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

According to The Business Research Company’s Spinal Surgery Devices And Equipment Global Market Report 2024, the spinal surgery devices and equipment market is expected to show promising growth in the forecast period.

Introduction

The spinal surgery devices and equipment market has witnessed substantial growth in recent years, and the trend is projected to continue. Factors such as rising incidences of spinal disorders, increasing demand for spine surgeries, and technological advancements are driving this growth trajectory.

Market Growth Overview

• The market size is expected to grow from $13.77 billion in 2023 to $14.76 billion in 2024, with a compound annual growth rate (CAGR) of 7.2%.
• By 2028, it is forecasted to reach $18.87 billion, exhibiting a CAGR of 6.3%.

Factors Driving Growth

• Rising incidences of spinal disorders
• Increasing burden of obesity
• Growing demand for spine surgeries in emerging markets
• Rising incidences of osteoarthritis and spinal stenosis
• Rapid growth in the elderly population
• Launch of advanced bone grafting products
• Increasing adoption of minimally invasive spine surgeries

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Trends in the Forecast Period

• Development of robot-assisted devices
• Investment in AR & VR for spinal surgery
• Advancements in inflatable, shape-changing spinal implants
• Adoption of nanosurface technology for novel biomaterials
• Focus on smart metals and motion preservation devices
• Growth of 3D printing technologies
• Offering patient-specific instrumentation and adaptive spine technology (AST)
• Emphasis on minimally invasive and endoscopic spinal surgery

Rising Road Accidents Drive Demand

• The increasing number of road accidents is expected to propel market growth.
• Spinal surgery devices are crucial for accurate diagnosis and treatment of spinal injuries caused by road accidents.
• Nearly 1.3 million people die each year from road accidents according to the World Health Organization, highlighting the significance of these devices.

Major Players

• Leading companies include Medtronic PLC, Johnson & Johnson, Stryker Corporation, NuVasive, Inc., Zimmer Biomet Holdings, Inc., and Globus Medical, Inc., among others.

Advancements in Nano-Technology

• Nano-technology is revolutionizing spinal surgery devices by enhancing precision and speed.
• Nanoparticles offer unique properties for cellular and subcellular tasks, improving outcomes in spinal pathology.
• FDA clearance for Nano-textured spinal fusion devices, like those by Vallum Corporation, indicates a growing acceptance of this technology.

Globus Medical’s Acquisition of NuVasive Inc.

• In November 2021, Globus Medical Inc. acquired NuVasive Inc. for $3 billion, expanding its presence in the spinal surgery devices market.
• This strategic move strengthens both companies’ portfolios and positions them for further growth and innovation.

Market Segmentation

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 And Minimally Invasive Surgery (MIS)

Regional Insights

• North America dominated the global spinal surgery devices and equipment market in 2023, indicating a strong foothold in this region.

Conclusion

The spinal surgery devices and equipment market is poised for robust growth driven by technological advancements, rising healthcare needs, and strategic acquisitions. As the industry continues to evolve, innovations such as nano-technology and minimally invasive techniques will play pivotal roles in improving patient outcomes and reshaping the landscape of spinal surgery.

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