A research study titled, “Motion Preservation Devices Market by Product - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the motion preservation devices market is projected to be around $2.5 billion by 2025.
Degeneration ofintervertebral disc leads to disorders such as spondylolisthesis and spinal stenosis. Motion preservation devices are used for treating patients who suffer from such spine related disorders and deformities. These devices help in restoring and maintaining the normal alignment of the spine. Motion preservation is the most popular procedure for the treatment of disorders related to degenerative disc. This procedure helps to maintain mobility and prevent degeneration of adjacent segments. Elderly people who are more susceptible to spinal disorders due to declining bone density will increase demand for these devices in near future. For instance, according to United Nations, in 2015, globally there were 901 million people aged 60 years or over and this number is expected to reach upto 1.4 billion by 2030.
In 2016, the major share of the global motion preservation devices market was occupied by artificial disc replacement devices segmentdue tohigh adoption of artificial disc replacement devices as compared to spinal fusion devices. The dynamic stabilization devices segment will grow at remarkable CAGR due to use of flexible materials while performing dynamic stabilization procedure for restoring the spine mobility.
In 2016, North America accounted for the largest share of the global motion preservation devices market due to risingincidence of spine related disorders and impairments, and highadoption rateofmotion preservation devices in spine procedures. Asia-Pacific is expected to show high growth rate for motion preservation devices during the forecast period due torising incidences of spine related disorders, rising healthcare expenditure, and improving healthcare infrastructure.
Developing innovative products is the key strategy followed by the major companies. For instance, in July 2016, Medtronic received FDA approval for Prestige LPCervical Disc for treatment of cervical disc disorder which causes spinal cord or nerve compression at adjacent levels between c3 and c7 segments of the neck. This approval helped the company to expand its product portfolio.
The major players operating in motion preservation devices market are, Zimmer Biomet Holdings, Inc., RTI Surgical, Inc., Globus Medical, Inc., Raymedica, Inc., Ulrich GmbH & Co. KG, B. Braun Melsungen AG, Aurora Spine Corporation, DePuy Synthes (a part of Johnson & Johnson), Spinal Kinetics, Medtronic plc,Paradigm Spine, LLC, andHPI Implants.
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Key Findings of the Research Study:
Motion Preservation Devices Market Segmentation: