Thoracolumbar Spine Devices Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMMD2079 | Last Updated On: Jun 21 2022 | Available Formats

> Global Thoracolumbar Spine Devices Market Expected to reach at a high CAGR of 7.9% by 2029: DataM Intelligence

Global Thoracolumbar Spine Devices Market is segmented By Product Type (Spine Biologics, Implants, Instrumentation, Others), By Procedure (Minimally Invasive Surgery (MIS), Open Surgery, Others), By Device Type (Anterior Stabilization Device, Retractors, Posterior Stabilization Device, Others), By Material (Stainless Steel, Titanium, Others), By End-User (Hospitals & Clinics, Diagnostic Centers, Research Centers, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global "Thoracolumbar Spine Devices Market" is expected to grow at a high CAGR of 7.9% during the forecasting period (2022-2029).

Thoracolumbar fractures are associated with disruption of the ligamentous complexes. These are breakages in the spinal column's vertebrae in the thoracic and lumbar region, which may result in instability or compression of neural structures. The thoracolumbar spine devices are used in this region to provide steady support to the spine and avoid bending of the thoracic spine. These devices are used to treat several disorders such as spinal stenosis, spinal instability or scoliosis, degenerative disc disease (DDD), disc herniation, prolapsed intervertebral disc, excessive kyphosis, among others.

Market Dynamics

The thoracolumbar spine devices market is growing due to the rising incidence of spinal disorders such as spinal stenosis, vertebral fracture, degenerative disc disease, excessive kyphosis, and others.  There was a substantial increase in lumbar spine surgery globally. For instance, the volume of lumbar fusion has increased by 62.3% (or 32.1% per 100,000 US adults), from 122,679 cases (60.4 per 100,000) in 2004 to 199,140 (79.8 per 100,000) in 2015. The increases were highest among age 65 or older, increasing 138.7% by volume (73.2% by rate), from 98.3 per 100,000 in 2004 to 170.3 in 2015. The highest increases were for spondylolisthesis (+47,390 operations, 111%) and scoliosis (+16,129 operations, 186.6%), disc degeneration, herniation, and stenosis combined to account for 42.3% of total elective lumbar fusions in 2015. Hence, the increasing cases of spinal disorders lead to an increase in the adoption of thoracolumbar devices for treatment purposes.

There is an inclination towards minimally invasive surgeries (MIS) compared to open surgery, as open surgery is a painful procedure and requires a prolonged hospital stay. The shift from traditional open surgeries to minimally invasive surgeries has improved patient gratification owing to a fast recovery and shorter hospital stay. The increasing demand for minimally invasive spine surgery is one of the major factors boosting the growth of the thoracolumbar spine devices market globally.

Also, the continuous advancements in medical device technology have created potentials for effectively treating various spinal disorders. Medical device manufacturers are developing new products that lead to innovative treatment techniques and surgical procedures. For instance, in August 2019, SeaSpine Holdings Corp., a global medical technology company focused on surgical solutions for the treatment of spinal disorders, launched Mariner® MIS Posterior Fixation System. The Mariner MIS is a comprehensive, minimally invasive posterior fixation system built upon the Mariner platform to simplify treating a wide range of spinal pathologies.  Minimally invasive procedures are typically associated with reduced blood loss, incision size, and hospital stay compared to traditional open procedures.   These advantages are expected to drive a continued shift towards minimally invasive surgery (MIS) adoption and the associated growth of the MIS spinal implant market.

Market Segmentation

The global thoracolumbar spine device market can be segmented into instrumentation, implants, spine biologics, and others based on product type. Among these, the implants segment accounted for the largest market share in 2018 due to the rising prevalence of spine disorders coupled with the growing geriatric population, better efficiency, easy availability of implants, and technological advancement in spinal implants for the treatment.

The thoracolumbar spine devices market is segmented into diagnostic centers, hospitals & clinics, research centers, ambulatory surgical centers, and others by end-users. Among these, the hospitals & clinics segment accounted for the largest market share in 2018, owing to supportive reimbursement policies in hospitals. On the other hand, there is an increase in the number of surgical procedures in ambulatory surgical centers, which is expected to boost the growth of this segment during the forecast period (2022-2029).

 

Geographical Analysis

North America is dominating the global thoracolumbar spine devices market, accounting for the largest market share in 2018, owing to the growing expansion of the U.S. healthcare industry in the emerging economies that supports the growth of the surgical procedures market, rising incidence of spinal diseases, and increasing technological development in thoracolumbar spine devices by major manufacturers. According to the National Statistics Group, the US healthcare expenditure is expected to increase at an average rate of 5.8% from 2012 to 2022, which is 1% faster than the expected average annual growth in GDP.

The annual incidence of spinal cord injury (SCI) is approximately 54 cases per one million people in the United States, or about 17,730 new SCI cases each year. New SCI cases do not include those who die at the location of the incident that caused the SCI. The incidence of symptomatic degenerative lumbar spinal stenosis is rising in the U.S., and estimated that more than 2.4 million people in the United States alone would be affected by symptomatic lumbar spinal stenosis by the year 2021

The Asia-Pacific thoracolumbar spine devices market is expected to grow at the fastest CAGR during the forecast period (2020-2027) due to rising awareness towards the treatment of various spinal disorders, improvements in healthcare infrastructure, increasing number of cases for spine disease, and technology advancements in this region.

Competitive Landscape

The thoracolumbar spine devices market is highly competitive with the presence of a large number of players, including Depuy Synthes, Medtronic Plc., B. Braun Melsungen AG, Alphatec Holdings, Inc., Globus Medical, Inc., Exactech, Inc, Stryker Corporation, Orthofix International N.V, NuVasive, Inc., and Zimmer Biomet.

The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations contributing to the growth of the thoracolumbar spine devices market globally. For instance,

In June 2019, NuVasive, Inc. launched Modulus TLIF-O, a porous titanium spine implant used under the transforaminal lumbar interbody fusion (TLIF) procedure.

In May 2019, Alphatec Holdings, Inc. launched PLIF IdentiTi-PS Porous Titanium Interbody Implant System for Posterior Lumbar Interbody Fusion Procedures (PLIFs) and its AlphaGRAFT Demineralized Bone Matrix (DBM) Fiber.

In March 2019, Zimmer Biomet Holdings, Inc., a global leader in musculoskeletal healthcare, received the U.S. FDA 510(k) clearance of the ROSA® ONE Spine System for robotically assisted minimally invasive and complex spine surgeries.

In January 2019, Southern Spine, a manufacturer of implants and instruments for spinal surgery, launched three new StabiLink Dual Lamina Implants specifically designed for upper thoracic clinical use.

Why Purchase the Report?

  • Visualize the composition of the thoracolumbar spine devices market segmentation by product type, procedure, device type, material, and end-user, highlighting the key commercial assets and players.
  • Identify commercial opportunities in the thoracolumbar spine devices market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of thoracolumbar spine devices market-level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players

 

The Global Thoracolumbar Spine Devices Market report would provide access to an approx. 77 market data table, 76 figures and 295 pages.

 

Target Audience

  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Manufacturers

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