How is Demand for Spinal Bone Stimulators Expected to Grow Over The Forecast: Report Fact.MR

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Spine device manufacturers are also working towards offering better spinal imaging technology for sharper images. Effective in chronic pain conditions, spinal cord stimulation therapy is on a rise, hence, manufacturers are developing spinal cord stimulator devices that can reduce the risk of thermal tissue damage and are compatible with MRI. Companies are also working on stem cell technology and its use in the spine.

According to the latest report by Fact.MR, the global spine devices market is expected to witness massive growth, registering 7.1% CAGR during the forecast period, 2017 to 2022. Owing to an aging population, occupational posture, obesity, etc., spinal diseases are growing rapidly. Hence, spine surgery has also undergone a significant change, with new spine devices being developed to decompress and stabilize the spine. Following insights show how the global spine devices market will perform in the next five years.

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Key Segments Covered in Spine Devices Industry Survey

• By Product:

  • Spinal Rods
  • Spinal Screws
  • Spinal Hooks
  • Spinal Plates
  • Spinal Cages
  • Spinal Spacers
  • Motion Preservation Devices
  • Total Disc Replacement

• By End User:

  • Use of Spine Devices in Hospitals
  • Use of Spine Devices in Orthopaedic Clinics
  • Use of Spine Devices in ASCs

4 Forecast Highlights on Global Spine Devices Market

1. North America is projected to remain dominant in the global spine devices market throughout the forecast period from 2017 to 2022. The market is anticipated to witness the robust growth, reaching close to US$ 2,900 million revenues by the end of 2022. Owing to the availability of healthcare infrastructure and increase in investment by the government to improve healthcare across the region, North America is expected to emerge as the biggest market for spine devices.
2. Asia Pacific Excluding Japan (APEJ) spine devices market is expected to experience impressive growth through 2022. The rise in a number of accidents resulting in spine injury, improving lifestyle and an aging population are some of the factors boosting the growth of APEJ spine devices market.
3. Spinal plates will emerge as one of the most-preferred spine devices. Towards the end of 2017, Spinal plates are projected to gain nearly one-fourth of the revenue share. Meanwhile, spinal screws will also witness healthy growth, reaching nearly US$ 1,500 million revenue by 2022 end.
4. Compared to orthopedic clinics as the end user of spine devices, hospitals will emerge as the biggest users of spine devices. Towards the end of 2022, Hospitals as the end user are projected to surpass US$ 5,600 million revenue. Hospitals are also expected to account for more than two-third revenue share on global revenues by the end of 2017.

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The report has also profiled leading players in the global market for spine devices, which will remain active through 2022. These include companies such as NuVasive, Inc., Exactech, Inc., DePuy Synthes, Braun Melsungen AG., Amedica Corporation, Arthrocare, K2M Group Holding, Inc., Medtronic Plc., Zimmer Biomet Holdings, Inc., and Stryker Corporation.

Competitive Landscape

Some of the key manufacturers of spine devices, such as Exactech Inc., NuVasive Inc., DePuy Synthes, Amedica Corporation, Braun Melsungen AG, Arthrocare, Medtronic Plc., K2M Group Holding Inc., Stryker Corporation and Zimmer Biomet Holdings Inc., etc., have been profiled in this market study.

• In October 2021, NuVasive, a medical device company announced the launch of its new implants for spine surgery – Cohere TLIF-O implant.
• On October 25, 2021, a subsidiary of Medtronic plc, Medtronic Canada ULC, announced the launch of its first robotic spinal surgery platform dedicated solely to spinal procedures.

For More Insights: https://www.biospace.com/article/orthopedic-implants-market-to-surpass-us-900-million-by-2032-fact-mr-report/

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