Global thoracolumbar spine devices market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Thoracolumbar spine devices are the equipment used in spinal stabilization in pathologies like degenerative spinal disc disease.
The factors that are playing a major role in the growth of the market are increasing spinal disorders like spinal stenosis, vertebral fracture, and degenerative disc disease, sedentary lifestyle, rising use of enhanced technology in R&D for the innovation of products, and government initiative by providing affordable pricing policy. Thoracolumbar spine devices market is segmented based on product type, device type, surgery, materials, procedure type, end-user, and region.
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Spine biologics, implants & instrumentation, and other product types could be explored in thoracolumbar spine devices in the forecast period. The implants & instrumentation sector accounted for the substantial market share of thoracolumbar spine devices and is estimated to lead the overall market in the years to come. The reason could be the growing occurrence of spine related diseases, the growing aging population, favorable reimbursement policies, and the use of enhanced technology.
Posterior stabilization device, retractors, anterior stabilization device, and other device types could be explored in thoracolumbar spine devices in the forecast period. Based on surgery, minimally invasive surgery (MIS), open surgery, and others could classify thoracolumbar spine devices in the forecast period. The minimally invasive surgery (MIS) sector accounted for the substantial market share of thoracolumbar spine devices and is estimated to lead the overall market in the years to come. The reason could be short hospital stay and fast recovery. Stainless steel, titanium, and the other materials could be explored in thoracolumbar spine devices in the forecast period. Corpectomy, discectomy, facetectomy, laminotomy, foraminotomy, and other procedure types could be explored in thoracolumbar spine devices in the forecast period.
The market may be categorized based on end-users like ambulatory surgical centers (ASCs), specialty clinics, hospitals, and others that could be explored in thoracolumbar spine devices in the forecast period. The hospital sector accounted for the substantial market share of thoracolumbar spine devices and is estimated to lead the overall market in the years to come. The reason could be the high flow of patients and the positive influence of spine surgeries on thoracolumbar stabilization devices. In addition, ASCs sector is estimated to grow at the fastest pace in the years to come.
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Globally, North America accounted for a substantial market share of thoracolumbar spine devices and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the developed healthcare infrastructure and the presence of key manufacturers. The United States is a major consumer of thoracolumbar spine devices in this region.
Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The aspects that may be ascribed to the growth comprise the presence of a large patient pool, developing healthcare infrastructure, and growing awareness among populace regarding spine disorders. The developing countries like India and China are the major consumers of thoracolumbar spine devices in this region.
The key players of the thoracolumbar spine devices market are Zimmer Biomet, DePuy Synthes, Stryker, Globus Medical, NuVasive, and Medtronic. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
Market Segment:
The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA
Global Thoracolumbar Spine Devices Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
• DePuy Synthes
• Globus Medical
• Medtronic
• NuVasive
• Stryker
• Zimmer Biomet
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