Global Spinal Surgery Devices Market
Market Introduction: Spinal Surgery Devices Market
Spinal surgery is a procedure to change the patient’s anatomy of spine. It is a procedure helps to relieve chronic pain caused due to herniated disc. Spinal surgeries vary from log recovery & extensive surgeries to minimally invasive quick recovery procedures. Spinal surgeries also performed to treat the deformities and disorders of spine. Deformities, tumours and trauma may cause the spinal damage. There are different kinds of spine surgery are present including foraminotomy, laminectomy, spinal disc replacement, spine fusion and discectomy.
Market Dynamics: Spinal Surgery Devices Market
Global spinal surgery devices market is driven by rising aging population who are more susceptible to spine disorders and growing number of accidents. According to World health organization (WHO), 250,000 to 500,000 people suffer from spinal cord injury. Majority spinal cord injuries are due to preventable causes such as accidents, falls or violence. In addition, rising demand for minimally invasive surgeries advances in spinal surgery devices and sedately lifestyles are expected to boost the global spinal surgery devices market over the forecast period. However, high cost of devices, frequent product recalls are expected to hinder the global spinal surgery devices market during the forecast period. Furthermore, complications of pen spinal surgeries such as infection, extensive bleeding and long hospital stay are hampering the market growth.
Market Segmentation: Spinal Surgery Devices Market
Global Spinal surgery devices market is segmented based on type of product and end user
Based on type of product, spinal surgery devices market is segmented into
- Spine Biologics
- Spinal Decompression
- Vertebral Compression Fracture Treatment Products
- Spinal Bone Stimulators
- Spine Fusion and Fixation
Based on end user, spinal surgery devices market is segmented into
- Ambulatory Surgical Centers
Market overview: Spinal Surgery Devices Market
Global spinal surgery devices market is growing at notable rates owing to rising demand for non-invasive spinal surgery devices. Companies in market place are adopting mergers and acquisitions as key strategies to increase their market share. For instance, in September 2017, NuVasive, Inc acquired Vertera Spine, a medical device company focused on introducing spinal devices. By this acquisition, NuVasive seeks to improve its device technologies and product portfolio. Furthermore, companies are involving in developments of new devices and technologies to strengthen their product portfolio. For instance, In November 2016, DePuy Synthes (Johnson & Johnson Services, Inc) launched a new implant for stand-alone anterior lumbar antibody fusion, Synfix evaluation system.
Region Overview: Spinal Surgery Devices Market
Geographically, global spinal surgery devices market is segmented into following regions, viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America expected to be a major market for global spinal surgery devices owing to rising demand for minimally invasive spinal surgeries, well-established healthcare infrastructure and sedentary lifestyle. Europe is expected to grow at significant rates owing to rising aging population and growth rates of spinal disorders. Asia Pacific spinal surgery devices market is expected to have rapid growth owing to lifestyle changes, rising healthcare expenditure and developing healthcare infrastructure.
Market Participants: Spinal Surgery Devices Market
Some of the players in global spinal surgery devices market are DePuy Synthes spine (Johnson & Johnson Services, Inc) (U.S.), K2M, Inc. (U.S.), Globus Medical, Inc. (U.S.), Zimmer Biomet Holdings Inc. (U.SNuVasive, Inc. (U.S.), Medtronic Plc (U.S.), Stryker Corporation (U.S.), CTL Medical Corporation (U.S.), and Invibio Biomaterial Solutions (U.K.) to name a few.
Key Market Developments: Spinal Surgery Devices Market
- In June 2016, Zimmer Biomet Holdings Inc., acquired LDR Holdings Corp., a developer and marketer of surgical technologies for spine disorders. This acquisition makes Zimmer Biomet leading company in cervical disc replacement and minimally invasive surgery.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2013-2016) and forecast (2017-2024)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market