Global Spinal Devices Market

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Global Spinal Devices Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2026, reaching nearly US$ 15.74 Mn.

The global Spinal Devices market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Spinal Devices report also provides trends by market segments, technology, and investment with a competitive landscape.

Global Spinal Devices Market

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Global Spinal Devices Market Overview:

In the case of a spinal cord injury, spinal devices are used to restore body sensations such as movement and feeling. The patient has severe conditions such as ruptured discs, spinal stenosis, or pinched nerves, which are separate from back injuries. The global demand for spinal implants is predicted to expand rapidly as the world's population ages and the prevalence of spinal stenosis rises.

Thoracolumbar and cervical fixation systems, motion preservation devices, interbody devices, spinal electrical stimulation, and vertebral compression fracture (VCF) therapy are some of the most widely used spinal devices.
Global Spinal Devices Market Dynamics:

Drivers:

Product advances, pipeline methodologies, FDA approvals, and the increasing number of spinal surgeries are expected to propel the global spinal devices market. The global demand for spinal devices is projected to be fuelled by technological advancements, a rise in the number of spinal surgeries, population aging, and other factors. According to the National Spinal Cord Injury Association Resource Center, between 250,000 and 400,000 people were dealing with spinal cord injury or dysfunction, with 82 per cent of men and 18 per cent of women.

Motor vehicle collisions (44%) were the leading cause of spinal cord injuries, followed by acts of aggression (24%), sudden falls (22%), athletics (8%), and others (2 per cent). Furthermore, the expanded use of spinal devices in elderly patients and arthritis patients are some of the reasons expected to propel the global spinal device market forward between 2020 and 2026.
Restraints:

Therapeutics and ongoing drug trials to alleviate the pain of surgery, on the other hand, may pose a challenge to the global spinal device market's growth during the forecast period.
Global Spinal Devices Market Segment Analysis:

Based on Device Type, the fusion systems sub-segment was the most lucrative business segment in 2019. Due to beneficial factors such as the rising rate of spinal disorders and the rising number of spinal fusion operations, the sub-segment is expected to retain its supremacy over the forecast era.

Based on Disease Type, the traumas & fractures division dominated the market due to a spike in motor car accidents, abrupt journeys, athletics, and other causes that inflict spinal injury.

Based on Surgery Type, The open surgery sub-segment led the global spinal devices industry in 2019 and is predicted to expand at a 2.2 per cent CAGR over the projected period.

Based on End User, the hospital's end-user sub-segment had the largest market share, in 2019, and it is expected to hold that spot over the forecast period, growing at a 3.2 per cent CAGR. The presence of highly qualified healthcare practitioners, rising demand for well-resourced diagnostic and operating rooms, expanded healthcare insurance coverage and increased healthcare spending are all driving this segment's expansion.

Global Spinal Devices Market
Global Spinal Devices Market Regional Insights:

 

Because of strategic partnerships and innovative product releases, North America is expected to lead the industry. Also contributing to demand growth is the increasing prevalence of spinal diseases. The rise in biologics development, new product releases, and strategic partnerships between prominent organizations are all expected to contribute to the expansion. Several trends are currently augmenting the demand in the Middle East, Africa, and Latin America.

Rising healthcare spending, expanding esteemed players' delivery networks, and technical advances are just a couple of them. Furthermore, increased spinal injury incidences due to injuries, population aging, and improved lifestyles are a few factors that are projected to drive the spinal product market in the APEJ area through 2026.

In contrast, due to the rising prevalence of lower back pain and degenerative disorders in the Asia Pacific, there is currently a strong demand for orthopaedic spine implants. The development will also be supported by an increase in the geriatric population.

According to the National Institute of Neurological Disorders and Stroke (NINDS), low back pain affects nearly 80.0 per cent of adults worldwide, and it is the single leading cause of injury, according to the Global Burden of Disease Report (GBD).

Global Spinal Devices Market

The objective of the report is to present a comprehensive analysis of the global Spinal Devices market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the global Spinal Devices market dynamics, structure by analyzing the market segments and project the global Spinal Devices market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Spinal Devices market make the report investor’s guide.
Global Spinal Devices Market Key Developments:

In September 2020, Hyprevention, a leading implantable medical device manufacturer based in France, has raised new funding to promote the commercialization of its latest V-STRUT vertebral implant, which is intended for use in the treatment of vertebral fractures. The money will be used to expand the product's reach in the US spinal fracture market.

In November 2019, Stryker, an industry leader, announced that its SAHARA Lateral 3D Expandable Interbody System with Lamellar 3D Titanium Technology received 510 (k) clearance from the US Food and Drug Administration (FDA). It's the world's first 3D-printed lateral expandable fusion unit, with passive expansion capabilities that help surgeons achieve nearly 30 degrees of sagittal spinal correction in skeletally mature patients.

In November 2019, Xiphos-ZF, a spinal interbody product made from a new form of a biomaterial called ZFUZE, received FDA 510(k) clearance from Diffusion Technologies, Inc.

In August 2019, Zimmer Biomet Holdings, Inc., an industry pioneer and global leader in musculoskeletal healthcare reported that The TetherTM for scoliosis treatment has been approved by the US Food and Drug Administration (FDA), providing a fusion-free alternative for young patients who need surgery.

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Global Spinal Devices Market Scope: Inquire before buying

Global Spinal Devices Market
Global Spinal Devices Market, by Region

• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• South America
Global Spinal Devices Market Key Players

• Medtronic
• Stryker
• Zimmer Biomet, Inc.
• DePuy Synthes
• NuVasive, Inc.
• Globus Medical
• RTI Surgical Holdings, Inc.
• Aesculap, Inc.
• Alphatec Spine, Inc.
• Vertiflex, Inc.
• Siemens Healthcare GmbH
• Orthpfix Holdings, Inc.
• CONMED
• Aspen Medical Products
• Smith & Nephew
• Other Key Players

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