The global Orthopedic Screws Market was valued at USD 1,048.7 Million in 2019 and is projected to reach USD 1,490.5 Million by 2027, expanding at a CAGR of 4.8% during the forecast period. Orthopedic implants are used to replace damaged or trouble bones. These implants are made up of stainless steel and titanium alloy. Different Orthopedic implant consist of orthopedic plates, orthopedic nails, and orthopedic screws. Orthopedic screw is a metal implant inserted into the bone. Screws are used to immobilize fractured bone segments to aid in the healing process, and it helps as an adjunct to spine fusion surgery to help hold implants in place.
The market is driven by factors such as rising prevalence of pathological conditions and traumatic fractures has resulted in a surge in the demand for orthopedic screws, rising incidence of road accidents. Conversely, risks associated with bone fixation screw, shortage of skilled medical professional are key restraints of this market. Growing awareness regarding treatment of in emerging countries, increase in the R&D field of medical equipment in emerging markets an opportunity for manufacturer.
On the basis of material type, the Global Orthopedic Screws Market is segmented as stainless steel, titanium, and bio absorbable. The bio absorbable segment is anticipated to expand at a CAGR of around 5.6% during the forecast period as they are used frequently for graft fixation in ACL (anterior cruciate ligament) reconstruction. The titanium segment is estimated to hold around 49.6% share of the market in 2020 as helps in making this material ideal for its use as surgical implants. The use of bio-absorbable fixation in non-syndromic maxillary and mandibular osteotomies indicates that its benefits are realized after the first postoperative year.
Based on patient anatomy, the market is segmented into lower extremity, upper extremity, spinal, and others. The lower extremity segment is projected to hold a major share of the market during the forecast period as most common lower limb fragility fractures are hip and ankle fractures, but also include thigh bone (femoral) fractures, pelvic fractures, fractures of the shin bone (tibia), fractures around the knee, and fractures in the foot. The spinal segment is expected to grow at a substantial pace as there is increase in spinal related disorders in people due to changing lifestyle.
Based on end-users, the market is segmented into hospitals, ambulatory surgical centers, and clinics. Hospitals account for the major share as majority of the people received treatment for the orthopedic diseases from the hospitals, including the ambulatory surgical centers followed by clinics. Patients who choose to have surgery in an ASC arrive on the day of their procedure, have their surgery in a fully equipped operating room and recover under the care of highly skilled nurses, all without hospital admission.
By patient anatomy
Lower extremity is the part of the body from the hip to the toes. It designed with a stepped pitch and taper for lower extremities. The screws draw two fragments together using straightforward instrumentation for drilling and tapping. In lower extremity, orthopedic screws are applied in the foot and ankle include OCDs, fractures, osteotomies, and arthrodesis of the tarsals, metatarsals, and phalanges. Lower extremity includes parts such as hip, thigh, knee, leg, ankle, and foot. In lower extremity, screws are used in the leg, anywhere from the pelvis to the feet, and it usually occurs after a trip or a fall from standing.
Upper extremity is the region in a vertebrate animal extending from the deltoid region. It includes the hand, including the arm, axilla, and shoulder. The upper extremity or arm is a functional unit of the upper body. It consists of three sections: upper arm, forearm, and hand. It extends from the shoulder joint to the fingers and contains 30 bones. A hand or upper extremity fracture occurs when a fracture, commonly known as a break or crack in a bone, occurs in the upper extremity, including fingers, hand, wrist, forearm, elbow, and upper arm.
The spine is also referred to as the vertebral column, spinal column, or backbone. The spine is designed to protect the spinal cord, a column of nerves that connects brain with the rest of body. It helps to control movements. The spine is usually divided into three major sections: the cervical, the thoracic, and the lumbar spine. Sacrum is a bone below the lumbar spine and is part of the pelvis. Each section of the spine is made up of individual bones, called vertebrae.
Orthopedic screws are also used in different parts of surgery. In some mandibular fractures, cracks present in the anterior and angle regions are successfully treated using metal screws. Two or three mini screws are placed in each side of the fracture line. Screw lengths of up to 10 mm are used in mandibular fractures. Short screws are need to treat body and angle fractures to avoid inferior alveolar nerve and damage to the artery. Orthopedic screws are also used to treat the skull. A craniotomy is one of the main types of surgeries used to treat severe head injuries. In craniotomy, small metal screws are used to replace and reattached the skull bone.
In terms of regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is a promising region for the market. The region constituted 1/3th share of the market in 2020. The market in the region is projected to expand at a CAGR of 4.9% during the forecast period as there is increase in prevalence of trauma and pathological conditions is rapidly rising in North America, increasing focus of players in research & development and orthopedic screws therapy development, rise in government initiatives are some of the factors expected to boost the market growth on the region.
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According to this Growth Market Reports report, the market from orthopedic screws is likely to register a CAGR of 4.8% during forecast period 2020-2027, with an anticipated valuation of US$ 1,490.5 million by the end of the 2027.
In addition to market size (in US$ Million) and Company Market Share (in % for base year 2019), other data such as Pricing analysis for year 2017 to 2027 (estimated pricing analysis) is provided, Pricing analysis of product by material (2015 to 2019), Impact of key regulation for orthopedic screws market is available in final report.
Growing prevalence of pathologic conditions and trauma, rapid development of the healthcare industry in developing nations, increasing government initiatives to create awareness about fractures, and increase in R&D expenditure by manufacturers for developing new orthopedic screws is expected to drive the market growth during forecast period.
Hospitals and Ambulatory Surgical Center are the key end-user that are driving the orthopedic screws market.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to witness increment of over 24.5% between 2019 and 2020 owing to the slight impact of COVID-19 pandemic on the Orthopedic Screws Market. The ongoing research of orthopedic screws for COVID-19 string is expected to grow the production orthopedic screws product.
The base year considered for the global Orthopedic Screws Market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2021 to 2027.
Major Manufactures include, Johnson & Johnson Services, Inc., Medtronic, Smith+Nephew.
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