This is a blog article discussing key events in the spinal laminoplasty market from 2016-2028. With talks of competition, consolidation, and uncertainty coming from potential competitors – what are the opportunities for laminoplasty providers?
This report covers the spinal laminoplasty market of global and regional market size, recent industry trends, technological innovations, pharmaceutical developments & regulatory status.Get a bird’s eye view of the global and regional market sizes in 2018-2028 along with forecast estimates by key players in various segments
Current Market and Market Share for Spinal Laminoplasty Surgery
The market for spinal laminoplasty surgery is expected to grow from $4 billion in 2017 to $8.8 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 7% during the forecast period. This growth can be attributed to factors such as the increasing prevalence of degenerative diseases and increasingly aging population globally. Currently, North America contributes the largest share of revenue in the spinal laminoplasty surgical procedure followed by Europe/Middle East/Africa.
Covered and Expanding DMEPD Markets
The global market for spinal laminoplasty is expected to reach USD 2.23 Billion by 2028, expanding at a CAGR of 3.7% from 2019-2028. In North America and Europe, the figure is expected to be OUS 3 mn and USD 1.87 bn, respectively. The United States exerts the highest growth rate in cervical orthopedics compared to all other regions of the world, with a predicted increase of 18% by 2028
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Trends in Disparities of Payment Outcomes and Eligibility Criteria
The spinal laminoplasty has been offering a cost-effective, time and target-efficient solution for the treatment of spine surgery in the most complicated trajectories. With an overall market valuation of $14.19 billion and a growth rate of $12.01 billion per annum, the spinal laminoplasty market position is quite promising in terms of opportunities.
Clinical Hurdles, Biopsychosocial Factors, and Dialectical Behaviors
Skeletal problems are a global health concern and this also has become the cause for acute loss of life in developing as well as developed countries. The prognosis is realistic just upon tummy tuck operation to correct this condition because in some cases, relief is never feasible. In larger research trials involving patients with spinal fusion, there has been overwhelming evidence that laminoplasty (or known as apical screws) may be effective at correcting the issue. This surgical procedure can reduce back pain, bring relief to increased disc protrusions and bulging, control on bone enlargements like scoliosis, and even help improve low extension due to osteoporosis.
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Future Market Opportunities by Affordable Care Act (ACA) Compliance, Digital Technologies, NICE Guidance on Spinal Surgery
The rising cost of key factors such as care and equipment in the spinal surgery industry is driving demand for passive and active mechanisms to reduce cost and time burdens. A recent report from Spinal Surgery Research Foundation estimates the market opportunity for spine wellness technology market to reach $1.3 billion by 2028.
The spinal laminoplasty market is expanding with an estimated $2.4 billion value for 2018 and is predicted to reach $4.5 billion by 2028. With the increasing awareness of degenerative diseases, use cases are expected to continue expanding as shown in the figure. By adopting neuro-electronic rehabilitation solution, providers will greatly increase their ROI by achieving faster recovery time and better treatment outcomes which can lead to healthy lifestyle changes from patients. As advanced technologies in neuro-electronics attract more research grants and development funds, where with understanding of the shortcomings of previous solutions implant-based devices appears more feasible than neuromodular systems giving much higher level of freedom for customization and patient self-help. This will be a huge driving force