Spinal surgical devices are used to repair and preserve spinal alignment, restore or improve mechanical spine stability, and improve spinal fusion caused by trauma or slipped discs caused by degenerative intervertebral discs.
The Spine Surgery Devices market was worth USD 2.65 billion in 2020 and is predicted to be worth USD 3.97 billion by 2028, expanding at a 5.1% CAGR between 2021 and 2028.
The expansion of the spine surgery market is pushed by the increasing number of geriatric and obese populations. Spine disorders are particularly common in the elderly and obese populations. Furthermore, breakthrough technology for minimally invasive spine surgery procedures, as well as the rising occurrence of spinal injuries, are expected to drive the spine surgery market forward. Furthermore, car and automotive accidents are the leading cause of spine injuries each year, accounting for nearly 35% of all spine injuries, which may support the growth of the spine surgery device market.
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On the other hand, payment uncertainty, high surgical costs, and a lack of information about spine care may stymie the growth of the spine surgery industry. Nonetheless, rising demand for medical tourism in emerging nations will almost certainly create new opportunities during the predicted period.
Growth Factors
The increasing acceptance rate of minimally invasive spinal procedures, increasing prevalence of obesity and degenerative spinal disorders, and increasing technological breakthroughs in spinal surgery are the primary drivers driving the growth of this market. The spine is made up of 26 vertebrae piled on top of one another and the spinal column, which allows us to stand erect, twist, and bend and serves as the major support for our bodies. Thus, spinal cord damage causes a major problem with the spinal column, either temporarily or permanently. Patients who are experiencing problems often choose surgery because a variety of technologies are now available, including fusion, non-fusion, vertebral compression fracture, spine biologics, and spinal decompression. New product introductions and technical improvements are expected to have a favorable impact on regional demand.
The spine surgery market has been classified into fusion, non-fusion, vertebral compression fracture, spine biologics, and spinal decompression based on technology type. The fusion technology sector dominated the spine surgery market in 2018, accounting for 42% of the market, but growth is predicted to slow due to developing technologies in the spine biologics category in the forecast. Spine biologics technology is predicted to be the leading segment with the highest growth rate during the projection period.
Key Market Players & Competitive Landscape
Key participants operating in the Asia Pacific spine surgery devices market include Alphatec Spine, Inc., Biomet, Inc., Depuy Synthes Companies, Globus Medical, Inc., Integra Lifesciences Holdings Corporation., Medtronic, Inc., Nuvasive Inc, Stryker Corporation, Zimmer Holding, Inc., and America Corporation.
The Asia Pacific Spine Surgery Devices Market is segmented as follows:
By Device Type
Fusion Devices
Fracture Repair
Non-Fusion Devices
Arthroplasty
By Technology
Fusion
Non-Fusion
Vertebral Compression Fracture
Spine Biologics
Spinal Decompression
By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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Read Also: https://marketandmarkettrade.blogspot.com/2023/02/global-spine-surgery-devices-market.html
Global Spine Surgery Devices Market Size, Share, By Type, Analysis, and Forecast 2028
Global Spine Surgery Devices Market Size, Share, By Type, Analysis, and Forecast 2028
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