Market Size of Pedicle Screw Systems Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Pedicle Screw Market Analysis
The pedicle screw systems market is anticipated to witness a CAGR of 6.5% during the forecast period.
The demand for pedicle screw systems was significantly impacted due to the emergence of the pandemic situation, which led to the delay or cancellation of spinal cord surgeries. For instance, according to an article published by PubMed Central in October 2021, a study was conducted in Ireland, which showed that the COVID-19 pandemic significantly decreased the National Spinal Injuries Unit's (NSIU) clinical workload, with national spine referrals reduced by 47% and surgical cases performed were reduced by 61%. However, as the pandemic has currently subsided, spinal cord surgeries are taking place usually and due to this factor, the consumption of the pedicle screw system has increased. Hence, the studied market is expected to have stable growth over the forecast period of the study.
The major factors contributing to the growth of the market are the increased adoption of these devices in treating degenerative spinal disorders. A steep rise in the incidences of sports-related and spinal cord injury (SCI) and accidental fracture cases resulted in surgical procedures, which led to the increasing usage of pedicle screws. For instance, according to the National Spinal Cord Injury Statistical Center report in 2022, the annual incidence of traumatic spinal cord injury (SCI) in 2021 is approximately 54 cases per one million people in the United States, which equals about 18,000 new SCI cases each year. The estimated number of people with SCI living in the United States in 2021 is approximately 299,000 persons, with a range from 253,000 to 378,000 persons. Thus increasing prevalence of spinal cord injury is expected to increase the demand for the pedicle screw system thereby boosting the market growth.
Moreover, increasing the key activities by the market players such as product launches, mergers, and acquisitions are expected to increase the adoption of pedicle screws, hence it is expected to boost the market over the forecast period. For instance, in September 2021, Intelivation Technologies launched the Golden Isles Pedicle Screw System. In addition, the global population is aging rapidly, owing to reduced birth rates and increasing life expectancy. The high prevalence of neck and low back pain in the rapidly aging population is associated with a significant increase in the number of spinal disorders. For instance, according to the data updated by WHO in 2022, an estimated 1.71 billion people have musculoskeletal conditions worldwide, and population growth and aging are major factors that are increasing musculoskeletal disorders. Hence, the rising geriatric population is one of the major factors driving the growth of the market.
Thus, the aforementioned factors such as the rise in the incidences of sports-related and spinal cord injury (SCI) and accidental fracture cases, increasing key activities by the market players such as product launches, mergers, and acquisition, and rising geriatric population are likely to fuel the growth of the pedicle screw systems market during the forecast period. However, the lack of skilled healthcare professionals to operate the advanced products and highly expensive treatments and the lack of proper reimbursement policies may hinder the growth of the studied market.
