5 Major Plates and Screws Companies in the World in 2023

The global market for plates and screws is anticipated to reach USD 7071.8 billion by 2028, expanding with a CAGR of 3.8% from 2022 to 2028. Because of factors including the rising prevalence of orthopedic and spinal injuries worldwide and the increasing number of traffic accidents, the plates and screws market is anticipated to expand over the projected period.

Major companies in the medical plates and screws market have shifted their attention to emerging areas as a result of growing competition in established regions. A global leader in medical technology, Medtronic Plc, has established R&D facilities in developing nations like South Korea to expand its product development skills and presence in the Asia-Pacific region. Market participants also prioritize product development, technological advancement, and innovation. Consequently, this is anticipated to spur market expansion and generate a sizable need for medical screws and plates.

Business Research Insights Presents Top 5 Players in the Plates and Screws Industry Worldwide

1. DePuy Synthes

A Johnson & Johnson subsidiary called DePuy Synthes Inc manufactures medical devices for orthopaedic operations. The headquarters is situated in the U.S. The business is a top designer, producer, and distributor of medical equipment and supplies, with an emphasis on orthopaedic devices. A recent update is that on 9^th June a 2.7mm variable angle locking compression plate was introduced by DePuy Synthes to assist treat collarbone issues more effectively. In order to account for anatomical diversity, this novel approach offers a range of sizes and shapes that mirror the patient's stature and clavicle size.

2. Nuvasive Inc.

A medical device firm called NuVasive Inc. with headquarters in the U.S.provides minimally invasive, procedurally integrated spine treatments. The pioneer of minimally invasive, procedurally integrated spine therapies is NuVasive. With cutting-edge technology created to produce repeatable and scientifically validated surgical outcomes, NuVasive is revolutionizing spine surgery for conditions ranging from complicated spinal deformities to degenerative spinal conditions. A product called C360, introduced recentlyby Nuvasive Inc. would revolutionize the development of spine technology. The plate would be added to the anterior cervical plating (ACP) system and is the thinnest one available.

3. Smith and Nephew PLC

A public limited corporation with its headquarters in the UK and operations in numerous other nations is Smith and Nephew. A leader in the development, production, and marketing of medical devices used in orthopedic reconstruction and trauma, sports medicine, ENT, and advanced wound treatment, Smith & Nephew Plc is a leader in the field of medical technology. In order to develop solutions for the upper extremities, Smith & Nephew PLC announced its acquisition agreement with Integra Life Sciences Corporation. By the end of 2022, Smith and Nephew would benefit from increased market revenue. Additionally, it will support the development and study of innovative upper extremity-related medical screws and plates.

4. DJO Global Inc

A medical device manufacturer based in Lewisville, Texas, DJO creates a range of orthopaedic items for physical therapy, pain management, and rehabilitation. Bracing & Supports, Surgical, Footcare, Healthcare Solutions, Recovery, and Consumer are just a few of the divisions it has. Today, DJO Global is committed to enabling people to live their lives to the fullest by offering intelligent medical devices and services ranging from injury prevention to rehabilitation. Trilliant Surgical was purchased by DJO Global Inc. to develop foot and ankle implants. This will allow DJO Global Inc to grow its new brands that would include the foot reconstruction or fixation technique while also gaining access to cutting-edge technologies and clinical efficacy.

5. Flower Orthopedics

The Ready-for-Surgery therapy concepts for bone fixation are created by Flower Orthopedics to be affordable, efficient, safe, and successful. They created FlowerCube, a comprehensive and standardized approach for bone fixation based on procedures, which includes all the necessary implants and tools for an operation. The flower jones screw system and the 6.5mm headless compression screw system are two more medical screws that Flower Orthopedics has stated are in the pipeline of ready-for-surgery products. It would improve productivity and inventory management while also enabling the use of sterile, surgery-ready instruments.

COVID-19 Accelerated R&D Around Potential Benefits of Plates and Screws

The sort of orthopaedic devices used to support a ligament and a damaged bone are plates and screws. A plate is a type of internal splint that aids in holding shattered bone fragments together and is afterward screwed into the bone. Up until a person is strong enough to move, orthopedic screws and plates support shattered joints and bones. Due to an increase in orthopedic injuries and auto accidents, the market for plates and screws is anticipated to expand dramatically.

The pandemic had an effect on the plate and screw market around the world as anticipated. Increased elective and surgical procedures that were postponed and necessitated large resources had a significant influence on the orthopedic department. Particularly, orthopedic specialties were converted to COVID-19 facilities worldwide, and joint replacement surgeries were discontinued. Fracture-fixing procedures should be performed as outpatient surgery, according to the Orthopaedic Trauma Association. Developing nations like India, China, Brazil, South Korea, and Mexico provide both current and new market participants with excellent prospects for the expansion of the medical screws and plates market.