NEWARK, Del, April 22, 2024 (GLOBE NEWSWIRE) — The global bone screw system market is expected to be valued at US$ 1,540.30 million in 2024. The market’s growth is projected to revitalize moderately from 2024 to 2034, with a CAGR of 6.90%, compared to 6.70% in 2023. By 2034, the market value is forecasted to hit US$ 3,001.80 million.
The growing prevalence of orthopedic conditions such as osteoarthritis, rheumatoid arthritis, and osteoporosis is fueling market growth. These conditions affect the bones and joints, leading to pain, stiffness, and reduced mobility. As a result, there is a growing demand for orthopedic procedures that require the use of bone screw systems to stabilize and fixate bone fragments and implants.
The increasing geriatric population is sparking growth in the market. As people age, their bones become weaker and more susceptible to fractures. This has led to a surge in demand for bone screw systems for orthopedic procedures such as hip and knee replacements, spinal fusion, and trauma fixation.
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The growing popularity of sports and physical activities has led to a rise in sports-related injuries. These injuries often require orthopedic procedures that involve the use of bone screw systems to fixate implants to bone. As a result, the demand for bone screw systems in sports medicine has been on the rise, further driving growth in the market.
Advancements in technology have also played a significant role in the increasing demand for bone screw systems. Manufacturers are developing advanced bone screw systems that offer greater stability, durability, and ease of use. For instance, some bone screw systems now use biodegradable materials that are gradually absorbed by the body, reducing the need for additional surgeries to remove the implant. Furthermore, the use of robotics and navigation systems in orthopedic surgeries has led to greater accuracy and precision, resulting in better patient outcomes.
Increasing adoption of minimally invasive surgeries is creating a favorable environment for growth in this market. These procedures involve smaller incisions, resulting in less pain, shorter hospital stays, and faster recovery times. The use of bone screw systems in minimally invasive surgeries is on the rise, further driving growth in the market.
“Intense focus on value-based healthcare is driving the demand for bone screw systems. Healthcare providers are looking for cost-effective solutions that offer high-quality outcomes for patients. As a result, manufacturers are developing bone screw systems that are more affordable and offer better patient outcomes, thereby meeting the needs of healthcare providers and driving growth in the market.” – opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
Key Takeaways from the Bone screw system market:
- The bone screw system market is estimated to register a CAGR of 6.90%, reaching a valuation of US$ 3,001.80 million by 2034.
- The titanium segment is anticipated to dominate the market by material type, holding a 45.00% market in 2024.
- The bone screw system market in the United States is estimated to develop at a CAGR of 7.40% through 2034.
- The bone screw system market in Germany is expected to increase at a 7.30% CAGR through 2034.
- The bone screw system market in Australia is anticipated to develop at a CAGR of 6.90% through 2034.
- The bone screw system market in Japan is projected to inflate at a CAGR of 5.80% through 2034.
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Competitive Landscape:
To enhance their market position and widen their product offerings, companies are concentrating on product development, partnerships, and mergers and acquisitions. Furthermore, they are allocating resources to research and development endeavors to create innovative bone screw systems that deliver improved stability, durability, and ease of use.
Recent Development:
In 2024, the latest spinal screw system from DePuy Synthes is developed. It is aimed at improving patient outcomes by providing increased stability and support during spinal surgeries, thereby reducing the risk of complications. This innovative system incorporates advanced technology that facilitates more precise screw placement in the spine, offering surgeons greater control and accuracy during surgery. Its launch is anticipated to have a momentous impact on the spinal surgery domain, elevating patient care and outcomes for the foreseeable future.
Global Bone Screw System Market Report Scope:
| Attribute | Details | |
| Estimated Market Size (2024) | US$ 1,540.30 million | |
| Projected Market Size (2034) | US$ 3,001.80 million | |
| Anticipated Growth Rate (2024 to 2034) | 6.90% | |
| Forecast Period | 2024 to 2034 | |
| Historical Data Available for | 2019 to 2023 | |
| Market Analysis | US$ million or billion for Value and Units for Volume | |
| Key Regions Covered | North America, Latin America, Europe, Middle East & Africa (MEA), East Asia, South Asia and Oceania | |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa | |
| Key Segments Covered | By Material Type, By Application, By End User | |
| Key Companies Profiled |
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| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives | |
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Key Segments:
By Product Type:
- Cortical Screws
- Cancellous Screws
- Locking Screws
By Material Type:
- Stainless-Steel Bone Screw System
- Titanium Screw Bone Screw System
- Bio-absorbable Screw Bone Screw System
By Patients Anatomy:
- Lower Extremity
- Upper Extremity
- Spinal
By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centres
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
Explore FMI’s related ongoing Coverage in the Healthcare Market Insights Domain:
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Mobile Cardiac Telemetry System Market Forecast: In a recently updated edition, trends infer a valuation of US$ 1,175.10 million for the market in 2024. Looking ahead to 2034, the current forecast projects a CAGR of 8.30%. Current projections of the mobile cardiac telemetry device market imply a valuation of US$ 2,608.30 million by 2034.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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