Companies & Markets: Global Spinal Surgery Devices Market Forecast to Reach USD 12.6 Billion in 2017 (press release)
Spinal Surgery Devices Market to 2017 – Motion Preserving Spinal Non-Fusion Procedures to Drive Long Term Growth. The global market for medical spinal surgery devices is forecast to reach $12.6 billion in 2017 at a CAGR of 10%. The future growth is primarily driven by increasing preference for minimally invasive spinal fusion procedures and growing ageing population around the world. Positive clinical trials and favorable reimbursement policies for spinal non-fusion procedures can further contribute to the growth of the market. Increasing awareness about spine procedures, increasing income levels in the emerging economies and technological innovations are other major drivers for the growth of spinal surgery devices market.
The US to Continue to be the Biggest Market for Spinal Surgery Devices. The US is the largest market for spinal surgery devices and contributed 69% towards the global market in 2010. The US spinal surgery devices market was valued at about $4.6 billion in 2010 and is expected to reach $9.2 billion by 2017 with a CAGR of 10%. Increasing incidence of spinal disorders due to growing ageing population is the major driver for spinal surgery devices market in the US. Increasing adoption of minimally invasive spinal fusion devices despite facing reimbursement challenges is another major driver for the growth of the market in the US. Growing demand for pedicle screw systems is driving the market for spinal fusion devices in the US. Motion preserving spinal non-fusion procedures is expected to drive the long term growth with favorable clinical trials in the near future.
Medtronic, Inc. Dominates the Global Market for Spinal Surgery Devices. Medtronic, Inc. dominates the global market for spinal surgery devices with a market share of 34% in 2010. DePuy, Inc. and Synthes, Inc. are the other leading players with market shares 13% and 12% respectively. Medtronic dominates the market due to their broad portfolio of products in spinal fusion devices such as the Prestige Cervical Disc, the CD Horizon Legacy Spinal System, the LT-Cage Device and the X-Stop Spacer. Focus on development of innovative products is the major growth strategy followed by Medtronic to dominate the market for spinal surgery devices.
Report Details for “Spinal Surgery Devices Market to 2017”: http://www.companiesandmarkets.com/r.ashx?id=39266G4Q2702568
SOURCE: Companiesandmarkets.com