Global Spine Surgery Devices Market is forecasted to grow at a CAGR of ~5 % by 2027

Spinal surgery devices are used to restore and improve the mechanical stability of the spine, correct and maintain spinal alignment and improve the spinal fusion caused by trauma or slipped discs originating from degenerative intervertebral disks.

Slowdown/Decline in the Demand for Spine Surgery Devices Points to An Upcoming Recession

Due to an upcoming recession, patients are projected to delay the elective surgical procedures including spinal fusion surgeries until the global economy looks promising. Considering the present economic and financial conditions, patients are estimated to be less willing to bear the costs of these private pays or discretionary procedures and may select to forgo such procedures. Another factor that will be limiting the placements of these devices is limited spending by hospitals amid an economic slowdown and a looming recession risk.

Developments in Spine Surgery Procedures Fuels the Demand of Spine Surgery Devices Market

For many patients, experiencing pain or discomfort due to a spinal condition, spine surgeries can become a decent option to relieve them from pain. Presently, four types of procedures represent about 90% of all spine surgeries. The ongoing investments in the minimally invasive surgery and robotic-assisted surgery technology is transforming the field of spine surgery.

An Increasing Number of Spinal Disorders Are Driving the Growth of the Spine Surgery Devices Market

Several spinal diseases such as scoliosis, kypho scoliosis (spinal deformity), cervical stenosis, craniovertebral junctional anomalies and spinal cord tumor are the common disorders affecting the cervical spine. Also, lower back pain and neck pain are considered the common spinal disorders. The recent developments in the spine surgery devices for treating spinal disorders have increased accuracy, reduced the cases of complications, and deliver good results. 

Arising Market Challenges: Spine Surgery Devices Market

The high costs of spinal treatment procedures and the risks and complications associated with the spinal surgeries such as paralysis or a spinal infection during the surgery is likely to affect the growth of the spine surgery devices market in the coming years..

Geographic Analysis: North America is Set to Hold a Larger Share in the Spine Surgery Devices Market

From a geographical outlook, North America is projected to hold a larger market share in the spine surgery devices market. This can be mainly attributed to the rising number of spinal disorders, an increasing number of spinal injuries, recent advancements in spine surgery technologies and growing demand for minimally invasive procedures.

Competitive Landscape Analysis: Spine Surgery Devices Market

Some of the leading and well-established companies operating in the global spine surgery devices market are Medtronic, DePuy Synthes, NuVasive, Globus Medical, Stryker Corporation etc.

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