United States- Report Ocean published a new report on the Spinal Implants and Devices Market. The study includes an in-depth analysis of regional trends and market growth in North America, Europe, Asia-Pacific, and Middle East Africa. This study report also examines the challenges that are negatively impacting the industry’s growth and outlines a strategy adopted by companies during 2022 to 2030.
The global spinal implants and devices market was worth $9,741 million in 2015, and is estimated to reach $13,384 million by 2022, growing at a CAGR of 4.6% during the study period. Spinal implants and devices are used to treat spinal deformities such as spinal stenosis and isthmic spondylolisthesis. Increase in geriatric population, rise in adoption of minimal invasive surgery techniques, and upsurge in incidence rate of spinal disorders are expected to drive the market growth.
Moreover, technological advancements in spinal fusion implants fuel this growth. However, unfavorable reimbursement scenario and stringent regulatory approval procedures are expected to impede the market growth.
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The file offers market sizing and forecast throughout 5 primary currencies – USD, EUR GBP, JPY, and AUD. It helps corporation leaders make higher choices when foreign money change records are available with ease. In this report, the years 2020 and 2021 are regarded as historic years, 2020 as the base year, 2021 as the estimated year, and years from 2022 to 2030 are viewed as the forecast period.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
Spinal stenosis is the most common problem in men and women over 50 years of age. With age, changes occur in the structure of the spine, such as the band of the tissue that supports the spine gets thick, bones and joints get bigger, thus leading to the most common cause of spinal impairment. According to Eurostat, on January 1, 2015, the European Union (EU)-28 population was estimated to be 508.5 million of which older persons (aged 65 years or over) had an 18.9% share, reflecting an increase of 0.4% compared to the previous year. Therefore, increase in geriatric population is expected to impact the demand for spinal implant and devices for the treatment of spinal disorders.
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The study provides an in-depth analysis of the global spinal implants and devices market, with current trends and future estimations, to elucidate the imminent investment pockets.
Quantitative analysis from 2014 to 2022 is expected to enable the stakeholders to capitalize on prevailing market opportunities.
The report provides actual historical figures for 2014 and Y-o-Y forecasts from 2016 to 2022, considering 2015 as base.
Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities.
Extensive analysis is conducted by closely following key product positioning and monitoring the top contenders within the market framework.
SPINAL IMPLANTS AND DEVICES MARKET KEY SEGMENTS
The global spinal implants and devices market is segmented based on product, surgery type, and geography.
Non-Fusion Devices/Motion Preservation Devices
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Vertebral Compression Fracture (VCF) Treatment Devices
Capacitive Coupling(CC) and Combined (Electro) Magnetic Field (CMF) Devices
Invasive Spine Bone Stimulators Spine Biologics
The key companies operating in the spinal implants and devices market are Alphatec Spine, Inc., B. Braun Melsungen AG, Depuy Synthes (Johnson & Johnson), Exactech, Inc., Globus Medical, Inc., Medtronic plc, NuVasive, Inc., Orthofix International N.V., Stryker Corporation, and Zimmer Biomet Holdings, Inc.
The other players operating in the market include Paragon Medical, Inc., Norman Noble, Inc., Nutech, Titan Spine, Wenzel Spine, Inc., X?spine Systems, Inc., Tecomet, Inc., Marox Corporation, Axial Medical, Spine Wave, Inc., K2M, Inc., and Captiva Spine, LLC.
Key Questions Answered in the Market Report
• How did the COVID-19 pandemic impact the adoption of by various pharmaceutical and life sciences companies? • What is the outlook for the impact market during the forecast period 2021-2030? • What are the key trends influencing the impact market? How will they influence the market in short-, mid-, and long-term duration? • What is the end user perception toward? • How is the patent landscape for pharmaceutical quality? Which country/cluster witnessed the highest patent filing from January 2014-June 2021? • What are the key factors impacting the impact market? What will be their impact in short-, mid-, and long-term duration? • What are the key opportunities areas in the impact market? What is their potential in short-, mid-, and long-term duration? • What are the key strategies adopted by companies in the impact market? • What are the key application areas of the impact market? Which application is expected to hold the highest growth potential during the forecast period 2021-2030? • What is the preferred deployment model for the impact? What is the growth potential of various deployment models present in the market? • Who are the key end users of pharmaceutical quality? What is their respective share in the impact market? • Which regional market is expected to hold the highest growth potential in the impact market during the forecast period 2021-2030? • Which are the key players in the impact market?
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