Asia Pacific spine surgery devices market worth USD 2.98 billion by 2022, growing at a CAGR of 7.3% between 2016 and 2022.
Sarasota, FL -- (SBWIRE) -- 03/15/2018 -- Zion Market Research has published a new report titled "Spine Surgery Devices Market by Technology Type (Fusion Non-Fusion, Vertebral Compression Fracture, Spine Biologics and Spinal Decompression) for Device Type like Fusion Devices, Fracture Repair, Non-Fusion Devices and Arthroplasty- Asia Pacific Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021". The Asia Pacific spine surgery devices market was valued at USD 1.82 billion in 2015 and is expected to reach USD 2.98 billion by 2022, growing at a CAGR of 7.3% between 2016 and 2022.
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The spine is composed of 26 vertebrates stacked on the top of one other and spinal column allowing us to stand upright twist & bend and provides the main support for our body. Thus, damage to the spinal cord causes serious problem to the spinal column either temporarily or permanently. For the treatment of spinal injuries number of technologies are available including fusion, non-fusion, vertebral compression fracture, spine biologics and spinal decompression.
The growth of spine surgery market is propelled by increasing number of geriatric and obese population. The geriatric and obese population are more prone to spine problems. Moreover, emerging technologies for minimally invasive spine surgery procedures and increasing prevalence of spinal injuries are projected to fuel the growth of spine surgery market. In addition, car and motor vehicles accidents are the main reason for spine injuries, every year due to car and motor vehicle accidents are accounting for more than 35% spine injuries and this will boost the growth of spine surgery device market. On another hand, uncertainty in reimbursement, the high cost of surgery and paucity of education related to spine treatment may hamper the growth of spine surgery market. Nonetheless, increasing demand for medical tourism in emerging markets is likely to open new opportunities in the forecast period.
Based on technology type spine surgery market has been segmented into fusion, non-fusion, vertebral compression fracture, spine biologics and spinal decompression. In 2015, fusion technology segment dominated the market of spine surgery with 40.9% share of the market and but in the forecast it is expected to slow down the growth rate due to emerging technologies in spine biologics segment. In forecast period spine biologics technology is expected to come up as leading segment with highest growth rate.
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Based on device type, the market of spine surgery has been segmented into fusion devices, fracture repair, non-fusion devices and arthroplasty. In 2015, fusion device segment dominated the spine surgery market with 44.9% market share and during the forecast period, the non-fusion market is expected to grow at the healthy rate due to increasing demand for minimally invasive surgeries procedures.
Based on the country, the market has been segmented as China, Japan, India and Rest of Asia-Pacific. In 2015, China was dominating the spine surgery device market followed by Japan while India held the 19.0% share of Asia Pacific spine surgery device market. In the forecast period, China is expected to grow at a CAGR of 7.7% due to increasing geriatric and obese population.
key participants operating in the Asia Pacific spine surgery devices market include Alphatec Spine, Inc., Biomet, Inc., Depuy Synthes Companies, Globus Medical, Inc., Integra Lifesciences Holdings Corporation., Medtronic, Inc., Nuvasive Inc, Stryker Corporation, Zimmer Holding, Inc., and Amedica Corporation.
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Spine Surgery Devices Market: Technology type Segment Analysis
Vertebral Compression Fracture
Spine Surgery Devices Market: Device type Segment Analysis
Spine Surgery Devices Market: Country Segment Analysis
Rest of Asia Pacific