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.
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.
Full Research Report On Spinal Implants And Spinal Devices
Market Analysis:
http://www.grandviewresearch.com/industry-analysis/spinal-implants-spinal-devices-market
http://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.
View More Reports Of This Category By Grand View Research
At: https://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
o U.S.
o Canada
·
Europe
o UK
o Germany
·
Asia Pacific
o Japan
o China
·
Latin America
o Brazil
o Mexico
·
MEA
o South Africa
View Press
Release of this research report by Grand View Research: https://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.
For More Information: www.grandviewresearch.com
For More Information: www.grandviewresearch.com
