Global Spine Orthopaedic Devices Market: Drivers, Restraints, Opportunities; Trends and Opportunities to 2023


The spine orthopaedic devices market consist of implants and instruments that are used for treating disorders of the spine column. The spine implants segment is leading the global orthopaedic devices market and accounted 31% of the total share in 2016. The increase in incidence rate of spine disorders such as spondylolisthesis, disc related issues, and spinal stenosis are driving the market growth. Most of the spine implants are used to correct the deformities of the spine by stabilizing and strengthening the spine. These implants are composed of metals such as titanium alloy, stainless steel, and bio-absorbable materials.

The spine orthopedic devices market is segmented into two types: Spinal Fusion Implants and Spine Non-Fusion Implants. The development in spine orthopaedic devices segments has gain huge importance in developing advanced implants with innovative orthobiologics (biomaterials). Most of the companies are adapting new technologies and have a strong focus on the bundled Medicare payments for spine implants procedures. Further, companies also deal with post-surgical therapy of patients which along with surgery procedures demand various spine orthopaedic products, resulting in huge market opportunity worldwide. The factors driving the market are the incidence of orthopaedic disorders, growing ageing population, rise in number of road accidents, and rise in number of obesity cases.

As the older population is prone to frequent bone and joint issues, the number of cases are high in developed countries. Orthopaedic devices are used to treat many of bone related diseases. Further, the advances in technologies and adoption of spine implants has led to high penetration of devices in both developed and developing countries. In addition, the growing adoption of robotic-assisted surgeries and awareness about its benefits has led to a rise in the number of people opting for this method of treatment.

While all surgical procedures carry risk, such as danger associated with orthopaedic surgeries remains one of the major challenges in the market. Risks such as infection, blood vessel damage, reaction to anaesthesia, nerve damage or neuroparalysis, bleeding, allergic reaction, blood clots, implant failure, new pain after surgery, excessive bone growth or bone loss, lack of full range of motion, and scar formation are some of the commonly reported complications post-surgery. Fear of these complications prevents many people from opting for these surgeries. Therefore, this will hinder the market growth.

The spine orthopedic devices market in the North America is growing at a significant rate due to increasing healthcare expenditure and rising prevalence of brain tumour in the region. Moreover, initiatives taken by various government associations are helping to spread awareness about advanced spine orthopaedic products in the Americas. In Europe, increasing aging population, high healthcare expenditure, and increasing awareness about spine related conditions are driving the growth of the spine orthopaedic devices market. With increasing number of spine procedures, demand for spine fusion and non-fusion surgeries is also poised to rise during the forecast period. Growth of the spine implants in the APAC region is primarily driven by the increasing geriatric population, increasing healthcare expenditure, and growing awareness of the various spine related orthopaedic condition in the developing countries. The Global Spine Orthopaedic Devices market is dominated by many big players, such as Stryker Corp., Medtronic Inc., Johnson & Johnson, NuVasive and Zimmer Biomet and many others.

The Global Spine Orthopaedic Devices market report provides the complete details of various market trends and spine related applications and adoption rate in various surgical treatment and across the regions. The major trends, drivers, restraints, and opportunities in each segment are also covered. This study will help stakeholders to understand the current and future market outlook to focus/expand/invest in the spine orthopaedic devices market.

This report also provides the competitive landscape of the leading players in Global Spine Orthopaedic Devices market and this study will help the vendors to understand about their competitor’s landscape. The report can also be tailored as per the specific info required by the users. The customization of the report is available based on countries, vendor profiles, enterprise and vertical wise.

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methodology

Market related information is congregated from both secondary and primary sources. Secondary sources include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.

Primary sources involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.

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