Market Research Future Published a Half Cooked Research Report on Global Thoracolumbar Spine Devices Market Research Report. Rising R&D expenditure is driving the demand for spine stabilization devices in the Americas market during the forecast period 2017- 2023.
The Americas medical devices industry is flourishing owing to the increasing numbers of contract manufacturers along with the increasing aging population. The aging population commonly suffers from spinal disorders. As aging causes the cartilage between the joints to deteriorate, leading to various spinal disorders. Severe cases also require surgical intrusion. The surge in spinal disorders will escalate the number of minimal invasive spinal surgeries, thus driving the growth of the global thoracolumbar spine device market.
Geographically, global thoracolumbar spine device market consists of regions namely the Americas, Europe, Asia Pacific, the Middle East and Africa with the Americas leading the market globally.
The Americas acquires a majority of the market share for the global thoracolumbar spine device owing to the increasing geriatric population along with the rising incidence of spinal disorders such as herniated disc in neck, degenerative disc disease, and spondylolisthesis. It has been estimated that the market will witness growth in the region throughout the forecast period due to the growing demand for thoracolumbar spine devices to treat prolapsed intervertebral disc, spinal stenosis, and osteoarthritis in the region.
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Some of key the players in the global thoracolumbar spine devices market are Alphatec Holdings, Inc. (U.S.), B. Braun Melsungen AG (Germany), Depuy Synthes (Johnson & Johnson) (U.S.), Exactech, Inc. (U.S.), Globus Medical, Inc. (U.S.), Medtronic Plc. (U.S.), NuVasive, Inc. (U.S.), Orthofix International N.V. (U.S.), Stryker Corporation (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Paragon Medical, Inc. (U.S.), Norman Noble, Inc. (U.S.), Nutech (India), Titan Spine (U.S.), Wenzel Spine, Inc. (U.S.), X-Spine Systems, Inc. (U.S.), Tecomet, Inc. (U.S.), Marox Corporation (U.S.), Axial Medical (U.S.), Spine Wave, Inc. (U.S.), K2M, Inc. (U.S.), Captiva Spine, LLC (U.S.), Coligne AG (Switzerland), Yellowsteps SAS (U.S.), Medyssey Co. Ltd. (South Korea), Aesculap Implant Systems, LLC (U.S.), Ulrich Medical (Germany), and others.
The Americas thoracolumbar spine device market is segmented on the basis of product type, devices type, procedure, materials, and end user.
On the basis of product type, the global thoracolumbar spine device market can be segmented into instrumentation, implants, spine biologics, and other.
On the basis of devices type, the global thoracolumbar spine device market can be segmented into anterior stabilization device, posterior stabilization device, retractors, and other.
On the basis of procedure, the global thoracolumbar spine device market can be segmented into open surgery, minimally invasive surgery (MIS), and other.
On the basis of material, the global thoracolumbar spine device market can be segmented into titanium, stainless steel, and others.
On the basis of end user, the global thoracolumbar spine device market can be segmented into hospitals, clinics, diagnostic centers, academic institutes, research centers, and others.
The global market of thoracolumbar spine device is expected to grow at a CAGR of approximately 6.5% during the forecast period 2017-2023.
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The growing incidence of spinal disorders such as vertebral fracture, degenerative disc disease, spinal stenosis, and excessive kyphosis worldwide is driving the global thoracolumbar spine devices market. Further, fissures in the thoracolumbar region can be a major cause for surgical intrusion. These vertebral fractures are either caused through accidents or calcium and other mineral deficiency. This deficiency is caused due to osteoporosis and rickettsia that ultimately deteriorate the bone causing fractures.
Moreover, cases of spinal ailments such as spondylolisthesis and prolapsed intervertebral disc are rising globally. Besides, 80% of people suffer from lower back pain throughout the globe. All the above mentioned factors increase the adoption of thoracolumbar devices for treatment purposes.
Generally, open surgery can be a painful procedure and can require a prolonged hospital stay. This has resulted in rising inclination towards minimally invasive surgeries (MIS) amid patients, governments, healthcare providers, and others. The shift from traditional open surgeries to minimally invasive surgeries has improved the patient gratification owing to fast recovery and shorter hospital stay. The cumulative demand for minimally invasive spine surgery is one of the key factors that is clearly impacting the growth of the global thoracolumbar spine devices market.
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