Motion Preservation Devices Market

The preference for minimally invasive spine surgery over traditional open surge treatment procedures drives the growth of the market.

PORTLAND, OREGON, UNITED STATE, July 11, 2022 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Motion Preservation Devices Market by Product Type (Dynamic Stabilization Devices, Artificial Discs, Annulus Repair Devices, Nuclear Disc Prostheses Device), by Surgery (Minimally Invasive Spine Surgery, Open Spine Surgery): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global motion preservation devices industry generated $1.5 billion in 2020, and is expected to reach $2.8 billion by 2030, witnessing a CAGR of 6.7% from 2021 to 2030.

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Drivers, Restraints, and Opportunities

The preference for minimally invasive spine surgery over traditional open surge treatment procedures, lower cost of minimally invasive surgical procedures as compared to traditional procedures, and rise in geriatric population drive the growth of the global motion preservation devices market. However, unfavorable reimbursement scenario restrains the market growth. On the other hand, incidences of diseases such as spinal disorders & neurological disorders and advancements in surgical techniques create new opportunities in the coming years.

The open spine surgery segment expected to maintain its lead position throughout the forecast period

Based on surgery, the open spine surgery segment accounted for the highest market share in 2020, contributing to nearly three-fifths of the global motion preservation devices market, and is expected to maintain its lead position throughout the forecast period. This is due to various advantages such as reduced cost of the surgery and hospitalization. However, the minimally invasive spine surgery segment is estimated to witness the largest CAGR of 7.4% from 2021 to 2030, owing to increase in the adoption of novel and technologically advanced techniques.

Covid-19 Scenario:

• Owing to reduced open spine surgery procedures, the demand for motion preservation devices decreased considerably. The large number of spinal procedures was postponed in hospitals as they focused on treating increased number of Covid-19 infected patients and postponed non-elective surgeries.

• According to a study published in the British Journal of Surgery, during 12 weeks of peak disruption in the hospital operations due to COVID-19, nearly 28.4 million elective surgeries were either canceled or postponed in May 2020. This impacted the motion preservation devices market revenue negatively.

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The artificial discs segment to maintain its leadership status during the forecast period

Based on product type, the artificial discs segment held the highest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global motion preservation devices market, and is projected to maintain its leadership status during the forecast period. This is due to increase in the incidence of spinal impairments. However, the annulus repair devices segment is projected to register the fastest CAGR of 8.0% from 2021 to 2030. This is attributed to rise in aging population.
North America to continue to dominate by 2030

Based on region, North America contributed to the highest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global motion preservation devices market. This is due to the presence of major companies and vendors in this region that have focused on product development to serve dual purpose to mitigate the disability rate caused by spinal injuries. However, Asia-Pacific is estimated to manifest the largest CAGR of 8.0% during the forecast period, owing to rise in the prevalence of spinal cord deformities and injuries.

The key market players analyzed in the global Motion Preservation Devices market report include Aurora Spine Corporation, B. Braun Melungeon AG, Globus Medical, Inc., HPI Implants, Johnson & Johnson, Paradigm Spine, LLC RTI Surgical, Inc., Spinal Kinetics, Inc., Ulrich GmbH & Co., KG, and Zimmer Biomet Holdings, Inc.
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