European spine surgery devices market could be worth nearly $3000 million by 2019
The European spine surgery devices market is expected to reach $2,993.6 million by 2019, growing at a CAGR of 7.3% from 2014 to 2019, according to the latest forecasts.
MicromarketMonitor’s latest report on the European spine surgery devices market – according to product, end-user and geography – analyses the market in terms of four broad classes of spinal surgery device: fusion, non-fusion, spinal decompression and spine biologics. In 2014, spinal fusion and fixation devices took the biggest share of the European spine surgery devices market, with an overall share of 66.5 per cent in terms of value, and this sector is projected to grow at a compound annual growth rate (CAGR) of 6.2 per cent between 2014 and 2019.
According to the report, factors driving the demand for spine surgery devices include road accidents, an increase in cases of spinal deformities such as disc compression among the aging population in Europe, and the popularity of non-fusion devices such as artificial spinal discs, as well as advances in medical technology, particularly in areas such as minimally invasive techniques and biologics.
The European spine surgery devices market is estimated to be dominated by new product launches and mergers & acquisitions, which are the major strategies adopted by most market players to achieve growth.
The report also includes in-depth market share analysis, by revenue, of the top players in the spine surgery devices market, including Stryker Corporation (US), DePuy Synthes Companies of Johnson & Johnson (US), Zimmer Holdings Inc. (US), Smith & Nephew Plc (UK), Tornier Inc. (France), Biomet Inc. (US), and other companies.
Source: www.micromarketmonitor.com
