Market Snapshot
| Study Period: | 2018-2026 |
| Base Year: | 2020 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | North America |
| CAGR: | 4.5 % |
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Market Overview
The spinal surgery devices market was valued at about USD 9,350 million in 2020, and it is expected to reach USD 12,245 million in 2026, registering a CAGR of nearly 4.50% over the forecast period, 2021-2026.
In addition to the effects of the disease on public health, there is also the collateral effect of near‐universal disruption and cancelation of surgical services. Post-operative recovery rooms and intermediate‐care units are being used as care units outside regular intensive care to manage sick patients affected by COVID‐19. In Singapore, in the first six weeks of the pandemic, 50% of elective surgeries were canceled, according to the article by Soh, Tamara Lee Ting, published in 2020. Thus, there is a real threat of disruption to surgical services, and there may be difficulty in maintaining critical surgical care during the COVID-19 period.
The key factors propelling the growth of this market are the increasing adoption rate of minimally invasive spinal surgeries, increasing technological advancements in spinal surgery, and increasing incidences of obesity and degenerative spinal conditions.
As per the Centers for Disease Control and Prevention data, in 2017–2018, the age-adjusted prevalence of obesity in adults was 42.4%, and there were no significant differences between men and women among all adults or by age group. The prevalence of severe obesity was the highest among adults aged 40–59 years compared to other age groups. These numbers are further expected to increase with changing lifestyles and food consumption methods in developed countries.
According to the British Medical Journal, 135 million Indians were affected by obesity in 2018, and the situation is expected to get worse, especially among children. In India, more than 27 million children are likely to be obese by 2030. Along with a likely increase in spinal problems in the obese population, degenerative spinal conditions are also expected to increase.
Back pain is one of the most common health complaints among adults in the United States. Such pain can be caused by strained muscles or ligaments, excess weight, poor posture, psychological problems, or everyday activities. Also, with the growing geriatric population, the number of people suffering from lower back pain and other degenerative spinal conditions is also expected to increase during the forecast period.
Moreover, the growing technological advancements give it a boost globally. For instance, robotic spinal surgery has become more popular these days. This technology uses computer-assisted navigation, 3D cameras, and lesser exposure to radiation to perform certain spinal surgeries.
However, the complications associated with surgeries like blood clots, excessive bleeding, dural tear, infection, etc., are major restraining factors for the growth of the market.
Scope of the Report
As per the scope of the report, spinal surgery devices are devices used for the treatment of spinal injuries or deformities. They help restructure or realign the spine. This report is segmented by device type (spinal decompression (corpectomy, discectomy, facetectomy, foraminotomy, and laminotomy), spinal fusion (cervical fusion, interbody fusion, thoracolumbar fusion, and other spinal fusions), fracture repair devices, arthroplasty devices, and non-fusion devices) and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the market size and forecasts in value (USD million) for the above segments.
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| Arthroplasty Devices | |||||||
| Non-fusion Devices |
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Key Market Trends
The Spinal Fusion Segment is Expected to Hold the Highest Market Share over the Forecast Period
By device type, the spinal fusion segment is expected to register the largest market size, and it is expected to witness good growth during the forecast period.
Many products in the market provide conventional effective treatments to patients suffering from lumbar spinal stenosis, along with advanced alternative treatments for decompression spine surgery.
The major market players manufacture both anterior and posterior dynamic stabilization devices for the lumbar spine. Moreover, many clinical trials are in the process of further development. This factor is likely to offer various benefits to the market studied. A major share of the market studied is occupied by posterior screw fusion systems due to their increased usage. The share of the same is expected to increase over the forecast period, registering a healthy CAGR.
However, the cancellation of many elective surgeries due to the COVID-19 pandemic may restrain the segment growth. According to the study published in the British Journal of Surgery, in May 2020, based on a few weeks of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide were canceled or postponed in 2020. However, with the vaccination programs being in place and the lockdowns out of place, many hospitals have restarted elective surgeries.
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North America Dominates the Market and is Expected to do so Over the Forecast Period
In the United States, as of May 2020, there were more than 4 million surgeries that were canceled over a period of 12 weeks, according to CovidSurge Collaborative. The cancellation of many surgeries and the fear of COVID-19 spread in the country are affecting the market growth in the region.
North America currently dominates the market for spinal surgery devices, and it is expected to continue its stronghold for a few more years. The United States holds the largest share of the market due to the increasing number of Americans suffering from lower back problems every year. The aging population and the growing health concerns led the government to take several initiatives, thus providing several opportunities for this market.
In 2019, more than 60% of Canadian adults were overweight or obese. Maritime provinces have the highest rates of obesity, and the lowest rates were recorded in British Columbia. Historically, the cities of Alberta, Saskatchewan, Ontario, New Brunswick, and Nova Scotia recorded significantly higher rates of overweight/obesity, and the population suffering from overweight/obesity was higher than the national average for adults. Obesity burdens the spine and leads to diseases, like degenerative disc diseases, leading to surgical correction of the spine. This is expected to boost the demand for spinal surgery devices.
