Definition of Spinal Surgery Device

Spinal implants are medical devices that help to fuse shattered bones, stabilize and reinforce the spine, and treat spinal abnormalities. Some conditions that can be addressed using spinal implants and surgery tools include spondylolisthesis, fracture, scoliosis, and degenerative disc disease. Moreover, it is typically used to address conditions such as symptomatic intervertebral disc degeneration, vertebral fractures, bone cancers, and spinal abnormalities that do not respond to conservative treatment.

Global Spinal Surgery Device Market Scope Report

Global Spinal Surgery Device Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global spinal surgery device market is estimated to garner a revenue of ~ USD 19 billion by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~ USD 13 billion in the year 2022. The numerous cases of spinal cord injuries happening around the world are the primary factor driving the growth of the global spinal surgery device market. It is estimated that every year between 249,999 and 500001 people experience spinal cord injury (SCI) worldwide.

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The damage happening to the spinal cord as a result of trauma is termed SCI. As it is the spine that gives our body strength and stability, any injury to the same is to be addressed by a proficient orthopedic surgeon who then suggests the right therapy or surgery for one’s condition.

Global Spinal Surgery Device Market: Growth Drivers and Challenges

Growth Drivers

• Steady Growth of the Geriatric Population – According to the World Health Organization (WHO), the global population of people aged 60 and above should reach ~2 billion by 2050. It is the different cellular and molecular damage which causes aging in a person. The aged mostly suffer traumatic spinal cord injuries from falls. The nontraumatic SCIs in the elderly are mostly caused by medication, infections, tumors, and more. The elderly can especially benefit from minimally invasive spine surgery with minimum blood loss, few postoperative risks, short recovery time, and more.

• Alarming Prevalence of Obesity – It is estimated that by 2025 over 165 million adults and children should become less healthy from obesity or overweight.

• Alarming Rate of Road Accidents – The number of fatal motor vehicle accidents that happened in the United States (U.S.) only in 2020 is estimated to be more than 35,760.

• Increased Use of Automation in Medicine – It is observed that globally more than 65% of healthcare organizations knew about robotic process automation in 2020.

Challenges

High Expenses as Part of the Spinal Surgery

The spinal surgical devices and equipment market's potential expansion is constrained by the high cost of care. The overall cost of the surgeries at the hospitals was found to vary between USD 27,000 and USD 129,000, according to a study carried out over a year to assess cost variances. The cost of treating lower back pain alone is more than USD 90 billion annually. The pace of integrating spinal surgery devices has decreased as a result of the operations' continually rising costs; this has been a significant barrier for both new market entrants and large-scale hospitals.

 Potential Risk to Patients Undergoing Spinal Fusion Surgery

 Lack of Favorable Healthcare Policies

The global spinal surgery device market is segmented and analyzed for demand and supply by surgery type into open surgery and minimally invasive surgery. Among these, the minimally invasive surgery segment is anticipated to hold the largest market size by the end of 2033. The high preference for these surgeries for the benefits, including reduced hospital stay, lesser surgical scars, faster recovery period, and cost-effectiveness, is the main factor driving the segmental growth. It is estimated that more than 12 million laparoscopic procedures are performed worldwide every year. 

Global Spinal Surgery Device Market Regional Synopsis

The North American region market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The high rate of SCIs in the North American region, along with the health reimbursements, technological advancements, and presence of key players, are the major factors driving the regional market growth. For instance, the annual number of new cases of SCIs in the U.S. is estimated to be over 16,999.

Market Segmentation

Our in-depth analysis of the global spinal surgery device market includes the following segments:

Key Companies Dominating the Global Spinal Surgery Device Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global spinal surgery device market that are included in our report are Stryker Corporation, RTI Surgical, Inc., NuVasive, Inc., Zimmer, Inc., Boston Scientific Corporation, B. Braun Melsungen AG, Abbott Laboratories, Orthofix Medical Inc., Globus Medical, Inc., Ulrich GmbH & Co. KG, and others.

Global Spinal Surgery Device Market: Latest Developments

• October 2022: Orthofix Medical Inc. announced the market release of Legacy Demineralized Bone Matrix (DBM), with a putty-like consistency, and used in filling the voids in boney defects of the pelvis or extremities and spine.

• May 2022: B. Braun Melsungen AG announced securing the distribution rights for Aesculap Aeos digital surgical microscope and strengthening its partnership with the Californian company, True Digital Surgery Inc (TDS).

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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