Wiseguyreports.Com Publish Market Research Report On-“Spine Implants Market 2019 Global Analysis, Size, Share, Trends, Opportunities and Growth, Forecast 2025”
PUNE, INDIA, November 8, 2019 /EINPresswire.com/ —
Spine implants are devices used to treat spine disorders that are common in the older population or occur due to an injury. It's a surgical procedure that is used for various spine disorders caused due to degenerative conditions in spine, deformity, or tumors. The global spine implants market is predicted to be valued at $17.27 billion by 2021, at CAGR of 5.3%. This hike can be attributed to technological advancements in spine surgery and bone grafting products, rising incidence of spinal disorders, and growing demand for minimally invasive surgical procedures.
The following top manufacturers covered in this report
Zimmer Biomet Holdings
K2M Group Holdings
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There is also an increased demand for movement preservation surgeries, especially among the geriatric population, which drives the spine implants market demand. With the introduction of the 'Affordable Care Act,' surgical implants are reimbursed, thus increasing the number of insured patients.
Technological advancements in novel biomaterials, which is compatible with internal body tissue is another factor that leads to spine implants market growth. Interbody devices and interspinous decompression reported a total revenue of 30% in 2016.
The spine implants market can be segmented by technology and product type. Based on product type, spine implant variations include thoracic fusion and lumbar fusion devices, cervical fusion devices, vertebral compression fracture treatment devices, non-fusion treatment devices, spinal decompression devices, and spine bone stimulators. Of these, thoracic fusion and lumbar fusion devices had the most market contribution owing to the growing number of degenerative spinal diseases and demand for minimally invasive spine procedures.
The primary spine implants technology includes spinal fusion and fixation, vertebral compression fracture treatment, and motion preservation/non-fusion technologies. The motion preservation/non-fusion technology has the highest market demand, and this trend is predicted to go up with the development of technologically advanced non-fusion devices.
Geographically, the spine implants market can be divided into North America, Europe, and the Asia Pacific. North America recorded the highest number of spine implant surgeries in 2016. This increased demand is a result of the availability of reimbursement options, higher disposable income, and advanced technologies that allow for minimally invasive surgery and faster recovery. Europe is the second-largest contributor to the overall market share. Prevalence of degenerative disc diseases and rising elderly population are the primary factors contributing to the market demand in these regions.
The Asia Pacific is an emerging market in the use of spine implants and is expected to grow the most in the coming years. China is the highest contributor to the spinal implants and surgical devices market. This demand can be attributed to higher government investments in the healthcare infrastructure. Further, availability of funding, growing patient population, increased disposable income fuel the market demand in China.
Some strategies adopted by market leaders include mergers & acquisitions, partnerships, and advanced technological research to improve their market standing.
For instance, in 2016, Globus Medical, Inc acquired international operations of Alphatec Holdings, Inc. With such an acquisition, Globus Medical got a chance to penetrate the Japan market and establish a strong foothold in the region.
Table of Contents –Analysis of Key Points
Global Spine Implants Sales, Revenue, Market Share and Competition by Manufacturer (2017-2018)
Spine Implants Global Market Analysis by Regions
North America Spine Implants by Country
Europe Spine Implants by Country
Asia-Pacific Spine Implants by Country
South America Spine Implants by Country
Africa and Middle East Spine Implants by Countries
Spine Implants Global Market Segment by Type
Spine Implants Global Market Segment by Application
Spine Implants Market Forecast (2019-2025)
Sales Channel, Distributors, Traders and Dealers
Research Findings and Conclusion
List of Tables and Figures
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Source: EIN Presswire