Market Size of Brazil Spinal Surgery Devices Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | 4.97 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Brazil Spinal Surgery Devices Market Analysis
The Brazil spinal surgery devices market is expected to register a CAGR of 4.97% over the forecast period.
The healthcare system witnessed enormous challenges as a result of the COVID-19 pandemic. All outpatient treatments were postponed or restricted during the COVID-19 pandemic to reduce the risk of viral transmission, as most chronic therapies were regarded as non-urgent. For instance, an article published in the World Neurosurgery Journal in November 2021 indicated that the neurooncological practice was one of the most affected by the pandemic due to restricted elective procedures and new triage protocols. The COVID-19 pandemic has increased costs per procedure for various neurosurgical procedures. Such factors affected the market growth during the COVID-19 pandemic. However, with the number of COVID-19 cases reducing and the decrease in the severity of the virus, the market is expected to grow significantly over the forecast period.
The Brazil spinal surgery devices market will show rapid growth due to increasing incidences of obesity and degenerative spinal conditions and technological advances in spinal surgery.
Also, there was a continuous increase in the prevalence of excess weight, overweight, and obesity in Brazil. According to an article published in the PLOS One Journal in September 2021, there was a need for raising an alert to the problem and the urgent need for initiatives aimed at controlling overweight and obesity since excess weight affected half of the Brazilian population. Therefore, the rate of obesity in Brazil is on the rise. These numbers are further expected to increase with changing lifestyles and food consumption methods in developed countries. Along with a likely increase in spinal problems in obese populations, owing to the rise in obesity, degenerative spinal conditions are also expected to increase.
Moreover, per the WHO and the Brazilian Institute of Geography and Statistics, by 2040, the senior population in Brazil (aged 60 years) will reach approximately 55 million, resulting in a high prevalence of chronic functional neurological disorders that can be treated using spinal surgery. Despite increasing hospital admissions of this population, studies on most neurological disorders among older adult inpatients are scarce, particularly in Brazil. Therefore, with the increase in the geriatric population, the number of people suffering from lower back pain and other degenerative spinal conditions, which demand spinal surgical treatment, is expected to increase during the forecast period.
However, the expensive treatment procedures associated with spinal surgery are likely to slow down the growth of the studied market over the forecast period.
