Motion Preservation Devices Market Size Estimated to Observe Significant Growth
Posted by Sneha Talanakr on May 3rd, 2019
Motion preservation devices, also referred to as non-fusion devices, and are utilized for the treatment of numerous spine conditions without fusion, thereby permitting patients to preserve movement as well as flexibility. An artificial disc replacement is a type of motion preservation technique that permits spinal cord decompression and helps preserve natural movement. Factors promoting the growth of the motion preservation devices market include a rise in the geriatric population and high prevalence of spinal disorders. Additionally, motion preservation surgery aids in reinstating the motion of the spine. This has resulted in an increased adoption of these surgical procedures. However, unfavorable reimbursement scenario and rigorous regulatory approval procedures are projected to hamper the motion preservation devices market.
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Spinal conditions such as spinal stenosis are major problems in men and women above 50 years of age. Aging leads to structural changes in the spinal cord such as thickening of the tissue band that cares for the spine and bones & joints enlargement, thereby resulting in impairment of the spinal cord. As per Eurostat, the population of the European Union (EU) was expected to reach 508.5 million in January 2015. Out of this, the elderly population (65 or over) had a share of around 19%, which reflected an increase of 0.4% in comparison to the previous year. Therefore, a rise in the geriatric population is expected to fuel demand for motion preservation devices.
The factors promoting the growth of the motion preservation devices market include rise in the prevalence of spine disorders, increase in geriatric population, and technological advancements. Moreover, other factors propelling the growth of the motion preservation devices market include rise in the popularity of minimally invasive spine procedures and increase in patient awareness about advanced spine surgeries. However, costly implants and high procedure cost are expected to impede the growth of the motion preservation devices market in the near future.
The global motion preservation devices market can be segmented based on product, surgery, end-user, and region. Based on product, the global motion preservation devices market can be classified into total disc replacement, posterior dynamic devices, facet replacement, and prosthetic nucleus replacement. In terms of surgery, the global market can be divided into minimally invasive spine surgery and open surgery. Based on end-user, the global motion preservation devices market can be classified into hospitals, orthopedic clinics, ambulatory surgical centers, and specialty clinics.
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Based on region, the global motion preservation devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held a leading share of the global motion preservation devices market in 2017, followed by Europe. This can be attributed to a rise in the prevalence rate of spine disorders and increase in the preference for motion preservation devices in North America. In Asia, the growth of the motion preservation devices market is expected to be propelled by an improvement in the infrastructure in the health care field and increase in expenditure in the region. Also, lower costs of surgical procedures in India as compared to developed countries have also propelled the motion preservation devices market.
Major players operating in the global motion preservation devices market include RTI Surgical, Inc., Paradigm Spine, Depuy Synthes, Globus Medical, Inc, Spinal Kinetics, HPI Implants, Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, and Ulrich GmbH & Co. KG. Major market players have adopted product development strategies such as approvals, product launches, and clinical trials in order to maximize their market share.
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About the AuthorSneha Talanakr
Joined: April 22nd, 2019
Articles Posted: 279
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