Spine disorders hit a good number of population, either through degrading health conditions or traumatic events. Spinal stabilization devices are designed to provide support and stabilization to patients with a severe spinal condition. Degenerative disc disease, herniated disc, spinal stenosis are few examples of spinal disorders having a high incidence rate on a global level. Spinal stabilization devices are generally used for patients with the chronic spinal condition and specific conservative procedures are done for mild-to-moderate spinal conditions. Still, the target population is rising, with age, lifestyle condition and many other parallel conditions which leads to lads to a spinal disorder. A large portion of spinal surgeries involve spinal fusion and this practice is seen across regions where doctors tend to follow this routine. Spinal stabilization devices on other hand have received no FDA approval, although FDA has specified off label marketing for spinal stabilization devices. FDA has provided clearance for the use of spine stabilization devices in different sections of spinal fusion.
The global spinal stabilization devices market is expected to see quality growth in the near future, due to an increase in use and entry of new product launches. The cost of such spinal implant treatment is high, and with a change in demographics and economic conditions, the present treatment with spinal stabilization devices is not an affordable treatment option for greater number of a prevalent population with spinal disorders. There are other alternatives for spinal stabilization devices for spinal disorders like artificial discs, annulus repair, spinal fusion instrumentation, and vertebral compression fracture treatment products. The type of disorder directs the type of device used for treatment, therefore, leaving spinal stabilization devices as mere optional products in entire spinal implants. Such factors limit the market for spinal stabilization devices and potential of spine concerned cases remain undiagnosed in many poor socio-economic countries. There are things that require attention for the growth of this spinal stabilization devices market, as cost reductions for such device and positive reimbursements scenarios would lead to a better network for this market.
The global market for spinal stabilization devices is segmented on the basis of:
Spinal Stabilization Devices Market: Segment by Product Type
Spinal Stabilization Devices Market: Segment by Application
Spinal Stabilization Devices Market: Segment by End User
The global Spinal Stabilization Devices market is segmented by product type, end user, application and geography. Based on product type, the global spinal stabilization devices market is segmented into interspinous process decompression devices and pedicle screw-based posterior dynamic stabilization devices. Where Pedicle Screw-Based Posterior Dynamic Stabilization Devices come in three major differentiable forms, nonmetallic devices, metallic devices, and hybrid devices. Based on end users, the spinal stabilization devices market is segmented into hospitals, ASCs, and specialty clinics. The hospital segment is the highest gaining segment, due to the number of spinal disorder patients registered in these institutions and the type of infrastructure present for spinal stabilization.
On the basis of regional presence, the global spinal stabilization devices market is segmented into six key regions, viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, and Middle East & Africa. North America leads the spinal stabilization devices market due to the presence of leading manufacturers in the region. Manufacturers are targeting developed markets due to the high healthcare expenditure in those regions, technologies as advanced as spinal stabilization devices require prime healthcare spending and positive infrastructure support. Western Europe is the second leading market for spinal stabilization devices, due to support from government funding that reaches the poor section of society with the actual need for such techniques. The Asia Pacific holds a number of developing regions which are increasing their spending on healthcare, supports the drive for the market growth of the spinal stabilization devices market during the forecast period. Globally, the market for overall spinal procedures is observing a decline as compared to other implant based procedures, it is also showing a stagnant growth to the products market used in such treatments.
Some of the major players in the spinal stabilization devices market includes Globus Medical, Inc., Bio-Spine Corp, Ulrich GmbH & Co, Johnson & Johnson, Zimmer Biomet, Medtronic plc, Paradigm Spine LLC, and many others.
The report covers an exhaustive analysis on:
Regional analysis includes: