020. This is owing to its small size that allow reinsertion for multiple times. Moreover, cannulated screws consist of hollow central shaft and are basically used in metaphyseal fractures. The Conventional Screw segment is estimated to register the fastest CAGR of 3.8% for the period 2021-2026. This is owing to increasing use in fracture fixation in orthopedic surgery.
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Bone Screw System Segment Analysis – By Application
The global Bone Screw System Market based on Application can be further segmented into Cortical, Cancellous, Malleolus, Others. The Cortical segment registers for the Bone Screw System highest market share in 2020. Cortical bones are dense layered bones that are meant for protecting the internal cavity. The cortical bones are fixed with help of cortex screws that have multiple threads and are smaller in size. The Cancellous segment is estimated to register the fastest CAGR of 2.7% over 2021-2026. This is owing to increasing usage in metaphyseal bone which increases the growth of this segment.
Bone Screw System Segment Analysis – By Geography
North America dominated the Bone Screw System Market with major share of 40% in 2020. This is owing to adoption of advanced technologies and increasing prevalence of age-related orthopedic surgeries. According to the Centers for Medicare & Medicaid Services (CMS), in 2019 one in every seven Americans suffers from orthopedic disorders that increases the demand of bone screw system and are increasing growth of this market.
However, Asia-Pacific is estimated to outpace all the regions by clocking the highest CAGR of 25% during the forecast period 2021-2026 owing to the rising healthcare facilities and improving innovative technologies.
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Bone Screw System Market Drivers
Growing Prevalence of Orthopedic Disease
Increasing prevalence of orthopedic disease and increasing traumatic fractures increases the growth of the Bone Screw System Market. According to the World Health Organization, about 20 million injuries and disabilities occur owing to road accidents that increases the cases of orthopedic surgeries are increasing the growth of the Bone Screw System Market over 2021-2026.
Rising Advancement in Technology
Growing technological advancement and developing innovative procedures is increasing the growth of the Bone Screw System Market. Moreover, technological shifts in healthcare facilities increases the development of biocomposite materials and more affordable bone screw system increasing development of tissue and cell replacement that uses real bone material to form a screw increases the growth of Bone Screw System Market over 2021-2026.
Bone Screw System Market Challenges
Increasing Complications Associated with Bone Screw System
The factors that is set to impede the growth of the Bone Screw System Market are the increasing complication such as microbial infection, haematoma, non-union and avascular necrosis. Moreover, stringent regulation and lack of proper treatment/diagnosis option for cases is set to create hurdles for the Bone Screw System Market.
Covid Impact:
COVID-19 pandemic had greatly affected the Bone screw system market. Owing to quarantines, traveling constraints, and social distancing, hospitals are not allowed to admit patients having injuries in order to maintain social distancing and more beds are used for Covid-19 patients which are negatively impacting the growth of the market.
Bone Screw System Landscape
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Bone Screw System Market. Bone Screw System Forecasting top 10 companies include, Aesculap, Zimmer Biomet, Arthrex, DePuy Synthes, ConforMIS, Alphatec Spine, CONMED Corp, NuVasive, Instratek and OsteoMed.
Acquisitions/Product Launches
In October 2019, Conformis has acquisition with Stryker Corporation in order to increase development in knee arthroplasty that helps to improve development in healthcare.
Key Takeaways
Geographically, in 2020, North America dominated the Bone Screw System Market owing to adoption of advanced technologies and increasing prevalence of age-related orthopedic surgeries.
Growing prevalence of orthopedic disease and rising advancement in technology are likely to aid in the market growth of the Bone Screw System.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Bone Screw System Market report.
Increasing complication associated with bone screw system is set to create hurdles for the Bone Screw System Market.
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