The global spinal surgery devices market has been witnessing a CAGR of 3.15%. The key factors propelling the growth of this market are the increasing adoption rate of minimally invasive spinal surgeries, increasing technological advancements in spinal surgery, and increasing incidences of obesity and degenerative spinal conditions.
- As per the CDC data, in 2017–2018, the age-adjusted prevalence of obesity in adults was 42.4%, and there were no significant differences between men and women among all adults or by age group. The prevalence of severe obesity was highest among adults aged 40–59 compared with other age groups. These numbers are further expected to increase with changing lifestyles and food consumption methods in developed countries. Along with a likely increase in spinal problems in obese populations, owing to an increase in obesity, the degenerative spinal conditions are also expected to increase.
- Back pain is one of the most common health complaints among adults in the United States. Such pain can be caused by strained muscles or ligaments, excess weight, poor posture, psychological problems, or everyday activities. Also, with the growing geriatric population, the number of people suffering from lower back pain and other degenerative spinal conditions is also expected to increase during the forecast period.
Key Market Trends
Spinal Fusion is Expected to Hold the Highest Market Share in the Device Type Segment
In the device type segment of the spinal surgery devices market, spinal fusion is believed to have the largest market size, and it is expected to witness high growth during the forecast period.
Many products in the market provide conventional effective treatments to patients suffering from lumbar spinal stenosis, along with alternative advanced treatments for decompression spine surgery.
The major market players manufacture both anterior and posterior dynamic stabilization devices for the lumbar spine. Moreover, many clinical trials are in the process of further development. This factor is likely to offer various benefits to the market studied. A major share of the market studied is occupied by posterior screw fusion systems, due to their increased usage. The share of the same is expected to increase over the forecast period, registering a healthy CAGR.
North America Dominates the Market and is Expected to do the Same During the Forecast Period
North America currently dominates the market for spinal surgery devices, and it is expected to continue its stronghold for a few more years. The United States holds the largest share of the market, due to the increasing number of Americans suffering from lower back problems, every year. The aging population and the growing health concerns led the government to take several initiatives, thus, providing several opportunities for this market.
Hence, the market studied is expected to grow, due to a general shift in the trend toward more minimally invasive surgeries in the spinal implant market, over the forecast period.
The spinal surgery devices market is moderately competitive and consists of several major players. Moreover, with the increasing technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by introducing new technologies with better usability. Companies, like Zimmer Biomet, Stryker Corporation, Depuy Synthes, Medtronic, and Globus Medical Inc., hold substantial shares in the market.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support