The global orthopedic plates and screws market is expected to experience a 7 percent compound annual growth rate between 2017 and 2021, according to Technavio.
Here are three highlights:
1. The market is expected to see large growth due to the prevalence of degenerative joint diseases. According to the CDC, 78.4 million people are predicted to be diagnosed with arthritis by 2040.
2. Leading competitors in the plates and screws market include DePuy Synthes, Medtronic, Smith & Nephew and Zimmer Biomet. Orthopedic device companies are focusing on advancing titanium material locking and hybrid system plates.
3. The upper extremities and North America segments dominated the market with 57 percent and 40 percent of market share, respectively.