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HEALTHCARE & PHARMACEUTICAL

Spinal Surgery Market Segmentation by Products (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); by Surgery Type; and by End-Users – Global Demand Analysis and Opportunity Outlook 2030

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Extensive insights into the Growth of Spinal Surgery Market amidst COVID-19

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

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IN THE NEWS

  • January 2020: Medtronic Plc, announced that they have strategically acquired Stimgenics, LLC, to expand their product portfolio for spinal cord stimulation (SCS) waveform known as Differential Target Multiplexed (DTM) Spinal Cord Stimulation.  

Global Spinal Surgery Market Highlights 2022-2030

The global spinal surgery market is expected to grow by a moderate CAGR of 5.1% during the forecast period, i.e., 2022-2030. The global market for spinal surgery market is expected to witness significant growth in the upcoming years on the back of increasing cases of spinal disorders globally. Along with this, the increasing prevalence of obesity among adults has led to increasing spinal problems, which is projected to create significant opportunities for the global market to grow. According to the Centers for Disease Control and Prevention (CDC), the prevalence of obesity was 42.4% in the year 2017-2018. Additionally, changing lifestyles owing to increasing stress among the millennial population and growing use of caffeine and alcohol is expected to lead to a rising demand for spinal surgical devices in the future. Furthermore, favorably changing patient reimbursement policies to minimize the gap between out-of-pocket expenses and government-covered expenses is expected to result in the rise in the adoption of innovative medical products in the coming years. CLICK TO DOWNLOAD SAMPLE REPORT

Global Spinal Surgery Market

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, out of which, the thoracic fusion & lumbar fusion devices segment is expected to occupy the largest share on account of the increasing number of cases of lumbar degenerative disc diseases across the world.  Moreover, based on end-users, the hospital segment is predicted to hold the largest share in the global market on the back of the increasing number of patients suffering from spinal surgeries and rising number of road accidents globally.  

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Spinal Surgery Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The Asia-Pacific region is expected to witness remarkable market growth in the future, with the highest CAGR on the back of the growing number of road-based accident cases and the increasing prevalence of obesity in the region. Moreover, increasing implementation of advanced devices for surgical procedures among Asian countries is evaluated to lead to a rise in the requirement for spinal surgery products. Furthermore, the North American market is expected to hold the most significant share over the forecast period, which can be primarily attributed to the presence of leading healthcare service providers and increasing investment by the market players to innovate surgical products in the region. Along with these, the vast and improved healthcare infrastructure in the United States is one of the major factors assessed to drive the region’s market growth.

Global Spinal Surgery Market

The global spinal 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 spinal surgery market includes the following segments:

By Product

  • Thoracic Fusion & Lumbar Fusion Devices
    • Posterior Thoracic Fusion and Lumbar Fusion Devices
    • Interbody Thoracic Fusion and Lumbar Fusion Devices
    • Anterior Thoracic Fusion and Lumbar Fusion Devices
  • Cervical Fusion Devices
    • Anterior Cervical Fusion Devices
    • Posterior Cervical Fusion Devices
  • Spine Biologics
    • Demineralized Bone Matrix
    • Bone Substitutes
    • Allograft Bone
    • Cell-Based Matrices
    • Others
  • Vertebral Compression Fracture Treatment Devices
    • Balloon Kyphoplasty Devices
    • Vertebroplasty Devices
  • Non-Fusion Devices
    • Dynamic Stabilization Devices
    • Artificial Discs
    • Annulus Repair Devices
    • Nuclear Disc Prostheses
  • Spinal Decompression Devices
    • Discectomy
    • Foraminotomy
    • Corpectomy
    • Others
  • Spine Bone Stimulators
    • Noninvasive Spine Bone Stimulators
    • Invasive Spine Bone Stimulators

By Surgery Type

  • Open Surgery
  • Minimally Invasive Surgeries

By End-User

  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgical Centers (ASCs)
  • Others

Growth Drivers

  • Increasing Technological Advancements in Surgical Technologies
  • Rising Demand for Minimally Invasive Surgical Procedures

Challenges

  • High Cost of Spinal Surgery
  • Lack of Skilled Surgeons in Underdeveloped Nations

Top Featured Companies Dominating the Market

  •  Stryker Corporation
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • 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

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