Spinal Surgery Market Share 2022 Analysis, Key Players Profiles, Future Prospects and Forecasts to 2030
The global spinal surgery market is expected to grow by a moderate CAGR of 5.1% during the forecast period, i.e., 2022-2030.
Research Nester released a report titled “Spinal Surgery Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global spinal surgery market in terms of market segmentation by products, surgery type, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global spinal surgery market is projected to grow with a CAGR of 5.1% during the forecast period, i.e., 2022-2030 on account of the growing investments by the major market players for the innovation of advanced surgical devices to treat the increasing number of spinal surgeries in the world. In addition, the increasing prevalence of obesity owing to unhealthy and stressed lifestyles is also estimated to drive market growth in the upcoming years.
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The market is segmented by products into thoracic fusion & lumbar fusion devices, cervical fusion devices, spine biologics, vertebral compression fracture treatment devices, non-fusion devices, spinal decompression devices, and spine bone stimulators. Among these segments, the thoracic fusion & lumbar fusion devices segment is expected to hold the major share in the global spinal surgery market as a result of the increasing number of cases registered for lumbar degenerative disc disease across the world.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the market in North America is predicted to hold the largest share in terms of revenue over the forecast period. This can be attributed to the strong presence of leading manufacturers of spinal surgical devices in the region, who are extensively involved in funding the research and development for the launch of innovative products for spinal surgery in the region.
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Growing Investments in R&D for Technological Advancements for Spinal Injuries to Drive Market Growth
The increasing number of road accidents has led to a major share of spinal injury cases globally. As a result, there is a growing demand for spinal surgical instruments and devices. Presently, minimally invasive surgeries are the most used procedure for spinal surgery among individuals. The prominent manufacturers of spinal surgery devices are continuously investing in their businesses to develop better and technically advanced products, which is expected to drive the global spinal surgery market’s growth over the upcoming years.
However, the high cost of spinal surgeries, and lack of expertise in underdeveloped countries are estimated to restrain market growth in the near future.
This report also provides the existing competitive scenario of some of the key players of the global spinal surgery market which includes company profiling ofStryker Corporation, Abbott Laboratories, Medtronic Plc, Orthofix International N.V., Nuvasive, Inc., Boston Scientific Corporation, B. Braun Melsungen, Aurora Spine Corporation, Zimmer Biomet Holdings Inc., Globus Medical and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global spinal surgery market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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