Spinal Implants and Spinal Devices Market report studies the spinal implants and spinal devices market over the forecast period of 2015 to 2020. The market is expected to reach USD 15.73 Billion by 2020, growing at a CAGR of 5.6% from 2015 to 2020.
The growth of the global spinal implants and spinal devices market is driven by factors such as technological advancements in spine surgery devices, growing demand for minimally invasive spine surgeries, and increasing aging and obese population with increasing number of spine deformities. In addition, emerging Asian and Latin American nations and growing number of hospitals and surgical centers are offering new growth opportunities for the spinal implants and spinal device manufacturers. Nonetheless, the stringent product approval process, high cost of treatment procedures, uncertainty in reimbursement, and lack of adequate physician and patient awareness/education are the key reasons hampering the growth of the spinal implants and spinal devices market.
Browse 87 market data table & 83 figure spread through 216 page and in-depth TOC on "Spinal Implants and Spinal Devices Market" http://www.rnrmarketresearch.com/spine-surgery-devices-market-forecasts-to-2017-fusion-non-fusion-artificial-discs-nucleus-replacement-spinal-decompression-vertebral-compression-fractures-treatment-kyphoplasty-spine-stimula-market-report.html .
The report also covers the spinal decompression devices market; it has been further classified into five segments on the basis of type of procedure, namely, discectomy, laminotomy/laminectomy, foraminotomy/foraminectomy, facetectomy, and corpectomy. The spinal fusion and fixation technology segment is estimated to account for the largest share of the global spinal implants and spinal devices market in 2015. Spinal implants and spinal devices market has been segmented on the basis of technology(covering spinal fusion and fixation, motion preservation/non-fusion, and spinal vertebral compression fracture treatment technologies), product (including thoracic fusion & lumbar fusion, cervical fusion, spine biologics, vertebral compression fracture treatment, spine bone stimulators, and non-fusion treatment devices), type of surgery (open and minimally invasive), and region (North America, Europe, Asia-Pacific, and the Rest of the World). However, the motion preservation/non-fusion technology segment is expected to grow at the highest CAGR during the forecast period. The large market share of the North American region is attributed to the increased awareness about the newly developed treatment technologies and the well-established healthcare infrastructure and reimbursement system in this region.
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Factors such as advantages of non-fusion surgeries over conventional spine surgeries and increasing launches of technologically advanced non-fusion spine devices are driving the growth of this market segment. Global spinal implants and spinal devices market was dominated by Medtronic plc (U.S.) and DePuy Synthes (U.S.). North America is estimated to command the largest share of 64.9% of the global spinal implants and spinal devices market in 2015, followed by Europe.
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