Market Size of Australia Spinal Surgery Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 384.82 Million |
| Market Size (2029) | USD 461.26 Million |
| CAGR (2024 - 2029) | 3.69 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Australia Spinal Surgery Devices Market Analysis
The Australia Spinal Surgery Devices Market size is estimated at USD 384.82 million in 2024, and is expected to reach USD 461.26 million by 2029, growing at a CAGR of 3.69% during the forecast period (2024-2029).
The COVID-19 pandemic has significantly impacted the Australian spinal surgery market. For instance, as per a March 2020 update by the Spine Society of Australia, the Spine Society of Australia supported the Australian Government's decision to temporarily suspend elective surgery, except for urgent Category 2 procedures such as unstable cervical, thoracic, and lumbar fractures, and category 1 surgery will continue, including surgical treatment of postoperative complications, other than planned revision surgeries. As a result, this reduced the total number of surgeries performed across Australia. Thus, the pandemic has resulted in lower demand for spinal surgery products, thereby impacting the market growth.
Further, the growth of the market studied can be largely attributed to factors such as the increasing demand for minimally invasive surgical procedures, the increasing incidence of obesity, the aging population, and associated spine disorders. The continuous advancements in spine surgery technologies are also expected to provide a boost to the market over the forecast period. Additionally, increasing demand for surgical procedures is driving the market's growth further. For instance, as per SpinalCure Australia 2020, each day, on average a person suffers from an injury, adding to the more than 20,000 people across Australia and millions around the world who live with the debilitating effects of a spinal cord injury. In addition, as per a November 2021 update by the Australian Institute of Health and Welfare, in June 2020, approximately 4.2 million people (16% of Australia's total population) were aged 65 and over. As the older population is more susceptible to spinal injuries and conditions, the demand for surgery products is all set to increase over the coming years, thereby, driving the market growth.
However, the high cost and time involved in treatment procedures and reimbursement issues are some of the major factors restraining the Australian spinal surgery market's growth.
