DUBLIN--(BUSINESS WIRE)--The "Spinal Surgery Devices And Equipment Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.
Where is the largest and fastest growing market for the spinal surgery devices and equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The global spinal surgery devices and equipment market was valued at about $8.5 billion in 2018 and is expected to grow to $9.68 billion at a CAGR of 3.3% through 2022. Major players in the market are Zimmer Biomet, Stryker Corporation, Depuy Synthes, Medtronic and Globus Medical.
Elderly people are a major driving factor for the spinal surgery devices and equipment market as they are more prone to spinal complications. Spinal disorders majorly affect the geriatric population and result in spinal deformities and pain. As per UN 2017 estimates, worldwide geriatric population will double by 2050 to reach an estimated value of more than 2.1 billion boosting market growth in the future. Increasing trend in the aged populations worldwide will provide a lucrative growth to the spinal implants and devices.
The high cost of treatment restrains the spinal surgery devices and equipment market from reaching its maximum potential growth. According to a study conducted over a year to analyze cost variations, the total cost of the surgeries at the hospitals was found to vary between $27,000 and $129,000. More than $90 billion a year is spent on treating lower back pain alone. Due to the steadily increasing cost of procedures, the rate of implementing spinal surgery devices has come down. This a major restraint for the large scale hospitals, clinics as well as new entrants for the market.
Implementing Nano-technology to improve the quality, precision and speed of the work is the latest trend in the spinal surgery devices market. Nanoparticles possess unique chemical, biological and physical properties which enables them to perform a wide variety of cellular and subcellular tasks. Spinal pathology is a major field of study for Nano-technology. To fully implement Nano-technology, hospitals and clinics are waiting for FDA regulations and exploring options to reduce costs. In 2018, Vallum Corporation, a medical device company, announced that it received clearance from the American Food and Drug Administration (FDA) for its polyetheretherketone (PEEK) spinal fusion device which has a Nano textured surface.
The spinal surgery devices and equipment market has a huge potential to grow but stringent regulation policies are restricting their growth. Currently, US Food and Drug Administration (FDA) classifies the devices into class II, this class consists primarily of devices that are intended to provide immobilization and stabilization of spinal segments. All devices under this class have to comply with the material standards, mechanical testing standards, and the biocompatibility standards. Due to stringent regulations laid by US FDA, product recalls are common and may impact the growth of this market as well. In 2018, Zimmer Biomet recalled 1,360 implantable spine fusion and long bone stimulators in the USA as they lack enough validation data and controls to satisfy that the final products were hygienic free of bacteria and chemical residue.
In 2018, the American firm Stryker Corporation acquired K2M group holdings Inc. for $1.4 Billion. The acquisition will help Stryker expand its product portfolio in complex spine and minimally invasive solutions and also expand globally. K2M group was established in 2004 and is headquartered in Leesburg, Virginia, USA.
Key Topics Covered
1. Executive Summary
2. Spinal Surgery Devices And Equipment Market Characteristics
3. Spinal Surgery Devices And Equipment Market Size And Growth
3.1. Global Spinal Surgery Devices And Equipment Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Spinal Surgery Devices And Equipment Forecast Market, 2019 - 2022F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Spinal Surgery Devices And Equipment Market Segmentation
4.1. Global Spinal Surgery Devices And Equipment Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
- Spine biologics
- Surgical spinal decompression
- Vertebral compression fracture treatment products
4.2. Global Spinal Surgery Devices And Equipment Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
- Ambulatory Service Centers
- Orthopedic Centers
5. Spinal Surgery Devices And Equipment Market Regional And Country Analysis
5.1. Global Spinal Surgery Devices And Equipment Market, Split By Region, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
5.2. Global Spinal Surgery Devices And Equipment Market, Split By Country, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
- Zimmer Biomet
- Stryker Corporation
- Depuy Synthes
- Globus Medical Inc.
- Alphatec Spine Inc.
- Nuvasive Inc.
- Orthofix International N.V.
- K2M Group Holdings Inc.
- Titan Spine
- B. Braun Medical
- Orthovita Inc.
- Amedica Corporation
- Biomet Inc.
- RTI Surgical Inc.
- Integra Lifesciences Holdings Corporation
Smith & Nephew plc
- Exactech Inc.
- Paragon Medical Inc.
- Norman Noble Inc.
- Wenzel Spine Inc.
- X-Spine Systems Inc.
- Tecomet Inc.
- Marox Corporation
- Axial Medical
- Spine Wave Inc.
- Captiva Spine LLC
For more information about this report, visit https://www.researchandmarkets.com/r/734en0