InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Thoracolumbar Stabilization Devices Market- (By Device Type (Anterior Stabilization Device, Posterior Stabilization Device, Retractors), By Material (Titanium, Stainless Steel), By End-Use (Hospitals, Clinics, Ambulatory Surgical Centers)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global Thoracolumbar Stabilization Devices Market is valued at US$ 1.20 Bn in 2022, and it is expected to reach US$ 1.86 Bn by 2031, with a CAGR of 5.2% during a forecast period of 2023-2031.
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Thoracolumbar stabilization devices, such as spinal fusion, are frequently used in surgical operations to address spinal instability, treat abnormalities, and relieve nerve pressure. Thoracolumbar stabilization procedures keep part of the spine’s mobility; spinal fusion, on the other hand, completely stabilizes the spine while eradicating all movement. As a result, demand for the product is anticipated to increase. The devices’ assistance in straightening the curve and giving the thoracic spine sturdy support also contributes to the market’s growth. Thoracolumbar stabilization device innovation was fueled by ongoing medical technology developments, including the creation of minimally invasive surgical methods, improved implant materials, and 3D printing. These developments are intended to enhance patient recovery, decrease complications, and improve surgical outcomes. Government and insurance companies favourable reimbursement policies positively impacted Thoracolumbar stabilization operations. These policies improved the availability and affordability of treatments for patients, which increased the demand for stabilization devices.
List of Prominent Players in the Thoracolumbar Stabilization Devices Market:
- Braun Melsungen AG
- Zimmer, Inc.
- Cologne AG
- Yellowsteps SAS
- Medyssey Co. Ltd.
- DePuySynthes Company
- Aesculap Implant Systems, LLC
- Ulrich Medical
- Medtronic Public Limited Company
Demand for thoracolumbar stabilization devices increased as patients became more aware of the advanced spinal therapy alternatives available and preferred a higher quality of life. Additionally, thoracolumbar stabilization devices were adopted due to rising healthcare costs worldwide, improvements in healthcare infrastructure, and other factors. The demand for superior thoracolumbar stabilization devices grew as attention was paid to patient safety and better surgical results. Several market players participated in strategic alliances, partnerships, and acquisitions to increase their product portfolios and solidify their market positions.
Due to their high initial costs, regular people struggle to afford these technologies. Thoracolumbar stabilization device market expansion is severely hindered by the need to penetrate emerging nations’ marketplaces, where per capita income is low. There is also a lack of essential equipment to fulfil the expanding worldwide demand for healthcare, despite the healthcare infrastructure developing. The market for thoracolumbar stabilization devices may encounter some opposition in the future due to a scarcity of competent employees in the research and development sector.
The North America Thoracolumbar Stabilization Devices Market is likelyto register a major market revenue share and is projected to grow at a high CAGR in the near future. The demand for enhanced therapies among patients, changing demographics, healthcare reforms, ongoing technical breakthroughs, and other factors are projected to fuel further market growth for thoracolumbar stabilization devices in North America. The area is desirable for thoracolumbar stabilization devices because it has contemporary hospitals, specialized orthopaedic and neurosurgery centres, and a trained workforce. Degenerative disc degeneration, vertebral fractures, and spinal abnormalities are among North America’s relatively common spine illnesses. These illnesses’ prevalence is rising, partly because of the ageing population and lifestyle choices.
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- In June 2022, FDA 510(k) clearance was granted to Stryker Corporation for two spinal devices. The Yukon OCT spinal system and the Mojave expandable interbody system for spinal stabilization were developed by Stryker Corporation.
- In Sept 2019, DePuy Synthes made 3D-printed titanium interbody implants for spine fusion surgery. DePuy Synthes introduced the CONDUIT Interbody Platform with EIT Cellular Titanium Technology, which is another way to treat degenerative spine disease. The innovative portfolio included 3D-printed titanium interbody implants for spinal fusion surgery. These were made to look like natural bone and help with spinal union.
Segmentation of Thoracolumbar Stabilization Devices Market-
By Device Type-
- Anterior Stabilization Device
- Posterior Stabilization Device
- Stainless Steel
- Ambulatory Surgical Centers
- The US
- The UK
- Rest of Europe
- South Korea
- South East Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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