Spine devices market is expected to witness massive growth, registering 7.1% CAGR during the forecast period, 2017 to 2022. Spine devices are being used to decompress, stabilize the spine and treat various spine disorders. Key players in the spine devices market are focusing on producing innovative devices geared towards minimally invasive approach resulting in quick recovery and low pain. Nanotechnology is expected to be a game-changer in the treatment of spinal diseases. Spinal fusion and fixation devices are also in focus for simplification of complex spinal surgery procedures.
A considerable increase in aging population, incidences of spinal cord diseases and rising number of spinal surgery across the world is driving the growth of spine devices market. These spine devices are being developed with an aim to perform complex surgeries with a less invasive approach, resulting in a speedy recovery, less blood loss, and less pain. Leading players in spine devices market are also coming up with new devices that can offer better diagnostics and treatment of various spine conditions.
Spine devices are also being developed to simplify complex procedures including endoscopic spine surgery, vertebral compression fracture repair, interspinous fixation, interbody fixation, etc. Companies in the spine devices market are also increasingly investing in research and development of advanced technologies including wireless sensor technology.
According to a new Fact.MR report, the spine devices market is projected to reach US$ 8,348.2 million revenue by the end of 2022. The spine devices market is expected to witness robust growth during the forecast period 2017 to 2022. Implantable Polyetheretherketone (PEEK) is also gaining traction and has become one of the most common biomaterials used in spinal devices. Improving quality of care and ongoing research are also driving the spine devices market.
Spinal Plates to Emerge as Highly-Preferred Spine Device
Spinal plates are being used on a large scale by surgeons to ensure fixation of the spine. Spine plates are anticipated to remain the top-selling product in spine devices market during 2017-2022. Sales of spine plates is projected to bring in nearly US$ 2,000 million revenue by the end of 2022. Meanwhile, Spinal screws is expected to emerge as the second largest product in the spinal devices market. Between 2017 and 2022, spinal screws segment is anticipated to create an incremental opportunity of over US$ 300 million.
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Hospitals to Witness Maximum Revenue Share
Hospitals are expected to form as strong customer base in the spine devices market as compared to orthopedic clinics. Towards the end of 2017, hospitals are anticipated to account for over two-third revenue share of spine devices market. Hospitals as end users are projected to reach close to US$ 5,700 million by the end of 2022. Increasing number of spinal surgeries performed at hospitals is one of the factors driving expansion of spine devices market.
The report also profiles companies that are expected to remain active in the expansion of global spine devices market through 2022, which include
- Exactech Inc.
- NuVasive Inc.
- DePuy Synthes
- Amedica Corporation
- Braun Melsungen AG
- Medtronic Plc.
- K2M Group Holding Inc.
- Stryker Corporation
- and Zimmer Biomet Holdings Inc.
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(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
The development of innovative spine devices has increased with the rise in spinal disorders, obese and aging population, and various other factors. Spine devices manufacturers are focusing on developing minimally invasive devices to simplify the complex spinal procedures. Spinal cord stimulation, cell-based technology and endoscopic spine surgery are also among the focus areas of manufacturing spine devices. This Fact.MR report analyzes the expansion of global spine devices market till date, and provides key insights on the growth of the spine devices market during the forecast period, 2017-2022.
The scope of Fact.MR’s report is to analyze the global spine devices market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis. Medical device manufacturers, research institutes, and raw material suppliers in the global spine devices market can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and medical journals pertaining to spine devices.
The report commences with a brief information of the global spine devices market. This executive summary sets the tone for the rest of the report, providing users the scope of the report. The executive summary includes important facts and statistics on the global spine devices market.
The next section offers an overview of the global spine devices market. This comprises an introduction to the market, along with a standard definition of the product – spine devices. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global spine devices market, the report provides updates about market opportunities, which can benefit leading manufacturers of spine devices. With continuous evolution of the healthcare sector, keeping a record of latest developments and trends is fundamental for spine devices manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, regulatory approvals, pricing analysis, list of distributors, and cost structure are provided in this section.
Considering the broad scope of the global spine devices market, the report provides in-depth and segment-wise analysis and forecast. The global spine devices market is segmented on the basis of product type, end user and region. Through this section, report offers detailed country-wise forecast on all the major parameters associated with the spine devices.
The report’s last section comprises of the global spine devices market competitive landscape, to provide readers with the dashboard view of company analysis and market players. This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global spine devices market.
Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research. We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
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