High prevalence of spinal disorders, and continuous technological advancements are key factors driving market revenue growth.
VANCOUVER, BRITISH COLUMBIA, CANADA, July 8, 2024 /EINPresswire.com/ -- The global thoracolumbar spine devices market size was USD 5.60 Billion in 2022 and is expected to register a revenue CAGR of 4.7% during the forecast period. The global market for thoracolumbar spine devices is experiencing robust growth, driven by a combination of increasing prevalence of spinal disorders and continuous technological innovations in medical devices. According to recent research, the market is expected to expand significantly in the coming years, supported by advancements that enhance surgical outcomes and meet the growing demand for effective spinal treatments.Key drivers of market growth include the heightened prevalence of spinal disorders such as vertebral fractures, degenerative disc disease, and spinal stenosis, among others. These conditions necessitate advanced treatment options, spurring the adoption of thoracolumbar spine devices globally. These devices offer improved stability against spinal deformities, providing crucial support in surgical interventions for patients with thoracolumbar and lumbar spine issues.
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Technological advancements play a pivotal role in driving market dynamics, particularly through innovations like robotics in spinal surgeries. Robotic assistance facilitates enhanced precision in procedures, including accurate screw placement and reduced radiation exposure, thereby improving surgical outcomes. Such advancements address the complexities involved in thoracolumbar spine surgeries, contributing to the market's growth trajectory.
Despite the promising growth, the market faces challenges such as strong competition in the development of sophisticated surgical devices. The complexity of spinal procedures necessitates specialized instruments and technologies, which can pose barriers to market expansion. However, ongoing research and development efforts aim to overcome these challenges, further enhancing the efficacy of thoracolumbar spine devices.
A notable trend in the market is the increasing focus on treating spinal injuries and disorders through less invasive methods. This trend aligns with rising patient preferences for minimally invasive surgeries and underscores the importance of technological innovations in meeting healthcare demands effectively.
Segment-wise, the market is categorized into spinal fusion devices and non-fusion devices. Spinal fusion devices, used for stabilizing spinal segments, are expected to dominate the market due to their widespread application in treating spinal deformities and instability. Meanwhile, non-fusion devices are witnessing significant advancements, supported by innovations in biologics and surgical navigation technologies.
Application-wise, the market segments include Degenerative Disc Disease (DDD), trauma and fractures, scoliosis, and tumor and infection removal. The DDD segment holds the largest market share, driven by the high incidence of back pain associated with degenerative disc conditions. Conversely, the scoliosis segment is anticipated to exhibit the highest growth rate, reflecting increasing cases of spinal curvature disorders among younger demographics.
In terms of end-users, hospitals currently lead the market owing to their role as primary centers for spinal surgeries and treatments. Orthopedic clinics are poised to witness substantial growth, attributed to advancements in robotic surgery systems that enhance surgical precision and patient outcomes.
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Thoracolumbar Spine Devices Top Companies and Competitive Landscape
The global thoracolumbar spine devices market is moderately fragmented, with many large and medium-sized players accounting for majority of market revenue. Major businesses are using a variety of tactics, making mergers and acquisitions, strategic agreements, and contracts, as well as creating, experimenting with, and introducing more efficient thoracolumbar spine devices solutions.
Some major players included in the global thoracolumbar spine devices market report are:
Medtronic plc,
DePuy Synthes (a part of Johnson & Johnson),
Stryker Corporation,
Zimmer Biomet Holdings, Inc.,
NuVasive, Inc.,
Globus Medical, Inc.,
Orthofix Medical Inc.,
Aesculap Implant Systems (a division of B. Braun),
Alphatec Holdings, Inc.,
RTI Surgical Holdings, Inc.,
K2M, Inc. (acquired by Stryker Corporation),
Spinal Elements, Inc.,
Amedica Corporation,
Joimax GmbH,
CoreLink, LLC,
Osseus Fusion Systems,
Precision Spine, Inc.,
Captiva Spine,
Implanet,
Life Spine
Thoracolumbar Spine Devices Latest Industry News
On October 25, 2023 the VRTX System, the first commercially available cervical to sacrum spine system, was introduced by Aspen Medical Products with the goal of transforming spinal treatment in acute settings. In order to minimize issues for patients waiting for a custom Cervical Thoracic Lumbar Sacral Orthosis (CTLSO), the prefabricated design allows for quick fitting. The objectives of Aspen's VRTX System are to guarantee user-friendliness, reduce duration of stay, and improve operational efficiency. By offering a comprehensive spine treatment, this innovation demonstrates Aspen's dedication to enhancing the hospital environment. The VRTX System, is a prime example of Aspen's clinical solutions leadership and innovation in spine care.
On June 26, 2023, Genesys Spine launched the SIros O Oblique SI Fusion system, expanding its offerings for sacroiliac joint fusion under thoracolumbar spine devices. This system, the third in Genesys Spine's SI joint fusion lineup, incorporates patented rifled inner diameter and 3D Printed nanostructure for osteoconduction. The system, celebrated for its minimally invasive design, offers comprehensive instrumentation for smooth implant delivery, minimizing bleeding, and enhancing operative efficiencies. Dr. Jessen Mukalel, the first U.S. physician to use SIros O, reported a successful procedure, foreseeing optimized outcomes and potential reductions in opioid use for sacroiliitis.
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Thoracolumbar Spine Devices Market Segment Analysis
For the purpose of this report, Emergen Research has segmented global thoracolumbar spine devices market on the basis of product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2019-2032)
Spinal Fusion Devices
Pedicle Screw Systems
Rods and Plates
Interbody Fusion Devices (e.g., cages)
Bone Grafts and Substitutes
Non-fusion Devices
Dynamic Stabilization Devices
Artificial Discs
Annulus Repair Devices
Application Outlook (Revenue, USD Billion; 2019-2032)
Degenerative Disc Disease (DDD)
Lumbar
Thoracic
Trauma and Fractures
Spinal Cord Injuries
Fractures of the Thoracic and Lumbar Spine
Scoliosis
Idiopathic Scoliosis
Neuromuscular Scoliosis
Tumor and Infection Removal
Spinal Tumors
Infections of the Spine
End-Use Outlook (Revenue, USD Billion; 2019-2032)
Hospitals
Ambulatory Surgical Centers (ASCs)
Orthopedic Clinics
Regional Outlook (Revenue, USD Billion; 2019–2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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