The global spinal fusion devices market boasts of an intense level of
competition amongst several large and small-sized players. In this
scenario of cut-throat competition, it is important for every player
to have a substantial consumer base in order sustain itself within
the market. Transparency Market Research (TMR) outlines key
strategies adopted by leading market players aiming to retain their
supremacy in the market. Amongst these strategies is strategic
acquisition which is expected to transcend as the most effective
business hack in the coming years.
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Furthermore, the market players have quintessentially been focused
towards introducing new products in the market to attract a wider
consumer base and exert their influence in the market. The leading
market players include Alphatec Holdings Inc., Titan Spine LLCZimmer
Biomet Holdings Inc., Exactech Inc., Stryker Corporation, K2M Group
Holdings Inc., Globus Medical Inc., NuVasive Inc., Medtronic plc,
Depuy Synthes, and B. Braun Melsungen AG. These players are projected
to expand their product portfolio in order to establish their
soundness in the market.
Transparency Market Research (TMR) forecasts a growth graph of the
market over the period from 2017 to 2025. The market is expected to
inflate at a steady CAGR of 4.65% over the forecast period, and he
market is expected to be worth US$10,965.7 mn by 2025. Based on the
type of product, the thoraco-lumbar fixation devices reigned over all
other segments in this category in 2016. This segment is expected to
harness positive results for the market in the coming years, and is
anticipated to continue its lead in terms of revenue share. Based on
regions, North America transcended as the most lucrative regional
market in 2016, and is expected to continue its streak of supremacy
over the coming years.
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Product Innovation to Boost Market Growth
The heavy instance of back pain amongst people has raised concerns
amongst the medical circles to find swift and effective cures for it.
This has brought the spinal fusion devices under the spotlight of
attention and has popularized them across the globe. Cases of spinal
disorders in recent times are greater than the previous number,
mostly owing to the rising geriatric population. This has created
demand for spinal fusion across the globe and has generated
tremendous demand in the market. The sedentary lifestyles of the
people have become the cause of several diseases, disorders, and
ailments out of which the most common are spinal dysfunctions.
As people become laidback in their demeanor, they are bound to
experience spinal disorders. Hence, lifestyle changes have also
played a major part in propelling demand within the market.
Furthermore, patients who have suffered back pain for prolonged
periods of time are quick to resort to any new treatment device that
is introduced in the market. Hence, the research and development
initiatives to make better spinal fusion devices are expected to
contribute significantly to the market. The leading players in the
market have offset a range of initiatives to produce technologically
advanced products, which shall keep market demand soaring high.
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Supremacy of North American Market
The global market for spinal fusion devices is led by North America,
and the regional market registered the highest market revenue in
2016. The region has outshone all other geographical segments on
account of the impetus given to healthcare infrastructure.
Furthermore, novel products introduced by key market players coupled
with a high awareness quotient has also contributed to regional
market growth. The other geographical segments are Latin America, the
Middle East and Africa, Asia Pacific, and Europe.
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