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(Medical-NewsWire.com, September 15, 2018 ) Global XLIF Surgery Market is expected to reach USD 2,557.74 million by 2024 from USD 1,644.68 million in 2016 at a CAGR of 5.7%. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Segmentation: Global XLIF Surgery Market
Global XLIF Surgery Market By Product Type (XLIF interbody cages, XLIF interbody fusion systems) By End User (hospitals, spinal surgery centers, others)– Industry Trends and Forecast to 2024
Drivers: Global XLIF Surgery Market
The major factors driving the growth of this market are the rising number of minimally invasive procedures, increasing number of spinal disorders and growing number of geriatric population. On the other hand, higher expenses of treatment procedures, increasing research on substitutive treatments and stringent reimbursement policies. These factors increase the demand for XLIF surgery in patient.
RISING NUMBER OF MINIMALLY INVASIVE PROCEDURES
XLIF is the latest and advanced minimally invasive method for the anterior spine which is avoiding the incision that navigates the abdomen also avoiding the cut or disrupts the muscles of the back. XLIF surgery market is growing due to increasing number of the minimally invasive surgery. The various types of spinal disorders comprise of the prolapsed intervertebral disc, spondylolisthesis, and spinal stenosis is increasing globally and treated with spine fusion and non-fusion procedures. According to HCUPnet, surgical treatment of lumbar/ lumbosacral degenerative disc disease has reached up to 105,195 till 2014 with a CAGR of 25.82% for the year 2004-2014 in U.S.
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INCREASING NUMBER OF SPINAL DISORDERS
The XLIF surgery market is growing due to the growing number of the spinal disorders globally. Spinal cord damage is among the most traumatic events that occur in an individual’s life. Spinal cord injury affects friends, family, employers, community and the health care system. The XLIF is used in the wide range of the spinal diseases such as lumbar degenerative disc disease, lumbar disc herniations, lumbar stenosis, spondylolisthesis, scoliosis and deformity. According to National Spinal Cord Injury Statistical Center (NSCSC), Out of the 314 million people in US almost 54.0% of the population is suffering from spinal cord injury (SCI).
GROWING NUMBER OF GERIATRIC POPULATION
Another major factor contributing to the growth of the XLIF surgery market includes increasing number of the elderly population in the country. Furthermore, government support in the form of funding also drives the growth of this market. According to the Population Reference Bureau (PRB) in 2016, in US, the ages 65 and older is estimated to grow double from 46 million to more than 98 million by 2060, and the 65-and-older age group’s contribution in the total population will rise to closely 24.0% from 15.0%. The growing geriatric population leads to more number of spinal diseases as the elderly population gets affected very soon with the disease. For Instance, according to an article of National Center for Biotechnology Information (NCBI), almost 28.0% increase in anterior discectomy and fusion was detected in geriatric patients
Major Players: Global XLIF Surgery Market
Some of the major players operating in this market are:-
• Spine Wave Inc.,
• Tyber Medical LLC.,
• K2M Inc.,
• Johnson & Johnson Services Inc.,
• Titan Spine,
• DIO MEDICAL,
• Osteo Med,
• ZIMMER BIOMET,
• NuVasive Inc.,
• RTI Surgical Inc.,
• K2M,
• Inc. among others.
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Data Bridge Market Research
Data Bridge Market Research
+1-888-387-2818
sopan.gedam@databridgemarketresearch.com
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