LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global thoracolumbar spine devices market to grow at a CAGR of almost 4% during the period 2018-2022, according to their latest report.
This market research report segments the global thoracolumbar spine devices market into the following products (implants and instrumentation and spine biologics), end-users (hospitals and ASCs), and key regions (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the growing incidence of spinal disorders as a key factor contributing to the growth of the global thoracolumbar spine devices market:
Growing incidence of spinal disorders
The growing incidence of spinal disorders such as DDD, excessive kyphosis, spinal stenosis, and vertebral fracture across the globe is driving the global thoracolumbar spine devices market. In most of these cases, surgery is the treatment option. Besides, fractures in the thoracolumbar region can be a most important cause for surgical intervention. These spinal fractures are either caused by bone insufficiency or road accidents. Bone insufficiency is caused because of underlying conditions such as tumors and osteoporosis that eventually weaken the bone and cause fractures.
Additionally, spinal disorders such as prolapsed intervertebral disc and spondylolisthesis are on the rise worldwide. The treatment includes a spinal fusion procedure. Also, lower back pain alone affects about 80% of people across the globe at some point in their lives. Such disease prevalence increases the adoption of thoracolumbar implants, instruments, and biologics for treatment.
According to a senior analyst at Technavio for orthopedics and medical devices, “The increasing number of older adults will foster the demand for healthcare. The prevalence of spinal disorders is common in the aging population. Aging causes the cartilage between the facet joints to deteriorate, which leads to several spinal disorders. This may require surgical intervention. The increase in the volume of spinal disorders will increase the volume of spinal fusion surgeries, thereby driving the growth of the market.”
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Global thoracolumbar spine devices market segmentation
In 2017, the implants and instrumentation segment dominated the market, accounting for a share of 83%. The substantial factors contributing to the growth of the segment include growing spine diseases, the growing aging population that is prone to several spine diseases, technological advances, and favorable reimbursement scenarios.
In 2017, the global thoracolumbar spine devices market was dominated by the Americas that accounted for a market share of approximately 74%. The US was the major revenue generator in the Americas.
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