Spinal Implants and Devices Market Likely to Garner $13,384 Million, Globally, by 2022
The report on “Spinal Implants and Devices Market Report” published by Allied Market Research states that the spinal implants and devices market is expected to grow to $13,384 million by 2022 from $9,741 million in 2015, registering a CAGR of 4.6% from 2016 to 2022.
Spine implants and devices find application in the treatment of spinal deformities such as spinal stenosis and isthmic spondylolisthesis.
The growth of the spinal implants and devices market is driven by factors such as the emergence of minimally invasive spine surgery methods, rising incidence of spinal disorders, increased geriatric population, and technological developments in bone grafting products. Nonetheless, the unfavorable reimbursement scenario and stringent regulatory approval process are factors that act as impediments for the industry growth. On the other hand, technological advancements in the field is likely to present favorable opportunities for the market growth.
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Among the product types, spinal fusion implants are likely to lead the market in terms of revenue throughout the forecast period. This is due to various advancements in the field such as the emergence of hook, rod, and screw systems, which enable surgeons to mend the spinal deformities in a three-dimensional way, and the development of special plates and cages that promote spinal fusion.
Among the surgery types, open spine surgery was the largest segment in 2015, capturing nearly two-thirds of the global market share. Nonetheless, the minimally invasive surgery market is likely to manifest the fastest CAGR of 14.7% during the forecast period.
Among the regions discussed in the report, Asia-Pacific is expected to grow at the fastest CAGR of 5.7% during the study period. This is due to improvement in healthcare infrastructure and the growing expenditure in emerging markets such as India and China to address the unmet medical needs. In addition, technological advancements to develop cost-effective devices in these nations present new opportunities for the growth of the industry.
The report discusses the leading players operating in the spinal implants and devices market. They include Alphatec Holdings, Inc., B. Braun Melsungen AG, Depuy Synthes (Johnson & Johnson), Exactech, Inc., Globus Medical, Inc., Medtronic plc, NuVasive, Inc., Orthofix International N.V., Stryker Corporation, and Zimmer Biomet Holdings, Inc.
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- The study provides an in-depth analysis of the global market, with current trends and future estimations, to elucidate the imminent investment pockets.
- Quantitative analysis from 2014 to 2022 is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- The report provides actual historical figures for 2014 and Y-o-Y forecasts from 2016 to 2022, considering 2015 as base.
- Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities.
- Extensive analysis is conducted by closely following key product positioning and monitoring the top contenders within the market framework.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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