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Albany, NY -- (SBWIRE) -- 11/12/2014 -- Spine market is the largest segment of the global orthopedic industry. Spine disorders are categorized in four sections: degenerative conditions, deformities, tumor and trauma-based disorders. Spinal implants include both fusion and non-fusion devices: devices associated with vertebral compression fracture (VCF), interbody devices, cervical, thoracolumbar, and spinal stimulation devices.
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Spine industry has witnessed myriad technological advancements over the past two decades and it is expected that this trend will continue in future to solve the present challenges and fill the unmet needs of the market. It is expected that new innovations in the field of minimally invasive surgeries will continue to have a positive impact on the market as the new and improved surgical tool will make complicated spine surgeries easier than before. The principal advantage of these procedures over traditional surgery is short recovery time, short length scars, low risk of infection, less bleeding, and shorter hospital stays. Spine market is expected to show growth over the long term because of the driving factors such as increasing demand for motion preservation techniques, favorable dynamics, increased usage of implants in surgeries, and growing presence of new companies in the market every year. These small companies enter with their own unique and innovative products to address the various areas of spine industry.
The global spine surgery devices market has seen challenging and dynamic market conditions over past few years, but still remains strong. The US is the largest geographic market for spinal fusions today. Spinal fusions show clinical success among appropriately indicated patients in a variety of procedures, making spinal fusion one of the most frequently performed procedures in the US.
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While Medtronic, Johnson and Johnson, and Stryker remain the leading players over the years, they are continuously losing their market share to smaller players like NuVasive and Globus Medical illustrating a strong performance by these companies. Although the top companies still hold dominant positions yet factors like greater product development, innovation and choice will change the competitive dynamics in the industry in the years ahead.
The report, “Global Spine Market” analyzes the development of the global spine market, with a focus on its largest market viz. the US. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The three major players in the industry, Medtronic, Johnson and Johnson, and Stryker, are being profiled, along with their key financials and strategies for growth.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the global spine market. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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