The global pedicle screw systems market has witnessed increased interest in the recent years, resulting in steady growth, at a moderate pace. This can be attributed to the increased incidence of lumbar degenerative disc diseases, which has had a positive impact on the growth of the pedicle screw systems market. The study by Future Market Insights on the prospective expansion of the market estimates based on this, that the pedicle screw systems market is likely to grow at approximately 5% globally, during the course of the forecast period.
There is a rising incidence of lumbar degenerative disc diseases, in the treatment of which pedicle screws are used, to which the growth of the global pedicle screw systems market is being attributed.
Reducing the Global Burden of Spinal Cord Injury
The rising incidence of spinal cord injuries and the subsequent use of treatment options has forced governments and regulatory organisations to focus on reducing the global economic burden of spinal cord injuries. This has caused them to increase funding for the development of better spinal implant treatment options that improve patient outcome, which has had a direct positive impact on the growth of the global pedicle screw systems market.
Minimally Invasive Procedures Propel Popularity
The advent of minimally invasive procedures and surgeries has reshaped the healthcare industry as a whole drastically, with consumer preference shifting rapidly from conventional surgeries to minimally invasive. With advantages such as shorter hospital stays and a quicker recovery process, patients are increasingly shifting away from conventional to minimally invasive procedures and surgeries. This is particularly significant in the case of spinal fusion treatment using pedicle screw systems, with the introduction of lateral access spine surgery.
Manufacturers in the global pedicle screw systems market are increasingly looking to improve patient outcomes by focusing on one-level pedicle screw systems. They are also increasingly looking at employing different materials that make them more affordable without deteriorating the outcome for the patient. Some of the newer materials being used include molybdenum rhenium (MoRe), a super-alloy that exhibits greater strength and fatigue, when compared to titanium alloys, which is also more osteoconductive as well.
Regional Markets within the Global Scenario
The global market for pedicle screw systems is being propelled by rapid healthcare advancements that has led to lucrative growth for manufacturers. As the scenario currently stands, North America and Europe are expected to have the most significant shares in the market by the end of the forecast period, due to the rise in production facilities of the manufacturers in the region, coupled with the demand for surgical management options for degenerative scoliosis.
However, the regional market in East Asia is expected to project lucrative opportunities for manufacturers, especially in Japan, which is likely to boost the growth of the pedicle screw system market reaping the first-mover advantage by being technologically advanced. The introduction of robotic systems in the implantation of the pedicle screw system is also expected to contribute to the solidifying of Japan’s position in the global scenario.
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