Global Spinal Surgery Market to Exceed $11.5 Billion by 2015, According to New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Spinal Surgery market. The world market for spinal surgery is projected to exceed $11.5 billion by the year 2015. This is primarily driven by a rapid rise in the number of patients suffering from chronic back pain, aging population, and the introduction of advanced technologies. Additionally, enhanced adoption of new technologies by surgeons and patients also will contribute to the market growth.
San Jose, CA (PRWEB) June 30, 2009 -- Spinal surgery, as a popular back pain treatment has been in practice for several years and has improved significantly with experience and time. Patients primarily suffer from back pain in their old ages and thus rise in the aging population group remains a key growth driver for the market. With aging population, technological advancements and increased adoption of innovative technologies by surgeons, the spinal surgery market is characterized by substantial growth and innovations.
The United States and Europe dominates the world spinal surgery market as stated by the new market research report on spinal surgery. Back pain surgery/spinal surgery is one of the most widely performed surgeries in the US. Expanding number of chronic back conditions and injuries, advent of minimally invasive surgical procedures, and new product approvals are expected to foster growth in the spinal implants market. Although matured, spinal fixation and fusion devices account for the majority of the market, while disc replacement devices, kyphoplasty, vertebroplasty and vertebral compression fracture devices are making their presence felt. Although disc replacements have been in use in Europe for a quite long time, the US has shown significant interest in the technology in recent times resulting in rise in number of FDA sponsored clinical trials.
Asia-Pacific represents the fastest growing market for spinal surgery. Factors contributing to the growth include rising awareness regarding treatment of spinal disorders, enhanced spending power of patients, rising obese population and rise in spinal injury cases. Spinal fixation devices dominate the region's spinal surgery market.
The market for Spinal Surgery devices is highly consolidated. Competition is particularly high in motion preservation and minimally invasive devices segment. Several companies are now shifting focus from fusion business to other advanced spinal segments such as artificial discs, annulus repair and nucleus replacement devices. Key players profiled in the report include Alphatec Spine Inc., Altiva Corporation Inc., Biomet, Inc., Depuy Spine Inc., Medtronic Inc., Kyphon Inc., NuVasive Inc., Orthofix International N.V., Orthovita Inc., SCIENT'X SA, Smith & Nephew Plc, SpineVision Inc., Stryker Corporation, Synthes Inc., and Zimmer Spine Inc., among others.
The report titled "Spinal Surgery: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, competitive scenario, technological overview, product introductions/innovations, and recent industry activity. The study analyzes market data and analytics in terms of value sales for regions including The United States, Europe, Asia-Pacific and Rest of World by the following segments - Spinal Fusion Devices, Spinal Fixation Devices, Artificial Discs, and Vertebral Compression Fracture Devices.
For more details about this comprehensive market research report, please visit - http://www.strategyr.com/Spinal_Surgery_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press (at) StrategyR (dot) com
Web Site http://www.StrategyR.com/
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