(Health-NewsWire.Net, February 12, 2018 ) The Asia Pacific Spinal Implants market size was approx. USD 2.67 billion in 2016. It is projected to grow at a CAGR of 5.8% to reach USD 3.54 billion by 2021. It captures 20% of the global market share.
Spine disorders contribute a substantial share to the healthcare costs worldwide and have wide ranging effects on the patients from mild pain and loss of feeling to extreme pain and paralysis. Deformity, tumours, trauma and degenerative conditions in the spine are the primary causes of such disorders. Degenerative disc disease (DDD) is most common among otherwise healthy people in their 30s or 40s. It is also known as slip disc and affects approximately half of the population in the 7 major markets aged 40 and older. Gradual disc damage is the cause of slip disc often resulting in disc herniation and chronic back or neck pain.
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Growing cases of spinal disorders along with the introduction of minimally invasive spine surgery techniques are the key factors for market growth. Secondary factors include technological developments in bone grafting products conjoined with growing geriatric population are contributing further towards the development of this market.
However, the stringent regulatory approval process coupled with adverse and sometimes cumbersome regulatory framework resulting in reimbursement scenario are hampering the growth of this market.
The Asia Pacific Spinal Implants market can be categorized into three categories: by technology, by product, and by type of surgery. On the basis of technology, Spinal Implants market is classified into Spinal Fusion and Fixation Technologies, Vertebral Compression Fracture Treatment, Motion Preservation/Non-Fusion Technologies and Spinal Decompression. The motion preservation/non-fusion category is estimated to grow at the highest CAGR in the coming years, because of the rising demand for minimally invasive surgical procedures among patients and development of technologically advanced non-fusion devices. If we go by product, Spinal Implants market is segmented into Thoracic Fusion and Lumbar Fusion Devices. It is further sub-segmented into Posterior Thoracic Fusion and Lumbar Fusion Devices, Interbody Thoracic Fusion and Lumbar Fusion Devices, Cervical Fusion Devices, Spine Biologics, Vcf Treatment Devices, Spinal Decompression, Non-Fusion Devices, and Spine Bone Stimulators.
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Interbody Thoracic Fusion and Lumbar Fusion Devices has been further segmented into By Approach (Anterior Lumbar Interbody Fusion Devices, Posterior Lumbar Interbody Fusion Devices, Transforaminal Lumbar Interbody Fusion Devices and Axial Lumbar Interbody Fusion Devices), By Material (Non-Bone Interbody Fusion Devices and Bone Interbody Fusion Devices) and Anterior Thoracic Fusion and Lumbar Fusion Devices. Cervical Fusion Devices is further classified into Anterior Cervical Fusion (Anterior Cervical Plates, Cervical Interbody Fusion Devices and Anterior Cervical Screw Systems) and Posterior Cervical Fusion (Posterior Cervical Plates, Posterior Cervical Screws and Posterior Cervical Rods).
Spine Biologics is further categorized into Demineralized Bone Matrix, Bone Morphogenetic Proteins, Bone Substitutes, Machined Bones, Cell-Based Matrices and Allografts. Vcf Treatment Devices is further segmented into Balloon Kyphoplasty Devices and Vertebroplasty Devices. Spinal Decompression is further divided into Discectomy, Laminoplasty, Laminectomy, and Laminotomy, Foraminotomy and Foraminectomy, Facetectomy and Corpectomy.
Non-Fusion Devices are further classified into Dynamic Stabilization Devices (Interspinous Process Spacers, Pedicle-Based Dynamic Rod Devices and Facet Replacement Products), Artificial Discs (Artificial Cervical Discs and Artificial Lumbar Discs), Annulus Repair Devices and Nuclear Disc Prostheses. Spine Bone Stimulators are further segmented into Non-Invasive Spine Bone Stimulators (Pulsed Electromagnetic Field Devices and Cc and Cmf Devices) and Invasive Spine Bone Stimulators. Last but not the least, on the basis of type of surgery the market is segmented into Open Surgeries, and Minimally Invasive Surgeries.
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By geography, the Asia Pacific Spinal Implants market has been categorized into India, China, Korea, Japan and others. It is the third in terms of market share which closely resembles that of Europe. China is the leading market in this region. Rise in disposable incomes which is reflected by rising expenditures in emerging economies along with better healthcare infrastructures are the causes attributable to the observable trend mentioned above.
Major companies in the Spinal Implants market are Medtronic, plc (Ireland), DePuy Synthes (U.S.), Stryker Corporation (U.S.), NuVasive, Inc. (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Globus Medical, Inc. (U.S.), Alphatec Holdings, Inc. (U.S.), Orthofix International N.V. (Netherlands), K2M Group Holdings, Inc. (U.S.), and RTI Surgical, Inc. (U.S.).
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