(PharmaNewsWire.Com, March 05, 2018 ) Spinal trauma refers to a severe injury to the medulla spinalis and needs the fixation of spinal trauma devices to treat bone deformities, facilitate bone fusion, strengthen and stabilize the spinal cord, and stop additional injury and complications. Many medical facilities are choosing spinal non-fusion procedures over fusion procedures as the spinal non-fusion procedures facilitate to preserve the quality and stability of the spine and alleviate back and leg pain while enduring significant loads.
The global Spinal Trauma Devices market is estimated to have a value of USD 3.2 billion in 2017. With a CAGR of 5.6%, the market size is expected to grow rapidly to cross USD 4.2 billion by 2022. The market growth apart from the products ability to fix things can be attributed to factors such as rapid advancements in technologies facilitating wide variety of fixators and bioresorbable implants and favorable insurance policies.
The augmented use of internal fixator devices in surgical operations has led to their significant market share among Spinal Trauma Devices market products and is expected to grow at a CAGR of 7%. The major factors driving the internal fixation devices segment include durability of the devices, cost-effectiveness in addition to product advancements. Moreover, internal fixation devices need relatively less post-surgery follow-up than external fixators boosting the demand for internal fixation devices further. In 2014, under the classification of internal fixator devices only the plates & screws segment share was valued about 1.05 billion dollars.
On the other hand, the external fixator devices segment is estimated to grow at a CAGR of 5% during the forecast period. The less growth compared to other segment is due to factors such as certain risks related to external fixation devices like redness, swelling, pain in the operated, and tightening of the skin. This can limit the expansion of the segment to an extent.
As of now, North America with its advanced cutting-edge technologies and sophisticated health care, rising reports of road accidents leading to spinal injuries; accounts for the largest share of global Spinal Trauma Devices market, followed by Europe and the Asia Pacific. North America occupied nearly half of the global market share led by US & Canada.
The major market contributors for the global Spinal Trauma Devices market are 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.
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