At 5.3% CAGR to 2021, Spinal Implants & Surgical Devices Market Led by North America
PUNE, India, December 1, 2016 /PRNewswire/ --
The global spinal implants and surgical devices market is estimated to reach 17.27 billion by 2021, at a CAGR of 5.3% from 2016 to 2021 dominated by North America with largest share while the spinal fusion and fixation technology segment is estimated to account for the largest share, by technology.
Complete report on global spinal implants and surgical devices market spread across 221 pages, profiling 10 companies and supported with 82 tables and 51 figures is now available at http://www.reportsnreports.com/reports/192516-spine-surgery-devices-market-forecasts-to-2017-fusion-non-fusion-artificial-discs-nucleus-replacement-spinal-decompression-vertebral-compression-fractures-treatment-kyphoplasty-spine-stimulators-and-spine-biologics-global-trends.html.
The growth of the global spinal implants and surgical 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 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 surgical devices market.
The markets such as North America and Europe hold larger shares in the spinal implants and surgical devices market in 2016, the Asia-Pacific region is poised to grow at the highest CAGR 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 surgical devices market in the Asia-Pacific region.
In this report, the spinal implants and surgical devices market has been segmented on the basis of technology (covering spinal fusion and fixation, motion preservation/non-fusion, spinal decompression, and spinal vertebral compression fracture treatment technologies), product (including thoracic fusion & lumbar fusion, cervical fusion, spine biologics, vertebral compression fracture treatment, spine bone stimulators, spinal decompression, 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 surgical devices market in 2016. 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 and adoption of technologically advanced non-fusion spine devices are driving the growth of this market segment.
Geographically, North America is estimated to command the largest share of the global spinal implants and surgical devices market in 2016, followed by Europe. The large market share of the North American region is attributed to the high adoption rate of 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 surgical devices market in North America.
DePuy Synthes (U.S.), Stryker Corporation (U.S.), NuVasive, Inc. (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Globus Medical, Inc. (U.S.), Alphatec Holdings, Inc. (U.S.), Orthofix International N.V. (Netherlands), K2M Group Holdings, Inc. (U.S.), RTI Surgical, Inc. (U.S.) are some of the other key players in this market. Order a copy of Spinal Implants and Surgical Devices Market by Technology (Fusion, Fixation, VCF, Decompression, Motion Preservation), Product (Thoracic, Lumbar, Cervical, Interbody, Kyphoplasty, Artificial Discs, MIS, Biologics, Stimulators) - Global Forecast to 2021 research report at http://www.reportsnreports.com/purchase.aspx?name=192516.
The spinal implants and surgical devices market is highly competitive, with a large number of global and local manufacturers of spinal products. As of 2015, the global spinal implants and surgical devices market was dominated by Medtronic, plc (Ireland) and DePuy Synthes (U.S.), that together accounted for a share of ~38% 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 surgical devices market.
On a related note, another research on Dental Implants and Prosthetics Market Forecast to 2021 says, the titanium implants segment accounted for the largest share of the global market, by materials. By facility, the hospitals and clinics segment accounted for the largest share. According to this research study the global dental implants and prosthetics market is expected to reach USD 12.32 billion by 2021, at a CAGR of 7.2% from 2016 to 2021. Companies like Institut Straumann AG, DENTSPLY Sirona Inc., Zimmer Biomet Holdings, Inc., Danaher Corporation, 3M Company, AVINENT Implant System, CAMLOG Biotechnologies AG, BioHorizons IPH, Inc., OSSTEM IMPLANT Co., Ltd. and Bicon, LLC have been profiled in this 275 pages research report available at http://www.reportsnreports.com/reports/268954-dental-implants-prosthetics-market-implants-crowns-bridges-dentures-abutments-current-trends-opportunities-global-forecasts-to-2018.html .
Explore more reports on the medical devices market at http://www.reportsnreports.com/market-research/medical-devices/.
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