Global Spinal Implants And Surgery Devices Market projected to grow at a CAGR of 5.0% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Spinal Implants And Surgery Devices Market by Type of Surgery (Minimally Invasive Surgeries, Open Surgeries), Product (VCF Treatment Devices, Cervical Fusion Devices, Spinal Decompression Devices, Invasive Spine Bone Stimulators, Thoracic Fusion & Lumbar Fusion Devices, Spine Bone Stimulators, Posterior Cervical Fusion Devices, Spine Biologics, Non-Fusion Devices), Technology (Motion Preservation/Non-Fusion, Spinal Decompression, Vertebral Compression Fracture Treatment, Spinal Fusion & Fixation), Regions, and Global Forecast 2020-2027.
The global spinal implants and surgery devices market is expected to grow from USD 10.3 billion in 2019 to USD 15.21 billion by 2027, at a CAGR of 5.0% during the forecast period 2020-2027. The Asia-Pacific region stands as a promising market for spinal implants and surgery devices and is expected to grow at the highest CAGR during the forecast period. This is thanks to factors such as growing awareness, rising insurance coverage and improvement in many healthcare facilities. However, the North America region is expected to account for the largest market share globally due to the reimbursement scenario, rising awareness, and mature healthcare infrastructure.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the global spinal implants and surgery devices market are DePuy Synthes, Braun Melsungen AG, ulrich GmbH & Co. KG, Stryker Corporation, Colfax Corporation, Zimmer Biomet Holdings, Inc., Kuros Biosciences AG, Implanet, NuVasive, Inc., Globus Medical, Inc., Spineart, Meditech Spine, LLC, Abbott Laboratories, SeaSpine Holdings Corporation, Medtronic, and RTI Surgical, Inc., among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the global spinal implants and surgery devices market.
For instance, NuVasive, Inc., announced the introduction of the Pulse combined technology development platform in 2019. Pulse is the first standalone platform to provide a wide range of technologies designed to support surgeons to implement more reliable, less problematic surgical methods in all spinal processes.
On the basis of type of surgery, the market has been segmented into minimally invasive surgeries, and open surgeries. The open surgeries segment held the majority market share in 2019, and this trend is expected to continue over the forecast period due to factors like exclusivity in spinal operations, growing demand for open spine surgeries and the rising occurrence of spinal deformities.
On the basis of product, the market has been segmented into VCF treatment devices, cervical fusion devices, spinal decompression devices, invasive spine bone stimulators, thoracic fusion & lumbar fusion devices, spine bone stimulators, posterior cervical fusion devices, spine biologics, and non-fusion devices. The thoracic fusion & lumbar fusion devices segment is estimated to dominate the global market due to the rising prevalence of lumbar degenerative disc diseases.
On the basis of technology, the market has been segmented into motion preservation/non-fusion, spinal decompression, vertebral compression fracture treatment, and spinal fusion & fixation. The spinal fusion & fixation segment held the majority share in 2019 because of scientific developments in bone graft operations & spinal fusion techniques, increasing elderly population and a growing prevalence of target diseases.
About the report:
The global spinal implants and surgery devices market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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