DUBLIN, November 2, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Spine Implants Market in the US 2016-2020" report to their offering.
The report forecasts the spine implants market in the US to grow at a CAGR of 5.29% during the period 2016-2020. Robotic technology is a widely used technology in the US and the adoption of the technology is faster. The robotic technology allows the surgeons to plan the surgery and retain accuracy of the procedure. The technology customization is an added advantage in providing better patient solutions. This technology helps in guiding the surgeon during the procedure. In the US, about 1.34 million spine surgeries are carried out in a year. The surgical robots would help in reducing the procedure cost and healthcare expenditure in the country. The market penetration of surgical robots is about 35% and it is likely to grow further in the future helping in maintaining the accuracy of the procedure. According to the report, spinal stenosis is the condition where the narrowing of space occurs in the spine, which increases pressure on the spinal cord and nerves. About 75% of the spinal stenosis cases were reported to occur in the lumbar spine region. There is a rise in the prevalence of this spinal disorder due to the changes in lifestyle, increasing older population, and rise in obesity cases in the country Further, the report states that the high procedure cost has led to the shift of patients from invasive to MIS procedures. Spinal procedures are increasing due to the changes in lifestyle and increasing older population in the country. Most of the spinal procedures are covered under Medicare, due to which the number of spinal procedures is rising in the country.