Cervical Spine Surgery Market Highlights 2020-2029
The cervical spine surgery market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. The growing incidents of cervical spine disorders, along with the increasing investment in the development of advanced cervical spine surgeries, are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as the increasing geriatric population which are more vulnerable to cervical spine diseases and the efficacy of cervical spine surgery in reducing the burden of cervical spine disorders on a global level. According to the United Nations, it is projected that by 2050, every one out of six people will be 65 years or older, i.e., 16% of the total global population. Along with this, the number of persons above 80 years or older is also estimated to triple by the end of 2050.
The market is segmented on the basis of surgery type into cervical spinal fusion surgery, anterior cervical discectomy & fusion, anterior cervical corpectomy & fusion, and others, out of which, the anterior cervical discectomy & fusion segment is anticipated to grab the largest share by the end of 2021 on account of its use in treatment of a number of cervical spine disorders. Moreover, anterior cervical discectomy & fusion is widely used as a combination of discectomy and fusion surgery in order to stabilize the cervical segment post-surgery, which is also projected to contribute to the growth of the segment during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of end-user, the general medical hospitals’ segment in the global cervical spine surgery market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that general medical hospitals have relatively more developed infrastructure for surgical procedures compared to other segments, which results in a considerable portion of the population with cervical spine problems on a global level opting for such healthcare facilities.
Cervical Spine Surgery Market Regional Synopsis
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increasing awareness about cervical spine surgery and the consequent decrease in surgical costs in the region. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the increasing elderly population, accompanied by the presence of leading healthcare service providers in the region. Along with this, North America also leads in terms of medical research and patient care, which is also expected to contribute to the market growth in the region. Alternatively, the market in Europe is also anticipated to occupy a significant share in the cervical spine surgery market on account of rising preference for minimal invasive surgeries in the region. As per the research study published by European Spine Journal, the presence and severity of radiographic disc degeneration in the cervical spine, increases with ageing.
The global cervical spine surgery market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global cervical spine surgery market includes the following segments:
By Surgery Type
- Cervical Spinal Fusion Surgery
- Anterior Cervical Discectomy & Fusion
- Anterior Cervical Corpectomy & Fusion
- Others
By End-User
- General Medical Hospitals
- Ambulatory Surgical Centers
- Clinics
- Others
Growth Drivers
- Growing Incidence of Cervical Spine Disorders
- Increasing Investment in the Development of Advanced Cervical Spine Surgeries
Challenges
- Uncertainties Related to Reimbursement Policies
- Lack of Awareness About Cervical Spine Surgery in Lower Economic Regions
Top Featured Companies Dominating the Market
- Medtronic, PLC
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- DePuy Synthes
- Stryker Corporation
- NuVasive, Inc.
- Zimmer Biomet
- RTI Surgical
- Globus Medical, Inc.
- Boston Scientific
- Abbott Laboratories
