Global Spine Surgery Devices Market is poised to grow at a CAGR of ~5 % by 2027 : Medi-Tech Insights

BRUSSELS - Feb. 15, 2023 - PRLog -- Spinal surgery devices are used to improve the mechanical stability of the spine, correct and maintain the spinal alignment and further enhance the spinal fusion caused by trauma or slipped discs originating from degenerative intervertebral disks.

Decline in the Demand for Spine Surgery Devices Points to A Looming Recession

Due to an upcoming recession, all patients are set to further delay their elective surgical procedures including spinal fusion surgeries until the broader economies looks promising. Considering, the present economic and financial situations, all patients are estimated to be less willing to take the costs of the private payments or discretionary procedures and may choose to delay such medical procedures. Another major factor that will be limiting the applications of these devices is limited spending by hospitals amongst an an upcoming recession risk.

Recent Advancements and Developments in Spine Surgery Procedures Boosts the Demand of Spine Surgery Devices Market

For patients experiencing severe pain or discomfort from a spinal condition, spine surgery can be a decent option to relieve their pain and return to their daily activities. Presently, four types of medical procedures represent about 90% of all spine surgeries done. The ongoing investments in minimally invasive surgeries and robotic-assisted surgery technology is transforming the spine surgery segment.

Rising Occurrence of Spinal Disorders Are Driving the Spine Surgery Devices Market Growth

Critical spinal problems 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, low back pain and neck pain are considered as the most common spinal disorders. Recent developments in spine surgery devices for treating spinal disorders boosts the accuracy, reduces the cases of complications and deliver better results.

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

From a geographical overview, North America holds a higher market share in the global spine surgery devices market. This can be mainly attributed to the rising number of spinal disorders, growing cases of spinal injuries in athletes, innovations in spine surgery technologies and growing demand for minimally invasive procedures.

Competitive Landscape Analysis: Global Spine Surgery Devices Market

Some of the leading and promising market players operating in the global spine surgery devices market are as listed below: -

• Medtronic
• DePuy Synthes
• NuVasive
• Globus Medical
• Stryker Corporation, among others

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