Asia-Pacific Spinal Implants Market is expected to grow with the CAGR of 5.1% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below:
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Asia-Pacific spinal implants market is a highly consolidated market which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.
The major players dealing in Asia-Pacific spinal implants market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio. For instance, in December 2020, Globus Medical announced that it has been awarded with a group purchasing agreement with Premier, a leading group purchasing organizations in the U.S. This agreement done by the company has increased its credibility in the market leading to increased revenue in future.
Stryker is the dominating player in the Asia-Pacific spinal implants market. The other players operating in the spinal implants market include Medtronic, Canwell Medical Co., Ltd., NuVasive, Inc., SeaSpine, Globus Medical, RTI Surgical, MW Industries, Inc. (MWI), Captiva Spine, Inc., XTANT MEDICAL, SINTX Technologies, Inc, Orthofix Medical, Inc., Alphatec Holdings, Inc., Wenzel Spine, Inc., Johnson & Johnson Services, Inc., Tecomet, Inc., and Zimmer Biomet among other.
Stryker:
Stryker is headquartered in Michigan, U.S. and was incorporated in 1946. The company is focused on offering innovative products and services in orthopaedics, medical and surgical and neurotechnology and spine that help improve patient and hospital outcomes. The company operates in multiple business segments such as medical and surgical (medsurg), neurotechnology and spine and orthopaedics out of which neurotechnology and spine is the market focused segment. The company has wide range of products under categories such as medical & surgical equipment, orthopedics and neurotechnology and services in which orthopaedics is the market focused category.
For instance,
- In November 2020, Stryker announced that it has acquired the Wright Medical Group N.V., a medical devices company focused on extremities and biologics across globe. This acquisition done by the company has increased the product portfolio of the company leading to increased sales and demand for its products in future.
The company has presence in North America, South America, Europe, Asia-Pacific and Middle East and Africa. The company has various subsidiaries that are Aimago SA (Switzerland), Berchtold + Fritz GmbH (Germany), Jiangsu Chuangi Medical Instrument Company Limited (China) among others.
Medical Devices Business Services, Inc. (a subsidiary of Johnson & Johnson Services, Inc.):
Medical Devices Business Services, Inc. (a subsidiary of Johnson & Johnson Services, Inc.) is headquartered in New Jersey, U.S. and was founded in 1957. The company continually focus on elevating the standard of care-working to expand patient access, improve outcomes, reduce health system costs and drive value. The company has wide range of products under categories such as joint reconstruction, trauma, spine, sports medicine, power tools, CMF and biomaterials in which spine is the market focused category.
For instance,
- In July 2019, Ethicon, part of the Medical Devices Business Services, Inc. participated in the International Experts Convene to discuss surgical site infection (SSI) prevention across Asia-Pacific. This symposium has created awareness among people. Additionally, this symposium led to increased sales and demand for its product in the market which will further increase its revenue in future.
The company has wide global presence across the world as North America, Asia-Pacific, Europe, Middle East and Africa and Latin America.
NuVasive, Inc.:
NuVasive, Inc. is headquartered in California, U.S. and was incorporated in 1997. The company is engaged in the spine surgery market and development of minimally disruptive surgical products and integrated solutions. The company operates in multiple business segments such as spinal hardware and surgical support out of which spinal hardware is the market focused segment. The company has wide range of products under categories such as spine, iGA, NVM5, NuVasive clinical services, lessray, advanced materials science, pulse, X360 and C360 in which spine and C360 are the market focused categories.
For instance,
- In April 2021, NuVasive, Inc. announced that they have received FDA Approval from the U.S. Food and Drug Administration for NuVasive Simplify Cervical Artificial Disc. This achievement is anticipated to further broaden the development of NuVasive C360 portfolio. This thereby expected to increase the demand and sales in the market improving company credibility.
The company has wide global presence across North America, Asia-Pacific, Europe and South America. The company has various subsidiaries namely NuVasive UK Ltd (U.K.), NuVasive Germany GmbH (Germany), NuVasive Japan KK (Japan) among others.
