Escalating Rate Of Spinal Cord Injuries And Disorders Is Driving Spinal Implants & Spinal Devices Market
The
global spinal implants and spinal devices market is
expected to reach over USD 19.54 billion by 2024 according to a new report by
Grand View Research, Inc.
The
key drivers of the market include the rising number of spinal injuries, increasing
trend in the adoption of sedentary lifestyles, postural defects stemming from
bad posture habits at work and while driving, and a large number of people
suffering from obesity. In addition to the above, the introduction of the
image-based spinal navigation technology, the evolution of titanium biologics,
and the ongoing research on the genetically modified bone morphogenetic
proteins are also expected to positively reinforce the market growth.
Moreover,
the increase in the geriatric population base prone to spinal disorders due to
the lack of proper diet and exercise and declining bone density are also
expected to fuel the market expansion over the forecast period.
The
rising cost of spinal implants and procedural costs are a major concern across
the globe and this factor is identified as a large strain on the emerging and
low-income economies. Therefore, the introduction of novel bone growth
stimulators and the increasing adoption of Minimally-Invasive Surgeries (MIS)
surgeries that are relatively less-expensive are expected to propel the usage
of spinal implants and devices over the forecast period.
North America spinal implants and spinal devices market estimates and forecasts, by product, 2013 - 2024 (USD Million) |
With
favorable government initiatives being advanced and the increasing number of
investments being made by various private organizations is providing the thrust
to the R&D activities pertaining to new product development and new
treatment methods.
For
instance, the American Academy of Orthopedic Surgeons and the North American
Spine Foundation, both contribute towards the growth of the spinal implants and
devices market through R&D funding activities and training programs for
physicians globally.
Browse full
research report on Spinal Implants and Spinal Devices Market: www.grandviewresearch.com/industry-analysis/spinal-implants-spinal-devices-market
Further
Key findings from the study suggest:
- In 2015, the spinal fusion devices segment
accounted for the largest share of over 38% as these are the most commonly
used devices for the treatment of various conditions, such as spine
stenosis, spondylolisthesis, and scoliosis. However, the spinal biologics
segment is expected to emerge as the fastest growing with a CAGR of 7% due
to the growing usage of minimally invasive and non-invasive procedures.
- In 2015, North America held the largest share
of the spinal implants and devices market accounting for nearly 63%. The
presence of advanced healthcare facilities, strong reimbursement support,
and a large number of people suffering with spinal disorders are some of
the major factors accounting for this region’s dominance.
- Asia Pacific is expected to be the fastest
growing market due to the proliferation of the latest medical technologies
andthe development of low-cost implants coupled with the growing medical
coverage and the increasing per capita disposable income. Moreover, the
growing support from the government to expand the healthcare services in
the untapped markets is also expected to propel the market growth in this
region.
- Some key players operating in the market are
Medtronic plc, Depuy Synthes, Inc., Stryker Corporation, NuVasive, Inc.,
Zimmer Biomet Holdings, Inc., Globus Medical, Inc., Orthofix International
Holding N.V., and LDR Holding Corporation.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the global spinal implants and spinal
devices market on the basis of product, technology, type of surgery, and type
of procedure:
Global
Spinal Implants and Devices Market Product Outlook, by Revenue (USD Billion,
2016 - 2024)
- Spinal
Fusion devices
- Spinal
biologics
- Vertebral
compression fracture treatment devices
- Non-fusion
devices
- Spinal
bone growth stimulators
Global
Spinal Implants And Devices Market Technology Outlook, By Revenue (USD Billion,
2016 - 2024)
- Fusion
and fixation technology
- Vertebral
compression fracture treatment
- Motion
preservation technologies
Global
Spinal Implants And Devices Market Type Of Surgery Outlook, By Revenue (USD
Billion, 2016 - 2024)
- Open
surgery
- Minimally
invasive surgery
Global
Spinal Implants And Spinal Market Procedure Type Outlook, By Revenue (USD
Billion, 2016 - 2024)
- Discectomy
- Laminotomy
- Foraminotomy
- Facetectomy
- Corpectomy
Spinal
Implants and Spinal Market Regional Outlook, by Revenue (USD Billion, 2016 -
2024)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Mexico
- MEA
- South
Africa
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Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-spinal-implants-spinal-devices-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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