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(Medical-NewsWire.com, October 12, 2017 ) According to the report North America Spinal Implants Market, published by Market Data Forecast, the Market size was approximately USD 6.68 billion in 2016. It is estimated to grow at a CAGR of 5.2% to reach USD 8.6 billion by 2021. It captures 50% of the global market share.
Need for most of the surgeries in spinal conditions/disorders is minimal however, there are times when they are unavoidable. In these circumstances, these deformities are corrected using specifically designed spinal instruments which stabilize and strengthen the spine and facilitate fusion. Titanium-alloy or stainless steel are usually used to make spinal implants. Often non-metallic compounds are also utilized for this purpose.
Browse market data tables and in-depth TOC of the North America Spinal Implants Industry to 2021 @ http://www.marketdataforecast.com/market-reports/north-america-spinal-implants-market-3168/
Steadily augmenting obese and geriatric population, rising incidence and prevalence of spinal disorders, technological advancements in spine surgery devices, and rising demand for minimally invasive spine surgery are the factors primarily driving the growth of this market.
Cumbersome regulatory frameworks and stringent processes in developed countries for the approval of product, high cost of treatment procedures and uncertainty in reimbursement are few of the inhibitors of market growth. In addition, paucity of adequate physician education coupled with the lack of patient awareness about the newly developed spine treatment procedures and government cost containment measures are also playing a part in inhibiting the market growth.
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The North America Spinal Implants market can be categorized into three categories: by technology, by product, and by type of surgery. On the basis of technology, Spinal Implants market is classified into Spinal Fusion and Fixation Technologies, Vertebral Compression Fracture Treatment, Motion Preservation/Non-Fusion Technologies and Spinal Decompression. The motion preservation/non-fusion category is estimated to grow at the highest CAGR in the coming years, because of the rising demand for minimally invasive surgical procedures among patients and development of technologically advanced non-fusion devices.
If we go by product, Spinal Implants market is segmented into Thoracic Fusion and Lumbar Fusion Devices. It is further sub-segmented into Posterior Thoracic Fusion and Lumbar Fusion Devices, Interbody Thoracic Fusion and Lumbar Fusion Devices, Cervical Fusion Devices, Spine Biologics, Vcf Treatment Devices, Spinal Decompression, Non-Fusion Devices, and Spine Bone Stimulators. Interbody Thoracic Fusion and Lumbar Fusion Devices has been further segmented into By Approach (Anterior Lumbar Interbody Fusion Devices, Posterior Lumbar Interbody Fusion Devices, Transforaminal Lumbar Interbody Fusion Devices and Axial Lumbar Interbody Fusion Devices), By Material (Non-Bone Interbody Fusion Devices and Bone Interbody Fusion Devices) and Anterior Thoracic Fusion and Lumbar Fusion Devices. Cervical Fusion Devices is further classified into Anterior Cervical Fusion (Anterior Cervical Plates, Cervical Interbody Fusion Devices and Anterior Cervical Screw Systems) and Posterior Cervical Fusion (Posterior Cervical Plates, Posterior Cervical Screws and Posterior Cervical Rods).
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Spine Biologics is further categorized into Demineralized Bone Matrix, Bone Morphogenetic Proteins, Bone Substitutes, Machined Bones, Cell-Based Matrices and Allografts. Vcf Treatment Devices is further segmented into Balloon Kyphoplasty Devices and Vertebroplasty Devices. Spinal Decompression is further divided into Discectomy, Laminoplasty, Laminectomy, and Laminotomy, Foraminotomy and Foraminectomy, Facetectomy and Corpectomy. Non-Fusion Devices are further classified into Dynamic Stabilization Devices (Interspinous Process Spacers, Pedicle-Based Dynamic Rod Devices and Facet Replacement Products), Artificial Discs (Artificial Cervical Discs and Artificial Lumbar Discs), Annulus Repair Devices and Nuclear Disc Prostheses. Spine Bone Stimulators are further segmented into Non-Invasive Spine Bone Stimulators (Pulsed Electromagnetic Field Devices and Cc and Cmf Devices) and Invasive Spine Bone Stimulators. Last but not the least, on the basis of type of surgery the market is segmented into Open Surgeries, and Minimally Invasive Surgeries.
By geography, the North America Spinal Implants market has been categorized into US and Canada. It is largest in terms of market share. US is the leading market in this region. Well-established healthcare infrastructure, high awareness about the newly developed treatment technologies, growing incidences of spinal disorders and rising government funding to support R&D are some of the factors attributable to the above mentioned trend.
Major companies in the Spinal Implants 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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