(I-BusinessNews.Com, August 25, 2020 ) The advancements in spine surgeries technologies, such as the development of safer, more effective, advanced, simple, and easy-to-use spinal implants and devices; the increasing incidence of spinal disorders; and the launch of advanced bone grafting products are some of the key factors driving the growth of the spinal implants and surgery devices market.
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• On the basis of technology, the spinal implants and surgery devices market is segmented into spinal fusion and fixation, vertebral compression fracture treatment, motion preservation/non-fusion, and spinal decompression technologies.
• Based on product, the spinal implants and surgery devices market is segmented into thoracic fusion and lumbar fusion devices, cervical fusion devices, spine biologics, non-fusion devices, vertebral compression fracture treatment devices, spinal decompression devices, and spine bone stimulators.
• Based on the type of surgery, the market is segmented into open and minimally invasive surgeries. The open surgeries segment accounted for the largest share of the Spinal Surgery Devices Market in 2019.
The major players operating in the spinal implants and surgery devices market are Medtronic (Ireland), DePuy Synthes (US), NuVasive, Inc. (US), Stryker Corporation (US), B. Braun Melsungen AG (Germany), Zimmer Biomet Holdings, Inc. (US), Globus Medical, Inc. (US), Orthofix International N.V. (US), Abbott Laboratories (US), RTI Surgical, Inc. (US), Boston Scientific (US), SeaSpine Holdings Corporation (US), ulrich GmbH & Co. KG (Germany), Spineart (Switzerland), Kuros Biosciences AG (Switzerland), Bioventus, LLC (US), Colfax Corporation (US), Meditech Spine, LLC (US), and Implanet (France).
Medtronic (Ireland) dominated the global spinal implants and surgical devices market in 2019, owing to its wide portfolio of spine surgery products and strong geographical presence across the globe. The company primarily focuses on developing technologically advanced products for minimally invasive spine surgeries.
DePuy Synthes (US) held the second position in the global spinal implants and surgery devices market in 2019. The company has a strong geographical presence and offers a broad range of products that are integral to the spinal implants and surgical devices market. The company primarily focuses on strengthening its R&D capabilities to continuously develop and commercialize innovative spine products in the global market.
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The spinal implants and surgery devices market is segmented into five regional segments, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The large share of the North American market can be attributed to its highly developed healthcare infrastructure and reimbursement systems and high patient awareness and physician education. However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period, primarily due to the improving healthcare infrastructure, rising awareness, improving reimbursement scenario, and the growing insurance coverage in several APAC countries.
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