DUBLIN, November 1, 2017 /PRNewswire/ —
The “Global Spine Orthopaedic Devices Market: Drivers, Restraints, Opportunities; Trends and Opportunities to 2023”report has been added to Research and Markets’ offering.
The “Global Spine Orthopedic Devices Market” is Estimated to Witness a CAGR of 6.23% During 2017-2023
The market is dominated by the Spine Implants segment with the presence of advanced fusion and non-fusion procedures performed with orthobiologics and the availability of clinical data regarding the safety and efficacy of the devices. This enables surgeons to adopt devices for treatment of various spine-related disorders as these surgeries contribute 60% of the total orthopedic procedures.
Therefore, opportunities for growth in the emerging countries of LATAM and APAC remain vast. The increasing adoption of MI surgeries in treating orthopedic disorders, particularly in the elderly, and the growing availability of devices in the market also contribute to the growth of the market.
Europe accounted for the second largest market with chronic pain being one of the major complications with the rising burden of spine chronic cases (lower back). In 2015, the public spending on healthcare in Europe amounted to 18% of the overall government expenditure. The expenditure on chronic pain care with orthopedic devices is directly reimbursed to hospitals within the NHS. Clinical evidence of spine orthopedic devices compared to other treatments, such as drug therapy, are expected to increase during the forecast period.
Factors, such as high prevalence of orthopedic diseases, presence of large pool of patients, and rise in awareness about treatment for complex orthopedic disorders, drive the market growth in the emerging economies, especially APAC. Further, the increase in government spending in healthcare, infrastructure, research centers, and establishing of manufacturing facilities by major vendors in the market are influencing the high growth of the market.
Market Dynamics
Drivers
- Rise in the prevalence of spinal disorders
- Growing popularity of minimally invasive surgeries
- Rise in elderly population
- Increase in number of outpatient procedure
Opportunities
- Adoption of spinal navigation technology
- Increase usage of orthopedic biomaterials in spine surgery
- Increase healthcare spending
- Increase in mergers & acquisitions
Restraints
- High cost of spine surgery procedures
- Complications and risk associated with spine surgeries
- Stringent regulatory framework and labeling requirement
- Poor reimbursement policies
- Intense competition among vendors
Key Topics Covered:
1 Industry Outlook
2 Report Outline
3 Market Snapshot
4 Market Outlook
5 Market Characteristics
6 Types: Market Size and Analysis
7 End User: Market Size and Analysis
8 Regions: Market Size and Analysis
9 Competitive Landscape
10 Vendor Profiles
11 Companies to Watch For
12 Other Prominent Vendors
Companies Mentioned
- Alphatec Spine
- Johnson & Johnson (DePuy Synthes, Inc)
- K2M
- Medtronic PLC
- NuVasive, Inc.
- OMNIlife Science
- Orthofix International N.V.
- SeaSpine Holdings Corp.
- Stryker Corp.
- Zimmer Biomet Holdings, Inc
For more information about this report visit https://www.researchandmarkets.com/research/6vvbbw/global_spine
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