Germany's market for spinal surgery devices was estimated at USD 0.635 billion in 2014 and is expected to reach USD 0.816 billion by 2020 at a CAGR of 5.16% during the forecast period from 2014 to 2020.
The most common cause of back pain is a condition called intervertebral disc degeneration, where the disc located between the vertebrae of the spine break down with age. Another cause of back pain is wearing down of facet joints, which are large joints that connect each vertebra to another. Back pain is also caused due to spasms, muscle tension, and ruptured disc.
Spinal surgery helps to restore functions of the spine in patients with spine disorders such as spine deformities, disc herniation, spondylolisthesis, scoliosis, degenerative discs, trauma, spinal stenosis, and tumors in the spine region. The spine surgical devices are mainly used in hospitals and orthopedic clinics.
Germany Spinal Surgery Devices Market-Market Dynamics
The increasing preference for minimally invasive spinal surgery, the large patient pool due to a rapidly growing elderly population, and the growing demand for technologically advanced products are the factors driving the growth of the spinal surgical devices market. However, price concerns, unstable reimbursement policies, lack of adequate physicians and lack of patient awareness/education about newly developed treatment procedures and technologies are expected to restrain the growth of the market to a certain extent.
Germany's market for spinal surgery devices is segmented on the basis of technology and products. The technology segment includes spinal fusion and fixation, spinal decompression, non-fusion technologies and vertebral compression fracture treatment. The spinal decompression segment covers discectomy, laminotomy/laminectomy, foraminotomy/foraminotomy, facetectomy, and corpectomy procedures. Non-fusion technologies include dynamic stabilization and artificial disc replacement. The products segment includes spinal fusion devices, spine bone stimulators, spine biologics and vertebral compression fracture treatment devices. The spinal fusion devices sub-segment is again divided into cervical fusion, interbody fusion, lumbar fusion, thoracic fusion devices. Spine biologics is further categorized into spinal allografts, demineralized bone matrix, bone morphogenetic proteins, bone substitutes and machined bones. Vertebral compression fracture treatment devices further include vertebroplasty and balloon kyphoplasty devices. Spine bone stimulators can be invasive electrical bone stimulators and non-invasive electrical stimulators.
Many players in this market are trying to expand their product portfolio in order to top the global and regional market. While a few companies are entering the market by acquisitions, top companies are expanding their growth in this market by acquiring other companies. Some companies like Medtronic have adopted product innovation and new product launches as their key business strategy to ensure their dominance in this market.
Some of the key players in the market are:
Alphatec Spine Inc.
Orthofix International N.V.
Key Deliverables in the Study
Market analysis for Germany's spinal surgery devices market, with region-specific assessments and competition analysis on the global and regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect Germany's spinal surgery devices market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions in which this industry is growing and to also identify the regions that are still untapped.
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