Spinal Surgery Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Spinal Surgery Devices Market By Product Type (Thoracic Fusion And Lumbar Fusion Devices [Posterior And Interbody]), (Cervical Fusion Devices [Anterior, And Posterior]), Spine Biologics, Vertebral Compression Fracture Treatment Devices, Spinal Decompression Devices, Spinal Bone Stimulators), Non-Fusion Devices ([Dynamic Stabilization Devices, Artificial Discs, Annulus Repair Discs, And Nuclear Disc Prosthesis]), By Technology (Spinal Fusion & Fixation, Vertebral Compression Fracture Treatment, Spinal Decompression, Motion Preservation), By Surgery Type (Open Surgery And Minimally Invasive Surgery), And End-User (Hospitals, Speciality Clinics, And Ambulatory Surgical Centers), and by geography is expected to advance at a respectable CAGR forecast till 2030 owing to the rising incidence of spinal disorders, and rising research and development activities for development of better products

The global spinal surgery devices market is estimated to grow at a CAGR of 5.65% during the forecast period from 2024 to 2030. The spinal surgery devices market is observing remarkable market growth owing to various factors such as the subsequent rise in spinal disorders across the globe, increasing road accidents, and increasing demand for minimally invasive surgical procedures among others. Further, the increasing demand for technologically advanced spinal surgery devices in the market will also spur market growth in the forthcoming years. Additionally, a rise in spending on spinal surgery products along with the increasing product launches and approvals, and other factors will create a requisite for the spinal surgery devices in the market. Therefore, the market for spinal surgery devices is estimated to grow at a substantial CAGR during the forecast period from 2024 to 2030.

Spinal Surgery Devices Market Dynamics:

One of the key aspects driving the spinal surgery devices market is the rising number of permanent or temporary disabilities owing to the increasing number of road accidents leading to spinal cord injury, and rising workplace injuries are also driving the market growth.

For instance, the American Society of Plastic Surgeons in 2020, stated that among all the cosmetic minimally invasive procedures performed in the United States, laser spinal surgery was the third most performed procedure, which accounted for 757,808 procedures in 2020. Thus, the increasing adoption of minimally invasive procedures such as laser spinal surgery procedures creates demand for technically advanced laser spinal surgery devices and is creating opportunities for the growth of the segment in the future.

Furthermore, the continuous new product launches by key players in the market are positively affecting the growth of spinal surgery devices. For instance, on October 07, 2022, Amber Implants announced the grant of the Food and Drug Administration breakthrough status for their spinal systems. The VCFix Spinal systems are considered to improve vertebral fractures and thereby had been developed for patients suffering from spinal injuries.

Additionally, according to the 2022 statistics of Spinal Cord Injuries Australia, a non-government organization, approximately 15,000 of the Australian population suffer from a spinal cord injury (SCI) and traffic crashes contribute to 46% of all the cases whereas, falls contribute to around 36% of all the traumatic SCI cases.

Moreover, the increasing road traffic spinal injuries, and degenerative disc diseases, are projected to impel the growth of the global spinal surgery devices market. Therefore, the factors stated above collectively will drive the overall spinal surgery devices market during the forecast period from 2024-2030.

However, the higher cost of spinal surgery and devices, adverse effects caused by the spinal surgery devices, and others may prove to be challenging factors for the spinal surgery devices market growth.

The spinal surgery devices market was negatively impacted during the period of COVID- 19 pandemic. To curb the spread of infection the government across the globe imposed strict lockdown rules, resulting in the shortage of supply chains, raw materials, and other resources in the market, leading to the decreased manufacturing of all medical devices including spinal surgery devices. Moreover, the patients and physicians postponed many surgeries to stop the spread of the infection, thereby decreasing the number of in-patient visits in hospitals and clinics. However, the vaccine development of COVID-19 has initiated the process of economic recovery with the easing of lockdown restrictions and the return of normalcy in the economic landscape, which has initiated the process of resumption of regular healthcare services such as regular out-patients visits for treatments and sessions in hospitals and clinics, thereby bringing the demand for spinal surgery devices on track.

Spinal Surgery Devices Market Segment Analysis:

Spinal surgery Devices Market By Product Type (Thoracic Fusion and Lumbar Fusion Devices [Posterior And Interbody]), (Cervical Fusion Devices [Anterior, and Posterior]), Spine Biologics, Vertebral Compression Fracture Treatment Devices, Spinal Decompression Devices, Spinal Bone Stimulators), Non-Fusion Devices ([Dynamic Stabilization Devices, Artificial Discs, Annulus Repair Discs, and Nuclear Disc Prosthesis]), By Technology (Spinal Fusion & Fixation, Vertebral Compression Fracture Treatment, Spinal Decompression, Motion Preservation), By Surgery Type (Open Surgery and Minimally Invasive Surgery), and End-User (Hospitals, Specialty Clinics, And Ambulatory Surgical Centers), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the product type segment of the spinal surgery devices market, the posterior lumbar fusion devices segment is expected to have a significant revenue share in the year 2023. This was primarily owing to the rising availability of technologically advanced products in the market, rising product launches and approvals, and wide advantages offered by the posterior lumbar fusion devices segment.

For instance, posterior lumbar fusion devices offer various technological advantages such as enhancing mechanical stability, optimizing sagittal parameters, and maximizing the fusion potential.

