Spinal intervention involves the treatment of all maladies that afflict the spine. The aim of spinal intervention is pain management, wherein the focus is solely on the spine. The spine consists of 33 bones, which include 12 thoracic vertebrae, seven cervical vertebrae, five sacral vertebrae, five lumbar vertebrae, and four coccygeal vertebrae. The pedicle, which is a stub of a bone that connects the lamina to the vertebral body to form an arch, is crucial in spinal intervention, as it offers a safe and secured tunnel. Through this tunnel, the interventionist examining the spine can get safe access to the vertebral body for vertebroplasty, biopsy, and kyphoplasty. The pedicles located in the cervical area are small and they have poor access to the vertebral body. The size of the pedicles gradually increases from the upper thoracic spine i.e. T4 to the lower lumbar spine i.e. L5. Progressive angulation occurs toward the cervical area from T4. Therefore, both pedicle size and angulation are equally important while planning a transpedicular procedure during intervention.
Spinal decompression is performed to create sufficient space for the nerves in the spinal canal, thereby diminishing the pain caused by neural impingement. Spinal fusion is performed to stop movement at one or more vertebral segments so as to relieve the pain and correct the spinal instability. The aim of spinal fusion is to unwind the spinal nerves that cause pain. This helps restore an appropriate gap between the vertebrae that surround the diseased disc, eliminating the pain caused during movement of the affected part.
Increase in the incidence of complications associated with the spine is one of the factors expected to increase health care costs worldwide. Other major factors are rise in the incidence of neurological diseases and neck deformities caused by obesity and injuries and increase in the incidence of degenerative disc disease, spondylolisthesis, prolapsed intervertebral circle, herniated disc, and spinal stenosis. The global spinal intervention market is expected to expand significantly in the next few years, due to high investments by major players in R&D activities and availability of government funds for promoting advanced technologies. However, lack of skilled, highly qualified, and well-experienced medical practitioners; high costs of surgery; and lack of awareness among patients about diagnosis are expected to be restraining factors for the global spinal intervention market during the forecast period.
The global spinal intervention market can be segmented based on surgery type, procedure type, technology, end-user, and region. Based on surgery type, the market can be segmented into open surgery and minimally invasive (MI) surgery. Due to occurrences of unsuccessful spinal surgeries, speedy research in newly developed techniques has been started to improve the outcome. Advancements in percutaneous techniques used in interventional procedures have lowered the invasive nature of the surgery. They have also avoided issues involved in open surgery such as infection and scarring. Based on procedure type, the global spinal intervention market can be classified into laminectomy, corpectomy, facetectomy, discectomy, and foraminectomy. Facetectomy is a procedure performed to remove the facet cartilage with the spine, which can promote easy fusion of bones. Non-fulfilment of this procedure can leave the facet articular cartilage inside, which may block the bone fusion by permitting the movement and contact between two cartilaginous surfaces in the particular part. Discectomy is a procedure allowing the removal of the herniated disc from the spinal canal. Laminectomy is a back surgery procedure performed to release the compressed spinal cord. Corpectomy is a procedure that helps relieve the damage caused to the vertebrae and the intervertebral discs. Foraminectomy is a spinal surgery procedure that decompresses the spinal nerves strained by the tissues, the disc material, or the bone that has narrowed the foraminal canal. Based on technology type, the global spinal intervention market can be classified into spinal fusion technology, spinal fixation technology, spinal non-fusion technology, annulus repair, dynamic stabilization, artificial disc replacement (or disc nucleus replacement), and vertebral compression fracture treatment. Based on end-user, the global spinal intervention market can be segregated into hospitals, research centers, and others.
Geographically, the global spinal intervention market can be divided into five major regions: North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. The market in North America is expected to lead the global market during the forecast period, due to increasing number of spinal surgeries in countries in the region.
Prominent players operating in the global spinal intervention market are Abbott Laboratories Ltd., Medtronic Inc, Zimmer Biomet Holdings Inc, Orthofix International N.V., Stryker Corporation, Globus Medical Inc, Boston Scientific Corporation, BioControl Medical Ltd., Synapse Biomedical Inc., and DePuy Synthes Inc.
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.