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Spinal Non-Fusion Device Market Taxonomy:
On the basis of product type, spinal non-fusion device market is segmented into:
Artificial disc replacement device
Partial disc (nucleus) replacement device
Dynamic stabilization devices
Total Facet replacement devices
Annulus repair device
Other product type
On the basis of end user, spinal non-fusion device market is segmented into:
Spinal Non-Fusion Device Market Driver
Advancements in musculoskeletal implants to improve the outcomes of non-fusion technology is the main strategy followed by market players. For instance, in 2016, Zimmer Biomet expanded its spine portfolio by acquiring LDR Holding Corporation and its Mobi-C Cervical Disc Prosthesis, thereby fetching a leadership in cervical disc replacement technology. In 2015, Aesculap implant systems, LLC received approval from FDA for commercial sale of the activL Artificial Disc, which can be used for the treatment of degenerative disc disease. Such developments in spinal non-fusion devices is expected to propel growth of spinal non-fusion device market.
The mergers and acquisitions strategy adopted by the key players is a major factor augmenting the spinal non-fusion devices market. For instance, in 2015, Amendia Inc., a provider of innovative spinal technologies acquired the business of Custom Spine, thereby gaining its extensive portfolio of new generation, surgeon-friendly spinal technologies. Moreover, the increasing incidence of Lumbar degenerative disc disease (LDDD), which causes chronic low-back pain with lumbar segmental instability and requires surgical intervention using disc replacement products is expected to augment the growth of spinal non-fusion device market. Surgical devices and drugs has to go through stringent approval system, which makes the expansion of the device as well as drug market very difficult. Furthermore, expensive spine surgery and treatments, and the need for highly experienced medical practitioners is expected to hinder the growth of spinal non-fusion device market.
The global spinal non-fusion device market is expected to grow by the increasing incidence of spinal injuries. According to the National Center for Biotechnology Information (NCBI), in 2007, the global incidence of spinal cord injury was estimated to be 170,312 cases, which increased up to 250,000 to 500,000 cases in 2013. According to the American Chiropractic Association, in 2018, 31 million people in the U.S. experience low-back pain and 80% of the population experiences back problem at some phase of their life. Spinal disorders caused to sedentary life style, obesity, and injuries related to sports and accidents also plays an important role in increasing rate of spinal non-fusion surgeries. Improved mobility, improved quality of life, and cost-effectiveness of procedures in comparison with the non-operative treatment accelerates demand for spinal non-fusion devices.
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Spinal Non-Fusion Device Market – Regional Analysis
North America region dominates the spinal non-fusion device market, which is attributed to increasing rate of adoption of new technology and governmental initiatives to improve quality of life. Asia Pacific could also prove lucrative in terms of market opportunities due to awareness about healthy living, increase in medical facilities, and significant rise in geriatric population. For instance, the United Nation Economic and Social Commission for Asia and the Pacific population data sheet of 2016 showed that 12.4% of the population of the region was 60 years or older and it is expected to increase by 2050.
Spinal Non-Fusion Device Market - Competitor
The major key players in spinal non-fusion device market include Medtronic, DePuy Synthes, Stryker Corporation, NuVasive, Inc., Globus Medical, Inc., Paradigm Spine, LLC, and Zimmer Biomet Holdings, Inc.
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