The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Adult Spinal Deformity Global Market Report 2024, the adult spinal deformity market is expected to show significant growth in the forecast period.

Market Overview

• The adult spinal deformity market has shown significant growth in recent years, with the market size expanding from $2.28 billion in 2023 to an estimated $2.42 billion in 2024.
• This growth, at a compound annual growth rate (CAGR) of 6.1%, is driven by factors such as an increasing aging population, advancements in surgical techniques, and a growing prevalence of degenerative disc disease.
• Additional contributors include rising awareness of spinal health, technological innovations, and improved healthcare infrastructure.

Future Growth Projections

• The market is expected to continue its upward trajectory, reaching $3.09 billion by 2028, at a CAGR of 6.2%.
• Key drivers of this growth include an increasing incidence of spinal deformities, a surge in demand for specific devices, expanding regional markets, and a focus on complex deformities and degenerative conditions.
• Trends such as advancements in technology, minimally invasive procedures, 3D printing and customization, robotic-assisted surgery, digital technologies, and personalized treatments are anticipated to shape the market.

View More On The Adult Spinal Deformity Market Report 2024 – https://www.thebusinessresearchcompany.com/report/adult-spinal-deformity-global-market-report

Impact of Rising Obesity Rates

• The rising obesity rates are expected to propel the growth of the adult spinal deformity market.
• Obesity, characterized by a body mass index (BMI) of 30 or higher, contributes to mechanical stress on the spine, increasing the risk of spinal deformities.
• For example, in England, 25.9% of adults were estimated to be living with obesity in 2021–2022, up from 25.2% in the previous year, highlighting a growing need for spinal deformity solutions tailored to obese patients.

Major Players in the Market

• Key companies in the adult spinal deformity market include Abbott Laboratories, Medtronic plc, Johnson & Johnson MedTech, Stryker Corporation, Boston Scientific Corporation, and B Braun Melsungen AG, among others.
• These companies are leading the market through continuous innovation and the development of advanced spinal deformity treatment solutions.

Focus on Patient-Specific Solutions

• A major trend in the market is the focus on patient-specific solutions and innovative implant technologies.
• Companies are developing advanced implant technologies, such as titanium alloys and polymer composites, to enhance structural support and facilitate corrective procedures.
• For instance, Orthofix Medical Inc. launched the Mariner deformity pedicle screw system in January 2023, designed for complex adult deformity spine cases, offering a comprehensive implant solution that enhances operational efficiency and reduces costs.

Mergers and Acquisitions: Driving Innovation

• Mergers and acquisitions are playing a critical role in advancing spinal surgery innovations.
• In September 2023, Globus Medical Inc. merged with NuVasive Inc., aiming to combine strengths in spinal surgery technologies and expand their market presence.
• This merger is expected to enhance their capabilities in delivering innovative and minimally invasive solutions, ultimately improving patient outcomes and driving market growth.

Market Segmentation

• The adult spinal deformity market is segmented by type (Scoliosis, Kyphosis, Lordosis), product type (Cervical Fixation Devices, Interbody Fusion Devices, Thoracolumbar Devices), procedure (Spinal Fusion Surgery, Osteotomy, Spinal Deformity Correction, Spinal Arthrodesis, Spinal Fixation, Minimally Invasive Spinal Surgeries), and application (Hospitals And Clinics, Ambulatory Surgical Centers).

Regional Insights

• North America was the largest region in the adult spinal deformity market in 2023, driven by high healthcare spending and advanced medical infrastructure.
• Asia-Pacific is expected to be the fastest-growing region during the forecast period, due to rising healthcare investments, improving infrastructure, and increasing awareness of spinal health.

In conclusion, the adult spinal deformity market is poised for robust growth, driven by technological advancements, rising prevalence of spinal conditions, and increasing obesity rates. Companies are focusing on innovation and strategic mergers to enhance their market position and offer better patient outcomes.

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