According to the latest research report from Orbit Research “Global Spine Orthopaedic Devices Market: Drivers, Restraints, Opportunities; Trends and Opportunities to 2023” the Spine Orthopaedic Devices Market will Grow at a CAGR of 6.23 % by the end of 2023. Aging population is a primary driver for all medical industry segments as it significantly driven by declining fertility rates and increase in life expectancy. The US had the largest aging population with people aged above 65 years totaling up to 46 million, in Europe about 19% of the people were aged above 65 years, and 26.7% of elder people were aged above 65 years in Japan as of 2016. These three major markets have a significant market stand, as all the key vendors are present in this these regions accounting to about 70%-75% of the global spine orthopedic devices market. However, only 12.84% of the world population, accounting for 954 million people, lived in these geographic regions in 2016. The growth and opportunities for orthopedic devices exist outside these three major markets as most of the emerging and underdeveloped regions require musculoskeletal care throughout their lives.
Currently, the market is dominated by spine fixation devices (implants) segment having the maximum number of procedures and sales of spinal implants in the market. Vendors are focusing in investing huge amount on R&D to develop new innovative products in the market with newer applications to offer. Most of the vendors in the market are focused on expanding their business by mergers and acquisitions, partnerships, and trade shows. Big players, such as Zimmer Biomet, DePuy Synthes, Stryker, and Medtronic, along with collaboration with other universities and orthopedic research centers for clinical trials of various spine diseases are coming with new spine surgery products in the market, which are expected to grow tremendously during the forecast period. Significant investments in R&D and increased awareness about complex spine procedures are expected to boost the market growth. Learn about 400 Spinal Companies in:https://thespinemarketgroup.com/category/spine-companies/
Learn about 400 SPINAL Companies: It is the first draft of the SPINE CATALOGUE 2018 that will be launched next January. Please if your Company is not included, please contact us: spinemarketgroup@gmail.com