According to FutureWise analysis the market for spinal surgery devices and equipment in 2023 is US$ 13.09 billion, and is expected to reach US$ 18.93 billion by 2031 at a CAGR of 4.70%.
Spinal surgery devices and equipment are used to treat degenerative disc disease and spondylolisthesis, among other conditions. Increased geriatric population and increased occurrences of spinal illnesses are driving market growth. Furthermore, the market is expected to rise as the number of indications for spinal fusion surgery grows. Spinal fusion, for example, was formerly only used to treat scoliosis and spinal tb, but it is currently utilised to treat 14 other conditions. In men and women over the age of 50, spine problems such as spinal stenosis are the most common condition. Spinal deficits are common in the elderly, especially among those with comorbidities and/or impaired immunity. With the emergence of new age spinal surgery devices and equipment, therapy possibilities at the spinal level are constantly expanding. Furthermore, the usage of these implants and devices is one of the most successful and recommended treatments for spinal misalignments and degenerative alterations. The trend toward minimally invasive spine operations, the rise in the prevalence of spinal illnesses, and innovations in spine surgery are all major factors driving the growth of the spinal surgery devices and equipment market. As practitioners and surgeons focus on treating corona patients, hospitals have announced reductions, postponements, or cancellations of elective procedures, including many orthopaedic and spine cases. This interruption in corporate operations and other related procedures has a direct impact on market revenue drift. As a result, the market for spinal surgery devices and equipment is likely to be hampered by the aforementioned factors. On the contrary, demand for spinal surgery devices and equipment is predicted to be driven by rising markets. Furthermore, technological improvements in augmented and virtual reality, endoscopic surgery, and 3d printed implants for minimally invasive surgery are likely to drive market expansion.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Spinal Surgery Devices And Equipment Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Spinal Surgery Devices And Equipment Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.