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The global market for thoracolumbar spine devices is anticipated to grow at a CAGR of approximately 6.5% during the forecast period 2017-2023.
The report titled “Thoracolumbar Spine Devices Market -Forecast to 2023″ is a direct appreciation by Market Research Future of the market potential of the Thoracolumbar Spine Devices Market. The report intends to provide accurate and meaningful insights, both quantitative as well as qualitative. It can be said with high confidence level, that this report will satisfy the need for comprehensive insights needed to compete and beat other players in today’s winner takes all market!
The junction between the lumbar and thoracic part of the spine is known as thoracolumbar region. The thoracolumbar spine devices is used in this region to provide a steady support to the spine and avoid bending of thoracic spine. This minimal invasive devices is used as an alternative to spinal fusion surgery. The use of thoracolumbar spine devices ensures the retention of mobility of the spine, while spinal fusion surgery can cause movement ceastion.
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.
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 global 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 thoracolumbar spine devices market consists of regions namely America, Europe, Asia Pacific, and the Middle East & Africa.
The Americas region is estimated to dominate the market over the forecast period owing to the growing support by key players for outsourcing the manufacturing process to the developing economies. The large share of Americas region is due to expansion of the U.S. healthcare industry in the emerging economies.
The European market is anticipated to register a substantial growth owing to the increasing number of cases for spine disease, increasing geriatric population, technology advancements, and improving reimbursements. As per a study published in 2014 by the British Editorial Society of Bone and Joint Surgery, the rate for spinal fusion surgery for lumbar and cervical regions has augmented swiftly, however the rate of thoracic surgeries has declined over a period of time.
The Asia Pacific region is anticipated to emerge as the fastest growing thoracolumbar spine devices market owing to the increasing healthcare infrastructure, rising awareness among people, and large patient pool.
The Middle East & Africa has the potential to transpire as a large scale development and production hub for medical devices. The major factor contributing to this transformation would be low cost of product development in this region.
What makes our report unique?
1) An extensive research study on the Global Thoracolumbar Spine Devices Market, and its entire ecosystem, describes the market trends, drivers, restraints and opportunities of the Thoracolumbar Spine Devices Market.
2) We provide you the longest possible market segmentation based on type of products, procedures and geography and describe the market share region wise.
3) The report gives a bird eyes view on the competitive landscape which includes mergers and acquisitions, collaborations, market strategies, and new product launches.
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