Spinal Devices Market Growth, Trends and Value Chain 2016-2026 by FMI
Spinal devices are used in spinal cord injury in order to regain the loss of body sensation such as mobility or feeling. The spinal cord injury is different from back injuries and patient suffers from major disorders such as ruptured disks, spinal stenosis or pinched nerves. The global market of spinal devices is expected to grow steadily due to increase in aging among population, incidences of spinal diseases and advances in technology. The global spinal devices market is anticipated to be driven by product innovations, pipeline methodologies, FDA approvals and growing number of spinal surgeries. According to the Society of Neurointerventional Surgery, neurointervention is an approach for treatment that occurs within the vessels of brain or with the spinal cavity. It is gaining high traction among neuro-specialist due to minimal invasive technique and higher success rate ratio as compared to the conventional clipping method. In October 2016, the U.S. Food & Drug Administration approved the pedicle screw spinal system in order to provide immobilization and stabilization of spinal segments in thoracic, lumbar, and sacral spine as an adjunct fusion in treatment of degenerative disc diseases and spondylolisthesis. Few surgeries, such as minimally invasive spine surgery aims to stabilize the vertebral bones and spinal joints which relieve pressure applied to spinal nerves. The surgery induces the placement of instrument, such as rods and screws to stabilize the spine. Various techniques have been deployed for MIS surgery such as discetomy, spinal decompression, MIS (Minimally Invasive Surgery) TLIF (Transforaminal lumbar interbody fusion) which uses tubular retractor, portals to implant the devices, rods, screws in order to stabilize the spinal cord and improve the mobility.
Spinal Device Market: Drivers and Restraints
The global market for spinal device is expected to be driven by the advancement in technology and increase in number of spinal surgery, aging among population, etc. According to the National Spinal Cord Injury Association Resource Center, around 250,000 – 400,000 individuals were living with Spinal Cord Injury or Spinal Dysfunction, out of which 82% were males and remaining 18% were females. The causes of spinal cord injury were motor vehicle accidents (44%), act of violence (24%), sudden falls (22%), sports (8%) and others (2%). Moreover, increased use of spinal devices in elderly patients and arthritis patients are some factors anticipated to fuel growth of the global spinal device market within the forecast period of 2016-2026. However, therapeutics and ongoing drug researches to overcome the pain of surgery could pose a threat for the growth of the global spinal device market during the forecast period.
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Spinal Device Market: Segmentation
The global spinal device market is classified on the basis of device type, end user and geography.
Based on device type, the global spinal device market is segmented into the following:
- Plate Fixation System
- Drug Infusion system
Based on end user, the global spinal device market is segmented into the following:
- Ambulatory Surgical Centers
- Spinal Surgery Rehabilitation Centers
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Spinal Device Market: Overview
Increase in the production number of spinal implants, spinal surgery and ongoing researches on improving quality of care for continence is expected to create an attractive growth opportunity for the global spinal device market through 2026. According to the National Spinal Cord Injury Association Resource Center, 32 spinal injuries per Mn population or 7800 injuries occur in the U.S. each year. The hospitals end user segment is expected to hold the highest market share in global market for spinal devices during 2016-2026.
Spinal Device Market: Regional Overview
Region wise, the global spinal device market is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, Middle East & Africa. North America dominated the global market for spinal devices due to the availability of reimbursement policies as well as healthcare infrastructure. Increasing number of spinal injury incidences through accidents, ageing and improved lifestyle among population are few trends which are expected to fuel the growth of the spinal device market in APEJ region through 2026.
Spinal Device Market: Key Players
Some of the key players in the global spinal device market include Stryker, Vertiflex Inc., Smith & Nephew, Siemens Healthcare GmbH, RTI Surgical, Orthofix Holdings, Inc., Medtronic, Zimmer Inc., CONMED, Aspen Medical Products and others. Most of the providers of spinal devices are adopting the strategy of providing these products through e-commerce and hospital pharmacies so that buyers can browse the products according to their needs. In October 2016, Stryker announced the launch of hand-held LITe BIO Delivery System to deliver bone graft material to spinal surgery sites. The system can be used for any type of spine fusion surgery.
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The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest Of Latin America)
- Western Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Rest Of Western Europe)
- Eastern Europe (Russia, Poland, Rest Of Eastern Europe)
- Asia Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand, Rest Of APEJ)
- Middle East and Africa (GCC countries, S. Africa, N. Africa, Rest Of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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