Pedicle Screw Systems Market is anticipated to grow further up to USD 4.4 billion by 2031

The global Pedicle Screw Systems Market was valued at USD 2.3 billion in 2021 and it is anticipated to grow up to USD 4.4 billion by 2031, at a CAGR of 6.7% during the forecast period.

New York, According to a new market research report published by Global Insight Services “Pedicle Screw Systems Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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A pedicle screw system is a device that is used to fixate the spine. It consists of two main components: pedicle screws and rods. Pedicle screws are inserted into the pedicles of the vertebrae and are secured in place with rods. This system is used to treat a variety of spine conditions, including scoliosis, kyphosis, and spondylolisthesis. It is also used in spinal fusion surgery.

Market Trends and Drivers

The rising number of spinal cord injuries will drive the demand for pedicle screw systems.

Increasing cases of spinal cord injuries are expected to increase market demand. According to the National Spinal Cord Injury Statistical Center at the University of Alabama at Birmingham (UAB), approximately 17,730 new spinal cord injury cases are reported each year in the United States. As a result, the growing number of spinal disease cases have a severe impact on the economy and society, necessitating rapid medical attention.

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Market Restraints and Challenges

The high cost of spine fusion surgery may limit market expansion during the predicted period. The usual cost of spinal fusion, which is commonly used to address issues such as a slipping vertebra, fractured vertebra, or other spinal instability, ranges from USD 80,000 and USD 150,000 or more, depending on the surgeon’s charge. Moreover, the surgeon’s charge varies depending on the type of operation, qualifications, and skill of the individual doing the therapy.

Furthermore, the cost of the surgery is determined by a few aspects, such as the choice between operative and non-operative treatment for adult and geriatric spinal deformity. Such choices are influenced by elements such as the degree and kind of the patient’s symptoms, as well as the size and risk of potential complications.

Major Players in the Global Pedicle Screw Systems Market

The key players in the market Medtronic plc, Aesculap Implant Systems LLC, Alphatec Holdings Inc., DePuy Synthes Inc. ,Evolution Spine LLC, Exactech Inc., Globus Medical Inc.,  Implanet SA, Life Spine Inc. and NuVasive Inc., among others.

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Reasons to buy Pedicle Screw Systems Market Report:

• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

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