Spinal Implants and Surgical Devices Market by Technology and Product – Forecast 2021
According to research report the global Spinal Implants and Surgical Devices Market is estimated to reach 17.27 Billion by 2021, at a CAGR of 5.3%
(IINews) - Technological advancements in spine surgery devices, and increasing aging and obese population with increasing number of spine deformities, and rising demand for minimally invasive spine surgery procedures are the key factors fueling the growth of the spinal surgery devices market.
Market Size -
According to research report the global Spinal Implants and Surgical Devices Market is estimated to reach 17.27 Billion by 2021, at a CAGR of 5.3%. Asia Pacific regional segment is estimated to grow at fastest CAGR during the forecast period
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Based on the type of product, the spinal implants market is classified into seven segments, namely, thoracic fusion and lumbar fusion devices, cervical fusion devices, spine biologics, vertebral compression fracture treatment devices, non-fusion treatment devices, spinal decompression devices, and spine bone stimulators. The market has also been classified into open surgery and minimally invasive surgery, based on the type of surgery.
On the basis of technology, the global spinal implants market is segmented into three categories, namely, spinal fusion and fixation, vertebral compression fracture treatment, spinal decompression, and motion preservation/non-fusion technologies. The motion preservation/non-fusion segment is expected to grow at the highest CAGR in the next five years, owing to the development of technologically advanced non-fusion devices and rising demand for minimally invasive surgical procedures among patients. The spinal fusion and fixation technology segment has been further divided into two categories, namely, fusion and fixation. The motion preservation/non-fusion technologies segment is further categorized into dynamic stabilization, artificial disc replacement, annulus repair, and disc nucleus replacement.
As of 2016, North America held the largest share of the global spinal implants and surgical devices market, followed by Europe. However, Asia Pacific is estimated to grow at the highest CAGR from 2016 to 2021 owing to the increasing government healthcare expenditure, presence of a large patient population, and growing awareness about newly developed spine treatment techniques.
The key players in the global spinal implants and surgical devices market are Medtronic, plc (Ireland), DePuy Synthes (U.S.), Stryker Corporation (U.S.), NuVasive, Inc. (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Globus Medical, Inc. (U.S.), Alphatec Holdings, Inc. (U.S.), Orthofix International N.V. (Netherlands), K2M Group Holdings, Inc. (U.S.), and RTI Surgical, Inc. (U.S.)
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New product launches and product enhancements was the key growth strategy adopted by a majority of the industry players to increase their share the spinal implants and surgical devices market. Companies such as Medtronic, plc (Ireland), NuVasive, Inc. (U.S.), Globus Medical, Inc. (U.S.), Alphatec Holdings, Inc. (U.S.), Orthofix International N.V. (Netherlands), K2M Group Holdings, Inc. (U.S.), RTI Surgical, Inc. (U.S.) majorly adopted this strategy. Apart from product launches and enhancements, a number of leading players adopted the strategy of partnerships, agreements, and collaborations to strengthen their sales and distribution networks, generate additional product demand, and strengthen their positions in the spinal implants and surgical device market.
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Datum: 14.10.2019 - 13:11 Uhr
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