Published Date : Dec 13, 2016
ALBANY, NY, Dec 13, 2016: MarketResearchReports.biz has announced the addition of a new report, titled “Global Minimally Invasive Spine Surgery Market 2016-2020.” It compiles exhaustive information about the factors influencing the market’s growth. Besides discussing the growth drivers, a detailed assessment of the key restraints is also included in the report. Growth witnessed by the global minimally invasive spine surgery market is expected to remain positive over the course of the forecast period between 2016 and 2020. The report forecasts the market to exhibit a CAGR of more than 7% during the aforementioned forecast period.
Medical advancements and the rising incidence of chronic ailments and accidents have compelled the healthcare sector to make accessing emergency care as easy as possible. This resulted in the high demand for ambulatory surgical centers (ASCs), subsequently bolstering growth opportunities for the global minimally invasive (MI) spine surgery market. MI procedures are more preferred for implanting cervical implants because they are safer and considered reduces the duration of hospital stays, need for blood transfusion, and risk of infections. The advent of minimally invasive surgeries has empowered surgeons to perform surgical procedures in outpatient settings of ASCs depending on how critical his condition is.
Furthermore, a majority of insurance companies offer higher reimbursement in cases of MI surgeries performed in ASCs than in hospitals. Such favorable policies will aid the expansion of the MI spine surgery market in the coming years.
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Regionally, the Americas led the global MI spine surgery market and is expected to continue dominating through the course of the forecast period. As per a recent research, over 65 million people in the US reportedly suffer from back and neck pain. Spinal disorders such as degenerative disk disease, slipped disc, herniated discs, spondylolisthesis, osteoarthritis, and spinal stenosis are however associated with lower back pain. Additionally, the region has a considerably high base of geriatric population, which is expected to boost the MI spine surgery market in the Americas in the near future.
Based on product, the global MI spine surgery market can be bifurcated into implants and instrumentations and biomaterials. Among these, the instrumentation and biomaterials segment emerged dominant in the global market in 2015. By application, the market can be bifurcated into spine non-fusion procedure and spine fusion procedure. Of these, the spine fusion procedure segment led the market in 2015 and is expected to continue leading the global market through the forecast period.
Besides segmenting the market based on various parameters and discussing the factors influencing its trajectory across these segments, the report also sheds light on the market’s vendor landscape. Companies such as Zimmer-Biomet, Medtronic, Stryker, DePuy Synthes, and NuVasive have been identified as the key vendors in the market. It also profiles companies such as Alliance Spine, Globus Medical, Precision Spine, Life Spine, Reliance, and Medical Systems among others. Due to the presence of a large number of local and international players, the global minimally invasive spine surgery market is characterized by the prevalence of intense competition.
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