Spine Augmentation Systems Market: Introduction
- Spine augmentation systems can be defined as devices that perform minimally invasive vertebral surgical procedures. Spine augmentation systems are used for pain management, owing to vertebral compression fractures. These systems are used to make cavity within the vertebral body before the injection of cement during the process of minimally invasive surgical procedure to soothe fractures. Moreover, these augmentation systems are used to conduct various types of surgical procedures: vertebroplasty, balloon kyphoplasty, and others.
- The global spine augmentation systems market is anticipated to expand at a rapid pace during the forecast period, owing to incessant rise in geriatric population, high prevalence of osteoporosis, and market availability of comprehensive product line of spine augmentation systems.
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Key Drivers of Global Spine Augmentation Systems Market
- Increase in percentage of geriatric and obese population is likely to propel the adoption of spine augmentation systems during the forecast period. According to the U.S. Department of Health & Human Product, the geriatric population in the U.S. will reach 72.1 million by 2030. This is expected to be a key factor driving the global spine augmentation systems market during the forecast period.
- Prevalence of these degenerative spine conditions has been increasing and is known to be of common occurrence in population. According to the WHO, 80% to 90% of the U.S. population is affected by degenerative spine diseases; their symptoms ranging from back pain to severe limitations in mobility. Hence, rise in prevalence of spinal diseases is likely to contribute to the growth of the global spine augmentation systems market.
- Awareness among people about various spinal disorders and available treatments has been increasing. There has been a rise in the number of dedicated websites providing information related to spine diseases and their treatment. Moreover, this awareness is boosting the adoption of spinal fusion devices. This factor is expected to fuel the global spine augmentation systems market during the forecast period.
High Risks Associated with Surgeries Hamper Spine Augmentation Systems Market
- Almost every spinal surgery is linked with complications and risks. These risks may often lower the benefits associated with spinal surgeries resulting in hampering the spine augmentation systems market growth. Major risks associated with these surgeries include failure to release lower back pain symptoms. This surgical outcome is usually known as “failed back surgery syndrome”.
- Spinal surgeries majorly lead to changes in the functioning of spine, shifting the stress from fused vertebrae to adjacent areas of the spine. This may cause wear and tear of vertebral joints resulting in further chronic pain and damage. Some other risks associated with spinal surgeries include nerves damage, incisional site infection, anesthetic complications, and bleeding, among others. This factor is likely to hinder spine augmentation systems market growth during the forecast period.
Asia Pacific to Hold a Major Share of Global Spine Augmentation Systems Market
- Asia Pacific is a leading consumer of spine augmentation systems, followed by North America and Europe. China and India are key markets in the region. The two countries account for a combined share of 30% of the demand for spine augmentation systems in the region.
- Increase in population, rise in incidences of orthopedic diseases, and improving economy of China, India, and others countries of Southeast Asia are resulting in high per capita health care expenditure. This is anticipated to drive the spine augmentation systems market in the region.
- The spine augmentation systems market in Middle East & Africa is estimated to expand at a rapid pace during the forecast period. This can be attributed to rise in investments in the health care industry of the region.
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Key Players Operating in Global Spine Augmentation Systems Market:
The global spine augmentation systems market is highly competitive with top manufacturers adopting various strategies for attaining maximum market share. Some of the key players operating in the global spine augmentation systems market are:
- Ackermann Instrumente
- Alphatec Spine
- BM Korea
Global Spine Augmentation Systems Market: Research Scope
Global Spine Augmentation Systems Market, by Product Type
- Balloon Catheter
- Access Sheath
Global Spine Augmentation Systems Market, by End-user
- Orthopedic Clinics
- Ambulatory Surgery Centers
Global Spine Augmentation Systems Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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.