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(IT-NEWSWIRE.COM, February 19, 2018 ) A latest research report titled as “Spine Surgery Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025” has been recently added to the vast portfolio of Market Research Reports Search Engine (MRRSE) online research offerings. This report is a professional and in-depth analysis on the present state and future prospect for the global market. It provides valuable information to the industry insiders, potential entrants or investors. It includes an exhaustive enquiry with the reliability of logic and the comprehensiveness of contents.
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Spine surgery is a procedure or a treatment option applied to the patients who struggled with back pain for any length of time. The alternative surgery options are also applicable for the spine surgeries such as non-surgical treatments, which is also known as non-surgical or conservative therapies. The rise in number of spine surgery, increase in geriatric population with spine degeneration cases, growing incidences of accidents among young generation is likely to drive the spine surgery products market. Physician recommendation for spine surgery and new technological innovation by different key players can also accelerate the growth in spine surgery products market. Risk of infection due to grafts and implants can increase some serious complications such as spine disorders, and high cost of procedures with limited reimbursement can restrain the market growth.
Fusion Product Segment to Remain Fast Growing through Forecast Period
Based on product type, the spine surgery product market is segmented as fusion products and non-fusion products, which is further sub-classified into motion preservation, spine stimulators, and vertebral compression fracture (VCF) devices. The fusion product segment dominated the global spine surgery product market accounting for the highest share in 2016 as these products are mostly utilized during the open surgery of spine. The spine biologics segment of fusion product is also expected to register the fastest growth rate during the forecast period due to expanding R&D sectors in company for development of new spine biologics which can be used for preventing any infection after the spine surgery. Non fusion product segment is projected to grow with a moderate CAGR between 2017 and 2025 due to rise in preference for minimal invasive surgery procedure. Surgery side effects and regulatory scenario are attributed to the low market share of the segment. Moreover, the preference for spinal stimulators for spine disorder treatment is projected to fuel the growth of the non-fusion product segment. Increase in the incidence of joint disorders and vertebral abnormalities among geriatric population, and rise in complication rates for both vertebroplasty and vertebral augmentation procedures are likely to propel the growth rate of the segment moderately during the forecast period.
Spine surgery product are used by various physicians & patients through different end user including hospitals, ambulatory surgical centers and others. The hospitals held the largest market share in 2016 owing to increasing incidence of spine surgery. Hospitals are major end user of for the occurrence of spine surgery. The ambulatory surgical centers segment is projected to grow at the fastest CAGR within the end user segment. The major factor driving the ambulatory surgical centers segment is that short duration hospital stay, quality of procedure and care, emerging minimal invasive surgery procedures and devices. Furthermore, continuous rise in the awareness program about spine disorders and stenosis are also expected to boost the growth of Ambulatory surgical centers segment during the forecast period from 2017 to 2025. Based on the application segment, vertebral fracture repair segment is expected to have higher market share by 2025 in compare to spinal fusion. The major factors which fuels the vertebral fracture repair segment is that increase in number of spine surgeries due to number of incidence of vertebral fractures, spondylitis, motor vehicle collisions, etc. However, development of new spine systems and their increasing use during MIS is likely to restrain the segment growth in the near future. The spinal fusion segment is likely to grow with higher CAGR between 2017 and 2025 due to rise in spinal disorders such as spine tumors, disc degenerative problems, scoliosis, fractures, etc.
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North America Dominates Global Market Exhibiting High Adoption of Technologically Advanced Treatment Platforms
The global spine surgery product market has been segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa., which are further categorized into various countries under each region. North America dominated the global spine surgery product market in 2016 due to factors such as technologically advanced research and treatment platforms for diagnosis of spine disorders, presence of a large number of reimbursement policies, rise in Canadian healthcare infrastructure, and increase in minimally invasive surgery (MIS) in adolescent idiopathic scoliosis (AIS) in North America. According to Spinalnews international, 2017, Camber Spine announced the clearance of Spira-C Open Matrix cervical interbody device by the US Food and Drug Administration (FDA). Spira-C is Camber Spine’s second implant in the Spira line to be approved for the U.S. market which is likely to drive the growth of the spine surgery product market. However, Europe is projected to second highest growth rate over the forecast period. The rationale behind such high growth has been attributed due to increase in number of spinal surgeries (occurring due to chronic diseases and other infections), the growing insurance coverage, and reimbursements offered for traditional or open surgery procedures. However, failure in clinical trials of spine products increases the time period of market approval of product which is projected to restrain the market.
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