The spinal fusion segment is likely to grow with higher CAGR between 2017 and 2025 due to rise in spinal disorders such as spine tumors, disc degenerative problems, scoliosis, fractures, etc.
Albany, NY -- (SBWIRE) -- 02/01/2018 -- A fresh 235-page study, focusing on the current and future scenario of global market for spine surgery products market has been broadcasted to the massive repository of Market Research Hub (MRH), which is titled as "Spine Surgery Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025". Furthermore, the geographical segmentation is also included in the report which analyzes the scope of the market in different regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa, which are further categorized into various countries under each region.
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There are more than 450,000 back surgeries performed annually, a large percentage as a result of back and sciatic nerve pain. To overcome this, spine surgery is a treatment option applied to the patients. It has been analyzed that large pool of spine surgery patients is increasing the usage of spine surgery product. In the present time, increasing incidence of spine disorder among geriatric population around the world, rising investments in the innovation of spine surgery product and increasing spine disorder awareness programs are driving the global spine surgery product treatment market.
Major Insights from the Study
According to the research key findings, from value worth US$10.2 bn in 2016, the global spine surgery products market is likely to reach US$16.7 bn by the end of 2025. Also, the market is likely to showcase a CAGR of 5.8% during the mentioned forecast period. One of the prime factors accelerating the growth in spine surgery products market is the physician recommendation for spine surgery and new technological innovation by different key players.
From a geographical viewpoint, North America held dominance with leading share in the global market in 2016. The region's dominance is attributable to the growing incidence of spinal injuries witnessed over the past few years. The early approvals received by spinal surgery products will also aid the market's expansion in North America.
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Further, the market has been analyzed on the basis of product type, application, and end-user. On the basis of end-use, hospitals emerged as the key segment in 2016. The rising hospitalization due to spinal disorders and the availability of a wide range of services at a single site are likely to boost growth witnessed in the hospitals segment in the coming years. By product type, the study covers fusion products and non-fusion products. The fusion product segment has dominated the global spine surgery product market accounting for the highest share in 2016 as these products are mostly utilized during the open surgery of the spine.
At last, the final section of the report deals with the competitive landscape which highlights the key players that are operating in the spine surgery products market along with details such as business positioning, financial standing, and SWOTs. Key players mentioned in the study are Medtronic, Zimmer Biomet, Globus Medical, Alphatec Holdings, Inc., K2M, DePuy Synthes, NuVasive, Aesculap Implant Systems, LLC (B. Braun Company), RTI Surgical, Inc., Orthofix International N.V., Stryker, and others. Advance strategies adopted by these companies are having a significant impact on the overall market.
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