Spine Surgery Products Market to Reach US$16.7 Bn by 2025, Globally: Transparency Market Research

ALBANY, New York, January 9, 2018 /PRNewswire/ --

The global Market for Spine Surgery Product was valued at USD 10.2 billion in 2016 and is estimated to reach USD 16.7 billion by 2025 at a CAGR of 5.8% from 2017 to 2025.

Spinal fusion products are used in spinal fusion surgery. The products are involved in removing the damaged disc and replacing it with any fusion products. Non-fusion products are used during spine surgery, which are implanted to treat spine conditions. This also allows the patient to retain its movement and flexibility. The non-fusion products are becoming the treatment of choice, especially for the younger, more active patient. Increase in number of spine surgeries, rise in use of bone grafts and bone morphogenetic proteins in spinal fusion surgery, growing number of spinal surgeries using electrical stimulation devices such as inductive coupling devices, captive coupling devices and other implants drives the market growth rate by 2025.

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The global spine surgery product market is categorized based on product, application, and by end user. Based on product, the markets are further classified into fusion products {cervical fusion, interbody fusion, spinal fixation, minimally invasive surgical (MIS) devices, spine biologics (demineralized bone matrix, synthetic bone graft substitutes)}; non fusion products (motion preservation, spine stimulators, and vertebral compression fracture (VCF) devices). Fusion product was a major product of segment in the spine surgery product market, which is attributed to treatment in cervical and lumbar surgery. Increase in production of regenerative healing products by companies expands its presence in spinal surgery, orthopedic trauma and dental treatments which is likely to boost the segment growth during forecast period. Commercialization of minimal invasive surgery devices in Asia Pacific countries is likely to boost the fusion product segment growth in the near future. Minimally invasive surgery devices is widely used for spine surgeries as the devices are less expensive and factors such as quicker recovery after surgery, less post-operative pain, and smaller incisions makes minimally invasive surgery as an attractive option among patients and is likely to boost the growth rate of the segment by 2025.

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Based on application, the market is segmented into vertebral fracture repair, spinal fusion, and others. Vertebral fracture repair segment is accounted to hold the largest market share in 2016, due to increase in number of spine surgeries, number of incidence of vertebral fractures, spondylitis, motor vehicle collisions, etc. is expected to drive the segment growth. Demand for spinal fusion in emerging markets such as Asia Pacific and Latin America is projected to propel the segment growth rate between 2017 and 2025. The spinal fusion segment is likely to account for second highest share by 2025 due to rise in spinal surgeries for tumors, disc degenerative problems, scoliosis, fractures, etc. According to Journal of Spine, 2017, about 75% of cases of spinal stenosis occur in the low back (lumbar spine). This causes pressure on the spinal cord and nerves; however, increasing adoption of spine biologics products, fixation devices and other use of MIS devices are likely to expand the segment growth rate and market attractiveness from 2017 to 2025. By end user, the market are further segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment dominated the spine surgery product market in 2016, and is expected to continue to dominate the market by 2025.

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Increasing investments of manufacturers on the development of new spine products for spine surgery and demands for physicians for robotic system, are the drivers responsible for the remarkable market growth of the segment. Furthermore, product availability, storage capability, reimbursement of treatment cost, and increase in the number of hospitals are expected to propel the segment during the forecast period.

The major players in the spine surgery product are - Stryker, Medtronic, Zimmer Biomet, Globus Medical, K2M, NuVasive, Aesculap Implant Systems, LLC (B. Braun Company), RTI Surgical, Inc., Alphatec Holdings, Inc., Orthofix International N.V., DePuy Synthes, and others

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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SOURCE Transparency Market Research