Bone Screws are used to fix bony fragments. Bone screws are used in orthopedics for various purposes such as bone to bone fixation, soft tissue fixation to bone, and attachment of implants to bone. Bone screw consists of head, shaft, core, and thread. Bone screws are used in cortical bone, cancellous bone, metaphyseal region of bone, distal humerus, trochanteric area, and sometimes in the ankle where the bone is dense. Bio-absorbable screws are automatically absorbed in body and are widely used in anterior cruciate ligament surgery. Biodegradable bone screws offer advantages such as MRI imaging of the bone is possible post-surgery, it has no long term interference with its surrounding tissues, eradication of bone screw removal surgery, reduced risk of metal screw related infections, and less amount of stress in the surrounding tissues.
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Global Bio-absorbable Bone Screw Market Drivers:-
New product launches by key players are expected to drive global bio-absorbable bone screw market growth. For instance, in April 2013, Smith & Nephew Plc., a company which develops, designs and sells medical devices worldwide, launched Biosure HA screws. Biosure HA screws are made up of poly-L-lactic acid with hydroxyapatite (a calcium phosphate similar to mineral compound of human bone). Launch of new products provides a wide range of bio-absorbable products for the orthopedic patients to choose, which is expected to contribute to the global bio-absorbable market growth.
Increasing number of orthopedic patients is expected to boost global bio-absorbable bone screw market growth. According to a study conducted by Indian Orthopedic research group, in 2015, more than 60 million people are orthopedic patients in India, most of them are geriatric population. Increasing number of geriatric population is also expected to fuel global bio-absorbable bone screw market growth. According to survey conducted by Survey of Statistics and Programme Implementation in 2016, more 30 million male and more than 42 million female are part of geriatric population.
Collaboration among market players to distribute their products on a wide scale is expected to fuel global bio-absorbable bone screw market growth. For instance, in 2017, Ortho Pediatrics Corp, a company advancing in field of pediatric orthopedics, collaborated with Biorectec Ltd. to widen distribution channel of Biorectec’s bio-absorbable products. Ortho Pediatrics Corp will market and sell Biorectec’s bio-absorbable products such as screws and other fixation implants under Ortho Pediatrics Corp’s brand TorqLoc. These products are safe for children and would eradiate the fear of further surgeries. Such collaboration is expected all age groups to switch to bio-absorbable implants and screws to minimize risks in future.
However, high cost of bio-absorbable implants and screws, which are not affordable to population of low and middle income economies and slow regeneration rate of new ligament are restraining growth of the global bio-absorbable bone screw market.
Global Bio-absorbable Bone Screw Market Regional Analysis:-
North America is expected to dominate global bio-absorbable bone screw market due to increasing number of orthopedic patients in the region. According to a study conducted by American Academy of Orthopedic Surgery, in 2016, more than 8 million people in U.S. are orthopedic patients. Such increasing number of orthopedic patients are expected to fuel global bio-absorbable bone screw market growth over the forecast period.
Europe bio-absorbable bone screw market is expected to witness significant growth due to launch of new orthopedic products in the market. For instance, in 2017, Smith & Nephew Plc., a company which develops, designs and sells medical devices worldwide, launched Biosure Regenesorb. Biosure Regenesorb is made out of a bio-composite material, which has an open architecture design to allow bone growth. It is used for graft fixation and can be assessed in small areas, which help in graft to bone integration. Graft to bone integration plays an important role in healing process and remodeling. Thus launch of new products which help in faster healing process is expected to fuel growth of global bio-absorbable bone screw market.
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Asia Pacific bio-absorbable bone screw market is expected to witness growth during the forecast period, owing to approval of novel products by regulatory bodies in the region. For instance, in April 2018, Advanced Biomedical Technologies Inc., a manufacturer and developer of orthopedic internal fixation devices announced China FDA approval for new polymer orthopedic internal fixation devices, which include bio-absorbable screws. These devices are made up of PA6-P (MMA-CO-NVP)-HA polymer and is reinforced by fiber. This approval has encouraged the company to manufacture more products using this polymer. This polymer is easily accepted by the body and is biologically stable. Wide range of such products is expected to encourage many orthopedic patients to use bio-absorbable screws instead of metal screws.
Global Bio-absorbable Bone Screw Market Key Players:-
Key players operating in global bio-absorbable bone screw market include Smith &Nephew Plc., Zimmer Biomet, DePuy Synthes Companies, Stryker Corporation, Bioretec Ltd., and Tornier Inc.
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