Spinal injuries can occur due to damage of vertebrae, ligaments, or discs of the vertebral column. The higher is the injury on the vertebral column, more effect of the injury is likely to occur as it is nearer to the brain. Such injuries can be treated by surgical procedures. However surgeries do not treat damages, but can reduce the deformity, relieve the pain and help in alignment of the spine (if fractured). The devices of the surgery that are required depend on the approach of the treatment chosen by the surgeon.
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Global Spine Surgery Devices Market Drivers
Frequent approvals by regulatory bodies of novel surgical devices used in spinal injury is expected to drive the global spine surgery devices market growth. For instance, in September 2018, Meditech Spine LLC received approval by the U.S. Food and Drug Administration (FDA) to market its product Cure Opel – C system. Cure Opel – C system is an additional technology to its already existing product Cure ACP system and Talos – C (HA) Interbody System. It provides a unique lock mechanism, which prevents backing out of screws once fixed in the vertebral column.
Furthermore, in January 2017, Camber Spine Technologies, LLP received an approval by the U.S. FDA for its product Siconus SI Fusion Screw System. It provides support and fixation to larger bones like sacrum. Camber Spine Technologies developed this system with the partnership of Institute for Musculoskeletal Science & Education. Such approvals of novel devices by regulatory bodies is expected to propel the global spine surgery devices market growth.
Furthermore, activities such as collaborations, partnerships, mergers, and acquisitions by manufacturers are expected to elevate the global spine surgery devices market growth. For instance, in May 2019, Medtronic plc, a medical device company acquired Titan Spine LLC, a manufacturer of interbody fusion devices, so as to expand its product portfolio related to spinal surgery devices. Medtronic plc is expected to buy Titan Spine LLC’s full Spine portfolio, which includes titanium–based interbody fusion devices. Hence, such acquisitions are expected to accelerate the global spine surgery market growth.
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Global Spine Surgery Devices Market Regional Analysis
North America is expected to hold a dominant position in global spine surgery devices market over the forecast period. Factors such as high prevalence of spinal cord injuries is expected to drive the North America’s spine surgery market growth. For instance, according to National Spinal Cord Injury Statistical Center, the U.S. had around 17,700 new cases of spinal cord injury and the number of people living with the spinal cord injury were found out to be around 288,000, in 2018. Hence, increase in rate of spinal cord injuries would increase the demand for more surgeries, in turn supporting the global spine surgery devices market growth over the forecast period.
Global Spine Surgery Devices Market Key Players
Some of the major players operating in the global spine surgery devices market include Zimmer Biomet Holdings Inc., Stryker Corporation, DePuy Spine Inc., Medtronic plc, Globus Medical Inc., Smith and Nephew plc, Arthrex , Inc., Paradigm Spine LLC, Meditech Spine LLC, and Alphatech Spine Inc.
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