Furthermore, it offers a minimally invasive approach that is capable of using on two smaller incisions and might reduce the need to disrupt the back muscles. The device also offers various other advantages such as a reduction in the level of blood loss and a reduction in postsurgical incisional pain.

Furthermore, the increasing product launches, approvals, and other regulatory activities among the key players will spur the demand for spinal surgery devices during the forecast period.

Therefore, owing to the above-mentioned factors, the demand for posterior lumbar fusion devices rises, thereby category is expected to witness considerable growth eventually contributing to the overall growth of the global spinal surgery devices market during the forecast period.

North America is expected to dominate the overall spinal Surgery Devices Market:

Among all the regions, North America is expected to dominate the global spinal surgery devices in the year 2023 and is expected to do the same during the forecast period from 2024-2030.

Further, the United States represents the largest market worldwide supported by a large patient pool in the region. Rising product launches and commercialization agreements among key manufacturers and other companies are further anticipated to boost the market growth. For instance, on June 07, 2022, the United States Food and Drug Administration granted the 510k clearance for the Aurora Spine's Interbody fusion device. The DEXA SOLO-L ALIF device allows doctors to match the implant to patients' bone density and quality.

Europe and Asia-Pacific region have the future potential growth for Global Spinal Surgery Devices. Some of the attributing factors such as support provided by the government by easy approval for bringing new products into the market and easy reimbursement policies in the European region countries and some Asian countries. Additionally, the huge popularity and high adoption rate owing to the availability of various options available in the market are some of the key factors that are likely to drive the Spinal Surgery market. Also, rising spinal diseases are one of the leading chronic diseases in the European region leading to an increase in demand for Spinal Surgery Devices. For instance, according to a study published in Scientific Reports in 2022, degenerative changes develop over time; the increased prevalence of degenerative spine pathology with age is therefore expected. Thus, early diagnosis of these diseases for effective and efficient management can propel the Spinal Surgery Devices market in the region.

Spinal Surgery Devices Market Key Players:

Some of the key market players operating in the spinal surgery devices market include Medtronic, Johnson & Johnson, Stryker, NuVasive, Zimmer Biomet, Globus Medical, Inc., Alphatec Spine, Inc., Orthofix Holdings, Inc., RTI Surgical Holdings, Ulrich GmbH & Co. KG, B. Braun Melsungen AG, Seaspine Holdings Corporation, and others.

Recent Developmental Activities in the Spinal Surgery Devices Market:

On October 05, 2022, Amber Implants VCFix® spinal system received the United States Food and Drug Breakthrough Designation. It aims to improve the treatment of vertebral fractures.

On June 22, 2022, Medtronic reinforced the spine surgery portfolio with the Food and Drug Administration nod for the ligament-augmenting implant.

On May 31, 2022, Cork Medtech company Intelligent Implants received Breakthrough Device Designation from the US Food and Drug Administration (FDA) for its device that monitors recovery after surgeries such as spinal fusion.

Key Takeaways from the Spinal Surgery Devices Market Report Study

• Market size analysis for current spinal surgery devices market size (2023), and market forecast for 5 years (2024-2030)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the spinal surgery devices market.
• Top key products/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global spinal surgery devices market.
• Various opportunities available for the other competitor in the Spinal Surgery Devices market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030.
• Which are the top-performing regions and countries in the current spinal surgery devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for spinal surgery devices market growth in the coming future?

Target Audience who can be benefited from this Spinal Surgery Devices Market Report Study

• Spinal surgery Devices products providers
• Research organizations and consulting companies
• Spinal Surgery Devices related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in spinal surgery devices
• Various end users who want to know more about the spinal surgery devices market and the latest technological developments in the spinal surgery devices market.

Frequently Asked Questions for the Spinal Surgery Devices Market:

1. What are spinal surgery devices?

Spinal surgery devices are used in surgical procedures for the implantation of titanium, titanium alloy, stainless alloy, or non-metallic devices into the spine.

2. What is the global market for spinal surgery devices?

The global spinal surgery devices market is estimated to grow at a CAGR of 5.65% during the forecast period from 2024 to 2030.

3. What are the drivers for the global spinal surgery devices market?

The spinal surgery devices market is witnessing positive market growth owing to the factors such as the growing demand for spinal implants, rising demand for technologically advanced spinal surgery devices in the market, increasing demand for minimally invasive procedures, rising prevalence of spine-related disorders, increasing product launches and approvals, and others will create a demand for the spinal surgery devices in the market.

4. Who are the key players operating in the global spinal surgery devices market?

Some of the key market players operating in the spinal surgery devices market include Medtronic, Johnson & Johnson, Stryker, NuVasive, Zimmer Biomet, Globus Medical, Inc., Alphatec Spine, Inc., Orthofix Holdings, Inc., RTI Surgical Holdings, Ulrich GmbH & Co. KG, B. Braun Melsungen AG, Seaspine Holdings Corporation and others.

5. Which region has the highest share in the spinal surgery devices market?

Among all the regions, North America is estimated to amass a significant revenue share in the global spinal surgery devices market. This can be ascribed to the increasing demand for spinal surgery devices such as implants, increasing spinal surgery procedures, and the presence of key market players in the region are some of the key factors which are driving North America's spinal surgery devices market growth.