Pedicle Screw Systems Market - Growth, Trends, and Forecasts (2023 - 2028)

The pedicle screw systems market studied was anticipated to witness a CAGR of 6.5% during the forecast period 2022-2027.

The demand for pedicle screw systems observed a slightly impacted in 2020 due to the emergence of the pandemic situation, leading to delayed or canceled surgeries. According to the study published in the British Journal of Surgery, in May 2020, based on a 12-week period of peak disruption to hospital services due to COVID-19, around 28.4 million surgeries worldwide were estimated to be canceled or postponed. However, as activities are resuming, all the surgeries that were held up are also being performed now, thereby increasing the consumption of the pedicle screw system.

The major factors attributing 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. According to the National Spinal Cord Injury Statistical Center report in 2020, estimated number of people living with Spinal cord injury in the United States is approximately 294,000 persons, with a range from 250,000 to 368,000 persons. Thus increasing prevalence of the spinal cord injury rise in demand for the pedicle screw system thereby boost the market.

However, increasing the key activity by the market players such as product launch merger and acquisition expected to boost the market over the forecast period. For instance, in October 2020, Stryker has surpassed one million Mesa Pedicle Screw implantations worldwide. Stryker will showcase the Mesa Spinal System in a virtual exhibit space at the North American Spine Society (NASS) Annual Meeting to commemorate this milestone. Simialrly in September 2021, The Golden Isles Pedicle Screw System has launched by Intelivation Technologies, a medical device company with an advanced spinal implant product portfolio.

In addition, the global population is found 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 significant increase in the number of spinal disorders. While spinal imaging can be useful to identify fewer common causes of neck and back pain, there has been an increasing number of surgery devices. Thus, the aforementioned factors are likely to fuel the growth of the pedicle screw systems market during the forecast period. However, lack of skilled healthcare professionals to operate the advanced products and highly expensive treatments and lack of proper reimbursement policies may hinder the growth of studied market.

Pedicle Screw Systems Market Trends

Minimal Invasive Surgery Products are Expected to Hold the Major Market Share in the Pedicle Screw Systems Market

The Minimal invasive surgery (MIS) segment is expected to account for a large share over the forecast period. This can be owing to the rising adoption of MIS procedures, coupled with the application of technologically advanced robotic and image-guided (IG) surgeries. Increasing demand for robotic and IG surgeries can be attributed to the clear visualization of intraoperative patient data, safety during critical spinal surgical procedures with tiny incisions, and safeguarding of organs near the operative location.

Many developments are taking place with respect to minimally invasive spine surgery which will boost the market growth. For instance, in July 2020, joimax entered a new partnership with Australian medical device distributor, LifeHealthcare to provide a broader surgical choice for patients considering spinal surgery with minimally invasive endoscopic spine surgery.

Similarly, in October 2021, SeaSpineHoldings Corporation, a global medical technology company focused on surgical solutions for the treatment of spinal disorders, has successful completed the first cases in both the United States and Australia for the 7D Percutaneous Spine Module. 7D Flash Navigation System allows SeaSpine to address the minimally invasive spine surgery market, which SeaSpineestimates at approximately USD 4 billion worldwide. The addition of the 7D Percutaneous Module allows effectively navigate minimally invasive spine surgery procedures with a high level of accuracy and efficiency. Such technological advancements are impacting the growth of the studied segment globally.

However, key market players focusing on the expansion of minimally invasive product portfolio with the pedicle screw system expected to boost the market over the forecast period. For instance, July 2020, CoreLink, LLC, a leading designer and manufacturer of spinal implant systems launched the Tiger MIS X-Tab Pedicle Screw System. This percutaneous solution expands the Tiger platform and is designed for correction of the thoracolumbar spine.

Thus, an increased preference among the surgeons and patients, higher availability in the market with the latest approvals are likely to further drive the segment throughout the forecast period.

North America Dominates the Market and it is Expected to do the Same Over the Forecast Period

North America is expected to dominate the pedicle screw systems market throughout the forecast period. This dominance is mainly owing to the surging demand for with growing prevalence of spinal deformities, accidents, and geriatric population in the region. According to the National Spinal Cord Injury Statistical Center 2020, there are approximately 54 cases of spinal cord injury (SCI) per million people in the United States. In the United States, approximately 17,810 new SCI cases are reported each year. Thus, rising spinal cord injury in the country rises the demand od pedicle screw systems.

Furthermore, various strategies adopted by the key market players such as product launches, mergers, and acquisitions are anticipated to drive the market over the forecast period. For instance, in November 2021, SeaSpine launched SeaSpine's Mariner MIS Wayfinder system pedicle screw system Mariner MIS Wayfinder is compatible with the 7D Flash navigation system.

Moreover, the adoption of MIS procedures with higher awareness and affordability due to disposable income in the United States fuels the market. Additionally, the high cost of the products is likely to contribute to the outstanding share of the region, propelling the global market revenue across the forecast period.

Pedicle Screw Systems Market Competitor Analysis

The pedicle screw systems market is moderately competitive and consists of several major players. Some prominent players that are currently dominating the market in terms of market share are acquiring the products, launching new products to consolidate their market positions across the globe. Some of the companies which are currently dominating the market are Zimmer Biomet, Stryker Corporation, Globus Medical Inc., B. Braun Melsungen AG, and Johnson & Johnson.

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