The global spine orthopedic devices market will likely grow at a 6.23 percent compound annual growth rate between 2017 and 2023, according to a Research and Markets analysis.
Here are six observations:
1. The spine implants segment dominates the market, driven by advanced fusion and non-fusion procedures with orthobiologics.
2. The growing popularity of minimally invasive procedures for orthopedic disorders will boost the market.
3. Clinical evidence related to spine orthopedic devices will expand through 2023.
4. Latin America and the Asia-Pacific region present great growth opportunities for the spine orthopedic devices market.
5. Europe has the second largest market share due to an increasing number of chronic pain cases.
6. Alphatec Spine, DePuy Synthes, K2M, Medtronic, NuVasive, OMNIlife Science, Orthofix International, SeaSpine, Stryker and Zimmer Biomet dominate the space.