Pune, India -- (SBWIRE) -- 08/23/2018 -- Market Insight:
Market Research Future (MRFR) reports that the global cervical fusion market is projected to register a striking CAGR of approximately 9.3% during the forecast period (2017-2023). The cervical fusion technique refers to the fusion of more than two vertebrae to prevent unwanted motion of discs. In other words, the technique permanently connects two or more vertebrae in the spine to enhance stability, and correct a deformity.
Drivers and restraints:
The growing geriatric population subsequently leads to increasing cases of spinal deformities. Hence, the need for cervical fusion surgery increases as well. The market is bolstered by the increasing awareness among the younger generation about the preventative care treatments. Moreover, the growing health concerns have steered various government bodies to undertake numerous initiatives, providing the market with a lot of growth potential.
Industry experts assert that the global market will grow at an unfaltering rate even though high initial cost could hamper the market growth to some extent. This smooth sailing growth of the market can be attributed to the increasing prevalence of rheumatoid and osteoarthritis.
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Industry Trends:
In July 2018, Mahe Medical (USA) introduced its universal spine emergency screw removal system that helps patients go through a procedure in a short period without impacting the outcome. With numerous technological advancements underway as market trends, industry experts predict sustainable growth for the global market. Market players are continuously coming up with simpler and cost-effective solutions in the form of technological enhancements.
Industry Development
The FDA has granted Wright Medical Group N.V. premarket approval (PMA) for its Augment Injectable Bone Graft which possesses a recombinant human platelet-derived growth factor (rhPDGF). Augment Injectable is a combination of recombinant human platelet-derived growth factor (rhPDGF-BB) and a blend of Type I collagen and Beta tri-calcium phosphate. It provides a clinically proven and safe alternative to autograft for use in hindfoot and ankle fusion.
Market Segmentation:
The global cervical fusion market is segmented based on fusion type, type, surgery, and end-user.
By fusion type, the global cervical fusion market is segmented on the basis of anterior interbody fusion, anterior cervical fusion, posterior fusion, and others. The interbody cervical fusion is sub-segmented into non-bone interbody cervical fusion, bone interbody cervical fusion, and others.
By type, the global cervical fusion market is segmented on the basis of metal type, polymeric type, and others.
By surgery, the global cervical fusion market is segmented on the basis of minimally invasive spine surgery, open spine surgery, and others. The market is poised to experience a massive demand for minimally-invasive surgeries as they pose lesser risk and complication post surgeries.
Based on end-user, the market is segmented into orthopedic clinics, multispecialty hospitals, neurology clinics, and others. In the coming years, the demand from orthopedic centers is predicted to increase, in turn fortifying growth opportunities for the global spinal fusion devices market.
Regional Analysis
The global cervical fusion market is spread among four regions that are the Americas, Europe, Asia Pacific, and the Middle East & Africa.
Among all regions, the Americas dominate the global cervical fusion market due to a combination of various factors, namely fast disease progression, technological improvements in the spinal disorder treatment process, broadening insurance coverage and the expanding private healthcare sector, improving the overall healthcare infrastructure, and the economic growth. In addition, there has been a remarkable rise in the number of surgical procedures in the U.S. and Canada on account of large pool of patient population that propels the market growth.
The Europe region is the second largest market on account of increasing cases of accidents, disorders causing spinal injuries, the use of hand-held surgical devices, and also advancements in the procedure of surgeries.
Asia Pacific market is growing at the fastest growth rate owing to growing adoption of spinal fusion surgeries and constant efforts by key players for the development of the regional market. Japan has observed a tremendous increase in cervical fusion surgeries due to the presence of the aging population and subsequent cervical injuries.
Lastly, Middle Eastern and African region is growing steadily but contributing the lowest share of the global cervical fusion market. This can be due to underdeveloped healthcare infrastructure and weak economy.
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Key Players:
Medtronic, Inc. (U.S.), DePuy Spine, Inc. (U.S.), Synthes, Inc. (U.S.), Stryker Corporation (U.S.), NuVasive, Inc. (U.S.), Integra LifeSciences Corporation (U.S.), LDR Holding Corporation (U.S.), Globus Medical Inc. (U.S.), Orthofix Holdings, Inc. (U.S.), Biomet, Inc. (U.S.), Zimmer Holdings, Inc. (U.S.), Alphatec Spine, Inc. (U.S.), Pioneer Surgical Technology Spine (U.S.), K2M, Inc. (U.S.), ArthroCare Corporation (U.S.), B. Braun Melsungen AG (Germany), Medicrea Technologies UK Ltd (UK), BAUMER (Switzerland), Medacta (U.S.), Shanghai Microport Orthopedics (China), and others.
Major Points form Table of Content of Global Cervical Fusion Market:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
Chapter 3. Research Methodology
Chapter 4. Market Dynamics
Chapter 5. Market Factor Analysis
Chapter 6. Global Cervical Fusion Market, By Type
Chapter 7. Global Cervical Fusion Market, By Treatment
Chapter 8 Global Cervical Fusion Market, By End User
Chapter 9. Global Cervical Fusion Market, By Region
Chapter 10 Company Landscape
Chapter 11 Company Profiles
Chapter 12 MRFR Conclusion
Chapter 13 Appendix
….TOC Continue
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