PORTLAND, Oregon and PUNE, India, March 22, 2017 /PRNewswire/ --
Global motion preservation devices market was valued at $920 million in 2015, and is projected to reach $1,902 million by 2022, registering a CAGR of 10.9% from 2016 to 2022, According to a new report published by Allied Market Research.
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Motion preservation devices are used to treat disorders associated with the spine. These devices are used to restore and maintain the normal alignment of the spine. The advent of minimally invasive spine surgery techniques and rise in incidence of spinal disorders drive the market. In addition, rise in geriatric population and technological developments in bone grafting products are anticipated to boost the demand for motion preservation devices, globally. However, unfavorable reimbursement scenario and stringent regulatory approval process hamper the market growth.
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Artificial disc replacement segment generated the highest revenue in the global non-fusion/motion preservation devices market in 2015, owing to their increased preference over spinal fusion procedures. In addition, the nuclear disc prostheses segment is anticipated to grow rapidly, registering a CAGR of 11.1% during the forecast period.
The global motion preservation devices market is segmented on the basis of surgery into open spine surgery and minimally invasive spine surgery (MISS). The open spine surgery segment generated the highest revenue in 2015. However, the MISS segment is expected to grow at the highest CAGR during the study period.
According to Deepa Tatkare, Senior Analyst, Healthcare Research, Allied Market Research, "Shift towards artificial disc replacement procedures poses lucrative opportunities for key players in the global motion preservation devices market. Artificial disc replacement surgery is preferentially used in the medical sector for maintaining normal spine position and reducing degeneration of adjacent segments of the spine."
Key findings of Motion Preservation Market:
North America accounted for the majority of revenue in 2015, and is expected to maintain its dominance throughout the forecast period. This is attributed to increased adoption of motion preservation devices in surgery and rise in incidence of spinal disorders and impairments, such as spinal stenosis. However, the Asia-Pacific region is projected to grow rapidly during the forecast period, registering a CAGR of 11.5%. Improving healthcare infrastructures and increase in expenditures in the emerging markets, such as India and China, to cater to the unmet medical needs in these countries have bolstered the market growth.
The key players in the motion preservation devices market have focused on expanding their business operations in the fast-growing emerging countries by adopting the new product launch strategy. The major companies profiled in the report include Aurora Spine Corporation, B. Braun Melsungen AG, Depuy Synthes (Johnson & Johnson), Globus Medical, Inc., HPI Implants, Paradigm Spine, RTI Surgical, Inc., Raymedica, Inc., Spinal Kinetics, Inc., Ulrich GmbH & Co. KG, and Zimmer Biomet Holdings, Inc.
Read more about this research into the Medical Devices market: https://www.alliedmarketresearch.com/life-sciences/medical-devices-market-report
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