Spinal Devices Market | Latest Report Analysis, Industry Demand, Share
The Global Spinal Devices Market to gain from rapid technological advancements taking place in the market. Recently Fortune Business Insights has published a report, titled Spinal Devices Market Size, Share And Global Trend By Product Type (Internal fixation, External fixation), By Injury Type ( Traumatic spinal cord injury, Non-traumatic spinal cord injury), By End-user (Hospitals & clinics, Trauma centers, Ambulatory surgery centers), And Geography Forecast Till 2026.
Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/spinal-devices-market-100592
Rising Number of Spine Surgeries to Fuel Demand for Medical Devices in Europe
Geographically, the spinal devices market is divided into the Middle East and Africa, Europe, North America, Asia Pacific, and Latin America. Out of these regions, North America is expected to dominate the market owing to strategic collaborations and new product launches. Also, the rising prevalence of spinal diseases would contribute to the market growth. The Centers for Disease Control and Prevention asserted that in 2016, in the U.S., 8.0% of the adults had high-impact chronic pain and over 20.4% of the adults were affected by chronic pain. Hence, it would propel the demand for orthopedic spine devices in this region during the forthcoming period.
Key Players Focus on Bagging FDA Approval & Completing Acquisitions to Widen Product Portfolio
The market consists of numerous large companies that are focused on gaining new contracts in the emerging nations to strengthen their position and have maximum spinal devices market share. Combined with this, they are adopting novel technologies to provide top-quality products to their clients. Here is a list of a couple of the latest developments that occurred in the industry:
November 2019: Difusion Technologies, Inc., a biotechnology company based in Texas, declared that it has received the FDA 510K clearance for Xiphos-ZF, its interbody device. It is considered to be the first spinal implant that is created from ZFUZE, a new biomaterial. Several studies have proved that the ZFUZE material brings about significant reductions in Interleukin 6 and Interleukin 1-Beta. At the same time, it generates a pro-reparative M2 macrophage response. IL6 and IL1-Beta are associated with fibrous tissue formation.
Increasing Availability of High-quality Treatment Options to Boost Growth
The spinal devices industry is exhibiting a tremendous amount of technological advancements. It, in turn, is leading to the launch of a variety of innovative orthopedic devices and implants. They are providing high-quality treatment to those patients who are suffering from spinal disorders. The large patient pool across the world is demanding for customized implants and minimally invasive solutions. All these would augment the spinal devices market growth during the forecast period.