Orthopedic Screws Market – Future Opportunities Forecast Analysis Report 2020-2027
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.
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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.
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