The increasing development of bioresorbable implants will boost the global spine implant market, according to a Transparency Market Research report.
Here are seven observations:
1. More patients demanding minimally invasive surgeries will serve as a dominant driver of the spine implants market.
2. An increase in the number of spinal injuries and disorders as well as technological advancements will spur market growth.
3. Lengthy procedure approval processes, costliness of spine treatments and unfavorable reimbursements will serve as barriers to market growth, however.
4. Market opportunities include image-based spinal navigation technology as well as titanium biologics.
5. While North America will continue to dominate the market, the Asia-Pacific region will see significant growth due to its large population, increased healthcare expenditure and increasing awareness of spinal implants.
6. Japan will see a boost due to skilled surgeons, favorable market economics and established regulatory systems.
7. Center Valley, Pa.-based Aesculap Implant Systems; Chesterfield, Mo.-based Ulrich Medicals; Mequon, Wis.-based Titan Spine; Kalamazoo, Mich.-based Stryker; Dublin, Ireland-based Medtronic; Warsaw Ind.-based Zimmer Biomet; and Raynham, Mass.-based DePuy Synthes dominate the market.