Spinal trauma devices are used for stabilizing spine injuries. It allows people to walk easily as it reduces the compression in the affected area of the spine thereby reducing pain and stress on the injured part giving body the time it needs to fix itself.
Rapid advancements in technology coupled with their growing awareness in the less developed areas of the world, market demand shift from metallic fixators to bioresorbable implants and finally the ever increasing demand for minimally invasive treatments are expected to fuel the growth of this market in the forecast period.
Inadequate insurance schemes and their proper regulation especially in the developing countries is a major restraint of market growth.
This market is broadly classified by device type into External Fixation Devices and Internal Fixation Devices. Internal fixation devices accounted for the larger market share in 2016 and is expected to stay in the lead till the end of 2022. It is also predicted to grow at a CAGR of nearly 7% in the forecast period. It is further categorized into rods and pins, bone grafts and plate and screws. On the other hand the external fixation devices market category is anticipated to be growing at a CAGR of nearly 5%. Internal fixation devices are economical and highly efficient which explains the occurrence of above mentioned trend. Along with that they are also highly flexible and more durable and require less number of post-operative follow ups. Usage of external fixation devices can cause swelling. Braces, exoskeletons etc. fall in this category.
Classification by geography entails North America, Asia Pacific, Latin America, Europe and Middle East and Africa. North America accounts for the largest market share. It is because US and Canada are the two leading countries in this market. Augmenting geriatric population is the reason why Asia Pacific is predicted to be the fastest growing regional market in the forecast period.
Key players in the market include Stryker Corp., CONMED Corp., Medtronic, Smith & Nephew plc. Other players in the market include NuVasive Inc., DePuy Synthes, Spinal Technology Inc., Arthrex Inc., ReWalk Robotics, Orthofix International NV, and others.
scope of the report provides: The evaluation of the current market for your product or services and the future implications of the market Addresses the opportunities by better understanding the market through size estimates and growth rate analysis to forecast the market for the future Extensive segmentation to understand the dynamics of market at a very granular level by splitting down the market to the smallest segment Addresses the key market dynamics involving the drivers, restraints and challenges with an aim of providing insights for gaining market share The factors responsible for the shaping of the industry as it is as a result of competitive environment is analyzed through Porters Five Forces The effects of political, economic, social, technological, legal and environmental factors on the industry is analyzed through PESTLE analysis to better understand the aspects of strategic management required to comply with the exogenous and endogenous factors Strategic evaluation of the key players to gain insights of their performance allowing access to their product portfolio, financial performance and the strengths of their business strategic developments Comparative study of the firms across the industry measuring their performances based on market share and recent activities in order to achieve competitive intelligence Equip you with the information providing with the investment opportunities in the industry Looking for more? If you are in need of a specific research study, we have an expertise in undertaking a customized study and will aid to meet your research requirement to the fullest.
About Us: Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and sksillset dedicatedly serve clients from various industries and regions.
