Low back pain is becoming a very common health problem across the globe. Affecting people of all ages from children to elderly, low back pain can be acute or chronic. The prevalence of spine disease is also on a rise due to increasing aging population, changing lifestyle, constant stress, acute or repetitive injuries and various other conditions. There has been a drastic change in spine surgery, with the robotic spine surgery currently being offered by few healthcare providers, giving patients improved outcome than the traditional surgical procedure. Manufacturers are also focusing on developing minimally invasive devices. As the less invasive procedure can result in lower pain score and lead to quick recovery time. Surgeons around the world are also focusing on endoscopic techniques leading to less invasive spine care, hence, new technologies are being developed to simplify technically complex procedures.
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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.
4 Forecast Highlights on Global Spine Devices Market
- 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.
- 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.
- 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.
- 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.
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.
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To deliver a seamless understanding of the Spine Devices market, the report is divided into 18 sophisticated chapters whose snapshots are provided below.
Chapter 1 – Executive Summary
The report commences with the chapter of the executive summary which delivers brief yet affluent information of the Spine Devices market. The chapter includes discussion on the market overview, market analysis and market recommendations regarding the Spine Devices market derived based on Fact.MR’s proprietary wheel of fortune.
Chapter 2 – Market Introduction
In the market introduction chapter, the Spine Devices market is introduced along with the
market segmentation in the form of market taxonomy. The chapter also introduces the Spine Devices in the market definition section.
Chapter 3 – Spine Devices Market Background
In this chapter, macroeconomic factors, market dynamics, a complete value chain and pricing
analysis with regard to Spine Devices market is elaborately discussed. Discussion on the
market drivers, restraints, trends and opportunities and their impact on the market forecast is also
covered in this chapter.
Chapter 4 – Global Spine Devices Market Analysis 2013–2017 and Forecast 2018–2026
This chapter provides the Spine Devices market size in terms of market volume and value
during the forecast period. Market analysis based on absolute $ opportunity and y-o-y growth of the Spine Devices market is also covered in this chapter.
Chapter 5 – Global Spine Devices Market Analysis 2013–2017 and Forecast 2018–2026,
By System Type Based on system types in the Spine Devices market, the chapter elaborates market size of individual systems and analysis by system types and summary of this section is covered in the chapter.
Chapter 6 – Global Spine Devices Market Analysis 2013–2017 and Forecast 2018–2026, By Application
Based on applications, Market size of individual applications, their market attractiveness analysis and summary are also covered.
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Chapter 7 – Global Spine Devices Market Analysis 2013–2017 and Forecast 2018–2026, By End User
This chapter elaborates the segmentation of the Spine Devices market based on end users
including independent end users, Market attractive analysis by end users is also discussed to fathom relative lucrativeness of different end users of the Spine Devices market.
Chapter 8 – Global Spine Devices Market Analysis 2013–2017 and Forecast 2018–2026, By Region
With the geographical perspective, the Spine Devices market is analyzed on a total of seven regions including North America, Latin America, Europe, South East Asia & Pacific, Middle East & Africa, China and Japan. Historical data and prevailing trends in the Spine Devices market and their influence on the global market performance is discussed in this chapter.