Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
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.
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:
Our in-depth analysis of the global cervical spine surgery market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The growing incidence of cervical spine disorders and increasing investment in the development of advanced cervical spine surgeries are the key factors driving market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
The uncertainties related to reimbursement policies and lack of awareness about cervical spine surgeries in lower economic regions are estimated to hamper market growth.
The market in Asia Pacific region will provide ample growth opportunities owing to the increasing awareness about cervical spine surgery and the consequent decrease in surgical costs in the region.
The major players dominating the cervical spine surgery market are Medtronic, PLC, DePuy Synthes, Stryker Corporation, and NuVasive, Inc., among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by surgery type, end-user and region.
With respect to end-user, the general medical hospitals’ segment is anticipated to hold the largest market share owing to the presence of relatively more developed infrastructure for surgical procedures in this segment.
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