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The market is segmented by Device Type (Spinal Decompression, Spinal Fusion, Fracture Repair Devices, Arthroplasty Devices and Non-fusion Devices)
The Canada Spinal Surgery Devices market was anticipated to grow with a CAGR of 4.95%, during the forecast period. The major factors attributing to the growth of the Canada spinal surgery market are advancements in technology in spinal surgery equipment, growing aging and obese populace with growing number of spinal deformities, and increasing demand for noninvasive spinal surgery procedures are key elements driving the growth of the market for Canada spinal surgery devices.
According to a research findings, in 2014 there are approximately 43,974 individuals living in Canada with the spinal stenosis condition. Spinal stenosis is the one type of spinal deformities. Spinal stenosis is projected to increase in prevalence and incidence between 2015 and 2030 attributable to the growing population. The prevalence of people with spinal stenosis is intended to be 58,000 by 2030 (increase of 32 per cent). Therefore with the evolving lifestyle in the country such figures are expected to increase further. The degenerative spinal disorders are also expected to increase, along with a likely increase in spinal problems in obese populations owing to increased obesity which will further boost the market growth during the forecast period.
The demand for spinal surgery products is a significant money-spinning sub-segment of the orthopedic market. Generally, spinal surgery has been an open procedure in which an extensive incision allows the surgeon to examine the structure of the spine.
|By Device Type|
|Fracture Repair Devices|
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Spinal fusion is estimated to have the largest market share in the device category segment of the market for spinal surgery devices and is expected to experience a healthy CAGR during the forecast period. Several products on the market offer traditional yet better treatments for patients with lumbar spinal stenosis, along with alternative advanced treatments for spinal decompression. The key market competitors manufacture complex stabilizing tools for the lumbar spine for both anterior and posterior. In fact, there are many clinical trials ongoing for further advancement. This component would likely offer multiple benefits in terms of market growth during the forecast period.
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The Canada spinal surgery devices market is competitive and consists of several players. In terms of market share, few of the major players are currently dominating the market and some prominent players are vigorously making acquisitions and joint ventures with the other companies to consolidate their market positions in the country. Some of the companies which are currently dominating the market are Zimmer Biomet, Stryker Corporation, Johnson & Johnson, Medtronic plc, and Globus Medical.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Number of Technological Advances in Spinal Surgery
4.2.2 Increasing Incidences of Obesity and Degenerative Spinal Conditions
4.3 Market Restraints
4.3.1 Expensive Treatment Procedures
4.3.2 Stringent Reimbursement Concerns
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Device Type
5.1.1 Spinal Decompression
5.1.2 Spinal Fusion
220.127.116.11 Cervical Fusion
18.104.22.168 Interbody Fusion
22.214.171.124 ThoracoLumbar Fusion
5.1.3 Fracture Repair Devices
5.1.4 Arthroplasty Devices
5.1.5 Non-fusion Devices
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Zimmer Biomet
6.1.2 Stryker Corporation
6.1.3 Johnson & Johnson
6.1.4 Medtronic plc
6.1.5 Globus Medical
6.1.6 SeaSpine Holdings Corporation
6.1.7 Orthofix Holdings Inc.
6.1.8 Nuvasive Inc.
6.1.9 Joimax GmbH
6.1.10 RTI Surgical Holdings, Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments