$8.5 Billion Global Spinal Surgery Devices And Equipment Market Size, Growth, Segmentation And Forecast Report
The Business Research Company’s Spinal
Surgery Devices And Equipment Market covers market characteristics,
size and growth, segmentation, regional and country breakdowns, competitive
landscape, market shares, trends and strategies for this market.
The spinal surgery devices and
equipment market consists of sales of spinal surgery devices and equipment and
related services. These include spinal implants and spinal surgical devices
such as thoracic fusion and lumbar fusion devices, spine biologics, cervical
fusion devices, vertebral compression fracture treatment devices, spine bone
stimulators, non-fusion devices and spinal decompression devices.
Major players in the market are Zimmer Biomet, Stryker Corporation, Depuy
Synthes, Medtronic and Globus Medical Inc.
Elderly people are a major
driving factor for the spinal surgery devices and equipment market as they are
more prone to spinal complications. Spinal disorders majorly affect the
geriatric population and results in spinal deformities and pain. As per UN 2017
estimates, worldwide geriatric population will double by 2050 to reach an
estimated value of more than 2.1 billion boosting market growth in the future.
Increasing trend in the aged populations worldwide will provide a lucrative
growth to the spinal implants and devices.
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The high cost of treatment
restrains the spinal surgery devices and equipment market from reaching its
maximum potential growth. According to a study conducted over a year to analyze
cost variations, the total cost of the surgeries at the hospitals was found to
vary between $27, 000 and $129,000. More than $90 billion a year is spent on
treating lower back pain alone. Due to the steadily increasing cost of
procedures the rate of implementing spinal surgery devices has come down this a
major restraint for the large scale hospitals, clinics as well as new entrants
for the market.
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Implementing Nano-technology to
improve the quality, precision and speed of the work is the latest trend in the
spinal surgery devices market. Nanoparticles possess unique chemical,
biological and physical properties which enables them to perform a wide variety
of cellular and subcellular tasks. Spinal pathology is a major field of study
for Nano-technology. To fully implement Nano-technology, hospitals and clinics
are waiting for FDA regulations and exploring options to reduce costs.
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