Here are five key notes on the European spinal devices market according to a new report from Medical Market Research Reports.
1. The European spine surgery devices market is expected to reach $2.37 billion by 2020.
2. The market will grow at a compound annual growth rate of 6.1 percent over the next five years.
3. The spinal fusion device market was the largest European spinal device market segment in 2014, including cervical fusion and thoracolumbar fusion.
4. The increasing aging population and associated spinal deformities as well as spine injuries are driving market growth. There are more than 61 million people in Germany, Italy, United Kingdom, France and Spain above the age of 65.
5. The number of road accidents is also a factor in spinal treatment, topping 1 million in 2012.