The North America market for Spinal Surgery is among the fastest growing globally. The North America market is expected to reach USD XX million by 2022 from USD XX million in 2016, at a CAGR of XX%. This market is a significant sub-section of the orthopedic industry. Spinal surgery is traditionally done as an open surgery, wherein a long incision allows a surgeon to access the spinal anatomy of a body.
The market for spinal surgery devices is driven by many factors. In recent years, a minimally invasive surgical device has received growing attention, as it does not involve a long incision, and thereby causes minimal damage to the muscles around the spine. This results in lesser post-operative pain and a faster recovery rate. The growing incidence of spinal disorders is also one of the factors driving this market growth. Motion-preservation techniques in spinal non-fusion procedures are predicted to be the next big thing in spinal surgeries, which have witnessed enhanced adoption rates over the last few years. Increasing technological awareness, growing population, and sedentary lifestyles are among the others driving this market.
The factors hampering the growth in this market are high costs involving the treatment of procedures and the long time duration in getting an approval for the surgery process with uncertainty in reimbursements. The patient awareness and lack of adequate physicians are among the other lesser explored factors hindering the growth of this market.
The North America market for Spinal Surgery is segmented on the basis of technology and products. The technology segment is further segmented into spinal fusion and fixation, spinal decompression, non-fusion technologies, vertebral compression fracture treatment and arthroplasty. Spinal decompression segment covers discectomy, laminotomy/laminectomy, foraminotomy/foraminectomy, facetectomy, and corpectomy procedures. Non-Fusion technologies include Dynamic Stabilization and Artificial Disc Replacement. Spinal Fusion devices sub-segment is again divided into Cervical Fusion, Interbody Fusion, Lumbar Fusion, thoracic fusion devices. Vertebral Compression Fracture Treatment devices further include Vertebroplasty and Balloon Kyphoplasty Devices. Regionally, the market is segmented into the US sharing more than 60.0% of the market share, followed by Canada and Mexico.
Some of the key players in this market include –
Globus Medical Inc., Medtronic Inc., Zimmer Biomet, Paradigm Spine LLC, Stryker Corporation, Alphatec Holdings Inc, Depuy Synthes Spine Inc, K2m Group Holdings Inc, Globus Medical Inc and Others.
Market analysis for the market, with region specific assessments and competition analysis.
Market definition along with the identification of key drivers, restraints opportunities and challenges.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with company profiles of key players with the analysis of their current strategic interests and key financial information.
Identification and analysis of the macro and micro factors that affect the North America Spinal Surgery market. Insights of the market in the regions that have the highest potential for growth and also identify the markets that are still untapped.