Global Motion Preservation Devices Market – Snapshot
Motion preservation is an intuitively attractive alternative to spinal arthrodesis, theoretically preventing adjacent level degeneration. Long-term stability, endurance and strength of the prosthesis are unknown for a majority of implants. Motion preservation in the posterior elements of the spine is arguably a simpler task, as compared to that of the intervertebral disc. The global motion preservation devices market was valued at US$ 611.5 Mn in 2018 and is projected to reach US$ 1501.9 Mn by 2027, expanding at a CAGR of 10.6% from 2019 to 2027.
Increase in global geriatric population, technological advancements, rise in number of spine disorders, and increase in adoption of spinal surgery procedures are key factors that are anticipated to drive the global motion preservation devices market. Moreover, inclination toward minimally invasive procedures is likely to propel the market across the globe. Furthermore, high cost of motion preservation devices and available alternative treatment, stringent regulatory approvals, and unfavorable reimbursement scenario are major factors that are anticipated to restrain the market.
In terms of product, the global motion preservation devices market has been categorized into total disc replacement devices, posterior dynamic devices, facet replacement devices and prosthetic nucleus replacement devices. Utilizations of total disc replacement devices offers improved service delivery in patients with complicated spine injuries. The total disc replacement devices segment dominated the market in 2018, due to a rise in the prevalence of spine injuries. Based on surgery, the market has been bifurcated into open spine surgery and minimally invasive spine surgery. Increase in the prevalence of spine injures is anticipated to drive the market.
In terms of region, the global motion preservation devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a major share of the global market in 2018. The market in North America is driven by the presence of key players and high rate of adoption of technologies in the region. Additionally, a rise in the prevalence of spine injuries is likely to propel the market in the region. Increase in the geriatric population in the U.S. and a rise in the incidence of cardiovascular disease, diabetes, and spine injuries and their associated burdens are anticipated to fuel the market. The market in Europe is driven by an increase in the prevalence of spinal disorders in the region.
The global motion preservation devices market is highly fragment, due to the presence of a large number of players. Major players operating in the global motion preservation devices market include Alphatec Holdings, Inc., Paradigm Spine, Depuy Synthes (Johnson & Johnson), Spinal Kinetics, Inc., Globus Medical, Inc., Zimmer Biomet Holdings, Inc., Medtronic, Stryker, Nuvasive, and K2M.
Increase in trend of mergers & acquisitions and product approvals & launches in developing countries is expected to boost the global motion preservation devices market during the forecast period. Additionally, acquisition boosts the motion preservation market.
This post was originally published on Space Market Research