Spinal Devices Market 2020 Global Industry Analysis to 2026 is latest report on “Global Spinal Devices Market”, published by Fortune Business Insights. According to report Spinal Devices Market to rise at 3.9% CAGR and Reach $ 15.74 Billion by 2026. Report segments market for Spinal Devices by Product Type (Fusion Devices (Cervical Devices, Thoracolumbar Devices, and Biologics), Non-Fusion Devices (Vertebral Compression Fracture Devices, Dynamic Stabilization Devices), and Stimulation Devices) By Disease Indication (Degenerative Disc Disease, Traumas & Fractures), By End User (Hospitals & Ambulatory Surgery Centers, Specialty Clinics and Others) and Regional Forecast, 2019-2026.
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The players operating in the global spinal devices market are Zimmer Biomet, ReWalk Robotics, Medtronic, Stryker Corp., Orthofix Holdings, Inc., Smith & Nephew Plc., RTI Surgical, and others.
Global Spinal Devices Market Highlights:
The rising geriatric population and their vulnerability towards various diseases of the bones and spine are driving the global spinal devices market, predicts Fortune Business Insights in their recent report.
The report predicts that the internal fixation devices sub segment will dominate the global market in terms of segmentation by product type. This is owing to the long term benefits and better flexibility offered by internal fixation devices that is propelling their demand in the market.
Spinal Devices Market Segment Analysis:
Spinal Devices Market Size, Share and Global Trend by Product Type (Internal fixation, External fixation), By Injury Type (Traumatic spinal cord injury, Non-traumatic spinal cord injury), By End-user (Hospitals & clinics, Trauma centers, Ambulatory surgery centers), And Geography Forecast till 2026.
Spinal Devices Market Regional Insights:
Fortune Business Insights foresees the global spinal devices market to be dominated by North America on account of the rising prevalence of spinal cord injuries and sports injuries, high medical expenditure and established healthcare facilities in the developed economies of the U.S., and Canada. The market for spinal devices in Europe is expected to grow remarkably during the forecast period due to the increasing number of patient pools in the region. This, coupled with the increasing number of road accidents and rising disposable incomes of people, is anticipated to boost the global spinal devices market during the forecast period.
Spinal Devices Market Growth And Restraints Analysis:
Various factors stand responsible for the growth of the global spinal devices market including the increasing awareness about health and various government initiatives to spread awareness about the same. Spinal cord injury may be a result of violent attack on the person, accidents, diving accident, or sports injury, and traumas due to any falling from height or accident. An injury in the spinal cord may result in temporary or permanent damage. If not, then there are higher chances of changes or damage of the body sensation, or strength and defect in the body’s functionality below the injury site. Such instances contribute to the growth of the global spinal devices market.
Rise in geriatric population is increasing the list of problems associated with them. Problems such as heart diseases, weak bones, and kidney problems start showing in geriatric and the bariatric population. Besides this, the number of road accidents, sports injuries and other such instances are also adding boost to the global market. This, coupled with the number of incidents that are non-traumatic such as spinal stenosis, multiple sclerosis and cancer osteoporosis spinal tumors, are expected to promote growth of spinal devices in the future market.
On the flipside, the market may be restricted on account of high treatment costs, high cost of installation and maintenance of these devices for spinal injury. In addition to this, the lack of adequate and skilled professionals in this field may hamper the growth of the spinal devices market during the forecast duration. This, accompanied by lack of awareness about treatment of spinal cord injury may restrict the market’s growth in future. Furthermore, cases of incorrect labelling of the screw diameter of these devices has also created stringent product approval regulations that may affect the market in negative light. This, coupled with, the uncertainties of reimbursement policies set by governments may also cause hindrances to the global spinal equipment market in the coming years.
Nevertheless, the rising demand for minimally invasive surgeries is a major factor boosting the market and this will help the market gain momentum during the forecast period.
Highlights of the Report:
In-depth analysis of various insights, namely, Spinal Devices Market trends, growth drivers, opportunities, and other related challenges.
Comprehensive details of key market players, their core competencies, and Spinal Devices Market share.
The potency of suppliers and buyers to make better business decisions.
Lists out the market size in terms of volume.
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