Global Spine Orthopaedic Devices Market: Drivers, Restraints, Opportunities; Trends and Opportunities to 2023

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  • Published Date:
    Mar 2019
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  • Category:
    Healthcare & Pharmaceuticals
  • Publisher:
    Infoholic Research
Global Spine Orthopedic Devices Market – Drivers, Restraints, Opportunities, Trends, and Forecasts: 2017–2023
Overview: Spinal implants are used in treating disorders of the spinal column. An increase in the incidence rate of spinal disorders, such as spondylolisthesis, and disc-related issues, and spinal stenosis, are driving the market growth. Most of the spine implants are used to correct deformities of the spine by stabilizing and strengthening the spine. These implants are composed of metals such as titanium alloy, stainless steel, and bio-absorbable materials. The spine orthopedic devices market is segmented into two types, namely spinal fusion implants and spine non-fusion implants. The development in spine orthopedic devices segments has gained huge importance in developing advanced implants with innovative orthobiologics (biomaterials).
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.
A large portion of the population in the developing countries cannot afford quality healthcare facilities and governments do not offer adequate reimbursements. The high cost of surgeries will make patients more reluctant from adopting the same. Governments in the developing nations are not well-equipped to provide basic advanced healthcare services, but are focusing on improving their infrastructure to provide better treatment. Further, vendors are focusing on producing spine orthopedic implants, specifically for population in these countries to obtain better outcomes and increase awareness among the population.
Spine orthopedic devices continue to demonstrate substantial improvements in patient outcomes by delivering high-quality and life-sustaining treatment. This factor provides the market with huge potential to grow in both developed and developing countries. Vendors are investing in R&D for the development of new products to gain major market share globally.
Market Analysis: The “Global Spine Orthopedic Devices Market” is estimated to witness a CAGR of 6.23% during the forecast period 2017–2023. The global spine orthopedic devices market is analyzed based on three segments, namely product type, end-users and regions.
Product Analysis: The Global Spine Orthopedic Devices Market includes three major segments, namely spine fixation devices (implants), spine instruments, and biomaterials. The market is dominated by the Spine Implants segment with the presence of advanced fusion and non-fusion procedures performed with orthobiologics and the availability of clinical data regarding the safety and efficacy of the devices. This enables surgeons to adopt devices for treatment of various spine-related disorders as these surgeries contribute 60% of the total orthopedic procedures. Therefore, opportunities for growth in the emerging countries of LATAM and APAC remain vast. The increasing adoption of MI surgeries in treating orthopedic disorders, particularly in the elderly, and the growing availability of devices in the market also contribute to the growth of the market.
Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific (APAC), and RoW. North America is set to be the leading region for the spine orthopedic devices market growth followed by Europe. There has been a significant increase in the number of individuals undergoing treatment for various spine orthopedic procedures in the US with the presence of leading vendors in this region.
Europe accounted for the second largest market with chronic pain being one of the major complications with the rising burden of spine chronic cases (lower back). In 2015, the public spending on healthcare in Europe amounted to 18% of the overall government expenditure. The expenditure on chronic pain care with orthopedic devices is directly reimbursed to hospitals within the NHS. Clinical evidence of spine orthopedic devices compared to other treatments, such as drug therapy, are expected to increase during the forecast period.
Factors, such as high prevalence of orthopedic diseases, presence of large pool of patients, and rise in awareness about treatment for complex orthopedic disorders, drive the market growth in the emerging economies, especially APAC. Further, the increase in government spending in healthcare, infrastructure, research centers, and establishing of manufacturing facilities by major vendors in the market are influencing the high growth of the market.
Key Players: Zimmer Biomet Holding, Inc, DePuy Synthes, Inc., NuVasive, Inc, Stryker Corp, and Medtronic PLC, and other predominant & niche players.
Competitive Analysis: 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.
Benefits: The report provides complete details about the usage and adoption rate of orthopedic devices in various spine orthopedic diseases and regions. Thus, key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives toward the orthopedic products adoption in the upcoming years. It also provides details of commercial orthopedic devices available in the market. Moreover, the report details about the major challenges that are going to impact the market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders that will help them expand their business and capture revenue in the specific verticals.
Key Stakeholders:

