Spinal Devices Market To Reach USD 16.31 Billion By 2028 | Top Key Players Medtronic, DePuy Synthes, Stryker

Spinal Devices Market Size – USD 12.45 Billion in 2020, Industry Growth - CAGR of 3.5%, Industry Trends – Increase in geriatric population
The global Spinal Devices market research report published by Reports and Data spans over 200+ pages and is an extensive analysis of the Spinal Devices market and overall industry. The report has been formulated through thorough primary and secondary research to generate crucial statistical insights regarding market share, market size, revenue growth, CAGR, import/export, supply and demand, consumer preferences, and overall industry overview. The report discusses in detail the top companies operating in the market, their expansion strategies, product portfolio, market position, and other crucial data to offer the readers, clients, and businesses key insights and investment opportunities to gain a competitive edge over others. The report utilizes key statistical tools such as SWOT analysis, Porters Five Forces analysis, investment return analysis and feasibility analysis to offer key insights about the competitive landscape and overall market scenario.

According to the World health Organization (WHO), each year, globally, around 250,000 and 500,000 individuals suffer a spinal cord injury. Preventable causes, including road traffic accidents, falls, or violence, are the major contributors to the spinal cord injury, and individual suffering from the condition are more likely to die prematurely as compared to healthy individuals, with low and middle-income economies having the worst survival rates. Spinal cord injury is linked with a peril of occurrence of secondary conditions, which can be incapacitating and sometimes cost a person’s life, such as urinary tract infections, deep vein thrombosis, muscle spasms, pressure ulcers, osteoporosis, chronic pain, and respiratory complications.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/2505

As per the Global Health and Aging report published by the WHO (World Health Organization), the number of people aged 65 years or older is estimated to increase from a projected 524 million in 2010 to approximately 1.5 billion by 2050, with significant percentage of increase in developing economies. Additionally, the number of people aged 65 years or older is anticipated to considerably surpass children younger than 5 years of age by 2050. Aging leads to the deterioration of facet joints resulting in several spinal disorders. Thus, the increasing prevalence of diseases in the growing geriatric population is likely to propel the growth of the market in the forecast period.

Technological advancements and rapid digitization have streamlined the daily operations of the pharmaceutical industry. Increasing spending on medicine due to growing geriatric populace, rising incidence of chronic diseases, increasing number of product launches, and growing number of R&D activities are some key factors contributing to revenue growth of the market. Increasing focus on patient engagement solutions, rising focus to cater to growing unmet clinical demand, adoption of advanced technologies to streamline workflows in healthcare sector, and availability of skilled healthcare professionals has been positively impacting the pharma & healthcare industry. The emergence of COVID-19 pandemic has further increased focus on healthcare facilities, teleconsultation and telemedicine, and increased burden on the healthcare industry compelling governments and companies to invest heavily to cater to the growing global demand.

Further key findings from the report suggest

• By device type, fusion devices contribution to the largest market share in 2020. Spinal fusion procedure is usually done for the treatment of spinal disorders, such as degenerative, deformity, traumatic, and tumor, among others.

• By surgery type, open surgery dominated the market share in 2020 and is likely to grow at a rate of 2.2% in the forecast period. Open surgery gives the visual information essential to diagnose a condition accurately. Also, some kinds of surgeries need access to larger areas to insert materials like in the case of an aortic aneurysm repair when a stent cannot be placed.

• By end-users, hospitals held the largest market share in 2020 and is expected to grow at a rate of 3.2% in the forecast period. The factors including well-resourced operating & diagnostic rooms, higher purchasing power, existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.

• The market in the Asia Pacific region is likely to grow at the fastest rate of 4.7% in the period 2019-2028, due to the improving healthcare infrastructure, rising investments in diagnostic imaging, and better reimbursement scenario.

• Key participants include Medtronic, DePuy Synthes, Stryker, Zimmer Biomet, NuVasive Inc., Alphatec Spine Inc., Globus Medical, RTI Surgical Holdings Inc., Captiva Spine LLC, and Paragon Medical, among others.

Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/2505

For the purpose of this report, Reports and Data have segmented the global spinal devices market on the basis of device type, disease type, surgery type, end-users, and region:

Device Type Outlook (Revenue, USD Million; 2016-2028)

• Fusion Devices
• Non-Fusion Devices
• Spinal Electrical Simulation Devices

Disease Type Outlook (Revenue, USD Million; 2016-2028)

• Degenerative Disc Disease
• Traumas & Fractures
• Complex Deformity
• Others

Surgery Type Outlook (Revenue, USD Million; 2016-2028)

• Open Surgery
• Minimally Invasive Surgery

To know more about the report @ https://www.reportsanddata.com/report-detail/spinal-devices-market

The report discusses in detail the top companies in the market along with their recent initiatives such as mergers and acquisitions, joint venture, partnerships, corporate and government deals, collaborations, and brand promotions and product launches among others. The report further discusses the companies’ initiatives and investments in key regions across the globe such as North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.

Region analysis Covers:

• North America (U.S.A., Canada, Mexico)
• Europe (U.K., Italy, Germany, France, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

In conclusion, the report offers a comprehensive analysis of the factors expected to drive the global Spinal Devices market growth over the forecast period of 2021-2028. The report is an all-inclusive document covering the market landscape and a futuristic perspective on its growth and progress. The report also provides an analysis of the entry-level driving and restraining factors for the new entrants contributing to the market. The report also offers strategic recommendations to the established players as well as new entrants to help them gain a strong foothold in the market.

Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/2505

Thank you for reading our report. Customization of this report is available as per the client’s requirements. Please connect with us to know more about the report and our team will ensure you get the report tailored according to your needs.

Read More Reports:-

Electronic Clinical Outcome Assessment (eCOA) Solution Market @ https://www.biospace.com/article/electronic-clinical-outcome-assessment-ecoa-solution-market-to-reach-usd-3-48-billion-by-2028/

Dental Lasers Market @ https://www.biospace.com/article/dental-lasers-market-size-to-reach-usd-345-1-million-in-2028-noted-reports-and-data/

Oligonucleotide Synthesis Market @ https://www.biospace.com/article/oligonucleotide-synthesis-market-to-reach-usd-19-64-billion-by-2028-noted-reports-and-data/

Contact Us:

John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise

This release was published on openPR.