NEW YORK, Aug. 17, 2016 /PRNewswire/ -- The spine devices global market is expected to grow at a CAGR of around XX% from 2015 to 2022. The spine column or vertebral column is made of a series of 33 individual bones that interlock with each other to form the spine column. These vertebrae are divided into 5 regions termed cervical, thoracic, lumbar, sacrum, and coccyx. The spine is an important structure in the body which performs functions such as weight bearing and protection of the spinal cord. Increase in ageing population and lifestyle diseases, awareness of minimally invasive surgeries, the emergence of motion preserving (non-fusion) devices and availability of robotic and customised or patient specific solutions are driving the market growth.
While, high cost for the spine procedures that includes device & technology cost, hospital cost, post operative cost, pharmaceuticals, physician cost and lack of reimbursement negatively influence market expansion. The technological advancements in spine surgery requires surgeons to continuously train and improve skills that involves high costs before becoming a qualified practitioner, resulting in shortage of skilled spine surgeons. These factors are hindering market growth.
The Spine Implants global market is segmented based on the product type into fusion and non-fusion products. Further, based on the type of surgical procedure into open and minimally invasive, based on the type of procedure into discectomy, foraminectomy/ foraminotomy, laminectomy/laminotomy, facetectomy and corpectomy. Based on end-users into hospitals and private clinics and based on different geographical regions.
North America accounts for the highest market share followed by Asia-Pacific. The steep rise in ageing population, increase in minimally invasive surgeries and favourable government policies makes U.S. the leader of the Spine Implants global market. However, Asian countries especially Japan and China's are the fast growing regions with its growing demand for Spine Implants.
Major players in the Spine Implants global market includes DePuy Synthes (U.S.), Medtronic (Ireland), B Braun (Aesculap) (Germany), Alphatec spine(U.S.), Exactech(U.S.), K2M, Inc, LDR Holdings (U.S.), NuVasive (U.S.), Stryker (U.S.), Orthofix International (U.S.) and Zimmer-Biomet (U.S.).
The report provides an in depth market analysis of the above mentioned segments across the following regions:
- North America
- Rest of the World (RoW)
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