Global Spinal Stenosis Implant Market: Overview

One of the major reasons behind spinal stenosis is osteoarthritis (OA), which has largely boosted growth in the global spinal stenosis implants market. The chances of OA are high among women as compared to men according to the data presented by the WHO. This data also presented that more than 10 to 15v percent of adults above 60 years suffer from certain level of OA. Developed countries have a larger number of people suffering it as compared to developing countries.

Presence of large number of geriatric population who are more susceptible to have OA and reside in developed regions are likley to drive demand in the global spinal stenosis implant market. According to Census Bureau reports published in 2016, higher than 8% of the population across globe above 65 years are likely to OA and is expected to touch 17% by the end of 2050. Moreover, sedentary lifestyle and limited physical activity has also boosted growth in the global spinal stenosis implant market. with all these information, increasing regional growth of OA, spinal injuries, and developments taking place in spinal injury treatment will likely to help key market participants operating in the global spinal stenosis implant market.

Global Spinal Stenosis Implant Market: Notable Developments

Leading players in the global spinal stenosis implant market are focusing on various organic and inorganic strategies to strengthen their position in the global market. These players are either making alliance with similar or smaller companies operating in spinal stenosis implants. With this strategy they will get a competitive edge among other players in this market.

For instance, recently Ortho Transmission's transcutaneous osseous integrated skeletal implant technology was acquired by Zimmer Biomet. This technology will help Zimmer Biomet to expand at a large scale and expand its presence in different markets. Another example is of Stryker, who take over Stanmore Implants from SIW Holdings.

Another example is of DePuy Orthopaedics that falls under the DePuy Synthes Companies, a part of Johnson & Johnson, who recently purchased BioMedical Enterprises. These initiatives help companies to make a stronger hold in the market and also give them higher position among the competitors operating on the similar grounds. 

Other key market participants in the global spinal stenosis implant market include Zimmer Biomet Holdings. Inc., RTI Surgical, Inc., Johnson and Johnson (DePuy Synthes), Stryker Corporation, Vertiflex, Inc, Orthofix Holdings, Inc., Premia Spine, Ltd. NuVasive, Inc., and Paradigm Spine, LLC.

Global Spinal Stenosis Implant Market: Trends and Opportunities

Currently, the ongoing trend in the global market is of minimally invasive surgery. People nowadays prefer micro surgery at larger and want lesser stay in hospitals. Therefore, less invasive method of spinal stenosis implants surgery are encouraged by market players operating in the global spinal stenosis implants market. Minimally invasive spinal stenosis implants surgery has better results as compared to traditional open techniques. Thus, due to this ongoing trend, the global spinal stenosis implant market is expected to rise significantly in the coming years.

Increasing Number of Spinal Injuries to Strengthen North America Spinal Stenosis Implant Market

With respect to geography, Europe, Latin America, Asia Pacific, North America, and the Middle East and Africa are the key regions analyzed in the global spinal stenosis implant market. Of these, North America is likely to lead the global market, as the number of spinal injuries in the region has grown rapidly. Moreover, availability of advanced healthcare facilities and presence of well-established organizations including North American Spine Foundation  has made this region led the global spinal stenosis implant market. According to data provided by Spinal Cord, Inc., there are about 276,000 people suffer from spinal injury and this number is gradually increasing, which has boosted growth in this market in North America.

Asia Pacific is estimated to contribute substantially in the growth of the global spinal stenosis implant market. Increasing investment in healthcare facilities and rising spinal cord injuries due to accidents, falls, or violence has boosted demand for spinal stenosis implants in the Asia Pacific region. Moreover, the growing sedentary life and changing lifestyle has developed obesity among large number of people, which can also be termed as another growth factor driving demand in this 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
  • Europe
  • 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.

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Spinal Stenosis Implant Market

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