Technavio, a tech-focused market research firm, has published a new report on the global spinal trauma market, which is expected to grow at a CAGR of more than 3% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global spinal trauma devices market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Top three contributors for the global spinal trauma devices market are elaborated below:
Spinal trauma devices market in Americas: The spinal trauma devices market in the Americas was led primarily by the US during 2016. As most of the people aged 60 and above are susceptible to spinal disorders, a rise in their population will increase the volume of spinal surgeries being performed. A large number of healthcare facilities are adopting spinal fusion and non-fusion procedures, which are mostly performed in ASCs and clinics. Such developments are likely to reflect positively on the growth of the spinal trauma devices market over the next four years.
According to Barath Palada, a lead analyst at Technavio, specializing in research on orthopedics and general medical devices, “Vendors are using advanced technologies to develop innovative products, which are superior to traditional devices. They are forming partnerships and collaborations with government hospitals, and military and army to extend their product portfolio. The vendors are also investing in clinical trials to prove their implants’ safety and efficacy profiles and increase their market shares.”
Spinal trauma devices market in EMEA: A rise in the population will increase the incidence of spinal disorders in the region, leading to an upsurge in the demand for spinal trauma devices. Countries such as France, Italy, and the UK are leading in the sales of spinal trauma devices due to the presence of a higher percentage of the geriatric population and availability of an advanced healthcare systems. Europe represents the largest market for spinal trauma devices in EMEA. Furthermore, the use of spinal trauma devices in Western European countries is increasing due to the rise in the volume of MI spinal surgeries being performed, particularly in Germany and the UK, which will facilitate market growth.
Spinal trauma devices market in APAC: Due to the increase in the incidents of trauma accidents, spinal infections, and lesser cost of treatment procedures, the need for spinal trauma devices is experiencing a steady rise. Countries such as India, China, and Singapore offer spinal surgeries at a lower cost compared with developed countries, making them suitable for medical tourism.
The leading vendors operating in the global spinal trauma devices market are:
- DePuy Synthes
- Globus Medical
- Medtronic
- Stryker
Other prominent vendors in the market include Arthrex, B. Braun Melsungen AG, NuVasive, ReWalk Robotics, Spinal Technology, and Zimmer Biomet.
A more detailed analysis is available in the Technavio report titled, ‘Global Spinal Trauma Devices Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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- Dental Diagnostic and Surgical Equipment Market in China 2017-2021
- Global Orthopedic Bracing and Support Systems Market 2017-2021
- Global Bone Cement Market 2017-2021
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