Motion Preservation Devices Market to Reach $2.8 Bn, Globally, by 2030 at 6.7% CAGR: Allied Market Research

The preference for minimally invasive spine surgery over traditional open surge treatment procedures drives the growth of the global motion preservation devices market.

PORTLAND, Ore., June 27, 2022 /PRNewswire/ — Allied Market Research published a report,titled, Motion Preservation Devices Market by Product Type (Dynamic Stabilization Devices, Artificial Discs, Annulus Repair Devices, Nuclear Disc Prostheses Device), by Surgery (Minimally Invasive Spine Surgery, Open Spine Surgery): Global Opportunity Analysis and Industry Forecast, 2020-2030.” According to the report, the global motion preservation devices industry generated $1.5 billion in 2020, and is expected to reach $2.8 billion by 2030, witnessing a CAGR of 6.7% from 2021 to 2030.

Download Sample PDF at: https://www.alliedmarketresearch.com/request-sample/1954

Drivers, Restrictions, and Opportunities

The preference for minimally invasive spine surgery over traditional open surge treatment procedures, lower cost of minimally invasive surgical procedures as compared to traditional procedures, and rise in geriatric population drive the growth of the global motion preservation devices market. However, unfavorable reimbursement scenario restrains the market growth. On the other hand, incidences of diseases such as spinal disorders & neurological disorders and advancements in surgical techniques create new opportunities in the coming years.

Covid-19 Scenario

  • Owing to reduced open spine surgery procedures, the demand for motion preservation devices decreased considerably. The large number of spinal procedures was postponed in hospitals as they focused on treating increased number of Covid-19 infected patients and postponed non-elective surgeries.
  • According to a study published in the British Journal of Surgery, during 12 weeks of peak disruption in the hospital operations due to COVID-19, nearly 28.4 million elective surgeries were either canceled or postponed in May 2020. This impacted the motion preservation devices market revenue negatively.

The open spine surgery segment expected to maintain its lead position throughout the forecast period

Based on surgery, the open spine surgery segment accounted for the highest market share in 2020, contributing to nearly three-fifths of the global motion preservation devices market, and is expected to maintain its lead position throughout the forecast period. This is due to various advantages such as reduced cost of the surgery and hospitalization. However, the minimally invasive spine surgery segment is estimated to witness the largest CAGR of 7.4% from 2021 to 2030, owing to increase in the adoption of novel and technologically advanced techniques.

Specific Requirement on COVID-19? Ask Our Industry Expert: https://www.alliedmarketresearch.com/request-for-customization/1954?reqfor=covid

The artificial discs segment to maintain its leadership status during the forecast period

Based on product type, the artificial discs segment held the highest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global motion preservation devices market, and is projected to maintain its leadership status during the forecast period. This is due to an increase in the incidence of spinal impairments. However, the annulus repair devices segment is projected to register the fastest CAGR of 8.0% from 2021 to 2030. This is attributed to rise in aging population.

North America to continue to dominate by 2030

Based on region, North America contributed to the highest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global motion preservation devices market. This is due to the presence of major companies and vendors in this region that have focused on product development to serve dual purpose to mitigate the disability rate caused by spinal injuries. However, Asia-Pacific is estimated to manifest the largest CAGR of 8.0% during the forecast period, owing to rise in the prevalence of spinal cord deformities and injuries.

Leading Market Players

  • B. Braun Melunsung
  • GlobusMedical, Inc.
  • Zimmer Biomet
  • Aurora Spine Corporation
  • HPI Implants
  • Paradigm Spine
  • RTI Surgical, Inc.
  • Raymedica, Inc.
  • Spinal Kinetics, Inc.
  • Ulrich GmbH & Co. KG

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase a minimum 2 seat plan.

Request for 14 days free trial: https://www.alliedmarketresearch.com/avenue/trial/starter

“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your referenceconsidering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”

Trending Reports in Healthcare Industry (Book Now with 10% Discount):

Pulse Oximeters Market by Type (Bedside Pulse Oximeter, Fingertip Pulse Oximeter, Hand held Pulse Oximeter, Wrist worn Pulse Oximeter, Pediatric Pulse Oximeter), by End User (Hospitals and Clinics, Ambulatory Surgical Centers, Home Environment): Global Opportunity Analysis and Industry Forecast, 2021-2031

Nurse Call Systems Market by Technology (Wired System and Wireless System), Equipment Type (Buttons, Intercom Systems, Mobile Systems, and Integration Communication Systems), End User (Hospitals, Ambulatory Surgical Centers, Clinics and Nursing Homes, and Assisted Living Centers) , and Application (Emergency Medical Alarms, Wanderer Con, Workflow Support, and Others Applications): Global Opportunity Analysis and Industry Forecast, 2021–2030

Medical Spa Market by Service (Body Shaping, Hair Removal, Facial Treatment, Tattoo Removal, Scars & Striae, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

Electronic Health Records Market by Product (On-premise Software and Cloud-based Software), Type (Inpatient EHR and Ambulatory EHR), Application (Clinical Application, Administrative Application, Reporting in Healthcare System, Healthcare Financing, and Clinical Research Application), and End User (Hospitals, Clinics, Specialty Centers, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

Orthodontics Market by Age Group (Adults and Children), and Type (Brackets, Anchorage Appliances, Ligatures and Archwires): Global Opportunity Analysis and Industry Forecast, 2021–2030

Spectrometry Market by Type (Molecular Spectrometry, Mass Spectrometry, Atomic Spectrometry), by End User (Pharmaceutical and Biotechnology Companies, Research and Academic Institutes, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Gas Chromatography Market by Product (Instruments, Consumables & Accessories), by By End User (Pharmaceutical & Biotechnology Company, Academic & Research Institutes, Food & Beverage Company, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Scar Treatment Market by Scar Type (Atrophic Scar, Hypertrophic and Keloid Scar, Contractures, Stretch Marks), by Product (Topical, Laser based treatment, Others), by End User (Hospitals, Clinics, Home Care): Global Opportunity Analysis and Industry Forecast, 2021-2031

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USES/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com/reports-store/life-sciences
Follow Us on LinkedIn: https://www.linkedin.com/showcase/life-sciences-industry-research/

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

SOURCE Allied Market Research

.

Leave a Comment