Spinal Surgery Products Market to Outdo Estimation of US$ 15.5 Billion by 2030, Opines Fact.MR

The spinal surgery products market is expected to reach US$ 15.5 billion by 2030, growing at a CAGR of 4.3% from its current market value of around US$ 11 billion in 2022.

The prevalence of various anomalies, including age-related spinal problems and degenerative diseases, is predicted to boost demand for spinal surgery equipment. Additionally, it is projected that increased outpatient spine treatments and government spending on spine care will further propel the market.

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Market Titans

• Zimmer Biomet
• Stryker Corporation
• Depuy Synthes
• Medtronic
• Globus Medical Inc.
• RTI Surgical Holdings
• Ulrich GmbH & Co. KG
• B. Braun Melsungen AG
• Seaspine Holdings Corporation

Upshots

• Market is dominated by North America during the forecast period due to new product releases, surge in biologics research, and growth in the prevalence of spinal illnesses.
• US dominate the spine surgery products market due to various factors that contribute to the market share of the country. For instance, as per the survey by the Centers for Disease Control and Prevention on the health status of U.S. adults, 50.2 Million Americans report having chronic pain on many days in a week.
• Europe market is expected to witness expansion due to favorable health bill reimbursement and strong demand for medical equipments in countries such as UK, Germany.
• Rise in the number of spinal procedures ha been witnessed due to surge in prevalence of spine illnesses across the globe. The need for spinal surgery devices has thus increased as a result.
• Factors such as surge in demand for minimally invasive spinal treatments, rapid adoption of biologics in spinal fusion, and a prominent rise in several cervical and lumbar disc replacement surgeries.
• Market is expected to witness impressive growth in various geographies such as Asia Pacific due to the rising geriatric population, increasing prevalence of degenerative illnesses, and lower back discomfort.
• Other factors such as the expansion of prominent manufacturers' distribution networks in emerging countries and rising healthcare spending surgery products market in various geographies such as Latin America, the Middle East, and Africa are expected to drive the growth of the market.
• Surge in prevalence of orthopedic cases and high growth of geriatric population is driving demand for orthopedic spine devices

Competitive Strategies

Market is moderately competitive and comprises of a few prominent competitors. Moreover, mid-size to smaller enterprises are improving their market position by offering new technologies as an outcome of the increased technology breakthroughs and product innovations.

For instance:

• In December 2021, Spine Wave introduced the Defender Anterior Cervical Plate & the Stronghold C 3D Titanium Interbody Device, both of which use TiCell 3D advanced surface technology
• Moreover, examples of the most recent additions to Medtronic PLC's ecosystem for minimally invasive spine surgery are Catalyft PL and PL40, Space-D Access System, and Accelerate Graft Delivery System with Grafton DBF.

Structure Insights

· By Device:
•
o Fusion Devices
o Non-fusion Devices
o Others

· By Disease Indication:

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

· By End Use:

o Hospitals
o Ambulatory Surgery Centers
o Specialty Clinics
o Others

· By Region:

o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o MEA

The report will improve the revenue impact of businesses in various industries by:

• Providing a framework tailored toward understanding the attractiveness quotient of various products/solutions/technologies in the market
• Guiding stakeholders to identify key problem areas pertaining to their consolidation strategies in the global market and offers solutions
• Assessing the impact of changing regulatory dynamics in the regions in which companies are keen on expanding their footprints
• Provides understanding of disruptive technology trends to help businesses make their transitions smoothly
• Helping leading companies make strategy recalibrations ahead of their competitors and peers
• Offers insights into promising synergies for top players aiming to retain their leadership position in the market.
How can Fact.MR Make Difference?
• In-depth understanding of key industry trends shaping the present growth dynamics
• Offers value chain analysis and price trend analysis of various offering of competitors
• Offers data-drive decision to help companies decide strategies that need recalibration
• Offers insights into areas in research and development that should attract
• Identifies data outliers before your competitors

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About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That's why focus on offering insights that can actually make a difference to bottom-lines.

This release was published on openPR.