Pune, India -- (SBWIRE) -- 05/16/2019 -- Orthopedic Plates and Screws Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of orthopedic plates and screws market by applications (shoulder replacement, wrist replacement, elbow replacement, and Foot and Ankle Surgeries), end-user (hospitals and ambulatory surgery centers (ASCS) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the orthopedic plates and screws market it includes the five years industry analysis and the 6 years annual forecast from 2018 to 2024. According to a report, the global orthopedic plates and screws market is projected to grow at a CAGR of 6.9% over the forecast period of 2018-2024

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Orthopedic Plates and Screws Market: Insight

Orthopedic plates and screws have been used to fix the bone fragments since the middle of the nineteenth century. During a surgical procedure to set fractures the special implants such as plates, screws, nails, and wires are used to hold the normal alignment of fragmented bones. Bone plates are used as internal splints to hold both ends of fractured bones. They are attached to the bone with screws. The screws are more often used for internal fixation other than any type of implants. The types of plates and screws used in the fixation are depending upon the type of fracture. The orthopedic plates transmit the forces from one end of the bone to the other end and protect the area of the fracture. On the other hand, screws convert rotations into the linear motion that further provide the compression, protection, and tension to the fractured bone. So, the orthopedic plates and screws are most majorly used as implants in the orthopedic surgeries.

Orthopedic Plates and Screws Market: Drivers and Restraints

The degenerative joint disease is the most common chronic condition of the joints, affecting the people between the ages of 20 to 40. According to the WHO, the prevalence of degenerative joint diseases varies between 0.3% and 1% and is more common in women and in developed countries. The growing prevalence of degenerative joint diseases is the key factor driving the growth of orthopedic plates and screws market. In addition, the rising aging population is likely to escalate the growth of the orthopedic plates and screws market. The growing demand for minor orthopedic implants across the globe contributes to the growth of orthopedic plates and screws market. On the other hand, lack of awareness about the availability of orthopedic trauma devices is hampering the growth of the orthopedic plates and screws market.

Moreover, the leading players are focusing on the development, innovations and technological up gradation to improve their profit margins. In addition, the use of lithium in the manufacturing of plate and screw and growing use of hybrid plates in the surgeries are expected to create several opportunities for the orthopedic plates and screws market over the forecast period.

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Orthopedic Plates and Screws Market: Regional Analysis

Geographically, North America dominated the orthopedic plates and screw market in 2017 and is expected to dominate the same throughout the forecast period owing to the high prevalence of arthritis surgeries. In addition, the presence of a leading manufacturer of orthopedic plates and screws in North America is contributing to the growth of orthopedic plates and screws market. Furthermore, Asia Pacific holds a significant market share in the orthopedic screws and plates market. The growing healthcare infrastructure and technological developments are the factors likely to escalate the growth of orthopedic plates and screws market.

Orthopedic Plates and Screws Market: Segmentation

The report on global orthopedic plates and screws market covers segments such as applications and end-user. On the basis of applications, the global orthopedic plates and screws market is categorized into shoulder replacement, wrist replacement, elbow replacement, and Foot and Ankle Surgeries. On the basis of end-user, the global orthopedic plates and screws market is categorized into hospitals and ambulatory surgery centers (ASCs).

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Orthopedic Plates and Screws Market: Competitive Landscape

The report provides profiles of the companies in the global orthopedic plates and screws market such as, Zimmer Biomet, DePuy Synthes, Wright Tornier, Smith & Nephew, Stryker, Exactech, Integra and Medtronic.

Report Findings

1. Drivers

- Growing Prevalence of Degenerative Joint Diseases.

- Rising Aging Population.

- Increasing Demand for Minor Orthopedic Implants Across the Globe.

2. Restraints

- Lack of Awareness about the Availability of Orthopedic Trauma Devices.

3. Opportunities

- Growing Use of Hybrid Plates.

- Technological Up-Gradation to Create Lucrative Opportunities.