The Global market for Spinal Surgery Devices has been estimated to be USD 11.86 billion in 2014 and it is expected to reach USD 15.9 billion by 2020 at a CAGR of 5% during the forecast period from 2014 to 2021. Back pain is a symptom of medical condition and the most common cause of back pain is a condition called intervertebral disc degeneration which means that the disc located between the vertebrae of the spine are breaking down with age. Another cause of back pain is wearing down of facet joints which are large joints that connect each vertebrae to another. Back pain is also caused due to spasms, muscle tension and ruptured disc. The spinal surgery devices are used to treat the back pain and other spine related disorders.
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Spine surgery helps to restore functions of the spine of patient with spine disorders such as spine deformities, disc herniation, spondylolisthesis, scoliosis, degenerative discs, trauma, spinal stenosis, and tumors in spine region. The spine surgical devices are mainly used in hospitals and orthopedic clinics.
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An increasing preference for Minimally Invasive Spinal Surgery, large patient pool due to a rapidly growing elderly population, growing demand for technologically advanced products are the factors driving the growth of spine surgical devices market. However, price concerns, unstable reimbursement policies, lack of adequate physician and lack of patient awareness/education about newly developed treatment procedures and technologies are expected to restrain the growth of the market to a certain extent.
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The market for Spinal Surgery Devices is segmented on the basis of technology and products. Technology segment includes Spinal Fusion and fixation, Spinal decompression, Non-Fusion Technologies and Vertebral Compression Fracture Treatment.
Spinal decompression segment covers discectomy, laminotomy/laminectomy, foraminotomy/foraminectomy, facetectomy, and corpectomy procedures. Non-Fusion technologies include Dynamic Stabilization and Artificial Disc Replacement.
The products segment includes Spinal fusion devices, Spine Bone Stimulators, Spine Biologics and Vertebral Compression Fracture Treatment devices. Spinal Fusion devices sub-segment is again divided into Cervical Fusion, Interbody Fusion, Lumbar Fusion, thoracic fusion devices.
Spine Biologics is further categorized into Spinal Allografts, Demineralized Bone Matrix, Bone Morphogenetic Proteins, Bone Substitutes and Machined Bones. Vertebral Compression Fracture Treatment devices further include Vertebroplasty and Balloon Kyphoplasty Devices.
Spine Bone Stimulators can be Invasive Electrical Bone Stimulators and Non-invasive Electrical Stimulators.
Based on geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America contributes a larger share of the market, followed by Europe.
Asian countries are the faster-growing markets, due to the improving reimbursement policies, large population, growing awareness about new technologies and increased acceptance of the latest approaches.
Many players in this market are trying to expand their product portfolio in order to top the global market. While few companies are entering into the market by acquisitions, top companies are expanding their growth in this market by acquiring other companies.
Few companies like Medtronic, PLC adopted product innovation and new product launches as its key business strategy to ensure its dominance in this market. Some of the major key players are Alphatec Spine Inc., DePuy Synthes, Medtronic Inc., Stryker Corporation, NuVasive, Inc., Smith & Nephew Plc, Globus Medical, Inc., Orthovita Inc., Orthofix International N.V., Zimmer Biomet Holdings, Inc.and others.
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Key Deliverables in the Study
Market analysis for the Global Spinal Surgery Devices Market, with region-specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the Global Spinal Surgery Devices Market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Key Questions Answered In This Report
· What will the market size and the growth rate be in 2022?
· What are the key factors driving this report?
· What are the key market trends impacting the growth of this report?
· What are the challenges to market growth?
· Who are the key vendors in this market space?
· What are the market opportunities and threats faced by the vendors in this report?
· Trending factors influencing the market shares of the Americas, APAC, and EMEA?
· What are the key outcomes of the five forces analysis of this report?
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