Spinal Surgery Devices Market Booms Over Advancing Medical Care During the Forecast Period
Faulty statures
and sitting habits are driving the growth in Global Spinal Surgery Devices
Market in the forecast period, 2022-2026.
According to TechSci Research report, “Global Spinal
Surgery Devices Market
By Device Type (Spinal Decompression, Spinal Fusion, Fracture Repair Devices,
Arthroplasty Devices, Non-fusion Devices) By Surgery Type (Open v/s Minimally
Invasive Surgery (MIS)) By End User (Hospitals & Clinics, Ambulatory Care
Centers, Others) By Region, Competition Forecast & Opportunities, 2026”, the global spinal surgery devices market may potentially project an
impressive growth in the forecast period, 2022-2026, with an impressive CAGR on
the account of rising number of road accidents that lead to spinal rupture or
spinal trauma.
Moreover, the instances of accidental spinal injuries and related
diseases is also expected to support the growth of the market in the upcoming
five years. Also, geriatric population is rising globally, and they are more
susceptible to the spinal deformities and spinal injuries, thereby driving the
growth of the global spinal surgery devices market in the next five years.
Technological advancement aided with the government funding is expected
to flood the market in these years once the clinical trials are successfully
conducted. Market players are keenly providing the advanced technology in the
spinal surgery device that can be one of the root causes of the global spinal
surgery devices market growth in the next five years.
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The global spinal surgery devices market is
segmented by device type, surgery type, end user, competitional landscape,
regional distribution. Based on device type, the market is further segmented
into spinal decompression, spinal fusion, fracture repair devices, arthroplasty
devices, and non-fusion devices. Spinal fusion is anticipated to assert its
dominance over the market with the largest market shares in the future five
years on the account of surge in the demand as the instances of spinal rupture
are increasing at an alarming rate.
Also, the market players have provided both the anterior
and posterior dynamic stabilization devices in the recent years. The clinical
trials are expected to clear the medical devices soon that would raise the
growth bar for the market in the forecast years. However, due to recent cases
of COVID-19 many elective surgeries were postponed that put a slight restraint
over the market growth. Although the release of vaccination is anticipated to
restore the growth in some time. Spinal decompression is also expected to hold
the significant shares in the future market on the account of increasing spinal
injuries.
Based on surgery type, the market is bifurcated
into open surgery and minimally invasive surgery. Open surgery is anticipated
to hold the largest revenue shares of the market and assert its dominance on
the account of rising instances of complicated procedures that requires open
surgeries. Moreover, spinal deformities are detected in large population and
the number of patients is continuously increasing therefore the market is
anticipated for the impressive growth in the upcoming five years.
Also, minimally invasive surgery is expected to
show significant growth in the next five years on the grounds of increasing
preferences to the minimally invasive surgeries for the spinal diseases. Also,
the technologically advanced devices have made it feasible for the complicated
surgeries to be carried out by the spinal surgical devices that access the
sites with minimally invasive path thereby aiding the consumer demand of
painless surgery option along with considerably lowering the infection risks.
Holding the major shares of the global spinal
surgery devices market are Stryker Corporation, Johnson & Johnson (DePuy
Synthes), Zimmer Biomet Holdings, Inc., Medtronic Plc, Alphatec Spine Inc.,
Globus Medical Inc., Nuvasive Inc., SeaSpine Holdings Corporation, Orthofix
Holdings Inc, Boston Scientific Corporation, among others. Consistent research
and development have supported the developing healthcare industry.
With the evolving medical conditions and diseases,
the industry is continuously in demand of better and evolving medical
treatments and medical devices. Market players functioning in the market may
focus their resources on the development of these technologically advanced
devices to satisfy the consumer demands. New market players might require
aggressive advertisement and awareness drives to introduce their product in the
market. Other competitive strategies include mergers & acquisitions and new
product developments.
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“Asia Pacific is a
developing region that has quite a vast untapped market. With the developing
medical care in the countries like India, China, the market might see the
fastest growing CAGR growth in the upcoming five years. Moreover, factors like
developing healthcare infrastructure, rising awareness among the population for
the possibility of the surgical process to overcome the spinal difficulties
along with the improving reimbursement and insurance schemes the market is
expected to be the most promising market for the future five years. Whereas
North America region is expected to hold the major revenue shares and dominate
all other regions with the largest market for the upcoming five years. The
already established healthcare is expected to drive the growth of the market.
Countries like United States, and Canada are expected to experience the medical
tourism that will further strengthen the growth of the market in the next five
years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research
based Global management consulting firm.
“Global Spinal Surgery
Devices Market By Device Type (Spinal Decompression, Spinal Fusion, Fracture
Repair Devices, Arthroplasty Devices, Non-fusion Devices) By Surgery Type (Open
v/s Minimally Invasive Surgery (MIS)) By End User (Hospitals & Clinics,
Ambulatory Care Centers, Others) By Region, Competition Forecast &
Opportunities, 2026”,
has evaluated the future growth potential of global spinal surgery devices and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global spinal surgery devices market.
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