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A recent report published by Infinium Global Research on spine surgery products market provides an in-depth analysis of segments and sub-segments in global as well as regional spine surgery products market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional spine surgery products market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global spine surgery products market. According to the report the global spine surgery products market is projected to grow at a CAGR of 5% over the forecast period of 2018-2024.
Spine surgery is the fastest growing surgical technique that has involved in the orthopedic and neurology industries. The traditional way of treating spine procedures was usually open surgery. Minimally invasive spine surgery (MISS) is a highly precise procedure requires for reducing blood loss during surgery and also recovery time for the patient. The product such as fusion products and non-fusion products are used in the spine surgery that includes cervical fusion, minimally invasive surgical (MIS) devices and, spine stimulators.
Back pain is the most common health problem that occurs among a large number of people globally. The factors such as continuously sitting for long hours and unhealthy working habits are some of the common causes of back pain. When all back pain treatment medications fail, the doctor recommended spine surgery to treat severe and prolonged back pain condition. Minimally invasive spine surgery uses advanced technology and innovative technologies for the treatment of back pain caused by spinal disorders and injuries. This surgery is used to stabilize the vertebral bones and spinal joints and relieve the pressure being applied to the spinal nerves. The factors such as rising demand for minimally invasive spine surgery and increase in geriatric population with spine disorder are driving the growth of spine surgery products market. Moreover, increasing road accident cases among the young generation are likely to have a positive impact on the growth of the market. However, spinal cord simulation technologies can hamper market growth. Going forward, on-going technological innovation by the leading key players in the spine surgery products are anticipated to provide growth opportunities for the global spine surgery products market over the forecast period.
Among the geographies, North America dominates the spine surgery products market. The factors responsible for the growth of this region are growing spine disorder, high adoption of technologically advanced spine treatment procedures, improvised healthcare reimbursement policies, and rising demand for minimally invasive spine surgery. Europe is estimated to be the second largest region for this market over the forecast period. A growing number of spine surgeries and government support funding offered for the spine surgery are some factors attributing the growth of spine surgery products market.
The report on global spine surgery products market covers segments such as product type and application. On the basis of the product type, the global spine surgery products market is categorized into fusion products and non-fusion products. On the basis of application the global spine surgery products market is categorized into open surgery and minimally invasive surgery.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global spine surgery products market such as Johnson & Johnson, Alphatec Spine Inc., Zimmer Holdings, Inc., Stryker Corporation, Medtronic PLC, K2M, Group Holdings, Inc., Globus Medical, Inc., NuVasive, Inc., SeaSpine and SpineGuard SA.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global spine surgery products market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of spine surgery products market, Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the spine surgery products market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the spine surgery products market to understand the present and future trends in this market and formulate their strategies accordingly.
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