The North America spinal surgery market is anticipated to reach $11.28 billion by 2020, growing at a 6.43 percent compound annual growth rate, according to a Healthcare Market Research report.
Here are five trends in the spinal surgery market:
1. The growing occurrence of spinal disorders is one of the key market drivers. Additionally, the development of motion-preserving devices will drive market growth during the forecast period.
2. As minimally invasive spine surgery techniques continue to develop the spinal surgery market will continue to grow.
3. High surgery costs and long approval processes are two challenges market competitors will need to overcome during the forecast period.
4. North America holds the largest share of the global market while the U.S. consist of more than 60 percent of the North American market.
5. Motion-preservation techniques in non-fusion procedures is predicted to be the next breakthrough in spine surgery.