Motion Preservation Devices Market Expected to Reach $2.8 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Motion Preservation Devices Market," The Motion Preservation Devices Market size was valued at $1.5 billion in 2020, and is estimated to reach $2.8 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030.

Motion preservation devices are advanced surgery technology used for the treatment of spine disorders. It helps to restore the motion of the parts such as degenerative lumbar spinal stenosis, facet pain, and degenerative disc disease. There are four types of technologies used for the treatment of posterior motion preservation of degenerative lumbar spine including the total disc replacement, disc nucleus replacement, interspinous process spacers, and posterior dynamic stabilization devices &  facet replacement devices. Total disc replacement has application in the complete removal of the disc, while disc nucleus replacement is the evacuation of nucleus pulpous through an amniotomy ..The minimally invasive spine surgery is the most preferred motion preservation treatment option because it takes less downtime, low bleeding during surgery, less scarring, less pain, and faster recovery.

The Motion Preservation Devices Market trends are an increase in funding for R&D activities pertaining to motion preservation devices and growth in awareness of spinal surgery drive the motion Preservation Devices Market growth. Moreover, an increase in the adoption of novel and technologically advanced techniques, such as minimally invasive spine surgery is anticipated to drive the market growth. In addition, the rise in spinal disorder incidences boosts the demand for effective treatment solutions. Furthermore, a rise in the prevalence of spinal disorders and a surge in changing lifestyles drive the growth of the motion preservation device market. However, the procedure for obtaining a regulatory FDA approval for motion preservation devices is time-consuming & unfavorable reimbursement scenarios are expected to hamper the growth of the market. Moreover, the surge in demand for minimally invasive spine surgery due to an increase in complications and significant advancements in surgical techniques are expected to impel market growth. Furthermore, growth in incidences of diseases such as spinal disorders and neurological disorders has positively propelled the growth of the global motion preservation device market.

COVID-19 Impact

Coronavirus (COVID-19) was discovered in December 2019 in Hubei province of Wuhan city in China. The disease is caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted among humans.

After its discovery in Wuhan, the disease rapidly spread to other parts of the globe. Moreover, this virus causes various symptoms in patients, which range from common symptoms to serious symptoms. For instance, common symptoms include fever, dry cough, and fatigue. However, serious symptoms include difficulty in breathing or shortness of breath, chest pain or pressure, and loss of speech or movement. Furthermore, the virus has a high potential of lethality in the geriatric population. On March 11, 2020, the World Health Organization made an assessment that COVID-19 can be characterized as a pandemic. In addition, only a few vaccines received emergency approvals for COVID-19 prevention. Thus, social distancing is observed as the most important measure to stop the spread of this disease. Furthermore, to maintain social distancing, various countries across the world have adopted nationwide lockdowns.

The outbreak of COVID-19 impacted the motion preservation devices market, as hospital and healthcare services were significantly reduced due to social distancing measures taken by governments across the world. Moreover, the COVID-19 pandemic affected the global economy and showed a huge impact on the functioning of general hospital care for non-COVID-19 patients in hospitals across the globe. As many hospitals and clinics remain closed due to lockdown, the demand for spinal procedures is expected to be subdued in the short term which led to a decline in the demand for motion preservation devices as they are used in spinal procedures. For instance, according to a study published in the British Journal of Surgery, in May 2020, based on 12 weeks of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide were canceled or postponed 2020.

The motion preservation devices market is segmented on the basis of product type, surgery, and region. According to the product type, it is segmented into dynamic stabilization devices, artificial disc replacement devices, annulus repair devices, and nuclear disc prostheses devices. Based on the type of surgery, the market is segmented into open spine surgery and minimally invasive spine surgery. The market is analyzed based on four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

The key market player operating in  Motion Preservation Devices Industry are includes Aurora Spine Corporation, B. Braun Melsungen 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.

By product type, it is segmented into dynamic stabilization devices, artificial disc replacement devices, annulus repair devices, and nuclear disc prostheses devices. The artificial discs segment has the highest Motion Preservation Devices Market share, owing to a rise in the prevalence of spine injuries, technological advancements, and an increase in the adoption of spinal surgery procedures.

By surgery type, the market is segmented into open spine surgery and minimally invasive spine surgery. The open spine surgery segment was the highest contributor in 2021, owing to a rise in awareness among individuals regarding the advantages of minimally invasive surgery.

Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America was the highest contributor to the global market in 2020, owing to the presence of key players and the high rate of adoption of technologies in the region. Asia-Pacific is projected to grow at a significant CAGR  during the forecast period, owing to a rise in the incidence of cardiovascular disease, diabetes, and spine injuries and their associated burdens.

KEY FINDINGS OF THE STUDY

• By product type, the artificial discs segment was the highest contributor to the market in 2020.
• By surgery type, the open spine surgery segment dominated the market in 2020 and is expected to continue this trend during the forecast period.
• Region-wise, North America garnered the largest revenue share in 2020; however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.