Global Spinal Trauma Devices Market: Overview
The global spinal trauma devices market is expected to witness a substantial growth due to growing awareness about recent medical developments. As per National Spinal Cord Injury Database, the number of registered cases of spinal cord injuries is over 288,000 per year in U.S. itself. Moreover, the major factor that increases this number is aging population of the countries. Since the number of elderly people is higher in the U.S. that youth, the number is expected to lunge even higher in near future. Therefore the growing geriatric population across the globe shall account for major growth of the global spinal trauma devices market.
What Might Impede the Growth of Global Spinal Trauma Devices Market?
High Cost of Hospitalization: Medical services can be highly expensive in some countries. This factor shall impede the growth of global spinal trauma devices market. Since these devices are majorly used by elderly people, they might not be able to afford the expensive devices or the complete treatment that they must take in order to live a normal life after the spinal cord injury. Moreover, the nature of injury might also be critical on elderly people which shall further restrict them from using the devices. This factor shall also hamper the growth of global spinal trauma devices market.
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Changing Insurance Policies: Looking at the growing rate of accidents and spinal injuries across the globe, the insurance companies are modifying their policies. However, these changes might not be in favor of the patients which might hike the cost of the spinal trauma devices. This is another challenge that might hinder the global spinal trauma devices market to showcase desired growth.
Though market is poised with challenges, the stabilizing economy and growing disposable income of the people across the globe shall help the global spinal trauma devices market to have sustainable growth prospect in coming years.
This report on the spinal trauma devices market studies the current and future prospects of the global market. Spinal trauma devices enables stabilization of the posterior area of spine while allowing motion and limiting the compression to the affected area of the spine. Growing incidences of traffic accidents, increasing geriatric population, and increasing number of trauma care centers is expected to accentuate the growth of spinal trauma devices market globally.
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The spinal trauma devices market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments and sub-segments of the market. It also provides information and data analysis of the global spinal trauma devices market with respect to market segments based on the type and their geographic analysis
Based on type, the spinal trauma devices market has been segmented into two major categories: internal and external fixation devices. Internal fixation devices have been further segmented into plate and screw, rods and pins, and bone grafts. The market segments have been extensively analyzed based on usefulness, efficacy, revenue, and geographical coverage. The market size and forecast in terms of USD million for each segment has been provided for the period from 2013 to 2023. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2015 to 2023, considering 2014 as the base year.
Geographically, the global spinal trauma devices market has been categorized into five major regions: North America, Europe, Asia Pacific, Latin America, and Rest of the World. The market size and forecast for each of these regions has been provided for the period from 2013 to 2023, along with their respective CAGRs for the forecast period from 2015 to 2023, considering 2014 as the base year. The research study also covers the competitive scenario in these regions. A detailed qualitative analysis of factors responsible for driving and restraining the growth of the market and future opportunities has been provided in the market overview section. This section of the report also provides market attractiveness analysis, Porter’s Five Forces analysis, and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global spinal trauma devices market.
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A list of recommendations has been provided for new entrants as well as existing market players to assist them in taking strategic initiatives to establish a strong presence in the market. The report also profiles major players in the spinal trauma devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major players profiled in this report include Medtronic plc, DePuy Synthes, Stryker Corporation, NuVasive, Inc., Globus Medical, Inc., Arthrex, Inc., B. Braun Melsungen AG, CONMED Corporation, Smith & Nephew plc, Zimmer Biomet, Orthofix International, Spinal Technology, Inc., and ReWalk Robotics.
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