Wilmington, Delaware, United States, Sept. 01, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - In 2021, the revenue of motion preservation devices market stood at US$ 640 Mn. It is expected that the global market will progress at a CAGR of 10.8% during the forecast period, from 2022 to 2031.The global motion preservation devices market is estimated to surpass value of US$ 1.78 Bn by 2031. The market for motion preservation devices is being driven by the rising frequency of spinal illnesses. The market demand for motion preservation devices is anticipated to rise due to rising acceptance of promising therapeutic options for treatment of spinal illnesses. In addition, rise in consumer awareness regarding minimally invasive operations and motion preservation devices are likely to trigger demand in the market.
A growing proportion of the global population is getting older, who are more likely to experience spinal diseases. Thus, the ageing population is increasing demand for motion preservation devices globally. Patients with spinal problems now have a higher quality of life due to technological breakthroughs. This factor is expected to drive motion preservation devices market expansion in the near future.
Devices that preserve motion are utilized to treat spinal illnesses or problems. In addition to helping align and reinstate normal mobility of the spine, these devices are utilized to treat diseases of the spine. The market's expansion is projected to be supported by increase in spinal illnesses, technological breakthroughs, and a preference for minimally invasive procedures. In addition, it is projected that the growing popularity of spinal surgical procedures will be the largest opportunity for motion preservation devices in the new future.
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Key Findings of Market Report
- Based on product, in 2021, the category of conventional total disc replacement devices held the majority of the global market. The is also one of the key market segments in motion preservation devices. Total disc replacement entails removing the majority or all of the disc tissue and inserting a substitute device into the gap between the vertebrae. The category is expected to observe growth in the forthcoming years due to an increasing number of spinal illnesses and the ageing population throughout the world. Devices for total disc replacement provide better care for individuals with complex spine injuries.
- The category of minimally invasive spine surgery made up a significant portion of the global motion preservation devices market in 2021, depending on surgery. It is predicted that throughout the projected timeframe, the minimally invasive spine surgery category will expand at a high CAGR. Relatively small scars, a quicker recovery, lower surgical blood loss, and less harm to the adjoining muscles are only a few benefits of this procedure that could be credited for the segment's rise.
- In the upcoming years, North America is anticipated to lead the global market for motion preservation devices. Due to a rise in government measures to raise public knowledge about spinal illnesses and other spine-related problems, the forecast for regional market seems to be optimistic. Additionally, it is projected that rising disposable income, increasing healthcare spending, and availability of cutting-edge technology will influence the growth of the global market.
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Global Motion Preservation Devices Market: Key Players
Some of the key market players are
- Zimmer Biomet Holdings, Inc.
- Alphatec Holdings, Inc.
- Spinal Kinetics, Inc.
- Paradigm Spine, LLC
- Medtronic plc.
- Globus Medical, Inc.
Global Motion Preservation Devices Market: Segmentation
Product
- Total Disc Replacement Devices
- Posterior Dynamic Devices
- Facet Replacement Devices
- Prosthetic Nucleus Replacement Devices
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Surgery
- Open Spine Surgery
- Minimally Invasive Spine Surgery
End User
- Hospital
- Clinics & Orthopedic Centers
- Ambulatory Surgical Centers (ASCs)
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