Corpectomy System Market Key Players Analysis - Medtronic, Johnson & Johnson, Stryker, Suasive, Zimmer Biomet.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Corpectomy System Market- (By Product (Surgical Instruments, Devices), By Application (Cervical Corpectomy, Thoracic Corpectomy, Lumbar Corpectomy), By End-Use (Hospitals, Specialized Clinics, Ambulatory Surgical settings)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Corpectomy System Market is valued at US$ 1.21 Bn in 2022, and it is expected to reach US$ 1.90 Bn by 2031, with a CAGR of 5.28% during a forecast period of 2023-2031.

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A corpectomy is a surgical procedure designed to relieve spinal cord or nerves pressure by removing a vertebral body. Orthopedic and neurosurgeons use specialized medical devices and instruments known as corpectomy systems to carry out this procedure. These systems are crucial in addressing various spinal disorders, including degenerative disc disease, spinal tumours, and spinal trauma. The growth of the corpectomy systems market is primarily propelled by the increasing incidence of spinal cord injuries (SCIs) on a global scale. SCIs often result from the compression of spinal nerves or damage to the outer part of the vertebral column. Common causes of this compression include spinal degeneration, bone fractures, as well as abnormalities such as hematomas or herniated discs.

Additionally, the growing prevalence of spinal disorders, fractures, and injuries, coupled with the rising demand for advanced medical technologies and implants, is expected to drive market expansion in the coming years. Furthermore, the ageing population and the increasing number of individuals who are overweight or obese are contributing to the growth of the corpectomy system market. This is because these demographic trends lead to a higher incidence of vertebral column disorders, such as spinal stenosis, which necessitate spinal surgery and consequently boost market demand. Moreover, obesity is often associated with more severe lower back problems and an increased risk of recurrence, leading to a greater adoption of spinal devices during treatment. Among the most prevalent spine-related conditions affecting older individuals are degenerative disc disorders, vertebral compression fractures, spondylolisthesis, and spinal stenosis.

List of Prominent Players in the Corpectomy System Market:
• Medtronic
• Johnson & Johnson
• Stryker
• Suasive
• Zimmer Biomet
• Globus Medical, Inc.
• Jayon Implants
• Corelink, LLC.
• K2M Group Holdings, Inc.
• Normmed
• Camber Spine
• Nexxt Spine LLC
• NuVasive, Inc.'s
• Astura Medical, LLC
• Aliphatic Spine, Inc.
• Orthotic Holdings, Inc.
• ARTFX Medical.
• Globus Medical, Inc.
• RTI Surgical Holdings
• Ulrich GmbH & Co. K
• B. Braun Melungeon AG
• Sea Spine Holdings Corporation

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Market Dynamics:
Drivers-
The anticipated surge in demand for corpectomy systems is driven by the widespread occurrence of spinal cord injuries (SCIs), diseases, and fractures among the global population in the projected period. The corpectomy system market has been witnessing consistent growth, primarily attributable to the increasing incidence of spinal disorders and the ageing demographic. As individuals enjoy longer life spans, the need for spinal surgeries to add conditions like spinal stenosis and herniated discs is on the upswing. The presence of renowned market players and research and development funding from government organizations fosters technological advancements. Adoption of titanium implants and computerized navigation systems, which support clear MRI visuals and real-time images of the spinal cord, is a significant technological development reshaping the market for spinal implants and devices. These innovations expand the scope of minimally invasive procedures compared to traditional open-back surgeries.

Challenges:
Corpectomy procedures and the associated implants and devices can be expensive. This cost can be a barrier for both healthcare facilities and patients, especially in regions with limited healthcare resources or where insurance coverage is insufficient. Many patients and healthcare providers may need to be fully aware of corpectomy procedures and the available systems. This can result in delayed diagnosis & treatment, limiting the market's growth potential. The corpectomy system market is highly dependent on technological advancements. Keeping up with the new innovations can be challenging for manufacturers, and failure to do so may lead to the obsolescence of their products. Reimbursement policies for corpectomy procedures can vary by region and insurer. Consistent or adequate reimbursement can limit patient access to these procedures and impact the market positively.

Regional Trends:
The Asia Pacific corpectomy system market is expected to register a major market share. The countries in the Asia-Pacific region are known for medical tourism, attracting patients from other countries for medical procedures. This could affect the market for corpectomy systems in the region. The availability and quality of healthcare infrastructure in different countries within the Asia-Pacific region can affect the adoption of corpectomy systems. Countries with robust healthcare systems may see more extensive use of such devices.

Besides, North America had a considerable share of the market. In North America, particularly in the United States and Canada, corpectomy procedures are performed by highly trained medical professionals in well-established medical centres and hospitals. These surgeries are often part of the broader field of spine surgery and are conducted in various regions across North America, depending on the patient's needs and the expertise of the surgical team.

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Recent Developments:
• In January 2023, Companion Spine completed the acquisition of Backbone SAS. This strategic move not only broadened the scope of companies providing medical implant solutions but also introduced Backbone's flagship medical device, the LISA implant, to the market.
• In June 2021, CoreLink augmented its assortment of 3D printed vertebral body replacement systems (VBR) by introducing the F3D Corpectomy Vertebral Body Replacement System. The system featured extensive implant sizes, user-friendly instrumentation, and Mimetic Metal® technology.

Segmentation of Corpectomy System Market-
By Product-
• Surgical Instruments
• Devices
By Application-
• Cervical Corpectomy
• Thoracic Corpectomy
• Lumbar Corpectomy
By End-Use
• Hospitals
• Specialized Clinics
• Ambulatory Surgical settings
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.