What is Global Bioabsorbable Bone Fixation Screws Market?
The Global Bioabsorbable Bone Fixation Screws Market is a specialized sector within the medical device industry. These screws are designed to dissolve naturally over time, eliminating the need for a second surgery to remove them. They are used in various orthopedic surgeries to fixate the bone while it heals. The market for these screws is growing due to their advantages over traditional metallic screws, such as reduced stress shielding, no interference with imaging techniques, and the ability to be absorbed by the body. The market is also driven by the increasing prevalence of sports injuries, orthopedic diseases, and the aging population. The global market is expected to grow significantly in the coming years, offering numerous opportunities for manufacturers and distributors.
Lower Extremity, Upper Extremity, Spinal, Other in the Global Bioabsorbable Bone Fixation Screws Market:
The Global Bioabsorbable Bone Fixation Screws Market is segmented based on the type of surgery, including lower extremity, upper extremity, spinal, and others. Lower extremity surgeries involve the legs, hips, knees, and ankles, while upper extremity surgeries involve the arms, shoulders, and wrists. Spinal surgeries are complex procedures that require specialized screws. Other surgeries may involve the pelvis, skull, or chest. Each of these segments has unique requirements and challenges, influencing the design and manufacturing of the screws. The market is also influenced by advancements in surgical techniques and the development of new materials for the screws.
Hospitals, Clinics, Others in the Global Bioabsorbable Bone Fixation Screws Market:
The Global Bioabsorbable Bone Fixation Screws Market is used in various healthcare settings, including hospitals, clinics, and others. Hospitals are the largest users of these screws due to the high volume of surgeries performed. They require a steady supply of screws in various sizes and types to cater to the diverse needs of their patients. Clinics, on the other hand, may specialize in certain types of surgeries and require specific types of screws. Other healthcare settings may include rehabilitation centers, nursing homes, and home healthcare. The market is influenced by the healthcare infrastructure, the availability of skilled surgeons, and the affordability of the screws.
Global Bioabsorbable Bone Fixation Screws Market Outlook:
Looking at the market outlook, the Global Bioabsorbable Bone Fixation Screws Market was valued at US$ 160 million in 2023. It is projected to almost double in value, reaching US$ 344 million by 2030. This represents a compound annual growth rate (CAGR) of 11.5% during the forecast period from 2024 to 2030. This growth is driven by the increasing demand for these screws due to their advantages over traditional screws, the increasing prevalence of conditions requiring orthopedic surgery, and advancements in surgical techniques and materials. The market offers significant opportunities for manufacturers and distributors to expand their product offerings and increase their market share.
| Report Metric | Details |
| Report Name | Bioabsorbable Bone Fixation Screws Market |
| Accounted market size in 2023 | US$ 160 million |
| Forecasted market size in 2030 | US$ 344 million |
| CAGR | 11.5% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Johnson & Johnson, Stryker, Zimmer Biomet, Smith & Nephew, Wright Medical, B Braun, Medtronic, Globus Medical, Orthofix Holdings, NuVasive, MicroPort, BioHorizons IPH |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