Hence, the market studied is expected to grow due to a general shift in the trend toward more minimally invasive surgeries over the forecast period.
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Competitive Landscape
The spinal surgery devices market is moderately competitive and consists of several major players. Moreover, with the increasing technological advancements and product innovations, mid-size to smaller companies are expanding their market presence by introducing new technologies with better usability. Companies like Zimmer Biomet, Stryker Corporation, Depuy Synthes, Medtronic, and Globus Medical Inc. hold substantial shares in the market.
Recent Developments
- In November 2020, Aurora Spine Corporation launched the SOLO ALIF Stand-Alone Cage system, which is a stand-alone device implanted through a single incision, which promotes less trauma for the patient and decreases the surgery time.
- In January 2020, Medtronic PLC announced that it had acquired Stimgenics LLC, a company that founded a novel spinal cord stimulation (SCS) waveform known as Differential Target Multiplexed (DTM) Spinal Cord Stimulation.
Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Adoption Rate of Minimally-invasive Spinal Surgeries
4.2.2 Increasing Number of Technological Advances in Spinal Surgery
4.2.3 Increasing Burden of Obesity and Degenerative Spinal Conditions
4.3 Market Restraints
4.3.1 Stringent Regulatory Process for New Product Approvals
4.3.2 Expensive Treatment Procedures
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value – USD million)
5.1 By Device Type
5.1.1 Spinal Decompression
5.1.1.1 Corpectomy
5.1.1.2 Discectomy
5.1.1.3 Facetectomy
5.1.1.4 Foraminotomy
5.1.1.5 Laminotomy
5.1.2 Spinal Fusion
5.1.2.1 Cervical Fusion
5.1.2.2 Interbody Fusion
5.1.2.3 ThoracoLumbar Fusion
5.1.2.4 Other Spinal Fusions
5.1.3 Fracture Repair Devices
5.1.4 Arthroplasty Devices
5.1.5 Non-fusion Devices
5.2 Geography
5.2.1 North America
5.2.1.1 United States (By Device Type)
5.2.1.2 Canada (By Device Type)
5.2.1.3 Mexico (By Device Type)
5.2.2 Europe
5.2.2.1 Germany (By Device Type)
5.2.2.2 United Kingdom (By Device Type)
5.2.2.3 France (By Device Type)
5.2.2.4 Italy (By Device Type)
5.2.2.5 Spain (By Device Type)
5.2.2.6 Rest of Europe (By Device Type)
5.2.3 Asia-Pacific
5.2.3.1 China (By Device Type)
5.2.3.2 Japan (By Device Type)
5.2.3.3 India (By Device Type)
5.2.3.4 Australia (By Device Type)
5.2.3.5 South Korea (By Device Type)
5.2.3.6 Rest of Asia-Pacific (By Device Type)
5.2.4 Middle-East and Africa
5.2.4.1 GCC (By Device Type)
5.2.4.2 South Africa (By Device Type)
5.2.4.3 Rest of Middle-East and Africa (By Device Type)
5.2.5 South America
5.2.5.1 Brazil (By Device Type)
5.2.5.2 Argentina (By Device Type)
5.2.5.3 Rest of South America (By Device Type)
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Medtronic PLC
6.1.2 Styker Corporation
6.1.3 Depuy Synthes Spine Inc. (Johnson & Johnson)
6.1.4 Globus Medical Inc.
6.1.5 Alphatec Spine Inc.
6.1.6 SeaSpine Holdings Corporation
6.1.7 Zimmer Holdings Inc.
6.1.8 Orthofix Holdings Inc.
6.1.9 Nuvasive Inc.
6.1.10 Joimax GmbH
6.1.11 Abbott Laboratories
6.1.12 Boston Scientific Company
6.1.13 B. Braun Melsungen
6.1.14 Aesculap Inc.
6.1.15 Aspen Medical Products
6.1.16 Camber Spine Technologies
6.1.17 Meditech Spine
6.1.18 Orthalign
6.1.19 SpineGuard SA
6.1.20 Paradigm Spine (Surgalign Holdings)
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Spinal Surgery Devices Market market is studied from 2018 - 2026.
What is the growth rate of Global Spinal Surgery Devices Market?
The Global Spinal Surgery Devices Market is growing at a CAGR of 4.5% over the next 5 years.
Which region has highest growth rate in Global Spinal Surgery Devices Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Spinal Surgery Devices Market?
North America holds highest share in 2020.
Who are the key players in Global Spinal Surgery Devices Market?
Zimmer Biomet Holdings Inc., Stryker Corporation, DePuy Synthes Companies (Johnson and Johnson), Globus Medical, Medtronic PLC are the major companies operating in Global Spinal Surgery Devices Market.
