What is Global Plates and Screws Market?
The Global Plates and Screws Market is a vast and dynamic sector that deals with the production, distribution, and usage of plates and screws on a global scale. These are not your everyday household items, but specialized medical devices used in surgeries to fix broken bones and aid in the healing process. The market encompasses a wide range of products, from small screws used in delicate hand surgeries to large plates used in major orthopedic procedures. The market is driven by various factors such as technological advancements, increasing incidence of orthopedic conditions, and the growing geriatric population. It's a complex and multifaceted industry, with numerous players ranging from multinational corporations to small specialized firms, all competing to provide the best and most innovative products to healthcare providers around the world.
Plates, Screws in the Global Plates and Screws Market:
Plates and screws, in the context of the Global Plates and Screws Market, are specialized medical devices used in orthopedic surgeries. Plates are typically flat, thin pieces of metal that are attached to the bone with screws to hold it in place. They are used to stabilize fractures and allow for proper healing. Screws, on the other hand, are used to secure the plates to the bone. They come in various sizes and lengths, depending on the type and location of the fracture. These devices are made from biocompatible materials, such as stainless steel or titanium, to minimize the risk of infection and adverse reactions. The design and manufacturing of these devices require a high level of precision and quality control, as they play a crucial role in patient recovery.
Upper Extremities, Lower Extremities in the Global Plates and Screws Market:
The Global Plates and Screws Market finds its application in various areas, particularly in treating fractures in the upper and lower extremities. In the upper extremities, plates and screws are commonly used in surgeries involving the arms, wrists, and hands. They are used to treat fractures resulting from trauma, osteoporosis, or other conditions. In the lower extremities, these devices are used in surgeries involving the legs, ankles, and feet. They are particularly useful in complex fractures where other treatment methods may not be effective. The use of plates and screws in these areas allows for more precise alignment of the fractured bones, leading to better outcomes and faster recovery times for patients.
Global Plates and Screws Market Outlook:
Looking at the market outlook, the Global Plates and Screws Market was valued at a substantial US$ 5430 million in 2023. It is projected to grow to an impressive US$ 7071.8 million by 2030, marking a steady Compound Annual Growth Rate (CAGR) of 3.8% during the forecast period from 2024 to 2030. The market is dominated by the top three manufacturers, who collectively hold over 68% of the market share. Geographically, North America leads the market with a share of about 49%, followed closely by Asia-Pacific and Europe, each holding about 42% of the market share. In terms of product segmentation, plates represent the largest segment, accounting for over 83% of the market.
| Report Metric | Details |
| Report Name | Plates and Screws Market |
| Accounted market size in 2023 | US$ 5430 million |
| Forecasted market size in 2030 | US$ 7071.8 million |
| CAGR | 3.8% |
| 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 | J & J, Stryker, Zimmer Biomet, Smith & Nephew, Acumed, Medartis, OsteoMed, Globus Medical, Orthofix, BBraun, MicroPort, aap Implantate |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
