The global Spinal Devices Market size was USD 13.1 billion in 2022 and is expected to reach USD 19.8 billion in 2032, and register a revenue CAGR of 4.1% during the forecast period. The growth of the market may be attributed to the increasing prevalence of target conditions, among other factors.
According to data from the World Health Organization (WHO), there are an estimated 250,000 to 500,000 cases of spinal cord injuries occurring globally each year. These injuries are primarily caused by preventable factors such as road accidents, falls, or acts of violence. People affected by spinal cord injuries face a higher risk of premature death compared to those without such injuries, and this risk is even more pronounced in low and middle-income countries. Spinal cord injuries also bring the added danger of developing secondary conditions, some of which can be debilitating or life-threatening. These secondary conditions include urinary tract infections, deep vein thrombosis, muscle spasms, pressure ulcers, osteoporosis, chronic pain, and respiratory complications.
Furthermore, the World Health Organization's Global Health and Aging report indicates that the global population of individuals aged 65 and older is expected to rise significantly, going from an estimated 524 million in 2010 to approximately 1.5 billion by 2050. This increase will be particularly pronounced in developing economies. Additionally, by 2050, the number of people aged 65 and older is projected to surpass the number of children under the age of 5. Aging is associated with the degeneration of facet joints, which can lead to various spinal disorders. Consequently, the rising incidence of these conditions in the expanding elderly population is expected to drive market growth in the foreseeable future.
Get a sample copy of the Spinal Devices Market report, visit @
https://www.reportsanddata.com/download-free-sample/2505
Further key findings from the report suggest
- By device type, fusion devices contribution to the largest market share in 2020. Spinal fusion procedure is usually done for the treatment of spinal disorders, such as degenerative, deformity, traumatic, and tumor, among others.
- By surgery type, open surgery dominated the market share in 2020 and is likely to grow at a rate of 2.2% in the forecast period. Open surgery gives the visual information essential to diagnose a condition accurately. Also, some kinds of surgeries need access to larger areas to insert materials like in the case of an aortic aneurysm repair when a stent cannot be placed.
- By end-users, hospitals held the largest market share in 2020 and is expected to grow at a rate of 3.2% in the forecast period. The factors including well-resourced operating diagnostic rooms, higher purchasing power, existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.
- The market in the Asia Pacific region is likely to grow at the fastest rate of 4.7% in the period 2019-2028, due to the improving healthcare infrastructure, rising investments in diagnostic imaging, and better reimbursement scenario.
- Key participants include Medtronic, DePuy Synthes, Stryker, Zimmer Biomet, NuVasive Inc., Alphatec Spine Inc., Globus Medical, RTI Surgical Holdings Inc., Captiva Spine LLC, and Paragon Medical, among others.
To know more about the latest insights of the report, visit @
https://www.reportsanddata.com/request-latest-insight/2505
For the purpose of this report, Reports and Data have segmented the global spinal devices market on the basis of device type, disease type, surgery type, end-users, and region:
Device Type Outlook
- Fusion Devices
- Non-Fusion Devices
- Spinal Electrical Simulation Devices
Disease Type Outlook
- Degenerative Disc Disease
- Traumas Fractures
- Complex Deformity
- Others
Surgery Type Outlook
- Open Surgery
- Minimally Invasive Surgery
End-Users Outlook
- Hospitals
- Clinics
- Ambulatory Surgical Centers
Regional Outlook
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- MEA
Request a customized copy of the report @
https://www.reportsanddata.com/request-customization-form/2492
Thank you for reading our report. To inquire about customization or any query about the report, please get in touch with us. Our team will make sure the report is best suited to your needs.
Browse:
Wearable Artificial Kidney Market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Blogs | Press Release | Industry News | Our competencies
Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports
Browse More Latest Reports @ https://www.reportsanddata.com/report
