The Thoracolumbar Stabilization Devices Market Size is valued at 1.20 Bn in 2022 and is predicted to reach 1.86 Bn by the year 2031 at a 5.2% CAGR during the forecast period for 2023-2031.
Key Industry Insights & Findings from the Report:
- The rising need for thoracolumbar stabilization devices, driven by factors like spinal injuries and disorders, contributes to market expansion.
- Continuous innovation in stabilization devices drives market growth by offering improved products and solutions.
- North America dominated the market and accounted for a global revenue share in 2023.
- The critical challenge for the thoracolumbar Stabilization Devices Market is the high basic cost of these devices.
The thoracic and lumbar areas of the spine are supported and stabilized by thoracolumbar stabilization devices, which are medical implants. These devices are made to treat a number of spine diseases, including spondylolisthesis, scoliosis, degenerative disc disease, fractures, and more. The world's aging population significantly influenced the marketn because older people are more susceptible to degenerative spinal disorders.
Thoracolumbar stabilization devices have become more popular as spinal illnesses such as degenerative disc disease, spinal stenosis, and vertebral fractures have increased. Thoracolumbar stabilization operations have been helped by the government and insurance companies' favourable reimbursement policies. These policies improved the availability and affordability of the treatments for patients, which increased the demand for stabilization devices.
However, the epidemic affected global supply networks, especially those for medical devices. The supply of some products may have been impacted, or shortages may have resulted from delays in the manufacturing and distribution of thoracolumbar stabilization devices.
Competitive Landscape:
Some Major Key Players In The Thoracolumbar Stabilization Devices Market:
- Braun Melsungen AG
- Zimmer, Inc.
- Cologne AG
- Yellowsteps SAS
- Medyssey Co. Ltd.
- DePuySynthes Company
- Aesculap Implant Systems, LLC
- Ulrich Medical
- Medtronic Public Limited Company
- Stryker
Market Segmentation:
The thoracolumbar stabilization devices market is segmented on the basis of device type, material, and end-use. First segment is device type, the market is segmented into anterior stabilization devices, posterior stabilization devices, and retractors. The material segment includes titanium and stainless steel. at the end, End-Ese segment is divided into hospitals, clinics, and ambulatory surgical centres.
Based On End-Use, The Hospital's Segment Is Accounted As A Major Contributor In The Thoracolumbar Stabilization Devices Market
The hospital is expected to hold a major share of the global Thoracolumbar Stabilization Devices Market in 2021. In order to properly instruct surgeons and other healthcare workers in the use of thoracolumbar stabilization devices, hospitals are an essential resource. This guarantees that the medical team is competent to carry out these treatments securely and successfully. Hospital financial concerns and patient affordability for thoracolumbar stabilization surgeries and devices are influenced by the availability and level of reimbursement for these procedures. Hospital use of particular equipment may be encouraged by favourable reimbursement schemes.
The Posterior Stabilization Device Segment Witnessed Growth At A Rapid Rate
The posterior stabilization device segment is projected to maximize at a rapid rate in the global Thoracolumbar Stabilization Devices Market. They are frequently employed in spinal operations to stabilize and support the thoracolumbar spine when the patient is approached from the posterior (back) approach. These devices address numerous spine disorders, including fractures, degenerative disc degeneration, spinal abnormalities, and instability.
In The Region, The North America Thoracolumbar Stabilization Devices Market Holds A Significant Revenue Share
The North America Thoracolumbar Stabilization Devices Market is likely to register the maximum market share in terms of revenue in the near future. Owing to the existance of significant market players that produce and market thoracolumbar stabilization devices in the region, North America is expected to account for the highest share of the global market for these devices. Additionally, the increasing number of spine and back injuries in this area is driving up demand for the product. The Asia Pacific region is anticipated to go upward at the fastest rate during the projected period due to the vast patient pool, evolving healthcare infrastructure, and rising levels of public awareness in the region. The region's expanding healthcare infrastructure, particularly in China, India, and Japan, has increased demand for thoracolumbar stabilization devices.
Recent Developments:
- In Oct 2022, Stryker introduced the Monterey AL Interbody System, a self-contained interbody fusion device specifically engineered for anterior lumbar interbody fusion (ALIF). The Monterey AL implant incorporated a combination of solid and porous materials, making use of Stryker's Tritanium In-Growth Technology. This substance was specifically designed to replicate cancellous bone, providing an optimal environment for the regeneration and fusing of bone.
Thoracolumbar Stabilization Devices Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 1.20 Bn |
|
Revenue Forecast In 2031 |
USD 1.86 Bn |
|
Growth Rate CAGR |
CAGR of 5.2% from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Device Type, Material, End-Use |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
B. Braun Melsungen AG, Zimmer, Inc., Cologne AG, Yellowsteps SAS, Medyssey Co. Ltd., DePuySynthes Company, Aesculap Implant Systems, LLC, Ulrich Medical, Medtronic Public Limited Company, Stryker |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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