The increasing number of injuries, accidents and body deformation demand for advance surgeries and treatment. Medical devices industry players are focusing on the introduction of new devices and technologies to provide effective treatment. Knee, spinal and hip injuries are the most common form of the injuries associated with the accident and trauma. The increasing number of lumbar disc herniation and spinal injuries lead to demand for innovative devices such as anular closure devices. Anular closure devices such as Barricaid anular closure device is an implant which has three components mesh (PET layers connected with PTFE-coated PET sutures), anchor and marker. Barricaid anular closure device is made of titanium and it’s attached to a polyester mesh. Barricaid anular closure device is intended to close the hole in patient spinal bone following a limited discectomy procedure in the lower back after an initial herniated disc. Barricaid anular closure devices are intended to implant for discectomy to prevent reherniation and recurrence of pain or dysfunction. Some of the other products available for the annulus fibrosus repair and annulus closure are the Xclose Tissue Repair System, Anchor Band Suturing System, Inclose Surgical Mesh System, and Disc Annular Repair Technology (DART) System.
The increasing number of lumber discectomy procedure expected to propel the growth of the anular closure device market over the forecast period. The increasing number of accidents and injuries expected to favour the growth of the anular closure devices market. Growing ageing population augmented to boost up the demand for the anular closure devices market as high number of lumbar disc herniation cases among older patients. Increasing per capita healthcare expenditure, growing number diagnostic procedure such as MRI scans for spine expected to favours demand for the anular closure devices. Favourable reimbursement policies implementation in the developing and developed countries expected to favour the demand for the anular closure devices. Moreover, side effects and infections risk associated with the anular closure procedures expected hamper the growth of the anular closure devices market.
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The global anular closure devices market is classified on the basis of product type, end user and region.
Based on product type, anular closure devices market is segmented into the following:
- Suturing System
- Surgical Mesh
- Reherniation Reduction Device
Based on end user, anular closure devices market is segmented into the following:
- Ambulatory Surgical Centers
- Spine Surgery Centers
The increasing number of research and development activities for the introduction of new anular closure devices expected to drive the growth of the anular closure device market over the forecast period. The growing ageing population and the rising number of affordable medical services and procedures in the developed countries are expected to propel the anular closure devices market. Increasing prevalence of the disc degeneration, endplate lesions, annular tears/fissures and spondylolisthesis expected to flourish the demand for the anular closure devices. Increasing integration of minimally invasive imaging technologies for the operative procedures and devices implantation expected to spur the demand for the anular closure devices market.
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North America anticipated to represent highest market value share in the global anular closure devices market as high number of lumber discectomy procedures performed in the regions. Europe expected to contribute the second highest market value share in global anular closure devices market as improving reimbursement policies for the spinal surgeries. East Asia and South Asia expected to grow with significant growth rate as the growing prevalence of disc degeneration and spondylolisthesis in the region and highest patient pool in the world. India and China projected to grow with a faster pace as increasing demand for the new technologies and devices for the spinal disorders treatment and growing healthcare expenditure. Middle East Asia likely to show less growth rate as compared to Asian countries as slow developments in the healthcare sector.
Anular closure devices market is a consolidated market with less number of players. Some of the key players across the value chain of anular closure devices market are Intrinsic Therapeutics, Anulex Technologies, Inc., Magellan Spine Technologies, Inc. and others.
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