The global spine surgery products market is all set to gather noteworthy amounts in revenues in the forecast period of 2017 to 2025, states the recently published report by Transparency Market Research. The report performs the segmentation of the market for spine surgery products on the basis of product, application, end-user, and region. Based on end-user, the spine surgery products market is bifurcated into ambulatory surgical centers, hospitals, and others.
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Market Witnesses Rising Demand Owing to Plethora of Reasons
One of the key reasons driving the growth of the global spine surgery products market is considerable rise in the number of spine surgeries in all worldwide locations. This aside, the global spine surgery products market is getting benefitted from the consistent growth in the older population and spine degeneration cases in the globe. On the other hand, there is noteworthy growth in the number of accidents in young generation. All these factors are working as a driver for the global spine surgery products market.
Considerable increase in the cases of grafts and implants has increased the possibilities critical complications including spine disorders. This aside, increased inclination toward recommending spine surgery by physicians is driving the growth of the global spine surgery products market.
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Players Focused on Increasing Research Activities
The global spine surgery products market is fairly fragmented in nature. The presence of many players signifies that the competitive landscape of the market for spine surgery products is highly intense. Key players in the market for spine surgery products are growing their investments in research and development activities. These moves are helping them to improve the quality of products they offer. Thus, the global spine surgery products market is witnessing prominent avenues for growth.
Several enterprises in the spine surgery products market are focused on incorporating technological advancement in their products. This aside, many vendors are entering into partnership agreements. This move is helping them to expand their regional presence. In addition to this, enterprises are using the strategies of acquisitions, mergers, and product launches. Thus, all these activities connote the prodigious growth opportunities for the vendors working in the global spine surgery products market.
The list of key vendors working in the global spine surgery products market includes Medtronic, Stryker, Globus Medical, Zimmer Biomet, NuVasive, K2M, RTI Surgical, Inc., Aesculap Implant Systems, LLC (B. Braun Company), Orthofix International N.V., and Alphatec Holdings, Inc.
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North America: Lucrative Market for Spine Surgery Products
The global spine surgery products market is spread across five key regions such as Europe, North America, Latin America, Asia Pacific, and Middle East & Africa. Of them, North America is one of the leading regions expected to show remarkable lucrative opportunities for market growth. One of the key reasons supporting this estimation is presence of technologically advanced research and treatment platforms for spine disorders in this region.
Besides, presence of precise reimbursement policies in North America will help spine surgery products market to grow at a rapid pace during forecast period of 2017 to 2025. The region is witnessing considerable growth in minimally invasive surgery (MIS) in adolescent idiopathic scoliosis (AIS). Apart from this, rise in Canadian healthcare infrastructure is fueling spine surgery products market growth in North America.
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The assessment depicted here is based on a report by Transparency Market Research (TMR) titled “Spine Surgery Products Market (Product - Fusion Products (Cervical Fusion, Interbody Fusion, Spinal Fixation, Minimally Invasive Surgical (MIS) Devices, and Spine Biologics (Demineralized Bone Matrix and Synthetic Bone Graft Substitutes)); Non Fusion Products (Motion Preservation, Spine Stimulators and Vertebral Compression Fracture (VCF) Devices); End User – Hospitals and Ambulatory Surgical Centers (ASCs); Application - Vertebral Fracture Repair and Spinal Fusion) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025.”
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