Spine surgery devices market is one of the major sub segments of the orthopedic industry. It forms one of the most important segments of the orthopedics, which helps in joining and curing one or two vertebrae. It is a procedure wherein the supplementary bone tissue from the patient itself or a donor is utilized along with the patient’s bone growth to fuse in the vertebrae. This process is called as osteoblastic. The spinal surgery is mostly performed on the lumbar, cervical and thoracic vertebrae’s. The complications in the spine region arise as a result of lack of lubricants causing friction between bones. This ultimately leads to cracking of bones.
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Spine surgery devices market is classified into five major classes as spine biologics, spinal decompression, vertebral compression fracture treatment products, non-fusion, and fusion. The fusion class is further divided into spinal bone stimulators and spine fusion and fixation. Owing to the recent developments and usage North America constitutes the largest market share which is succeeded by Europe. The spine surgery devices market is however experiencing a fuelled growth in the Asian region as a result of the growing population, awareness of newly developed technologies, increased per capita income of the hospitals and the people, improved medical literacy and tourism.
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The current scenario of economic slowdown in the European countries U.S. coupled with the pricing pressures are some of the driving factors that will fuel the spine surgery devices market in the Asian region. The high initial cost and complicated machines of the spine surgery devices are some of the major inhibitors of the market slowing the growth rate across the globe. Ageing population and the growing health concerns has led the government in various countries to take several initiatives thus providing several opportunities for this market.
Some of the major key players are Alphatec Spine Inc., DePuy Spine, Medtronic Inc., Stryker Corporation, Smith & Nephew Plc, Orthovita Inc., Zimmer Spine Inc and others.
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