Bone Fixation Screw Market Size, Share, Growth, and Industry Analysis, By Type (Cancellous Bone Screw, Cortical Bone Screw, and Other), By Application (Hospital, Clinics, and Others), and Regional Forecast By 2031

Updated On: 29 April 2024

Bone Fixation Screw Market Report Overview

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The global bone fixation screw market size was USD 1.637.9 million in 2022. According to our research, the market is projected to reach USD 3470.22 million by 2031, growing at a CAGR of 8.7% during the forecast period.

The COVID-19 pandemic had an unprecedented impact on the market, with bone fixation screws experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in the market's growth and demand returning to pre-pandemic levels have contributed to the increased CAGR.

Bone fixation screws are medical devices used in orthopedic surgeries to stabilize fractured bones. These screws provide stability and support to the bones during the healing process. They are commonly used in the treatment of fractures, trauma cases, and orthopedic disorders.

The global market is witnessing significant growth due to several factors. Firstly, the increasing prevalence of bone fractures and orthopedic disorders, coupled with a growing aging population, drives the demand for bone fixation solutions. Additionally, advancements in surgical techniques, such as minimally invasive procedures, have led to increased adoption of the product. The rising awareness about the benefits of early fracture fixation and improved patient outcomes also contributes to market growth.

"COVID-19 Impact:  Delayed in Non-Urgent Surgeries to Decline Market Demand"

The COVID-19 pandemic had a significant impact on the bone fixation screw market. The global healthcare systems faced unprecedented challenges as they grappled with the surge in COVID-19 cases. Governments and healthcare authorities implemented stringent measures to contain the spread of the virus, which included imposing restrictions on elective surgeries and reallocating healthcare resources towards COVID-19 management.

These restrictions and reallocation of resources disrupted the supply chains for medical devices, including medical screws. Manufacturers faced challenges in sourcing raw materials, production, and distribution, leading to delays in the availability of these essential orthopedic devices. Furthermore, healthcare facilities were focused on managing COVID-19 patients and ensuring the availability of necessary resources, resulting in the postponement of non-urgent surgeries, including those requiring these medical screws.

As a result, the market experienced a temporary decline in demand during the pandemic. Patients postponed elective surgeries and non-emergency orthopedic procedures due to concerns over virus exposure, limited healthcare resources, and the prioritization of critical care. This decline in demand impacted the revenue and growth prospects of market players operating in this segment.

Latest Trends

"Introduction of Bio-Absorbable Materials to Drive Market Growth"

The Bone Fixation Screw market is witnessing several trends that are shaping its growth. One prominent trend is the advancements in material technologies used in the manufacturing of these screws. The introduction of bio-absorbable materials that can gradually degrade over time and be replaced by natural bone tissue has gained significant attention. This development eliminates the need for a second surgery to remove the screw, reducing patient discomfort and healthcare costs.

Another trend in the market is the focus on product innovations. These innovations aim to enhance the biomechanical performance of the screws, improve surgical outcomes, and reduce the risk of complications. Furthermore, companies are developing specialized screws for specific bone types and anatomical regions, catering to the diverse needs of surgeons and patients.

Bone Fixation Screw Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into cancellous bone screws, cortical bone screws, and others.

• By Application Analysis

Based on application, the market can be divided into hospitals, clinics, and others.

Driving Factors

"Rising in Orthopedic Disorders to Fuel Market Expansion"

The Bone Fixation Screw market is primarily driven by the rising prevalence of bone fractures and orthopedic disorders worldwide. Bone fractures can occur due to various reasons such as sports injuries, accidents, and age-related bone diseases. These fractures often require surgical intervention and the use of medical screws to stabilize and promote proper healing of the fractured bones.

Athletes and sports enthusiasts are prone to fractures, particularly in weight-bearing joints such as the knee, ankle, and wrist. The need for prompt and effective fracture fixation to enable athletes to return to their respective sports drives the demand for these screws.

Accidents, both vehicular and occupational, are another significant factor leading to bone fractures and subsequent demand for bone fixation screws. Road accidents fall from heights, and industrial mishaps can result in severe fractures that require surgical intervention. These screws play a crucial role in stabilizing and aligning fractured bones, enabling proper healing and restoration of functionality.

"Advancements in Early Fracture Fixation to Drive Product Demand"

Advancements in surgical techniques, particularly minimally invasive procedures, have played a significant role in the growth of the market. Minimally invasive techniques offer several advantages, including reduced tissue trauma, faster recovery, and smaller incisions. These techniques require specialized instruments and implants such as medical screws, driving their demand.

Restraining Factors

"Association of High Cost in Orthopedic Surgeries to Bound Market Growth"

One of the major restraining factors for the Bone market is the high cost associated with orthopedic surgeries. The cost includes surgical procedures, implants, post-operative care, and rehabilitation. The affordability of orthopedic interventions, particularly in developing regions with limited healthcare budgets, remains a challenge. However, ongoing efforts to improve healthcare infrastructure and increase insurance coverage are expected to mitigate this restraint to some extent.

Bone Fixation Screw Market Regional Insights

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"North America Leads Due to Favorable Reimbursement Policies"

North America holds the largest part of the bone fixation screw market share. The region's well-established healthcare infrastructure, favorable reimbursement policies, and high awareness regarding advanced orthopedic treatments contribute to its dominance. Moreover, the presence of key market players in North America further drives market growth.

Asia-Pacific is expected to exhibit the fastest growth during the forecast period. Factors such as a large patient pool, increasing healthcare expenditure, and improving healthcare infrastructure drive the demand for medical screws in the region. Additionally, the rising adoption of advanced surgical techniques and increasing disposable incomes contribute to the market's growth.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

"List of Market Players Profiled"

• BioHorizons IPH, Inc. (USA)
• DePuy Synthes (USA)
• Flower Orthopedics Corporation (USA)
• SpineGuard, S.A. (France)
• Orthofix Holdings, Inc. (USA)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.