The Orthopedic Screws Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Orthopedic Screws Global Market Report 2024, The orthopedic screws market size has grown strongly in recent years. It will grow from $1.19 billion in 2023 to $1.26 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to aging population and orthopedic conditions, sports injuries and trauma cases, increasing awareness and patient demand, prevalence of degenerative bone diseases.
The orthopedic screws market size is expected to see strong growth in the next few years. It will grow to $1.54 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to customization and patient-specific solutions, rise in minimally invasive surgeries, global increase in orthopedic procedures, expansion of sports medicine.. Major trends in the forecast period include regulatory compliance and standardization, global market expansion, collaborations and partnerships, orthopedic tourism, environmentally sustainable practices.
The rising incidence of road accidents is expected to propel the growth of the orthopedic screw market going forward. A road accident refers to an incident on a public roadway involving at least one vehicle, resulting in injury or fatality to at least one individual. The primary indications for orthopedic implant surgeries encompassing screws and plates are accidents or traumatic incidents, such as road accidents and sports-related injuries. For instance, in May 2023, according to the fatality fact sheet published by the Insurance Institute for Highway Safety, a US-based, non-profit educational organization associated with road safety awareness, the number of road accident crashes increased to 39,508 in 2021, engaging 61,332 motor vehicles, compared with 35,935 road accident crashes engaging 54,552 motor vehicles in 2020. Therefore, the rising incidences of road accidents will drive the growth of the orthopedic screw market.
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The orthopedic screws market covered in this report is segmented –
1) By Type: Upper Extremity, Lower Extremity
2) By Material: Stainless Steel, Titanium, Bioabsorbable
3) By Application: Hospitals, Ambulatory Surgical Centers (ASCs), Other Applications
4) By End User: Pediatrics, Adults, Geriatrics
Major companies operating in the orthopedic screw market focus on developing sustainable and innovative products, such as bioresorbable implants, to gain competitive advantages. Bioresorbable implants enhance recovery and reduce the invasiveness of procedures, eliminating the need for implant removal surgeries. For instance, in March 2023, Bioretec Inc., a Finland-based pediatric and adult orthopedic implant manufacturer, received U.S. Food and Drug Administration approval for the RemeOs trauma screw, the first orthopedic screw that involves a bioresorbable metal implant has been substantiated through clinical trials and has previously obtained recognition from the received U.S. Food and Drug Administration, which granted it the breakthrough device designation. These bioresorbable metals combine the surgical techniques of traditional metal implants with the patient-friendly care and benefits of recent bioresorbable polymer implants, rendering implant removal surgeries unnecessary.
The orthopedic screws market report table of contents includes:
1. Executive Summary
2. Orthopedic Screws Market Characteristics
3. Orthopedic Screws Market Trends And Strategies
4. Orthopedic Screws Market – Macro Economic Scenario
5. Global Orthopedic Screws Market Size and Growth
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26. South America Orthopedic Screws Market
27. Brazil Orthopedic Screws Market
28. Middle East Orthopedic Screws Market
29. Africa Orthopedic Screws Market
30. Orthopedic Screws Market Competitive Landscape And Company Profiles
Top Major Players:
- Johnson and Johnson
- Medtronic PLC
- Stryker Corporation
- Solvay S.A
- Zimmer Biomet Holdings Inc
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