Table of Contents
1 Industry Outlook 10
1.1 Industry Overview 10
1.2 Definition: Orthopedics 10
1.3 Healthcare spending in the US 12
1.4 Reimbursement Scenario 12
1.5 Emerging Global Markets 13
1.6 Musculoskeletal disorders 14
1.6.1 Knee Implants 16
1.6.2 Hip Implants 16
1.6.3 Ankle & Foot Implants 16
1.6.4 Shoulder Implants 16
1.6.5 Spine Implants 16
1.6.6 Trauma Fixation Devices 16
1.6.7 Sports Medicine Devices 17
1.6.8 Orthobiologics 17
1.7 Industry Trends 17
2 Report Outline 18
2.1 Report Scope 18
2.2 Report Summary 18
2.3 Research Methodology 19
2.4 Report Assumptions 19
3 Market Snapshot 20
3.1 Total Addressable Market (TAM) 20
3.2 Segmented Addressable Market (SAM) 21
3.2.1 Definition 21
3.2.2 Importance of spine surgery devices 22
3.2.3 Surgical approach 22
3.2.4 Fixation Devices (spine implants) 23
3.2.5 Spine accessories 23
3.2.6 Biomaterials 23
3.3 Related Markets 24
3.3.1 Surgical Devices Market 24
3.3.2 Biomaterial Market 24
3.3.3 Dental Implant Market 25
3.3.4 Energy-Based Aesthetic Devices Market 25
4 Market Outlook 25
4.1 Overview 25
4.2 PEST Analysis 27
4.3 Porter 5(Five) Forces 28
5 Market Characteristics 30
5.1 Evolution 30
5.2 DRO – Global Spine Orthopedic Devices Market Dynamics 32
5.2.1 Drivers 33 Rise in the prevalence of spinal disorders 33 Growing popularity of minimally invasive surgeries 34 Rise in elderly population 34 Increase in number of outpatient procedure 34
5.2.2 Opportunities 34 Adoption of spinal navigation technology 34 Increase usage of orthopedic biomaterials in spine surgery 35 Increase healthcare spending 36 Increase in mergers & acquisitions 36
5.2.3 Restraints 36 High cost of spine surgery procedures 36 Complications and risk associated with spine surgeries 37 Stringent regulatory framework and labeling requirement 37 Poor reimbursement policies 38 Intense competition among vendors 38
5.2.4 DRO – Impact Analysis 38
5.2.5 Key Stakeholders 39
6 Types: Market Size and Analysis 41
6.1 Overview 41
6.2 Fixation devices (implants) 43
6.2.1 Overview 43
6.3 Spine instruments 45
6.3.1 Overview 45
6.4 Biomaterials 46
6.4.1 Overview 46
7 End User: Market Size and Analysis 48
7.1 Overview 48
7.2 Hospitals 49
7.3 Ambulatory Care 49
7.4 Trauma Centers 50
8 Regions: Market Size and Analysis 51
8.1 Overview 51
8.2 North America 53
8.2.1 Market Overview 53
8.3 Europe 54
8.3.1 Market Overview 55
8.4 APAC 56
8.4.1 Market Overview 56
8.5 Rest of the World 58
8.5.1 Market Overview 58
9 Competitive Landscape 61
9.1 Overview 61
10 Vendor Profiles 62
10.1 Johnson & Johnson (DePuy Synthes, Inc) 62
10.1.1 Overview 62
10.1.2 Business Unit 66
10.1.3 Geographic Presence 67
10.1.4 Business Focus 68
10.1.5 SWOT Analysis 69
10.1.6 Business Strategy 69
10.2 Stryker Corp. 70
10.2.1 Overview 70
10.2.2 Business Unit 73
10.2.3 Geographic Presence 74
10.2.4 Business Focus 75
10.2.5 SWOT Analysis 76
10.2.6 Business Strategy 76
10.3 Medtronic PLC 77
10.3.1 Overview 77
10.3.2 Business Units 84
10.3.3 Geographic Presence 85
10.3.4 Business Focus 86
10.3.5 SWOT Analysis 86
10.3.6 Business Strategies 87
10.4 NuVasive, Inc. 88
10.4.1 Overview 88
10.4.2 Key Highlights 88
10.4.3 Business Unit 90
10.4.4 Geographic Presence 90
10.4.5 Business Focus 91
10.4.6 SWOT Analysis 91
10.4.7 Business Strategy 92
10.5 Zimmer Biomet Holdings, Inc 92
10.5.1 Overview 92
10.5.2 Business Unit 96
10.5.3 Geographic Presence 97
10.5.4 Business Focus 98
10.5.5 SWOT Analysis 98
10.5.6 Business Strategy 99
11 Companies to Watch For 100
11.1 Alphatec Spine 100
11.1.1 Overview 100
11.1.2 Key Highlights 100
11.1.3 Business Strategies 100
11.2 K2M 101
11.2.1 Overview 101
11.2.2 Key Highlights 101
11.2.3 Business Strategies 101
11.3 SeaSpine Holdings Corp. 102
11.3.1 Overview 102
11.3.2 Key Highlights 102
11.3.3 Business Strategies 102
11.4 Orthofix International N.V. 102
11.4.1 Key Highlights 103
11.4.2 Business Strategies 103
11.5 OMNIlife Science 103
11.5.1 Overview 103
11.6 Orthofix International N.V. 104
11.6.1 Key Highlights 104
11.6.2 Business Strategies 104
12 Other Prominent Vendors 105
Annexure 106
Abbreviations 106

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Zimmer Biomet Holding, Inc, DePuy Synthes, Inc., NuVasive, Inc, Stryker Corp, and Medtronic PLC, and other predominant & niche players.
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