Growing rates of spinal injuries such as degenerative disc disease or deformity have propelled the rise in investments in research activities by industrial players for the treatment and stabilization of the thoracolumbar spine. According to spinal cord.com, around 2,45,000 to 3,53,000 Americans were projected to live with spinal cord injuries in 2017. Traditional open surgeries require a prolonged hospital stay and are extensively painful. The need for new minimally invasive technology is increasing among healthcare providers and patients. Simplifying spinal surgeries is on the rise, thus contributing to the overall growth of the thoracolumbar spine devices market.
The FDA granted 510(k) clearance for the PEEK-OPTIMA HA enhanced vertebral body replacement system on December 7, 2017. Using spacers and endplates, the device allows for fine height and lordosis adjustments. It also consists of a hollow center and holes to accommodate an autograft and encourage the growth of new bone. On October 25, 2017, Zimmer Biomet Holdings, Inc. launched Vitality+ and Vital Spinal Fixation Systems in the United States. The Vital Spinal Fixation System offers a compact solution for degenerative thoracolumbar procedures. The advent of such new technologies and continuous research initiatives ensures lucrativeness throughout the period from 2018 to 2026.
Implant devices are expected to contribute significantly to the overall market owing to their lower side effects, improved quality of life, and high preference for the geriatric population, which is prone to spinal diseases. However, highly-priced devices and procedures, the requirement of skilled healthcare professionals, and the lack of structured reimbursement policies in low and middle-income economies would hamper the geographic expansion of the thoracolumbar spinal devices market and negatively affect the overall market growth.
The global thoracolumbar spine devices market is segmented as follows:
By Product Type
Vertebral Body Replacement System
MACS TL/MACS II system
Spinal System
Spondylolisthesis Reduction Instrumentation (SRI)
Fracture Reduction Instrumentation (FRI)
Bone Transforaminal, Anterior, and Posterior Lumbar Interbody Fusion
Standalone Interbody Device (SIBD) Spinal System
Micro Lumbar Discectomy (MLD) Retractor System
CASPAR Lumbar Retractor (CLR) System
Others (Artificial Disc, Retractor System, etc.)
By Geography
North America
U.S.
Canada
Europe
Germany
France
Italy
U.K.
Russia
Rest of Europe
Asia-Pacific
India
China
Japan
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC Countries
South Africa
Rest of Middle East and Africa
The thoracolumbar spinal devices market comprises a competitive pool with various market leaders enjoying supremacy. Partnerships and acquisitions render the market competitive and challenge the entry of new emerging market players. On September 7, 2017, NuVasive, Inc. acquired Vetera Spine. The acquisition reflected NuVasive’s commitment to expanding its product portfolio and marked its position as a leader in spinal devices. Other key industrial players enjoying a dominant position in this market are Aesculap Implant Systems, LLC, B. Braun Melsungen AG, DePuy Synthes, Inc., Globus Medical, Inc., Invibo Ltd., Medtronic Plc., Stryker Corp., and Zimmer Biomet Holdings, Inc.
This report offers the following:
An overview of the global thoracolumbar spine devices market
Market trends and extensive analysis are provided for the forecast period from 2018 to 2026, along with historical data for 2016 and considering 2017 as the base year.
Market evaluation pertaining to each segment
Qualitative information with respect to market drivers, opportunities, and restraints
Detailed information on the existing thoracolumbar spine device manufacturers
A complete understanding of the competitive landscape and profiles of key market players
Frequently Asked Question:
The market for Thoracolumbar Spine Devices Market is expected to reach USD$ 207.2 Mn in 2026.
The Thoracolumbar Spine Devices Market is expected to see significant CAGR growth over the coming years, at 6.0%.
The report is forecasted from 2018 -2026.
The base year of this report is 2017.
Implant Systems, LLC, B. Braun Melsungen AG, DePuy Synthes, Inc., Globus Medical, Inc., Invibo Ltd., Medtronic Plc., Stryker Corp., and Zimmer Biomet Holdings. are some of the major players in the global market.
