Spinal Implants and Spinal Devices Market To Enroll $15.73 Billion Market Value by 2020

The Spinal Implants and Spinal Devices Market is expected To Enroll $15.73 Billion market value, growing at a CAGR of 5.6% from 2015 to 2020. A number of factors such as technological advancements in spine surgery devices, increasing aging and obese population along with the rising incidence and prevalence of spinal disorders, and rising demand for minimally invasive spine surgery are propelling the growth of the global spinal implants and spinal devices market. However, stringent product approval process, especially in developed countries, high cost of treatment procedures, and uncertainty in reimbursement are some of the major factors restraining the growth of this market. In addition to this, challenges associated with this market such as lack of adequate physician education and patient awareness about the newly developed spine treatment procedures and government cost containment measures are also limiting the demand for spinal implants and devices.

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The spinal implants and spinal devices market, by technology, includes spinal fusion and fixation, vertebral compression fracture treatment, and motion preservation/non-fusion technologies. On the basis of products, the global spinal implants and spinal devices market is divided into six major segments, namely, thoracic fusion and lumbar fusion devices, cervical fusion devices, spine biologics, vertebral compression fracture treatment devices, motion preservation/non-fusion treatment devices, and spine bone stimulators. Bases on the type of surgery, the global spinal implants and spinal devices market is divided into two segments, namely, open surgery and minimally invasive surgery. The spinal decompression devices market, by type of procedure, covers discectomy, laminotomy/laminectomy, foraminotomy/foraminectomy, facetectomy, and corpectomy procedures.

As of 2015, North America is estimated to hold the largest share of the global spinal implants and spinal devices market, followed by Europe. However, the Asia-Pacific market is expected to grow at the highest CAGR of 8.2% from 2015 to 2020. A number of factors, including rising healthcare expenditure in developing nations owing to growing income levels, increasing government funding, presence of a large patient population, rising obesity cases, and growing awareness on the newly developed spine treatment techniques and devices are propelling the growth of the spinal implants and spinal devices market in the Asia-Pacific region. However, challenges associated with this market, such as scarcity of expertise and trained healthcare workers and lack of adequate patient awareness restricts the market growth in this region.

The research study is aimed at identifying emerging trends and opportunities in the Global Spinal Implants and Spinal Devices Market along with detailed classifications, in terms of revenue. It provides comprehensive competitive landscape and identifies the key players with respect to market size and market share.

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Medtronic, plc (U.S.), DePuy Synthes (U.S.), Stryker Corporation (U.S.), NuVasive, Inc. (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Globus Medical, Inc. (U.S.), Alphatec Holdings, Inc. (U.S.), Orthofix International N.V. (Netherlands), K2M Group Holdings, Inc. (U.S.), and LDR Holding Corporation (U.S.) are the key players operating in the global spinal implants and spinal devices market.

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