Medical Equipment

Key Opportunities And Strategies In The Spinal Surgery Devices And Equipment Market

November 30, 2022 by The Business Research Company

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The spinal surgery devices and equipment market is expected to grow from $12.43 billion in 2021 to $15.60 billion in 2026 at a rate of 4.6%. The global spinal surgery devices and equipment market size is then expected to grow at a CAGR of 5.0% from 2026 and reach $19.95 billion in 2031.

The spinal surgery devices and equipment market consists of sales of spinal surgery devices and equipment used in spinal surgery, and related services.

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Spinal Surgery Devices And Equipment Market Driver

The advancements in spine surgery technologies will support the growth in manufacturing the medical devices of spinal surgery devices and equipment market. Cervical artificial disc replacement, spinal fusion, minimally invasive sacroiliac (SI) joint fusion and vertebral augmentation are major recent advancements in spinal surgery that use the latest technologies. Spinal surgeons will focus on using less invasive approaches, preserving motion in the spinal segment, enhancing spinal fusion between adjacent segments, reducing postoperative pain and speeding recovery.

Spinal Surgery Devices And Equipment Market Trends

Companies in the Spinal Surgery device and equipment are increasingly investing in Augmented Reality (AR) and Virtual Reality (VR). AR & VR are the latest innovation that lends itself to aiding in minimally invasive spine procedures. By using augmented reality, surgical navigation helps surgeons place pedicle screws (spine surgery equipment) in accurate and safe positions. Although not actively used in the surgery process itself, virtual reality (VR) has benefits in simulation and educational aspects of the surgical discipline. The technology can artificially integrate virtual images that overlay with real-time locational data of surgical instruments. With spinal surgery being such a complex procedure, using new technological advancements such as VR will offer a level of training that was previously unavailable.

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Opportunities And Recommendations For The Spinal Surgery Devices And Equipment Market

Opportunities – The top growth potential in the spinal surgery devices and equipment market by product type will arise in the fusion devices market. The top growth potential in the spinal surgery devices and equipment market by type of surgery will arise in open surgery market. The top growth potential in the spinal surgery devices and equipment market by end user will arise in the hospitals market. The spinal surgery devices and equipment market size will gain the most in the USA.

Recommendations – The Business Research Company recommends the spinal surgery devices and equipment market companies to focus on robotics in spine surgery devices, use augmented reality (AR) and virtual reality (VR) in spine surgery, develop smart metals for spine implants, focus on 3D printing technologies, expanding in countries offering research incentives, expand in developed markets, provide competitively priced offerings, focus on securing long-term supply contracts with healthcare institutions, offer value-based pricing, participate in trade shows and events and target spinal surgeons, doctors and spinal disorder specialists.

Major Players And Regions Of The Spinal Surgery Devices And Equipment Market

Major players in the spinal surgery devices and equipment market are Medtronic plc, Johnson & Johnson, Stryker Corporation, NuVasive, Inc., Zimmer Biomet Holdings, Inc.

North America was the largest region in the spinal surgery devices and equipment market and Asia Pacific and Western Europe are expected to be the fastest-growing region in the forecast period.

The Spinal Surgery Devices And Equipment Market Report 2022 – Opportunities And Strategies – Global Forecast To 2031 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the spinal surgery devices and equipment market.

Spinal Surgery Devices And Equipment Market Segmentation By The Business Research Company

1) By Product Type: Non-Fusion Devices, Fusion Devices, Equipment

2) By End User: Hospitals, Ambulatory Surgical Centers, Specialty Orthopedic And Spine Centers

3) By Type Of Surgery: Open Surgery, Minimally Invasive Surgery (MIS)

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