Spinal Motion Preservation Device Market Segmentation By Device type (Nuclear disc prostheses devices, Annulus repair devices, artificial discs and Dynamic stabilization devices); By Procedure type (Minimally invasive surgery and Open spine surgery); By End-User type (Orthopedic surgical centers, Ambulatory care centers and Hospitals and clinics) - Global Demand Analysis & Opportunity Outlook 2027
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In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Spinal motion preservation devices are primarily used to treat various disorders related to spine. Spinal motion preservation devices are used to straighten vertebral, stabilize the motion of body, fixes multiple spinal segment and maintain the curvature of spine. The primary objectives of the spinal motion preservation devices are to maintain flexibility and retain specific motion. There are numerous techniques such as disc arthroplasty and laminoplasty that are associated in preserving the range of motion in the treated spine. The various problems in aged population are spinal stenosis, enlargement of bone and joints and thickening of tissues. There are varied varieties of devices that provide better treatment substitute than spine fusion for patients with pain and loss function. Additionally, various surgical methods that are used to preserve spinal motion cervical disc arthroplasty are the most effective method.
The global spinal motion preservation device market is anticipated to reach around USD 4.5 Bn by 2027. The CAGR of global spinal motion preservation device market is anticipated to be around 9.0% during 2017-2027. The increasing number of spinal disorders and availability of developed spine surgery technique is anticipated to increase the demand for the spinal motion preservation device.
The global spinal motion preservation device market can be segmented on the basis of device type, procedure type and end-user type. Based on the type of device, it is sub-segmented into nuclear disc prostheses devices, annulus repair devices, artificial discs and dynamic stabilization devices. On the basis of end-user, global spinal motion preservation device market is further sub-segmented into orthopedic surgical centers, ambulatory care centers and hospitals and clinics. Hospitals and clinics sub-segment is anticipated to be the highest growing on the account of increasing number of patients and enhanced curing facility provided to the patient.
By region, global spinal motion preservation device market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to be leading region of the global spinal motion preservation device market on the account of increasing incidences of spinal injuries coupled with growing usage of spinal motion preservation devices. Furthermore, the growing awareness among patient and availability of highly developed healthcare facilities in the region is anticipated to increase the market of spinal motion preservation device. Asia-Pacific is anticipated to observe significant growth during the predicted period on the back of growing geriatric population and increasing disposable income of the population.
Our in-depth analysis segmented the global spinal motion preservation device market in the following segments:
By Device type:
By Procedure type:
By End-User type:
By Region
Global spinal motion preservation device market is further classified on the basis of region as follows:
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Major drivers that are expected to promote the market growth of the global spinal motion preservative device include increasing number of spinal disorder and rising geriatric population. Spinal motion preservation and surgery devices help in growing adoption of surgical techniques and restore the movement of spine.
However, strict government regulations and unfavorable reimbursement policies of the government are some the factors that hinder the global spinal motion preservation device market.
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