In the field of reconstruction surgery, orthopedic doctors now-a-days; prefer usage of orthopedic fixation devices to treat soft-tissues injury, bone fractures and in bone repairing or stabilization. For internal fixation procedures, screws and plates are most widely used as orthopedic implants or mechanical devices among others to fix any kind of body fracture. Owing to the affordability of such innovations, the market for orthopedic plates and screws is expected to improve significantly in the coming years.
Today, accelerating degenerative joint diseases including knee and hip replacement surgeries among all age groups has become a natural phenomenon. This hasbeen drawing attention of orthopedic device manufacturers and key players to grab the immense opportunities of this developing market. In addition, the wide scale usage of customized, flexible and hybrid orthopedic trauma devices is taking the market for orthopedic plates and screws to a new high.
Growing incidence of osteoarthritis among geriatric population, osteoporosis, obesity and diabetes, have become a global concern in the last few years, which are influencing the growth of this market.Injuries pertaining to sports and accidents require better and adaptable non-invasive orthopedic devices and therefore, orthopedic plates and screws are expected to find immense application in such cases.
However, high cost of devices, less awareness about the availability of flexible orthopedic devices and stringent government regulatory issues in developing countries are major challenges in this field.
The global orthopedic plates and screws market has been classified based onproduct types, end-user, anatomical position and by geography. The product segmentincludesupper extremity and lower extremity, with the upper extremity segment capturing the dominant position; while based on end-user, the market has been segmented into hospitals and ambulatory surgery centers (ASCs).
On the other hand, based on anatomical position, the global plates and screws market is segmented into knee, hip, shoulder, spinal and others. The joint segment, including hip and knee is witnessing the largest market share in this segment followed by the trauma -spine segment in the line. This is owing to the increase in the osteoarthritis cases and road accidents.
By geography, the plates and screws market has been divided into five regions namely North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
North America is expected to be the dominating market among all regions; owing to their national problem of obesity, leading to osteoarthritis. Doctors prefer screws and plates in fixation of fractures Though it has reached the maturity level in this orthopedic plateand screws market; yet there is increasing opportunity for larger market share due to newer usage of bio absorbable implants.
Europe is another significant orthopedic plates and screws market;holding the second position; owing to the inclining openings in the technological innovations and research field. Increasing expenditure in the healthcare sector and rise in per capita income along with impeding geriatric dense population is expected to provide huge opportunity to the new market entrants in this APAC orthopedic plates and screws market. In terms of growth rate, Asia Pacific is expected to witness the highest CAGR among all regions.
The vast patient pool from densely populatedcountries such as China and India are suffering with geriatric orthopedic diseases and non-communicable diseases like diabetes, obesity and others.In each orthopedic surgical procedure, the demand for orthopedic plates and screws along with other needful equipment are growing at a faster pace during the forecast period (2017-2025).
The global plates and screws market has been witnessing the emergence of many new regional players, penetrating the current market with better pricing and newer innovations.
Some of the major players in the plates and screws market areDePuy Synthes, Zimmer Biomet, Medtronic, Stryker Corporation, TriMed, Inc., Smith and Nephew, Orthofix International, Integra life sciences, NuVasive and Wright Medical Technology among others.
Global Orthopedic Plates and Screws Market: By Product
Global Orthopedic Plates and Screws Market: By End-User
Global Orthopedic Plates and Screws Market: By Anatomical Position
Global Orthopedic Plates and Screws Market: By Geography