Spinal Trauma Devices Market’s Future Lies in Internal Fixation Devices, Expected to Reach US$4.7 bn by 2023 A new Transparency Market Research report states that the global spinal trauma devices market approximated US$2.9 bn in 2014 and is predicted to reach US$4.7 bn by 2023, by expanding at a CAGR of 5.60% from 2015 to 2023. The title of the report is “Spinal Trauma Devices Market: Global Industry Analysis, Size, Share, Growth Trends and Forecast 2015 – 2023.” A spinal trauma is an injury of the spinal cord and results in either a permanent or temporary change in the cord’s normal motor, sensory, or automatic functions. The vertebrae protect the tissues in the spinal cord, but they can be dislocated or broken in the event of an accident or catastrophic falls as these exert excessive pressure on the spinal cord. The severity of the damage caused to the nervous tissue helps in determining which body functions are lost or compromised. In these cases, spinal trauma devices are utilized for stabilizing the spine’s posterior area while preventing pressure on the affected area and to restore motion.
As stated in the report, the increasing occurrence of traumatic spinal injuries and the rising healthcare expenditure globally are amongst the major factors propelling the development of the market for spinal trauma devices. In addition, the advent of minimally invasive techniques and new technological developments within the field of trauma fixation will also augment the growth of the market. Furthermore, the increasing usage of non-metallic (bioabsorbable) materials in place of metallic materials for internal spinal fixators is a key growth opportunity in the market. However, the lack of health insurance policies within a number of emerging nations is a key factor that may inhibit the growth of the market for spinal trauma devices. On the basis of device type, the market is segmented into internal fixation and external fixation devices. Amongst these, internal fixation devices are further segmented into rods and pins, plates and screws, and bone grafts. External fixation devices are further segmented into spinal cord stimulators, Ilizarov devices, robotic exoskeletons, collars, halo vests, and spinal braces. Read Full Report: http://www.transparencymarketresearch.com/spinal-trauma-devicesmarket.html Out of these two, in 2014, the segment of internal fixation devices led the market with a sizeable share of 60.5% owing to the rising demand for durable and effective spinal fixation devices. On the other hand, the segment of external fixation devices is poised to experience slow growth in the forecast horizon. The plate and screws sub-segment of internal fixation devices constituted