Pune, India, September, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Spinal Implants Market Research Report.
According to Market Research Future's newest report on the global spinal implants, market reveals that the market is anticipated to grow at a CAGR of 5.5% during the forecast period of 2017 to 2023. Used extensively to treat spinal deformities and other common spinal issues that may occur with age, the market is expected with witness moderate and consistent growth over the assessment period.
Age-related wear and tear often result in spinal problems such as spinal stenosis. The presence of a globally growing geriatric population is expected to drive the demand for spinal implants. Urbanization has led to increasingly sedentary lifestyles which aggravate spinal problems, thus resulting in increasing diagnoses of chronic back pain; as such, the demand for spinal implants is expected to grow significantly. Development of advanced technology and spinal implants which combined with the growing demand for minimally invasive spinal surgeries have resulted in cost-effective spinal implants are expected to increase demand for the same.
At present spinal procedures are expensive, and there are stringent regulations surrounding the approval of new spinal devices which is expected to hinder market growth.
The global spinal implants market has been segmented on the basis of product, procedure, material, and region. By product, the market is segmented into vertebral compression fracture (VCF) treatment devices, non-fusion devices/motion preservation devices, spinal fusion devices, spine biologics, spinal bone stimulators, and others. The spine fusion segment is further segment is divided into cervical fixation devices, thoracolumbar devices, interbody fusion devices, and others. Nonfusion devices/ motion preservation devices are further segmented into non-bone interbody fusion devices and bone interbody fusion devices. Vertebral compression fracture (VCF) treatment devices have been sub-segmented into balloon kyphoplasty devices and vertebroplasty devices. spinal bone stimulators are sub-segmented into non-invasive spine bone stimulators and invasive spine bone stimulators. Spine biologics are sub-segmented into spinal allografts, bone graft substitutes, and cell-based matrix. Further sub segmentations are included in the report.
By procedure, the market is segmented into open surgery, minimally invasive surgery, and others.
By material, the market is segmented into titanium alloy, titanium, plastic, stainless steel, and others.
The global spinal implants market is divided into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas dominate the global spinal implants due to the presence of market players who drive technological innovation of the spinal implants market. The region has also made significant contributions to nanotechnology and cell therapy thus cementing its leadership position. Europe accounts for the second largest market due to its increasing geriatric population and the growing demand from this demographic for spinal implants and devices.
Meanwhile, the Asia Pacific is an emerging region due to urbanization and the gradual increase in obesity which has led to increased spinal disorders. Increasing healthcare expenditure, the presence of a large population, increasing government support for advanced healthcare technologies are some vital factors driving the demand for spinal implants. Moreover, increasing awareness with regards to spinal problems and advanced treatments are expected to perpetuate increasing demand for healthcare facilities equal to those in developed economies.
Market players included in MRFRs competitive analysis include Depuy Synthes Inc. (Johnson & Johnson), Medtronic, plc, A-Spine, Stryker Corporation, Alphatec Holdings, Inc., Quandary Medical LLC, Spine Frontier, Apollo Spine, Precision Spine, Premia Spine, K2M Group Holdings, Inc., Exactech Inc., Integra LifeSciences, SI-BONE, Reliance Medical Systems, AESCULAP, Zimmer Biomet Holdings, Inc., Globus Medical, Inc., NuVasive, Inc., Life Spine, Orthofix International N.V., SpineGuard, Spinal Solutions Inc., Spineart Geneva SA, Accel Spine, Captiva Spine Inc., Back 2 Basics Spine, RTI Surgical, Inc., Centinel Spine, NLT Spine, Paradigm Spine LLC, Ascendx Spine, Amedica Corporation, LDR Holding Corporation, Alliance Spine and others
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