Technavio analysts predict the global thoracolumbar spine devices market will grow at a nearly 4 percent compound annual growth rate between 2018 and 2022.
Here are four observations.
1. The increasing prevalence of spinal disorders — degenerative disc disease, excessive kyphosis, spinal stenosis and vertebral fracture — is a major driver of the global market.
2. Prolapsed intervertebral disc and spondylolisthesis cases are also increasing globally, for which most people require spinal fusions.
3. The implants and instrumentation segment of the global thoracolumbar spine devices market dominated in 2017. This segment captured an 83 percent market share, due to an increasing number of spine disease cases, an aging population, advancing technology and improving reimbursements.
4. Geographically, the Americas accounted for 74 percent of the global market in 2017.