Market Overview:
The global thoracolumbar stabilization device market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing incidence of spinal disorders, rising geriatric population, and technological advancements in the field of spinal surgery. Based on type, the global thoracolumbar stabilization device market is segmented into titanium and stainless steel devices. Titanium devices are more popular than stainless steel devices owing to their high strength-to-weight ratio and biocompatibility. Based on application, the global thoracolumbar stabilization device market is segmented into hospitals, clinics, and others (including research institutes and training centers). Hospitals account for a major share of the global thoracolumbar stabilization device market due to increasing number of surgeries performed for spine disorders in this setting. Geographically, North America dominates the global thoracolumbar stabilization device market followed by Europe and Asia Pacific.
Product Definition:
A thoracolumbar stabilization device is a brace or corset worn around the waist to support the spine and prevent back pain. The device may be used to treat an existing condition or to prevent one from developing.
Titanium:
Titanium is a metal, which is extensively used in medical devices. It has various properties such as high corrosion resistance, biocompatibility and osteoconductivity. Owing to these properties it is widely used in medical industry for manufacturing thoracolumbar stabilizers or devices that are used for supporting the spine during any kind of physical activity or movement.
Stainless Steel:
Stainless steel is a type of metal that consists of greater than 92% iron and has less than 8% chromium and nickel. The product is corrosion-resistant, which makes it suitable for medical applications. It also has high tensile strength, excellent ductility & formability, low electrical conductivity & thermal conductivity; making it an ideal material to be used in surgical devices as well as implants.
Application Insights:
The others segment held the largest share of the global thoracolumbar stabilization device market in 2017. This segment includes hospitals, clinics and other healthcare facilities. The hospitals segment is expected to witness lucrative growth over the forecast period owing to a rise in number of trauma cases and accidents across the globe. According to WHO, around 50 million people are injured or disabled every year globally which accounts for 2% of total population. In addition, according to National Safety Council (NSC), an estimated 1 out of 3 deaths occur due to injuries caused by road traffic crashes globally which amounts approximately 4 million people annually worldwide making it one of the major causes of death across various regions including Europe, Asia Pacific and North America.
Regional Analysis:
North America dominated the global thoracolumbar stabilization device market in 2017. This can be attributed to the presence of well-established healthcare facilities, availability of highly skilled physicians, and high per capita income. In addition, favorable reimbursement policies for medical treatments provided by hospitals are some other factors contributing toward growth in this region. For instance, under Medicare Part A & B covers 80% cost of hospital stay for 3 days or more and 50% thereafter up to 90th day which is a major factor driving regional growth.
Asia Pacific is expected to witness lucrative CAGR over the forecast period owing to increasing geriatric population prone to osteoporosis coupled with rising number of road accidents in developing countries such as India & China resulting into increased demand for TSL devices used for stabilization purposes after trauma injuries along with their application in minimally invasive surgeries also boosting regional growth during the forecast period.
Growth Factors:
- Increasing incidence of spinal cord injuries: The major growth driver for the thoracolumbar stabilization device market is the increasing incidence of spinal cord injuries. According to a study by the Centers for Disease Control and Prevention (CDC), around 12,000 people in the U.S. suffer a spinal cord injury each year, resulting in paralysis or loss of movement below the injury site. This number is expected to rise due to increasing awareness about spine health and advances in medical technology that improve treatment outcomes for patients with spinal cord injuries.
- Growing demand for minimally invasive surgery: Thoracolumbar stabilization devices are increasingly being used during minimally invasive surgeries as they offer several advantages over traditional open surgery, such as reduced trauma, shorter hospital stays, and faster recovery times. This is driving demand for thoracolumbar stabilization devices and is likely to contribute significantly to market growth over the next few years.
- Rising prevalence of chronic back pain: Back pain is one of the most common medical conditions worldwide and accounts for a significant proportion of all visits to healthcare providers every year . The prevalence of chronic back pain is on the rise due to factors such as aging population, obesity epidemic, increased stress levels etc., which is fueling demand for thoracolumbar stabilization devices as they offer an effective treatment option for this condition .
Scope Of The Report
Report Attributes
Report Details
Report Title
Thoracolumbar Stabilization Device Market Research Report
By Type
Titanium, Stainless Steel
By Application
Hospitals, Clinics, Others
By Companies
B. Braun, Zimmer, Medyssey, Johson & Johson, Ulrich Medical, Medtronic, Stryker
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
218
Number of Tables & Figures
153
Customization Available
Yes, the report can be customized as per your need.
Global Thoracolumbar Stabilization Device Market Report Segments:
The global Thoracolumbar Stabilization Device market is segmented on the basis of:
Types
Titanium, Stainless Steel
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitals, Clinics, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- B. Braun
- Zimmer
- Medyssey
- Johson & Johson
- Ulrich Medical
- Medtronic
- Stryker
Highlights of The Thoracolumbar Stabilization Device Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Titanium
- Stainless Steel
- By Application:
- Hospitals
- Clinics
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Thoracolumbar Stabilization Device Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Thoracolumbar stabilization devices are medical devices that help to stabilize the spine. They may be used to treat conditions such as back pain, neck pain, and sciatica.
Some of the key players operating in the thoracolumbar stabilization device market are B. Braun, Zimmer, Medyssey, Johson & Johson, Ulrich Medical, Medtronic, Stryker.
The thoracolumbar stabilization device market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Thoracolumbar Stabilization Device Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Thoracolumbar Stabilization Device Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Thoracolumbar Stabilization Device Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Thoracolumbar Stabilization Device Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Thoracolumbar Stabilization Device Market Size & Forecast, 2020-2028
4.5.1 Thoracolumbar Stabilization Device Market Size and Y-o-Y Growth
4.5.2 Thoracolumbar Stabilization Device Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Titanium
5.2.2 Stainless Steel
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospitals
6.2.2 Clinics
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Thoracolumbar Stabilization Device Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Thoracolumbar Stabilization Device Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Titanium
9.6.2 Stainless Steel
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospitals
9.10.2 Clinics
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Titanium
10.6.2 Stainless Steel
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospitals
10.10.2 Clinics
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Titanium
11.6.2 Stainless Steel
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospitals
11.10.2 Clinics
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Titanium
12.6.2 Stainless Steel
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospitals
12.10.2 Clinics
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Titanium
13.6.2 Stainless Steel
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospitals
13.10.2 Clinics
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Thoracolumbar Stabilization Device Market: Competitive Dashboard
14.2 Global Thoracolumbar Stabilization Device Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 B. Braun
14.3.2 Zimmer
14.3.3 Medyssey
14.3.4 Johson & Johson
14.3.5 Ulrich Medical
14.3.6 Medtronic
14.3.7 Stryker
