New York City, NY, 28 February, 2020/ 24 Market Reports: It is estimated for the spinal implants and surgical devices market to reach USD 13.5 billion by 2025 from that of USD 10.7 billion in 2019, witnessing the growth at a CAGR of 5.2% during the forecast period of 2019 to 2025. The advancements in spine surgery technologies, increasing incidence of spinal disorders, the launch of advanced bone grafting products and the increasing adoption of minimally invasive spine surgeries are the factors that are driving the growth of the market during the forecast period. The growth of the market is slowed by factors such as the high cost of spinal surgery and uncertainties surrounding reimbursement during the forecast period.
Thoracic fusion and lumbar fusion devices, by product, to lead the market during the forecast period
Thoracic fusion and lumbar fusion devices, cervical fusion devices, spine biologics, non-fusion devices, vertebral compression fracture treatment devices, spinal decompression devices, and spine bone stimulators are the segmentation for the global spinal implants and surgical devices market based on product. During the forecast period, it is estimated for the thoracic fusion and lumbar fusion devices market to hold the largest share in the market. The increasing incidence of the lumbar degenerative disc disease and the growing number of product launches are the factors that are driving the growth of the market during the forecast period.
Spinal fusion and fixation technologies segment to account for the highest share in the market
Spinal fusion and fixation, vertebral compression fracture treatment, motion preservation/non-fusion, and spinal decompression technologies are the segmentation for the market based on technology. The spinal fusion and fixation technologies segment is expected to hold the largest share in the market during the forecast period. The increasing incidences of target diseases along with growing geriatric problems across the globe, growth in the number of spinal fusion procedures and technological advancements in spinal fusion techniques and bone grafting procedures are the factors surging the growth of the spinal fusion and fixation technologies segment during the forecast period.
The open surgeries segment, by type, to hold the highest share in the market during the forecast period
Open surgeries and minimally invasive surgeries are the segmentation for the spinal implants and surgical devices market based on type. The open surgeries segment is expected to lead the market during the forecast period. The increasing preference for open spine surgeries among medical professionals, rising incidence of spinal deformities and technological advancements in spinal fusion surgeries are the factors that are propelling the growth of the segment during the forecast period.
Asia Pacific region to grow at the highest CAGR in the market throughout the forecast period
North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the segmentation for the market based on geography. During the forecast period, it is estimated for the Asia Pacific region to grow at the highest CAGR in the market. The improving healthcare infrastructure, rising awareness, improving reimbursement scenario, and the growing insurance coverage in several APAC countries are the factors that are driving the growth of the market in the Asia Pacific region.
The following are the major objectives of the study:
- To define, describe, and forecast the spinal implants and surgical devices market on the basis of product, application and region.
- To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
- To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players.
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
- To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the spinal implants and surgical devices market.
Critical Questions which the report answers:
- What are the major vendor/manufacturers in the market? What is their growth potential during next decade?
- What are the key revenue generating pockets for spinal implants and surgical devices market and their future potential during next decade?
- How competitive landscape is evolving in spinal implants and surgical devices market?
Notable Spinal Implants and Surgical Devices Market Development
