Research Nester released a report titled “Cervical Spine Surgery Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global cervical spine surgery marketin terms of market segmentation by surgery type, end-user and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The cervical spine surgery marketis projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 on account of the increasing prevalence of cervical spine disordersand the rising expenditure in the development of advanced cervical spine surgeries. As per the data collected from the National Healthcare Safety Network, in the U.S., around 14.2 million inpatient surgical procedures were performed in 2014.
The market is segmented by surgery type into cervical spinal fusion surgery, anterior cervical discectomy & fusion, anterior cervical corpectomy & fusion, and others. Among these segments, the anterior cervical discectomy & fusion segment is anticipated to hold the largest share by the end of 2021 in the cervical spine surgery marketas a result of its usage in treatment of multiple cervical spine disorders. On the basis of end-user, the market is segmented into general medical hospitals, ambulatory surgical centers, clinics, and others.
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On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the cervical spine surgery market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in North America holds the largest share. This can be attributed to the presence of leading healthcare providers in the region, especially in the United States, who are extensively involved in the research and development for innovative cancer treatment procedures.
Increasing Prevalence of Cervical Spine Disorders and Rising Expenditure in the Development of Advanced Cervical Spine Surgeries to Drive Market Growth
According to the United Nations, it is estimated that by 2050, every one in six people will be 65 years or older, i.e., 16% of the total world population. Along with this, the number of persons above 80 years or older is also projected to triple by the end of 2050.
Age is one of the most predominant risk factors for any kind of cervical spine disorder. It has been observed that individuals whose age is above 65 years or more possess a high risk of having cervical spine disease. Additionally, the increasing prevalence of cervical spine disorders in recent years is also expected to boost the market growth in upcoming years. However, apprehensions related to reimbursement policies and lack of awareness about cervical spine surgeries in lower income economies are some of the factors that are estimated to restrain market growth in the near future.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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This report also provides the existing competitive scenario of some of the key players of the global cervical spine surgery marketwhich includes company profiling of Medtronic PLC (NYSE: MDT), DePuy Synthes, Stryker Corporation (NYSE: SYK), NuVasive, Inc. (NASDAQ: NUVA), Zimmer Biomet (NYSE: ZBH), RTI Surgical, Globus Medical, Inc. (NYSE: GMED), Boston Scientific (NYSE: BSX), and Abbott Laboratories (NYSE: ABT). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global cervical spine surgery marketthat will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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