Bone Screw System Market Trends

Growth Drivers

• Increase in musculoskeletal disorders - The increasing incidence of musculoskeletal diseases, especially because of the elderly population, has been driving the growth of the bone screw systems market. This is because bone screws are mainly used as a support structure for fixation, which provides a stability to joints and bones affected by musculoskeletal disorders. According to WHO, there are about 1.71 people worldwide who are suffering from musculoskeletal disorders. This is especially important for elderly people, who may have decreased bone density and a higher risk of fracturing and damage, and need robust support.
• Aging population - The growth in population is highly increasing in several countries, which results in the growing need for the bone screw systems market. This is because with age, the bones become weak and become more susceptible to damaging injuries due to fractures. This creates an increasing demand for bone screw systems to provide support and stability to joints and bones, driving growth in the market.
  
  According to the WHO, the share of people over 60 years would increase to 1.4 billion in 2050 from 1 billion in 2020.
• Growth in the medical industry - As the medical industry has been increasing rapidly in recent years, due to the advancements in healthcare infrastructure and technology, this is driving a shift towards less invasive surgeries and quicker recovery, and this is also required owing to the increase in osteoporosis condition in the growing population. This has increased the use of bone screw systems in the medical sector, fueling market growth.
  
  In addition, the healthcare sector is constantly rising towards health and well-being, as high population is prone to a greater number of orthopedic conditions such as osteoporosis at an early age. According to the CDC, about 13% of females aged 50 to 64 years suffered from osteoporosis in 2017 to 2018.

Challenges

• Limited regulatory approval, for bone screw systems as they are often considered as medical devices because they are subjected to a strict regulatory requirement and approval before they can be used and adopted in hospitals, clinics, and several other medical facilities as well, which involves a lengthy process of evaluation and approval by the higher authorities, which can take time, high costs, and can hinder the adoption and expansion of bone screw systems in the market.
• Availability of alternative treatments, the popularity of alternative treatments is increasing such as bone grafts, biological therapies, fixation devices, and many more is anticipated to act as a restraining factor for the landscape growth in the near future. Additionally, several technological advancements such as robotic-assisted surgical techniques and 3D printing are likely to emerge as significant barriers for the sector during the forecast years.