The Thoracic Fixation Systems Market is likely to scintillate going forward. With various cloud options to explore, the healthcare industry is expected to be at a newer high in the forecast period. In other words, organizations across the globe are advancing their downtime regarding digital business initiatives. They are swiftly moving towards the cloud for modernizing the environments, enhancing system reliability, supporting hybrid work models, and addressing the other new-fangled realities surfacing in recent times. This would be the outlook of the healthcare vertical in the upcoming period.
According to the latest research by Persistence Market Research, the thoracic fixation systems market is set to witness a growth of 8.9% CAGR during 2021-2031. The global thoracic fixation systems market is expected to be driven by the rising prevalence of spinal disorders, increasing number of thoracic fixation surgeries, rising cases of facial and head injuries and advancement in minimally invasive complex neurosurgical procedures.
Rising incidence of degenerative disc disease and spinal stenosis, large number of patients with severe comorbid conditions, growing number of vertebral compression fracture, rising preference for minimally invasive surgeries, increasing investments in research and development, increasing funding on healthcare infrastructure, advanced healthcare facilities, growing awareness initiatives and access to healthcare, technological advancement and product launches are some of the major factors uplifting the growth of the global thoracic fixation systems market.
According to research issued by the Journal of Orthopedic Research indicates that certain genetic changes are linked with an increased risk of developing lumbar spinal stenosis, which can lead to pain. The rising number of thoracic fixation surgeries has fueled the demand throughout the globe.
Furthermore, the presence of significant market players working on the development and introduction of highly advanced thoracic fixation systems is fueling market demand even more.
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The market for thoracic fixation systems is most prominently driven by countries like U.S. and Canada. The market owing to the increasing prevalence of chronic diseases, rising number of patients with spinal disorders, availability of newly introduced devices, the presence of skilled surgeons, reimbursement policy and organized regulatory bodies. in the U.S. and Canada.
The U.S. and Canada are undertaking a variety of attempts to strengthen their research and development facilities to produce technological advanced thoracic fixation systems that comply with the evolving patient needs.
Europe accounts for the existence of numerous medical centers, robust healthcare infrastructure, reimbursement systems and high patient awareness and physician education, and growing healthcare spending to dominate the global market for thoracic fixation systems.
The Asia Pacific is expected to witness the highest growth during the forecast period. Rising incidence of degenerative disc disease and spinal stenosis, favorable regulatory environment, growing preference for the minimally invasive procedures, and the technological advancements meeting patient needs is boosting the growth of the thoracic fixation systems in the Asia Pacific.
Leading thoracic fixation systems manufacturers are currently using technologically advanced production techniques to improve production efficacy and product offers. The present growth prospects of thoracic fixation systems market is majorly driven by profitable strategies including partnerships, mergers, collaborations, new product launches and acquisitions in order to consolidate their industry position and geographic presence.
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Some of the leading manufacturers and suppliers of thoracic fixation systems Market include,
- LivaNova Plc
- Boston Scientific Corp.
- Abbott Laboratories
- Kanghui Medical Innovation
- KLS Martin
- Johnson & Johnson
- Medartis
- OsteoMed
- TMJ Concepts
- Integra LifeSciences
- Stryker
- Aesculap Implant Systems.
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Key Segments
By Material
- Metal
- Bioabsorbable Material
- Ceramic
By Indication
- Pain
- Swelling
- Reduced range of movement
- Loss of muscle strength
- Reduced ability
By Fixator Type
- Based on Application Site
- Internal Fixators
- External Fixators
- Based on Resorbability
- Resorbable Fixators
- Non-resorbable Fixators
By End-User
- Hospitals and Clinics
- Ambulatory Surgical Centres
- Others
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