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Facet Replacement Devices Market

Facet Replacement Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

Facet Replacement Devices: Introduction

  • Facet joints are connections between bones and spine through which nerve roots pass from spinal cord to the limbs and other parts of the body. These joints facilitate the desired motion such as bending and twisting at each vertebra and keep the gliding motions within limits.
  • Facet replacement devices are primarily used when medical conditions such as arthritis, spinal injury, and facet degeneration hamper the normal functioning of facet joints. Facet replacement devices are implantable medical devices used to replace the damaged facet joints in the spine and restore normal functioning.
  • Multiple factors cause facet degeneration such as obesity, uneven distribution of the weight on facet joints, an injury, repetitive movements, arthritis, and deterioration of the vertebral discs
  • Different types of facet replacement devices have been developed and many different products are under different stages of clinical trials for regulatory approvals

Facet Replacement Devices Market: Key Drivers

  • High prevalence and increase in incidence of spinal disorders and back pain across the globe are projected to drive the global market during the forecast period
  • For instance, every year, around 102 million people across the globe are diagnosed with spinal stenosis, with highest estimated incidence rate in Europe (2.2%) and lowest in Africa (0.94%)
  • Technological advancements in facet joint replacement devices, clinical research & development in artificial facet joints, and new product launches are likely accelerate the growth of the global market during the forecast period
  • However, high cost of surgical procedures and unmet medical needs are projected to hamper the growth of the market in the near future

Total Posterior Systems Segment to Lead Global Market

  • In terms of product type, the global facet replacement devices market can be classified into total posterior systems (TOPS), total facet arthroplasty system, dynamic stabilization system, stabilimax NZ, and others. The total posterior systems segment is projected to dominate the global market during the forecast period. Wide applications of the TOPS systems in treatment of degenerated facet joints, lumbar spinal stenosis, and spondylolisthesis is likely to contribute to the segment’s dominant market share during the forecast period.

Hospitals Segment to Dominate Global Market

  • Based on end-user, the global facet replacement devices market can be categorized into hospitals, ambulatory surgery centers, and others. The hospitals segment is projected to dominate the global market during the forecast period. Large number of implantable surgical procedures carried out at hospitals, rapid increase in number of orthopedic specialty hospitals in emerging countries, and availability of desired infrastructure at these centers are attributed to the hospital segment’s dominance of the market.

Asia Pacific Facet Replacement Devices Market to Expand Rapidly

  • In terms of region, the global face replacement devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America is projected to dominate the global facet replacement devices market during the forecast period. High prevalence and increase in incidence rate of spinal stenosis, surge in geriatric population, and increase in diagnosis rates in the region are the key factors expected to boost the growth of the market in North America during the forecast period.
  • The facet replacement devices market in Asia Pacific is likely to expand at a high CAGR during the forecast period. This can be ascribed to a rise in the number of people suffering from low back pain in densely populated countries, such as India and China, and improvement of health care infrastructure in the region.
  • Significant growth of the health care industry, easy access to health care facilities, and increase in investments in health care by leading players in Asia Pacific are projected to augment the market in the region in the near future

Key Players Operating in Global Facet Replacement Devices Market

The global facet replacement devices market is consolidated, with a small number of international players holding majority share in the global market. Prominent players operating in the global facet replacement devices market include:

  • Premia Spine
  • ZygoFix Ltd.
  • Globus Medical, Inc.
  • RTI Surgical.
  • Rachiotek LLC

Global Facet Replacement Devices Market: Research Scope

Global Facet Replacement Devices Market, by Type

  • Total Posterior Systems (TOPS)
  • Total Facet Arthroplasty System
  • Dynamic Stabilization System
  • Stabilimax NZ
  • Others

Global Facet Replacement Devices Market, by End-user

  • Hospitals
  • Ambulatory Surgery Centers
  • Others
Facet Replacement Devices Market

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