According to a recent market study published by Growth Market Reports (GMR), titled, “Global Orthopedic Screws market by material type, patient anatomy, end-user, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at US$ 1,490.5 Million in 2019 and is expected to grow at a healthy growth rate of 4.8 % by the year 2027. Screws are complex tools with four-part including: head, shaft, thread, and tip. A head of a screw is the top flattened surface of a screw which is mainly used to insert the screwdriver. The shaft is the smooth portion of the between head and thread region. The thread consist of its root diameter, its thread diameter, its pitch, and its lead. The tip of the screw is either round or self-tapping. The primary function of a bone screw is to produce compression in bones which is required to replace a bone injury. A screw converts all the forces that arise out of bone movement into compression. It distributes this compression evenly throughout the surface of injured bones. It is due to this compression that a bone stays in place and heals faster. Screws helps in attaching implants to bones or anchorage or in fixation of soft tissue.
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The global orthopedic screws market is fragmented based on material type, patient anatomy, end-user, and region. In terms of material type, the market is segmented into stainless steel, titanium, and bio-absorbable. On the basis of patient anatomy, the market is segmented into lower extremity, upper extremity, spinal and others. On the basis of end-user, the market is divided into hospitals, clinics, and ambulatory surgical centers. Based on region, the global Orthopedic Screws market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific is further segmented into, India, China, Australia, Japan, South Korea, South East Asia and Rest of Asia Pacific. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into GCC, South Africa, and Rest of MEA.
In year 2020, the Orthopedic Screws market is expected to witness the slight impact of COVID 19 pandemic. Various medical research institute and vaccine manufacturing are trying to find the use orthopedic screws string for the development of COVID-19 vaccine. According, to an investigation by the World Health Organization, Orthopedic Screws can help protect against COVID-19. However, the market is anticipated to witness slight fluctuations in demand and supply for orthopedic screws due to closing of international trades.
As per GMR industry analyst Rajat Verma, “The global orthopedic screws market is anticipated to witness significant growth during forecast period 2021-2027 driven by rising prevalence of pathological conditions and traumatic fractures, rapid urbanization and industrialization has changed the lifestyle in developing nations are boosting the market. Since, growing access to healthcare and rising demand for medical facilities are boosting the demand for orthopedic screws. Moreover, increase in incidences of fractures has led to the adoption of new technologies for prevention from damaged of bones. This factor possesses as an opportunity for this market. Key players in the market are actively focusing on R&D activities to develop orthopedic screws products.”
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Key Takeaways from the Study:
- Europe based Johnson & Johnson Services, Inc., holds approximately 1/6th of market share of global orthopedic screws market in year 2019.
- North America accounts for a major share of the market, followed by Europe. The market in Asia Pacific is projected to expand at significant CAGR during the forecast period.
- In terms of value, the hospitals segment is anticipated to expand at a significant CAGR during the forecast period. Several governments’ bodies globally are willing to incorporate orthopedic screws in public immunization programs given assured quality, safety, and affordability of the vaccine in hospitals. This, in turn, creates awareness among the people about the orthopedic screws, thus boosting segment growth.
- The bioabsorbable segment is anticipated to expand at a substantial CAGR during the forecast period as there is no need to remove them afterwards, as they are absorbed by the body.
|Market Value in 2019||US$ 1,490.5 Million|
|Market Growth Rate (from 2021 to 2027)||4.8 %|
|Historical Data||2017 & 2018|
|Forecast Period||2020 – 2027|
|Units Considered||Value (US$ Million)|
|Market Segments||By Material Type, By Patients Anatomy, By End-user|
|Regional Scope||North America, Europe, Latin America, Asia Pacific, Middle East & Africa (MEA)|
|Country Scope||U.S., Canada, Germany, France, Italy, U.K, Spain, Russia, Rest of Europe, China, Japan, South Korea, India, Australia, South East Asia, Rest of Asia Pacific, Brazil, Mexico, Rest of Latin America, GCC, South Africa, Rest of MEA|
|Key Companies Profiled||Johnson & Johnson Services, Inc., Medtronic, Smith+Nephew, Arthrex Inc., Stryker, Wright Medical Group N.V., Exactech, Inc., Integra LifeSciences Corporation, Paragon 28, Inc., Acumed LLC,TYBER MEDICAL LLC, Advanced Orthopaedic Solutions , Trilliant Surgical, Extremity Medical, Zimmer Biomet|
|Customization Scope||Report customization available on request|
|Pricing and Purchase Options||Avail tailor-made purchase options to meet your research requirements.|
- Supply-side: Orthopedic Screws manufacturers (Pharmaceutical Companies), raw material suppliers, primary respondents, and distributors.
- Demand Side: Hospitals, Clinics, Ambulatory Surgical Centers etc.
- Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
- Associations and Industry Bodies: Centers for Disease Control and Prevention (CDC), National Institute of Allergy and Infectious Diseases (NIAID), Food and Drug Administration (FDA), World Health Organization (WHO), Medicines and Healthcare Products Regulatory Agency (MHRA), Therapeutic Goods Administration (TGA), Central Drug Standard Control Organization (CDSCO), Ministry of Health, Labor and Welfare (MHLW), International Federation of Pharmaceutical Manufacturers & Association (IFPMA), World Trade Organization (WTO), Indian Medical Research Council (ICMR).
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