Fast Market Research announces the availability of the new Markets and Markets report, "Spinal Implants and Spinal Devices Market - Global Forecast to 2020", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 10/15/2015 -- Spinal Implants and Spinal Devices Market by Product (Thoracic, Lumbar, Cervical Fusion, Biologics, Motion Preservation, VCFs, Bone Stimulator), Technologies, Minimally Invasive Device, Decompression (Laminectomy, Corpectomy) - Global Forecast to 2020
The global spinal implants and spinal devices market is estimated to grow at a CAGR of 5.6% from 2015 to 2020. Although mature markets (such as North America and Europe) hold larger shares in the spinal implants and spinal devices market in 2015, the Asia-Pacific region is poised to grow at the highest CAGR of 8.2% in the next five years. Factors such as the presence of a large patient population, growing number of obesity cases, increasing government spending on healthcare, and rising income levels are propelling the growth of the spinal implants and spinal devices market in the Asia-Pacific region.
The growth of the global spinal implants and spinal devices market is driven by factors such as technological advancements in spine surgery devices, growing demand for minimally invasive spine surgeries, and increasing aging and obese population with increasing number of spine deformities. In addition, emerging Asian and Latin American nations and growing number of hospitals and surgical centers are offering new growth opportunities for the spinal implants and spinal device manufacturers. Nonetheless, the stringent product approval process, high cost of treatment procedures, uncertainty in reimbursement, and lack of adequate physician and patient awareness/education are the key reasons hampering the growth of the spinal implants and spinal devices market.
Get More Details on this Report and a Full Table of Contents at Spinal Implants and Spinal Devices Market - Global Forecast to 2020
In this report, the spinal implants and spinal devices market has been segmented on the basis of technology (covering spinal fusion and fixation, motion preservation/non-fusion, and spinal vertebral compression fracture treatment technologies), product (including thoracic fusion & lumbar fusion, cervical fusion, spine biologics, vertebral compression fracture treatment, spine bone stimulators, and non-fusion treatment devices), type of surgery (open and minimally invasive), and region (North America, Europe, Asia-Pacific, and the Rest of the World). The spinal fusion and fixation technology segment is estimated to account for the largest share of the global spinal implants and spinal devices market in 2015. However, the motion preservation/non-fusion technology segment is expected to grow at the highest CAGR during the forecast period. Factors such as advantages of non-fusion surgeries over conventional spine surgeries and increasing launches of technologically advanced non-fusion spine devices are driving the growth of this market segment. The report also covers the spinal decompression devices market; it has been further classified into five segments on the basis of type of procedure, namely, discectomy, laminotomy/laminectomy, foraminotomy/foraminectomy, facetectomy, and corpectomy.
Geographically, North America is estimated to command the largest share of 64.9% of the global spinal implants and spinal devices market in 2015, followed by Europe. The large market share of the North American region is attributed to the increased awareness about the newly developed treatment technologies and the well-established healthcare infrastructure and reimbursement system in this region. A number of factors such as the increasing incidences of spinal disorders, growth in the aging and obese population, and rising government funding to support R&D of innovative spine treatment devices are further stimulating the demand for spinal implants and spinal devices in North America. However, stringent regulatory policies for product approval and rising government pressure to reduce healthcare costs are negatively affecting the growth of the spinal implants and spinal devices market in North America.
The spinal implants and spinal devices market is highly competitive, with a large number of global and local manufacturers of spinal products. As of 2014, the global spinal implants and spinal devices market was dominated by Medtronic, plc (U.S.) and DePuy Synthes (U.S.), that together accounted for a share of 47.4% of the global market. New product launches and product enhancements; agreements, partnerships, and collaborations; and mergers and acquisitions are the major strategies adopted by most of the market players to achieve growth in the spinal implants and spinal devices market.
Reasons to Buy the Report:
From an insight perspective, this research report focuses on various levels of analysis -market share analysis of the top players and company profiles, which together comprise and discuss basic views on the competitive landscape; emerging and high-growth segments of the spinal implants and spinal devices market; and high-growth regions and their respective drivers, restraints, challenges, and opportunities.
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