The global motion preservation devices market is anticipated to reach $1.5 billion by 2027, according to Transparency Market Research.
Four things to know:
1. The market is expected to increase at a compound annual growth rate of 10.6 percent during 2019-2027.
2. Promising reimbursement policies, increased acceptance of spine surgery, technological developments and a rising elderly population will contribute to market growth.
3. The market was valued at about $611.5 million in 2018, when the total disc replacement devices segment was the dominant market segment.
4. Major players in the motion preservation device space include Stryker, Medtronic, Depuy Synthes, Zimmer Biomet, Globus Medical and NuVasive.