An Incisive, In-depth Analysis on the Bone Screw System Market
This study offers a comprehensive, 360 degree analysis on the Bone Screw System market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Bone Screw System market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Bone screws, also known as bone fixation screws, are medical devices that support internal bone fixation during an orthopaedic surgical procedure. Bone screw system are most often used for internal fixation to hold bone fragments together or to affix an implant, e.g. plate, to the bone. The material used for bone screw system production is inert, thus these screws try not to cause any irritation or allergic reactions inside the body. A bone screw system can be used to compress a fracture surface, fix a plate to a bone or it may be used to place and fix an external fixator or internal fixator to a bone. A position bone screw system keeps two fragments together holding in position without compression.
Bone screw system is a highly efficient instrument for the fasciation of a bone fragments by interfragmentary compression, or for fixing a plate, nail, or fixator to the bone. It is traditionally manufactured with preferred two choices of stainless-steel and titanium but technological shifts in healthcare facilities have led to the development of biocomposite materials and more affordable bone screw system. There are ranges of products available in order of their use, e.g., pedicle bone screw system is meant for spinal fusion, compression bone screw system is generally used for foot and ankle procedure or any bone that needs to bear stress. Manufacturing of these bone screw systems are mainly done in bulk in order to avoid cost pressure and are manufactured with different characteristics and designs, which are applicable for different targets.
Market Value and Forecast
The global bone screw system market is estimated to be worth US$ 1,042.9 Mn by 2018 end and is expected to expand at a CAGR of 6.5 % over the forecast period of 2018–2028. North America bone screw system market accounted for a large market share and was valued at US$ 250.2 Mn in 2017, and is expected to expand at a CAGR of 7.1% over the forecast period.
The growth of the global bone screw system market is primarily driven by increasing prevalence of pathological conditions and traumatic fractures, rising geriatric population in need of orthopaedic surgery and awareness programs conducted by public and private associations in different geographical regions. However, manufacturers on the global level for bone screw system production are engaged in developing products to get recognition and to be in use for a large population. Although there is an increase in number of client manufacturers and OEMs producing bone screw system, the bone screw system market is more accessible to new players with fragmented company profiles manufacturing them.
However, the complications associated with bone screw system such as microbial infection, haematoma, non-union and avascular necrosis, have limited the market growth but leaves slight chance of using any alternative. Stringent FDA and other regulations and lack of proper treatment/diagnosis option for cases are some of the factors expected to hamper the growth of the global bone screw system market over the forecast period.
Market Segmentation by Material Types
Based on Material Types, the market has been segmented into:
The titanium material type segment accounted a significant share of around 45.1% in 2017, and is expected to be dominant choice for bone screw system throughout the forecast period, whereas the bioabsorbable material type for bone screw system is expected to register the highest CAGR growth as compared to other segments.
Market Segmentation by Patient Anatomy
Based on Patient Anatomy, the market has been segmented into:
- Lower Extremity
- Upper Extremity
The lower extremity segment accounted a significant share of around 39.5% in 2017 in the global bone screw system market and is expected to be dominant throughout the forecast period, whereas the spinal segment is expected to register a high CAGR growth as compared to other segments for the bone screw system market.
Market Segmentation by End Users
Based on end users, the market has been segmented into:
- Ambulatory Surgical Centre
The hospital end-use segment accounted a significant share of around 66.0% in 2017, and is expected to be dominant throughout the forecast period, registering a stable CAGR as compared to other segments for the bone screw system.
Geographically, the North America bone screw system market is expected to be the dominant regional market by 2018 end and is expected to expand at a CAGR of 7.1% over the forecast period. The Asia-Pacific bone screw system market is expected to be a lucrative market in terms of revenue growth in the global bone screw system, registering a CAGR of 6.6% over the forecast period. MEA bone screw system market is the least attractive market for bone screw systems with a projected CAGR of 5.6% during the forecast.
This Future Market Insights (FMI) report examines the ‘Bone Screw System Market’ for the period 2018–2028. The primary objective of the report is to offer updates and information related to market opportunities in the global bone screw system market.
Increasing role of bone screw system in the research applications and routine procedures for the development of novel approach is expected to drive the growth of the bone screw systems market. However, the increasing number of clinical cases observed is also expected to fuel the market for bone screw system manufacturers to come up with better and well-equipped models. Further, to understand the market correctly, the bone screw system report is categorically split into four sections viz. market analysis by material type, patient anatomy, end users and regions.
The bone screw system market is dependent on various economic factors, industry dynamics, technological advancements and the consumer demand as minor players are involved in the market, which makes it a rather open and diverse market. Ample number of demand and supply drivers are fuelling the bone screw system market. The key providers of the bone screw system market are focusing on acquisitions, mergers, expansion, product launches and adoption of new technologies with better adoption prospect.
The report on the global bone screw system market also features a ‘Competitive Landscape’ to provide report audiences with a dashboard view to help understand key differentiators among the competitor firms. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in different products for the oligonucleotide synthesis market and participants across the value chain. Moreover, this section also includes market strategies and SWOT analysis of the major players in the market.
Global Bone Screw System Market Segmentation
The report analyses the global bone screw system market in terms of value (US$). The report begins with the market definition and overview explaining different market segments. Recent developments and major regional trends in the bone screw system market enable the client to identify the overall market scenario in various regions with the analysis of historical evolution of bone screw systems in the market and possible future growth opportunities. The market dynamics section includes FMI’s analyses on key trends, drivers, restraints, opportunities and macro factors influencing the global bone screw system market. Impact analysis of key growth drivers and restraints based on weighted average model has also been included in the report to better equip clients with crystal clear decision making insights.
The next section of the report analysis is based on the regions and presents the forecast in terms of value for the next 10 years. Regions covered in the report include:
Asia-Pacific excluding China & Japan
Middle East & Africa
The next section of the report analysis is based on material type and presents the forecast in terms of value, for the next 10 years. The bone screw system material types covered in the report include:
The next section of the report analysis is based on the patient anatomy type and presents the forecast in terms of value for the next 10 years. The types covered in the report include:
The next section of the report analysis is based on the end users and presents the forecast in terms of value for the next 10 years. The end users covered in the report include:
Ambulatory Surgical Center
We have taken into consideration the year-on-year growth and incremental $ opportunity to understand the predictability of the market and to identify the right growth opportunities in the global market. Another key feature of this report is the analysis of key segments in terms of market attractiveness index. This is the combination of market share index and CAGR of individual segment and provides the incremental opportunity of particular segment in the overall market. This parameter is very critical for assessing the level of opportunity that a player in the market can look to achieve, as well as to identify potential resources from the sales and delivery perspective of the products. The resulting index helps clients to identify real market opportunities.