Interventional Spine Devices Market: Introduction
- Interventional spine procedures are used to manage and treat back pain and spine conditions.
- Interventional spine medicine uses special imaging technologies and minimally invasive procedures to not only identify the location of the pain but treat it right at its source.
- Common interventional spine procedures include radiofrequency neurotomy, vertebroplasty, kyphoplasty, and epidural steroid injections.
- Kyphoplasty is a minimally invasive stabilizing surgery that helps treat pain related to vertebral compression fractures and reestablishes any spine height that was lost due to the vertebra failure or breakdown.
- Vertebroplasty is an outpatient procedure that involves the injection of special medical-grade bone cement through a slight incision in the patient’s skin.
- Epidural steroid injections are a combination of a pain relief medicine, and a strong anti-inflammatory medicine that is injected into the facet joint, nerve root, and sacroiliac (SI) joints with instruction from a fluoroscope.
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Key Drivers of the Global Interventional Spine Devices Market
- Increase in the incidence of bone and spine disorders is expected to drive the market for interventional spine devices during the forecast period.
- The last few years has seen a substantial increase in the incidence of spinal disorders across the globe. The most common spinal disorders include degenerative disc disease, spinal stenosis, spondylolisthesis, prolapsed intervertebral disc, and herniated discs.
- Additionally, increase in mergers and acquisitions by key players in the market is expected to drive the interventional spine devices market during the forecast period.
- For instance, in January 2017, DePuy Synthes Products, Inc. (a subsidiary of Johnson & Johnson) acquired Interventional Spine, Inc. based in California, U.S. It is a privately held manufacturer of minimally invasive surgery (MIS) technologies and expandable cage for spinal fusion. The acquisition is expected to accelerate the growth of DePuy Synthes in spine products.
Kyphoplasty Expected to be Fastest Growing Segment of the Market
- Based on procedure types, the global interventional spine devices market can be divided into vertebroplasty, kyphoplasty, radiofrequency ablation, and others.
- The kyphoplasty segment is anticipated to be the fastest growing segment of the global interventional spine devices market during the forecast period
- Factors such as availability of reimbursement options for kyphoplasty procedures in developed countries such as the U.S. is expected to drive the segment during the forecast period.
Ambulatory Surgical Centers Segment to Offer Attractive Opportunities
- In terms of end-user, the global interventional spine devices market can be classified into hospitals, ambulatory surgical centers, and others
- The ambulatory surgical centers segment is expected to offer significant opportunities during the forecast period.
- Surgeries such as vertebroplasty, and kyphoplasty are less complicated, and they do not require an overnight stay. Ambulatory surgical centers offer convenient facilitates in the U.S. as an alternative to hospital-based outpatient procedures. Thus, the segment is expected to expand at a higher rate during the forecast period.
North America to Dominate the Global Interventional Spine Devices Market
- In terms of region, the global interventional spine 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 interventional spine devices market during the forecast period.
- Increase in number of people with spinal disorders such as spondylolisthesis, scoliosis injuries, and osteoporosis, and improved healthcare infrastructure are expected to drive the interventional spine devices market in the region.
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Key Players Operating in Global Interventional Spine Devices Market
The global interventional spine devices market is concentrated with the presence of international and few local players. Key players operating in the global interventional spine devices market are:
- DePuy Synthes Products (Johnson & Johnson)
- Medtronic Plc
- Nuvasive Inc.
- RTI Surgical Holdings, Inc.
- Stryker Corp.
- Zimmer Biomet Holdings Inc.
- Abbott Laboratories
- Alphatec Holdings Inc.
- Globus Medical Inc.
- Integra LifeSciences Corp
Global Interventional Spine Devices Market: Research Scope
Global Interventional Spine Devices Market, by Application
- Radiofrequency Ablation
Global Interventional Spine Devices Market, by End-user
- Ambulatory Surgical Centers (ASCs)
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.