Global Spine Surgery Devices Market is anticipated to grow at a decent CAGR of ~5 % by 2027
Spinal surgery devices are medical devices which are used to restore or improve 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 Spine Surgery Devices Points to An Upcoming Recession
Due to the looming recession, all patients are poised to delay the elective surgical procedures including spinal fusion surgeries until future. Considering the present economic and financial conditions, all the patients are set to be less willing to take the costs of these private payments or discretionary procedures and may choose to forgo such medical procedures. Another key factor which will be limiting the placements of these medical devices is limited spending by hospitals amid an economic slowdown and a looming recession risk.
Recent Advancements in Spine Surgery Procedures Triggers the Demand of Spine Surgery Devices Market
For medical patients, experiencing pain or discomfort due to a spinal condition, spine surgeries can be a better option to relieve the pain and return to the normal activities. Presently, four types of procedures represent almost 90% of all spine surgeries. The ongoing investments in minimally invasive surgery and robotic-assisted surgery technology is transforming the entire spine surgery segment.
Increasing Cases of Spine Disorders is Driving the Growth of Spine Surgery Devices Market
Spinal medical problems such as scoliosis, kypho scoliosis (spinal deformity), cervical stenosis, craniovertebral junctional anomalies, and spinal cord tumor are the common disorders affecting the cervical spine. Also, low back pain and neck pain are considered as common spinal disorders. The recent developments in the spine surgery devices for treating spinal disorders increases the accuracy, reduce the number of complications and deliver better results.
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.
Looming Market Challenges: Spine Surgery Devices Market
The growing costs of spinal treatment procedures and the risks and complications associated with the spinal surgeries such as paralysis or a spinal infection during the surgeries is likely to affect the growth of the spine surgery devices market in the upcoming years.
Regional Overview: North America is Poised to Hold a Larger Share in the Spine Surgery Devices Market
From a geographical overview, North America holds a larger market share in the global spine surgery devices market. This can be mainly attributed to the rising number of spinal disorders, growing number of spinal injuries in sportsmen, recent innovations in spine surgery technologies and growing demand for minimally invasive procedures.
Competitive Landscape Analysis: Spine Surgery Devices Market
Some of the top and promising industry players operating in the global spine surgery devices market are listed below: –
• Medtronic
• DePuy Synthes
• NuVasive
• Globus Medical
• Stryker Corporation, among others
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