Business Alliances to Open New Growth Opportunities for Players in Spinal Trauma Devices Market

Spinal trauma devices are used to stabilize the posterior area of spine while allowing motion and limiting the compression to the affected area of the spine. Spinal trauma devices have been categorized into two segments based on type: internal fixation devices, and external fixation devices. The application of these devices is mainly based on the type of injury. Internal fixation devices involve surgical implementation of implants to fix broken bone. External fixation devices are majorly used to stabilize bone. The internal fixation devices dominated the global spinal trauma devices market accounting for the share of 60.5% of the global in 2014. Internal fixation devices is further sub-segmented into plate and screw, rods and pins, and bone grafts. Plate and screw was the largest sub-segment of the internal fixation devices segment, accounting for a share of 60.1% in 2014 due to rigid internal fixation related to the overall attachment process and improved stabilization without the need to compress the bone. While, bone grafts segment was anticipated to be the fastest growing segment due to reduced possibility of immunological rejection and product innovation in this segment. The major factors driving the internal fixation devices segment are growing demand for cost-effective and highly durable spinal fixation devices. Scientific and technological advancements in the internal fixation and better reliability of internal fixators boost the demand for internal fixation devices. Moreover, internal fixation devices hold an upper-hand as compared to external fixation devices such as, internal fixator aid in achieving accurate anatomic reduction which is significant to minimize the chances of post-traumatic arthritis, thereby driving the growth of the internal fixation devices segment during the forecast period from 2015 to 2023.

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The external fixation devices segment is anticipated to witness a sluggish growth rate during the forecast period of 2013 to 2015. The external fixation devices include Ilizarov devices, spinal cord stimulators, robotic exoskeletons, spinal braces, collars and halo vests. Ilizarov devices are the most significant type and widely used external fixation device majorly used for bone lengthening.

Geographically, North America dominated the spinal trauma devices market in 2014 with a share of 47.2% due to factors such as advancements in product designs and technologies and government initiatives related to awareness of bioresorbable materials among the people. Rising prevalence of spinal abnormalities and deformities and large number of accident cases associated with automobiles and sports are the other factors supporting the market growth. Asia Pacific is projected to be the most lucrative market for spinal trauma devices and is expected to expand at the highest growth rate of 7.1% from 2015 to 2023. Factors propelling the growth of the spinal trauma devices market in Asia Pacific are rising disposable income, high affordability of expensive medical treatments, and rising health care awareness among the people.

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Medtronic dominated the spinal trauma devices market in 2014 with a market share of 32.8%. Major factors attributed to its dominance are broad product portfolio and high market penetration. DePuy Synthes secured the second market position with a share of 24.6% in 2014 offering a wide range of spinal trauma devices. Stryker Corporation held the third position and accounted for a share of 9.2% in 2014. Other players in the spinal trauma devices market include Smith & Nephew, NuVasive, Inc. Zimmer Biomet, Globus Medical, Inc. and others. These players have worldwide presence in the spinal trauma device industry and are involved in constant product development and competition with each other.

Table of Content

1. Preface

2. Executive Summary

3. Global Spinal Trauma Devices Market – Industry Analysis

4. Market Segmentation – By Type

5. Spinal Trauma Devices Market – Regional Analysis

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