Global Spinal Surgery Devices Market is set to grow at a CAGR of ~5 % by 2027 : Growing Demand for Minimally Invasive Spinal Surgeries

Spinal surgery devices are used to restore or enhance the mechanical stability of the spine, correct and maintain spinal alignment, and enhance spinal fusion caused by trauma or slipped discs originating from degenerative intervertebral disks.

Slowdown in the Demand for Spinal Surgery Devices Points to An Upcoming Recession

Due to the upcoming recession, patients are poised to delay the elective surgical procedures including spinal fusion surgeries until the future of the economy looks much more brighter. Considering the present economic and financial conditions, patients are expected to be less willing to incur the costs of these private pays or discretionary procedures and may choose to forgo such procedures. Another factor that will be limiting the placements of these devices is tighter spending by hospitals amid an economic slowdown and a looming recession risk.

Recent Developments in Spinal Surgery Procedures Triggers the Demand of Spinal Surgery Devices Market

For many patients, experiencing pain or discomfort from a spinal condition, spinal surgery can become an excellent choice to relieve their pain and return to their day-to-day activities. Presently, four common types of procedures represent about 90% of all spinal surgeries. The ongoing investments in minimally invasive surgery and robotic-assisted surgery technology is transforming the whole segment of spinal surgery.

An Increasing Cases of Spine Disorders Are Fueling the Growth of Spinal Surgery Devices Market

Several spinal problems such as scoliosis, kypho scoliosis (spinal deformity), cervical stenosis, craniovertebral junctional anomalies, and spinal cord tumour are the most familiar disorders affecting the cervical spine. Although, low back pain and neck pain can also be considered as the most common spinal disorders. The recent innovations and developments in spinal surgery devices for treating spinal disorders increases its accuracy, reduces the incidence of complications, and deliver consistent outcomes.

For instance,
In October 2022, Centinel Spine, LLC announced the continued expansion of the availability of the prodisc Cervical Total Disc Replacement (TDR) portfolio that allows the disc to be matched to patient anatomy

Upcoming Market Challenges to the Growth of Spinal Surgery Devices Market

The high costs of spinal treatment procedures and the risks & complications associated with the spinal surgery such as paralysis or a spinal infection during the surgery is likely to severely impact the growth of the global spinal surgery devices market in the upcoming years.

North America is Projected Expected to Hold a Larger Market Share in the Spinal Surgery Devices Market

From a geographical overview, North America is poised to hold a larger market share in the global spinal surgery devices market. This can be mainly attributed to the rising number of spinal disorders, growing number of spinal injuries in athletes, rapid innovations in spinal surgery technologies and an increasing demand for minimally invasive procedures in this region.

Competitive Landscape Analysis: Spine Surgery Devices Market

Some of the well-established and promising players operating in the spinal surgery devices market are listed below: -
• Medtronic
• DePuy Synthes
• NuVasive
• Globus Medical
• Stryker Corporation, among others

Aggressive Growth Strategies Adopted by the Leading Market Players to Establish Their Strong Foothold in the Spinal Surgery Devices Market

All the established and key players operating in the global spinal surgery devices market are adopting both organic and inorganic growth strategies such as collaborations, acquisitions, innovations and new product launches to garner a larger market share.

For instance,
In October 2022, DePuy Synthes, announced they have received 510(k) clearance from the FDA for its ALTALYNE™ Ultra Alignment System for adolescent spinal deformities, such as scoliosis.
In September 2022, NuVasive, announced the commercial launch of its Reline Cervical, a new fixation system for posterior cervical fusion (PCF), in targeted regions.

Explore More Detailed Insights on Spinal Surgery Devices Market Report @ https://meditechinsights.com/spine-surgery-devices-market/

Ruta Halde
Associate, Medi-Tech Insights
121/7E Avenue Franklin Roosevelt,
1050 Brussels, Belgium
+32 498 86 80 79
info@meditechinsights.com
https://meditechinsights.com/

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

This release was published on openPR.