Bone Screw System Market is Expected to Exceed $1.96 Billion by End of 2028

The bone screw system market is anticipated to record a year-over-year growth rate of 6.5 percent and reach a market value of $1.96 billion in 2028, according to a report from Future Market Insights (FMI). Titanium segment will continue to account for the leading market revenue share by material type, accounting for 45 percent share in 2018 of overall bone screw system market. In this report, the bone screw system is segmented based on material type, patient anatomy, end user and region.
 
Lower extremity segment leads the market for bone screw system owing to high number of cases registered due to prolong effects of osteoporosis in mass population. In contrast, there are limited number of companies conducting research activities for introduce novel product in the market. In terms of revenues, lower extremity segment is expected to account for the largest revenue share of 39.2 percent in 2018, globally and is expected to witness significant growth during the forecast period. This growth in lower extremity segment is expected to be primarily driven by rising awareness in geriatric population and increasing number of orthopaedic cases undergoing surgical interventions.
 
Stainless steel segment seems to be the preferred choice of material used in common practice due to its ready availability and cost efficiency as compared to titanium based screws and bioabsorbable material. Titanium segment holds a major share in the current market due to increasing its usage. Bioabsorbable material segment has limited presence due to premium pricing over other bone screw products. However, this segment is expected to witness fastest growth rate of 8.5 percent during the forecast.
 
Hospital end user segment holds the maximum share in overall bone screw system market due to the large number of surgical procedures performed there using bone screws as compared to other end user such as ambulatory surgical centre and clinics. Hospital end user segment is estimated to have a market share of 65.6 percent in 2018 and there is a steady advances observed in ambulatory surgical centre due to change in operational functions, offers a high growth rate during the forecast.
 
Potential of computer assisted technology adopted in other healthcare practices would be a revolutionary concept to be used in orthopedic treatment procedure. Companies are focusing on collaboration with all end users to develop new effective products with better user interface. They are involving breakthrough options in this market to initiate a sense of revolution in using more advanced alternatives. In 2016. Surgebright in cooperation with the German Institute for Tissue and Cell Replacement (DIZG) in Berlin has developed a latest technology which uses real bone material to form a screw, the patented technology is already being used and just like this better and more transparent approaches are getting introduced in the market. 3D printing is also one such method that could be used in developing bone screws at much compatible and cheaper way in near future.
 
FMI’s report has segmented the global bone screw system market on the basis of region into North America, Europe, Latin America, Asia Pacific excluding China, China, and Middle East & Africa. This report assesses trends driving each market segment and offers analysis and insights about the bone screw system market in specific regions. North America accounts major share in the global bone screw system market and it is expected to grow at a CAGR of 7.1 percent. North America market is expected to be the most lucrative market in the global bone screw system market, with attractiveness index of 2.3 during the forecast period due to the presence of major manufacturers and healthcare reforms. Asia Pacific excluding China follows the market during the forecast period due to high prevalence of causes related to bone screw.
 
The key players in the bone screw system market include the presence of various companies such as Stryker Corp., Zimmer Biomet Holdings Inc., CONMED Corporation, Arthrex, Orthofix, Smith & Nephew plc, Johnson & Johnson (DePuy Synthes), Integra LifeSciences, Wright Medical Group N.V, SURGIVAL INTERNATIONAL, Spineology Inc., GPC Medical Ltd., Osteogenics Biomedical,  Altimed, Jeil Medical Corporation, Fine Science Tools, MEIRA Inc., and Medtronic
 
Future Market Insights (FMI) is a market intelligence and consulting firm that delivers syndicated research reports, custom research reports, and consulting services. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.