The North America medical screws and plates market share witnessed significant growth in the past and is expected to grow at a CAGR of 7.97% during the forecast period (2022-2030).
Medical screws and plates are commonly employed medical devices that provide stability to fractures occurring in different anatomical regions, including but not limited to bones, spine, and pubic area. Additionally, they are utilized in the treatment of minor bone fractures. These devices belong to the classification of internal fixation techniques utilized to treat fractures. They encompass various variations, such as cortical screws, cannulated screws, shaft screws, cancellous bone screws, and locking head screws. These products are widely utilized in managing fractures and other orthopedic conditions of bones and joints.
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
Sports injuries, accidents, and falls take an emotional and financial toll on individuals, considering the treatment cost and loss of productivity for those disabled or killed by their injuries. Growing foreign investments in the automotive industries have observed tremendous growth in the automobile industry. It has increased the number of vehicles among the middle-class population. The overall rise in the causes of bone fractures, such as road traffic accidents, falls, and sports injuries, is expected to contribute heavily to the growth of the medical screws and plates market during the assessment period.
Osteoporosis represents a major human and socioeconomic burden worldwide. Osteoporosis constitutes more than 8.9 million fractures annually, resulting in an osteoporosis fracture every 3 seconds. Osteoporosis is estimated to affect 200 million women, suggests statistics from International Osteoporosis Foundation.
Additionally, the Centers for Disease Control and Prevention states that 4.2% of men and 18.8% of women aged 50 years and over were affected by femur neck or lumbar spine osteoporosis. The rising number of osteoporosis patients require bone fixation to manage and repair fractures with medical screws and plates. Thus, demand for these products is expected to fuel the market.
Complications such as infections, consolidation delays, and construct damage arise from undersized or oversized implant selection, inadequate screw fixation, poor plate contouring, malposition of plates and screws, and failed use of cancellous bone grafts at the fracture site. Violations of the principles of plate application are major risk factors of these complications, which are expected to hinder the market growth during the forecast period.
Emerging economies provide immense opportunities for growth to existing and new market players. It is mainly attributed to the rise in incidences and prevalence of osteoporosis, large patient population, increasing healthcare infrastructure, growing geriatric population, and rise in awareness about disease diagnosis and treatment.
Further, market players focus on market product development, innovation, and technological up-gradation. In turn, this is expected to positively impact market growth and drive major demand in the coming future.
The North America medical screws and plates market is segmented by country: The US and Canada. The US dominated the market with a CAGR of 8.18% during the forecast period.
The North America medical screws and plates market is analyzed regionally, considering market size, growth potential, and key players. The United States and Canada are major contributors, driven by a growing aging population, advancements in medical technology, and the increasing prevalence of orthopedic conditions. Key market players focus on product innovation and strategic partnerships to maintain their market position.
The US medical screws and plates market is analyzed on a regional level, considering market size, growth potential, and key players. Regions such as California, Texas, and New York have emerged as significant contributors, driven by advanced healthcare facilities, a large patient population, and increasing orthopedic conditions requiring surgical interventions.
The Canadian medical screws and plates market is analyzed on a regional level, considering market size, growth potential, and key players. Regions like Ontario, Quebec, and British Columbia play significant roles, with a focus on orthopedic surgeries, trauma cases, and the growing aging population driving the market demand.
The North America medical screws and plates market is segmented into material, types, and end-users.
It is further segmented by material into stainless steel, titanium, nitinol, and others.
Stainless steel dominated the market and is expected to register a CAGR of 8.08% over the forecast period. Due to its high biomechanical properties ('E' = 200 20 GPa, ductility, etc.), corrosion resistance, bio inertness, and cost-effectiveness compared to other biocompatible metals, Stainless Steel (e.g., 316L) is one of the most preferred biomaterials for bone plates.
By type, it is further segmented into upper extremity and lower extremity.
Lower extremity dominated the market and is expected to register a CAGR of 7.45% over the forecast period. Plates, screws, and nails are frequently called internal fixation medical apparatus. These are commonly used for fractures because they hold the fractured bone together and provide support and stabilization. As the most common surgical procedure globally, screws and plates account for a substantial revenue share.
It is further segmented into hospitals and clinics, orthopedic clinics, and ambulatory surgical centers based on end-users.
Hospitals and clinics dominated the market and are expected to register a CAGR of 8.08% over the forecast period. A hospital is a center for primary health care, providing specialized treatment services administered by trained medical personnel. In addition, the number of hospitals is increasing worldwide. In hospitals, the presence of advanced apparatus and a secure environment for surgical procedures facilitates the use of products.