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Thoracolumbar Spine Devices Market Trends with Growth Statistics 2021, Size, Business Demand, Top Countries Data with Share Evaluation, Key Segmentation and Competitive Strategy till 2027

Thoracolumbar Spine Devices market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Thoracolumbar Spine Devices market by region.

Thoracolumbar Spine Devices Market is expected to register a CAGR of 3.72% to reach USD 8,484.7 Million by 2025.

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Generally, the increasing obese population, high prevalence of spinal cord injuries (SCI), and increasing geriatric population are expected to enhance market growth. Nevertheless, the stringent regulatory policies, lack of awareness for the use of advanced technologies, and product recalls are projected to curb the growth of the market.

Thoracolumbar junction is the junction between the thoracic spine and the lumbar spine. The junction involves of the part of the vertebral column from the eleventh thoracic vertebra to the first lumbar vertebra. Thoracolumbar spine devices are used in this region to deliver steady support to the spine and avert bending of the thoracic spine.

According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).

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Major players
The proposed spectators in the Global thoracolumbar spine devices market are manufacturers, Retailers, distributors, wholesalers, Investors and trade experts, Governments, associations, industrial bodies, etc. The major companies functioning in the Global thoracolumbar spine devices market are concentrating on firming their global ways by entering into untouched markets.

The projected onlookers in the Global thoracolumbar spine devices market are companies like Alphatech holdings, Inc. (US), B. Braun Melsungen AG (Germany), Depuy Synthes (US), Exactech, Inc. (US), Orthofix Holdings, Inc. (US), Globus Medical, Inc. (US), Medtronic PLC (Ireland), NuVasive, Inc. (US), Zimmer Biomet holdings, Inc. (US), Stryker corporation (US) and Globus Medical, Inc. (US),

Market segmentation
The Global thoracolumbar spine devices market, by product type, has been segmented into spinal implants, devices and instrumentation and spine biologics respectively. Corresponding to a study published by the National Spinal Cord Injury Statistical Center in 2019, the annual incidence of SCI is approximately 54 per million people in the US or around 17,730 new cases each year.

The approximate number of individuals affected by SCI in the US is 291,000. High prevalence of spinal cord injuries, in turn, increases the demand for thoracolumbar spine devices used in analysis. Thus, an increase in the prevalence of spinal cord injuries is expected to boost the global thoracolumbar spine devices market for the duration of the forecast period. The market is expected to witness a profitable growth owing to the high prevalence of spinal cord injuries (SCI).

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Based on the type of surgery

open surgery and minimally invasive surgery (MIS). The material segment is further segmented as titanium, stainless steel, biomaterials, and others.

Based on end-user

hospitals and clinics, ambulatory surgery centers, academic institutions and research centers, and others.

Regional analysis
Geographically the Global thoracolumbar spine devices market is split in regions like North & South America, Europe, Asia-Pacific, Middle east and Africa and Rest of the world. Europe is anticipated to account for the second-largest market share during the forecast period.

The market expansion in Europe can be attributed to the research and development by manufacturers for the launch of innovative products. For instance, ZygoFix Ltd, in 2018, initiated the first in a human clinical study for its clock spinal facet joint fixation system. Americas settled for the largest market share of in 2018, due to the presence of key market players, sophisticated healthcare infrastructure, and increasing R&D in the field of thoracolumbar spine devices.

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Asia-Pacific is likely to be the fastest-growing region in the global thoracolumbar spine devices market. The high growth rate is due to owing to the presence of a large patient base, availability of skilled healthcare personnel, and a defined regulatory framework facilitating enhanced product approvals. India held a share of 16.2% in the Asia-Pacific thoracolumbar spine devices market in 2018.

The Middle East & Africa market is projected to show gradual growth during the forecast period. The Middle East would spearhead the market growth, attributing to facts such as the developing healthcare transportation, booming medical tourism, budding medical device industry, and gradually expanding adoption of medical analysis modalities in the Gulf Cooperation Council (GCC).



What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes. During the forecast period, the report analyzes the growth rate, market size, and market valuation. The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets. The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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Updated : 2022-05-23 07:48 GMT+08:00