The global spinal osteosynthesis units market corporation is anticipated to grow, with a projected compound annual growth rate (CAGR) of 4.8% from 2023 to 2033. This trajectory is expected to propel the market value from a predicted US$ 3,075.3 million in 2023 to a significant US$ 4,927.2 million by 2033, according to Future Market Insights.
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COVID-19’s Effect on the Healthcare Sector
The world economy has been significantly impacted by the COVID-19 epidemic on a number of fronts, including the healthcare sector. The shutdown of industrial facilities, a severe shortage of raw materials, and a lack of potential staff are likely to cause a dramatic decline in sales during the lockdown period in the growing market of health care research and development. The pandemic’s present effects suggest that there have been some small hiccups in supply chain and industry activity. But after COVID-19, the market is anticipated to steadily rebound, offering lucrative prospects for sales in a number of global locations in the upcoming years.
Market Drivers: Increasing Spinal Surgeries and Prevalence of Spinal Conditions
The market for spinal osteosynthesis units is fueled by several factors:
- Rising Number of Spinal Surgeries: The sharp rise in spine procedures is one of the main drivers. The increasing frequency of several spinal disorders, including spondylolisthesis, degenerative disc disease, fractures, scoliosis, and spine infections or malignancies, is the cause of this increase. Patients seek surgical remedies as a result of these problems, which can cause excruciating back pain and even spinal impairment. Thus, spinal osteosynthesis units become more and more necessary as surgical instruments.
- Growing Incidence of Spinal Conditions: Because of the aging of the world’s population, age-related spinal disorders such as lumbar spondylosis are on the rise. In addition, scoliosis and spinal fractures are becoming more common due to lifestyle choices and traumas. The need for spine osteosynthesis units is rising as a result of the increasing number of spinal procedures required due to this increased disease burden.
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Competitive Scenario:
Some of the prominent players profiled in the global market are-
- Medtronic
- Zimmer Biomet
- Stryker
- Johnson & Johnson
- RTI Surgical
- B. Braun
- NuVasive,
- Orthofix
- MicroPort
- Globus Medical
- Alphatec
- Xtant Medical
- Wego
- Integra LifeSciences
- Ulrich Medical
Recent Developments in the Spinal Osteosynthesis Units Market
- In May 2023, NuVasive, Inc., the leader in spine technology innovation, focused on transforming spine surgery with minimally disruptive, procedurally integrated solutions.
- In April 2023, Alphatec Holdings, Inc., a provider of innovative solutions dedicated to revolutionizing the approach to spine surgery, announced that it has acquired all assets related to the REMI Robotic Navigation System from Fusion Robotics, LLC, and a privately held medical technology company.
Key Segments Profiled in the Spinal Osteosynthesis Units Industry Survey
By Product Type:
- Thoracolumbar Osteosynthesis Unit
- Lumbar Spinal Osteosynthesis Unit
- Lumbosacral Osteosynthesis Unit
- Thoracolumbosacral Osteosynthesis Unit
- Occipitocervicothoracic Osteosynthesis Unit
- Cervical Thoracic Lumbo Sacral Osteosynthesis Unit
By Surgical Approach:
- Posterior
- Anterior
- Lateral
By Patient Type:
- Adult
- Pediatric
By End User:
- Hospital
- Specialty Clinic
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- The Middle East and Africa
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