Rising incidences of spinal disorder such as degenerative disc disease or deformity are the primary factor driving the growth of spinal thoracolumbar implants market. Technological development and availability of cost effective spinal surgical devices are leads to the robust growth of spinal thoracolumbar implants market. Rise in geriatric population and increasing the demand for minimally invasive surgery are also responsible for the robust growth of spinal thoracolumbar implants market. Besides that, stringent regulatory guidelines for the approval of medical devices and lack of reimbursement scenario for spinal implant will restraints the growth of spinal thoracolumbar implants market. On other hands, a high procedural cost for spinal implant and high risk of failure of surgical procedure will also hamper the growth of spinal thoracolumbar implants market.
Spinal Thoracolumbar Implants Market: Overview
The spinal thoracolumbar implants market is expected to show significant growth over the forecast period owing to rising prevalence of spinal disorder and fracture. According to a survey, 20% of thoracolumbar fractures are seen in association with other skeletal injuries. According to WHO, every year 250,000 to 500,000 people suffer from spinal cord injuries. The spinal thoracolumbar implants market is segmented on the basis of product type, surgery type, and end user. Based on product type spinal thoracolumbar implants market is classified as anterior thoracolumbar, posterior thoracolumbar, lumbar interbody solution, and lumbar instrumentation. Based on surgery type spinal thoracolumbar implants market is classified as open surgery and minimally invasive surgery. On the basis of end user spinal thoracolumbar implants market is classified as hospital, ambulatory surgical center, specialized orthopedic centers. Among end user hospital segment is expected to gain maximum market share over the forecast period.
Spinal Thoracolumbar Implants Market: Regional Overview
Based on the geographic region spinal thoracolumbar implants market is classified into seven key regions, North, America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, Middle East and Africa. North America is expected to dominate the spinal thoracolumbar implants market over the forecast period due to high incidences of spinal injuries. After North America, this market is then followed by Western Europe and APEJ. Western Europe is expected to show robust growth for spinal thoracolumbar implants market due to high healthcare infrastructure. In APEJ region, China and India are major markets for spinal thoracolumbar implants anticipated to rising geriatric population in this region.
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Spinal Thoracolumbar Implants Market: Key Players
Examples of some of the market participants in spinal thoracolumbar implants market identified across the value chain include Medtronic PLC, DePuy Synthes, Stryker Corporation, Zimmer Biomet Holdings, Inc., Alphatec Holdings, Globus Medical Inc., RTI Surgical Inc., K2M Group Holdings Inc., Orthofix International N.V. are some of the other key players in this market.