|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The spinal surgery devices market is expected to register a CAGR of 4.5% during the forecast period (2022–2027).
The COVID-19 pandemic has significantly impacted the spinal surgery devices market worldwide. In addition to the effects of the disease on public health, there was also a collateral effect on the disruption and cancelation of surgical services. For instance, a research study titled "COVID-19 pandemic and elective spinal surgery cancelations - what happens to the patients?" published in PubMed, in December 2021, stated that due to the reallocation of resources to the care of COVID-19 patients, the COVID-19 pandemic resulted in a suspension of elective procedures. Following the start of elective surgeries, a considerable number of patients continued to postpone surgery, with many still waiting to be rescheduled, potentially prolonging their discomfort and impairment of function. The study concluded that over one-third of the elective spine procedures that were canceled due to COVID-19 had not been performed in the eight months since the procedures were resumed. Such instances are anticipated to have an adverse impact on the demand for spinal surgery devices over the pandemic phase.
Furthermore, the CovidSurg Collaborative, a 120-country research initiative formed to analyze the impact of the COVID-19 pandemic on surgeries, predicted that approximately 28.4 million elective surgeries were canceled or postponed in 2020. Thus, impacting the demand for spinal surgery devices worldwide. Likewise, as per an article published in 2021 under the title, "The Impact of the COVID-19 Pandemic on Spine Surgery in Central Europe: A Questionnaire-Based Study", the COVID-19 pandemic resulted in comparable restrictive measures for spinal surgical departments in Central Europe. As per the same source, elective surgical interventions were reduced. Such incidences have reduced the use of spinal surgery devices owing to the lower number of surgeries performed. However, the market is expected to gain traction over the coming years as a result of declining COVID-19 cases and the resumption of elective surgeries.
Further, the key factors propelling the growth of this market are the increasing adoption rate of minimally invasive spinal surgeries, an upsurge in technological advancements in the spinal surgery sector, and growing incidences of obesity and degenerative spinal conditions. For instance, in June 2021, a team of engineers and clinicians at the University of Cambridge developed an ultra-thin, inflatable spinal device that can be used to treat the most severe forms of pain without the need for invasive surgery. Moreover, in July 2021, NuVasive's Pulse platform for spine surgery received United States Food and Drugs Administration (USFDA) 510 (k) approval. Such developments are fueling the adoption and demand for spinal surgery devices, thereby contributing to the market's growth.
Furthermore, the increasing prevalence of obesity is also contributing to the market growth. For instance, as per the June 2021 statistics by the World Health Organization (WHO), 39 million children under the age of 5 were overweight or obese in 2020. As the obese population with a higher Body Mass Index (BMI) was more vulnerable to spine-related disorders and back pain, the demand for spinal surgeries among this age group is likely to increase soon, ultimately driving the growth of the spinal surgery devices market.
However, the stringent regulatory process for new product approvals and expensive treatment and procedures are the major factors that restrain the market's growth.
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. The Spinal Surgery Devices Market is segmented by Device Type (Spinal Decompression, Spinal Fusion, Fracture Repair Devices, Arthroplasty Devices, Non-fusion Devices) and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the market size and forecasts in value (USD million) for the above segments. 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.
|By Device Type|
|Fracture Repair Devices|
Key Market Trends
The Spinal Fusion Segment is Expected to Hold the Highest Market Share Over the Forecast Period
COVID-19 had a notable impact on the spinal surgery field globally. Many hospitals have postponed elective procedures in order to reduce the danger of transmission and to guarantee the availability of medical resources. The article published in 2020 under the title "Spine Surgery and COVID-19: The Influence of Practice Type on Preparedness, Response, and Economic Impact" stated that compared to surgeons in university and public institutions, those in private and academic practices expressed greater concern about the economic effects of the current crisis. Hence, the COVID-19 adversely impacted all spinal surgeries including spinal fusion.
Spinal fusion is one of the common procedures performed during spinal surgery. Spinal fusion is surgery to permanently connect two or more vertebrae in the spine, and eliminate motion between them. Spinal fusion involves techniques designed to mimic the normal healing process of broken bones. Numerous devices in the market provide conventionally effective treatments for patients suffering from lumbar spinal stenosis, along with advanced alternative treatments for decompression spine surgery.
The segment growth is supplemented by an increasing number of product launches and approvals. For instance, in July 2021, Orthofix Medical, a Texas-based developer of 3D printed orthopedic devices, launched its new FORZA Ti PLIF Spacer System for spinal fusion surgery. It was designed for use in posterior lumbar interbody fusion (PLIF) surgeries. Similarly, in June 2021, the Lucent 3D interbody fusion device from Spinal Elements Inc. was approved by the United States Food and Drug Administration (USFDA). Also, in June 2020, Nexxt Spine LLC, based in Indiana, obtained 510 (k) approval for two new interbody fusion devices, the "Nexxt Spine ALIF (anterior lumbar interbody fusion) and Lateral systems," which were used in anterior and lateral fusion surgery. Additionally, Such developments are likely to have a positive impact on segment growth.
