An In-Depth Industry Study of the Global Pedicle Screw Systems Market

Posted by vinit sawant on February 10th, 2021

Pedicle screw systems are used in spinal surgery in the lumbar spine for more complex anatomy such as the thoracic and thoracolumbar level. Over the past few years, the pedicle screw system market is growing rapidly due to the rising prevalence of arthritis and the increasing incidence of spinal cord injuries.

Acknowledging the exponential traction, the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global pedicle screw system market will reach USD 506.65 MN by 2023, registering approximately 6.3 % CAGR throughout the forecast period (2018-2023).

Additional factors helping the market to boost further, include the increasing number of geriatric populaces and growing preference of minimally invasive surgeries. Moreover, accident and trauma cases along with hyper-obesity disorders drive the demand for pedicle screw systems, causing severe spinal injuries.

On the other hand, factors such as the high cost associated with pedicle screw systems, delayed processes of product approval and stringent regulatory frameworks are expected to impede the growth of the market during the assessment period.

Global Pedicle Screw Systems Market – Regional Analysis

The North American region, heading with the increasing number of populaces suffering from lumbar spine accounts for the leading market in the global pedicle screw systems. Countries like the U.S. and Canada, backed by substantial technological innovation and advancement in manufacturing processes, play a vital role in the growth of the regional market.