Facet Joint Injections Market: Overview
Facet-related spinal pain for non-specific low back pain pose considerable challenge for radiologists and clinicians in finding the right set of interventional tools. The reason has to do with nonspecific clinical features and radiological findings. For patients suffering with facet-joint pain, the condition is debilitating and often leads to physical deconditioning, restricted daily motion, and muscle spasm. In the backdrop of the substantial burden of facet-joint pain, the facet joint injections market has made a swift emergence. A significant proportion of the target population is 30–50 years, which adds to the morbidity. The facet joint injection market has seen the growing traction of imaging-guided injections in outpatient procedures. The injectable consists mainly of local anesthetic and steroids.
Key application segments in the facet joint injections market are cervical facet joints, thoracic facet joints, and lumbar facet joints. In the evolution process, a number of spinal injections have been tested for their effect in reducing pain intensity and improving rehabilitation. There is an unmet need for more research on different injectable and associated outpatient procedures with the goal of improving diagnostic accuracy, safety, and reproducibility.
Facet Joint Injections Market: Key Trends
The study on the facet joint injections market offers critical assessment of key growth dynamics, the market scope on major clinical trials, and clinical trends that have substantial industry potential. The research presents a scrutiny of how the competitive landscape is evolving and the various facets of the adoption of the procedures related to facet joint injections.
The drive for the facet joint injections market stems from the demand for improving the outcomes of the current therapeutics and diagnostics. Growing adoption of these injections in outpatient procedures is a key trend boosting the market’s growth.
The epidemiology of facet joint pain is a key underpinning for key research and development in the facet joint injections market. More than two thirds of the population globally suffer from back pain, with chronic pain prevalent in young adults. The high incidence and prevalence of chronic spine pain is a key factor boosting the demand in the facet joint injections market. Though in most cases, episodes in the spinal pain are short-lived but in recent years, the recurrence rate is significant-- 28% to 75%, according to several of the recent studies. The high economic burden of facet joint injections in terms of loss of productivity is a key trend boosting the market.
The unmet need of diagnosis of spinal symptoms is a key aspect boosting the facet joint injections market. The use of local anaesthetic with prolonged effect and depot steroid preparations is a key trend boosting the market. Technological strides made in imaging-guided intra-articular injection are expanding the avenue in the facet joint injections market. The growing use of high-quality C-arm fluoroscopy in therapeutic interventions in outpatient procedures has bolstered the prospects in the market.
Facet Joint Injections Market: Competitive Analysis and Key Developments
Growing number of randomized clinical trials for assessing the outcomes of current diagnostic and therapeutic procedures are expanding the competitive landscape in the facet joint injections market. owing to growing burden of non-specific low back pain, companies looking for substantial stakes in the facet joint injections market are leaning on conducting targeted lumbar facet-joint injections. Regulatory agencies have turned their attention toward low back pain on adults. A case in point is updating of guidelines by the National Institute for Health and Care Excellence (NICE) guidelines. A number of multicenter studies in the U.K. have upped the ante for industry players in the market.
Some of the key players in the facet joint injections market are Sigma-Aldrich, Symbiotec Pharmalab Private Limited, Avik Pharmaceuticals Ltd., Bristol-Myers Squibb Company, Bausch Health Companies Inc., Aspen Pharmacare, Henry Schein Medicalt, Pierrel, and Primex Pharmaceuticals Oy.
Facet Joint Injections Market: Regional Assessment
The facet joint injections market is witnessing substantial revenue streams in North America, Europe, and Asia Pacific. The prospects of facet joint injections have risen on the back of extensive research and development activities focused toward lowering the morbidity and burden of non-specific low back pain in the U.S. have driven the rapid expansion. The opportunities have also seen rapid rise in Europe, expanding on the back of pathophysiology of the facet syndrome. Advances made in diagnosis of the facet syndrome are boosting the growth of the Europe market.
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.