The major market players operating in the industry are involved in the manufacturing of both anterior and posterior dynamic stabilization devices for the lumbar spine. For instance, in December 2021, Spine Wave announced the commercial launch of the Defender Anterior Cervical Plate and the Stronghold C 3D Titanium Interbody Device. The Defender Anterior Cervical Plate is a titanium plate and screw system that provides fixation for anterior cervical fusion procedures. Hence, due to the above-mentioned factors, the segment is expected to show lucrative growth over the forecast period.
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North America Dominates the Market and is Expected to do so Over the Forecast Period
The cancellation of many surgeries and the fear of COVID-19 spreading in the country have adversely impacted the market growth of the country. For instance, in the United States, as of May 2020, there were more than 4 million surgeries that were canceled over 12 weeks, according to CovidSurge Collaborative. Moreover as per the article published in 2021 under the title "The impact of the COVID-19 pandemic on spinal surgery" stated that as a result of the widespread cancellation of the majority of their workload, surgeons, in particular, have been impacted. To maintain emergency care with the least amount of disruption and to maximize healthcare resource conservation, spinal surgeons had to quickly adapt their services. The factors mentioned above showed that COVID-19 had a significant impact on the United States spinal surgery devices market.
The primary growth driver of the spinal surgery devices market in North America is the increasing adoption of minimally invasive spinal surgeries and technological advancements in spinal surgery. In North America, the United States currently dominates the market for spinal surgery devices, and it is expected to continue its stronghold over the coming years due to the increasing number of Americans suffering from lower back problems and spine-related disorders annually. For instance, as per the American Association of Neurological Surgeons 2021 report, as many as 450,000 people in the United States were living with a spinal cord injury (SCI). Likewise, according to an article titled “40 Back Pain Statistics (To Send a Shiver Down Your Spine)” updated in January 2022, 80% of Americans experience back pain at some point in their lives. Th above mentioned statistics indicate that increasing spinal issues lead to the rising demand for spinal surgeries within the country, thereby contributing to the market growth.
Furthermore, several market players are also engaged in the implementation of strategic initiatives, thereby contributing to market growth. For instance, in June 2021, Spectrum Spine, a spinal device supplier, and leader in the development of spinal surgical device inventions acquired a highly unique and proprietary surface technology for spinal trauma and has begun operations with the device.
Hence, the market studied is likely to be impacted by the aforementioned factors over the forecast period.
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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 ZimVie Inc, Stryker Corporation, Johnson and Johnson (DePuy Synthes), Medtronic, and Globus Medical Inc. hold substantial shares in the market.
Johnson and Johnson (DePuy Synthes)
- In December 2021, Spine Wave launched both the Defender Anterior Cervical Plate and the Stronghold C 3D Titanium Interbody Device featuring TiCell 3D advanced surface technology.
- In September 2021, Medtronic PLC announced the latest additions of Catalyft PL and PL40, Space-D Access System, and Accelerate Graft Delivery System with Grafton DBF to its minimally invasive spine surgery ecosystem.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 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
5.1.2 Spinal Fusion
22.214.171.124 Cervical Fusion
126.96.36.199 Interbody Fusion
188.8.131.52 ThoracoLumbar Fusion
184.108.40.206 Other Spinal Fusions
5.1.3 Fracture Repair Devices
5.1.4 Arthroplasty Devices
5.1.5 Non-fusion Devices
5.2.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.2.4 Middle-East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
5.2.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Medtronic PLC
6.1.2 Styker Corporation
6.1.3 Johnson and Johnson (DePuy Synthes)
6.1.4 Globus Medical Inc.
6.1.5 Alphatec Spine Inc.
6.1.6 ZimVie Inc.
6.1.7 Orthofix Holdings Inc.
6.1.8 Abbott Laboratories
6.1.9 Boston Scientific Corporation
6.1.10 B. Braun Melsungen AG (Aesculap Inc.)
6.1.11 Aspen Medical Products, LLC
6.1.12 Camber Spine Technologies, LLC
6.1.15 Surgalign Spine Technologies, Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Frequently Asked Questions
What is the study period of this market?
The Global Spinal Surgery Devices Market market is studied from 2019 - 2027.
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 2021.
Who are the key players in Global Spinal Surgery Devices Market?
Stryker Corporation, Globus Medical, Medtronic PLC, ZimVie Inc., Johnson and Johnson (DePuy Synthes) are the major companies operating in Global Spinal Surgery Devices Market.