Motion Preservation Market to Witness $1,902 Million by 2022 : AMR Research Report
Global motion preservation devices market was valued at $920 million in 2015, and is projected to reach $1,902 million by 2022, registering a CAGR of 10.9% from 2016 to 2022, According to a new report published by Allied Market Research.
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The growth of the market is driven by increase in geriatric population and rise in incidence of spinal disorders. In addition, motion preservation surgery helps to restore the motion of the spine, which have led to increased adoption of these surgical procedures. However, unfavorable reimbursement scenario and stringent regulatory approval procedure are expected to impede the market growth.
Artificial disc replacement segment generated the highest revenue in the global non-fusion/motion preservation devices market in 2015, owing to their increased preference over spinal fusion procedures. In addition, the nuclear disc prostheses segment is anticipated to grow rapidly, registering a CAGR of 11.1% during the forecast period.
The global motion preservation devices market is segmented on the basis of surgery into open spine surgery and minimally invasive spine surgery (MISS). The open spine surgery segment generated the highest revenue in 2015. However, the MISS segment is expected to grow at the highest CAGR during the study period.
North America accounted for the majority of revenue in 2015, and is expected to maintain its dominance throughout the forecast period. This is attributed to increased adoption of motion preservation devices in surgery and rise in incidence of spinal disorders and impairments, such as spinal stenosis. However, the Asia-Pacific region is projected to grow rapidly during the forecast period, registering a CAGR of 11.5%. Improving healthcare infrastructures and increase in expenditures in the emerging markets, such as India and China, to cater to the unmet medical needs in these countries have bolstered the market growth.
Key findings of Motion Preservation Market:
• The artificial disc replacement devices segment accounted for nearly half of the global motion preservation devices market in 2015.
• The nuclear disc prosthesis device segment is the fastest growing segment and is poised to grow at a CAGR of 11.1% during the forecast period.
• The dynamic stabilization devices segment is expected to grow at a significant CAGR of 10.9%, owing to the use of flexible materials during dynamic stabilization procedure for restoring mobility in the spine.
• France and Germany jointly accounted for more than one-third share of the global motion preservation devices market in 2015.
• Japan was the major shareholder in the Asia-Pacific motion preservation devices market, accounting for more than one-third share in 2015.
The key players in the motion preservation devices market have focused on expanding their business operations in the fast-growing emerging countries by adopting the new product launch strategy. The major companies profiled in the report include Aurora Spine Corporation, B. Braun Melsungen AG, Depuy Synthes (Johnson & Johnson), Globus Medical, Inc., HPI Implants, Paradigm Spine, RTI Surgical, Inc., Raymedica, Inc., Spinal Kinetics, Inc., Ulrich GmbH & Co. KG, and Zimmer Biomet Holdings, Inc.
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