05-16-2019 06:19 PM CET - Health & Medicine

Australia Spinal Surgery Devices Industry: Global Analysis, Regional Outlook, Size, Share, Growth, Trends and Forecast 2024

Press release from: Market Prognosis

The propelling factors for the growth of the spinal surgery devices market include the increasing demand for minimally invasive surgical procedures, increasing the incidence of obesity, an aging population, and associated spine disorders. The continuous advancements in spine surgery technologies are also expected to experience a boost in the forecast period.

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The Australian population is found aging rapidly, owing to reduced birth rates and increasing life expectancy. The high prevalence of neck and low back pain in the rapidly aging population is associated with a significant increase in the number of spinal disorders. While spinal imaging can be useful to identify less common causes of neck and back pain, there has been an increasing number of surgery devices.
The estimates from the Australian Bureau of Statistics, 2014u201315 National Health Survey shows that there are around 3.7 million Australians that are found facing back problems. It is estimated that 70% of people will suffer from lower back pain in some form at some point in their lives. Therefore, the increasing prevalence of spinal deformities due to aging and unhealthy lifestyles are expected to drive the market in the near future.

Top Players:
The key players in the spinal surgery devices market are found focusing on strategic mergers and acquisitions to expand its product portfolio and strengthen their position in the market. There are also devices that companies continue to release, contributing to the market potential growth.

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In addition, minimally invasive surgeries have also gathered great attention as a means of improving patient recovery and reducing surgical costs associated with the treatment of spinal conditions. Specialized tools and techniques are allowing traditional surgical approaches for both fusion and non-fusion procedures to be adapted to lessen the invasiveness of treatment. Hence, all these factors are associated with the spinal surgery devices market.

Scope of the Report
As per the scope of the report, spinal surgery is one of the fast-growing surgical techniques and has evolved into one of the major segments of the orthopedic industry. Spinal surgery is traditionally performed as open surgery, wherein a long incision allows a surgeon to access the spinal anatomy of a body. Therefore, spinal devices are used to provide stability to spinal structure, which has lost stability due to a fracture, degenerative disorders of the spine, trauma, tumors, and deformity.

Spinal Fusion is Expected to hold the Highest Market Share in the Device Type Segment
The growth of the spinal fusion devices is driven by the increase in the geriatric population and rise in the incidence of spinal disorders. In addition, the expansion in the indications for which spinal fusion surgery is performed boosts the market growth. These devices are found for treating disc degenerative diseases, spine injuries, and other disorders pertaining to the cervical, thoracic, and lumbar areas of the spine. Thus, the growing prevalence of these disorders is attributable to the large share of the segment.

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About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
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This release was published on openPR.
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