Corpectomy System: Introduction
- Corpectomy systems provide a solution for stabilization of the spine in skeletally mature patients to replace a diseased, collapsed, damaged, or unstable vertebral body due to tumor, osteomyelitis, trauma (i.e. fracture), or for reconstruction following corpectomy performed to achieve decompression of the spinal cord and neural tissues in degenerative disorders. The system is offered in static and expandable PEEK cage options. This versatile system allows for visibility of postoperative fusions and clarity for postoperative tumor assessment.
Key Drivers and Restraints of Global Corpectomy System Market
- According to the U.S. Census Bureau, the geriatric population, that is population aged over 65 years, has increased significantly in the past few years and is projected to account for over 16.7% of the total population in 2050. Rise in geriatric population is likely to increase the vertebral instability in this group. This is expected to drive the demand for corpectomy system. This, in turn, is anticipated to contribute to the growth of the market during the forecast period.
- Awareness among the people about various cervical degenerative disorders and available treatments has been increasing. A number of dedicated websites providing information related to cervical degenerative disorders and their treatments are available on the internet. These websites are gaining an advantage of Internet and contribute a plethora of information available to the patients related to the cervical degenerative disorders and spinal fusion treatments.
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- All spinal surgeries are associated with complications and risks, which could make patients wary of opting for them. These risks can sometimes weigh down the benefits associated with the implant and restrain the market. The most common risk associated with surgeries include the failure to relieve the lower back pain symptoms which is noticed in over 20% of all the spinal fusion surgeries. This outcome is commonly referred to as “failed back surgery syndrome”.
- Certain research-oriented companies such as Stryker Corporation, B. Braun Melsungen AG, and Medtronic are working on developing advanced expandable corpectomy systems. Introduction of expandable corpectomy system at an affordable price would boost the global corpectomy system market during the forecast period, owing to added benefits of the technology. The corpectomy system options are expensive; hence, the costs of premium priced corpectomy systems are likely to hinder the growth of sales revenue of the market over the forecast period. Affordable pricing policy of governments and patient support programs are expected to support growth of the corpectomy system market.
Asia Pacific to Lead Global Corpectomy System Market
- In terms of geography, the global corpectomy system market is segmented into five key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe are expected to hold major share in the corpectomy system market during the forecast period, owing to developed healthcare infrastructure in the region and large patient population along with increasing technological development. According to the National Statistics Group, health spending is projected to increase at an average rate of 5.8% from 2012 to 2022 in the U.S, which is 1% faster than expected average annual growth in GDP. Rising health care spending has been identified as one of the major factors supporting growth of the surgical procedures market in the U.S. Asia Pacific is expected to expand at a higher growth rate during the forecast period. Increase in health care spending and improving health care infrastructure in the region are expected to drive the overall orthopedic treatment market that lead to rise in sale of corpectomy system during the forecast period. Rising aging population prone to spine instability is one of the major factors considered to propel the global corpectomy system market in the near future.
Key Players Operating in Global Corpectomy System Market
Manufacturers in the global corpectomy system market are increasingly investing in research & development of new and innovative techniques to manufacture advanced products for screening. These players are also focused on offering highly efficient and reliable products.
In March 2020, Nexxt Spine LLC received the FDA 510(k) clearance of the Nexxt Matrixx Corpectomy System. The Corpectomy System is the newest addition to Nexxt Spine’s portfolio. The Nexxt Matrixx Corpectomy System has been cleared for use in the cervical spine (C2-T1) and thoracolumbar spine (T1-L5).
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In September 2019, Medtronic plc launched Synergy Corpectomy, the first and only fully-navigated corpectomy system. It is integrated with O-arm and Stealth to enable pre-surgical planning, real-time navigation, and multiple benefits including virtual sizing of the implant
Leading companies operating in the global corpectomy system market are:
- Camber Spine
- Nexxt Spine LLC
- NuVasive, Inc.'s
- Astura Medical, LLC
- Jayon Implants
- DePuy Synthes Companies (Johnson & Johnson)
- B. Braun Melsungen AG
- ulrich medical
Global Corpectomy System Market: Research Scope
Global Corpectomy System Market, by Application
- Cervical (C2-C7)
- Thoracolumbar (T1-L5)
Global Corpectomy System Market, by End-user
- Specialty Clinics
- Ambulatory Surgical Centers
Global Corpectomy System Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.