Demand for Spine Devices Products is Anticipated to Rise at a CAGR Value of 4.5% by 2031 End

250 Pages Spinal Devices Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider

According to Fact MR’s recent market research, sales of Spinal Devices to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges.

Focus on improving overall patient care will remain a chief growth driver. Besides this, Spinal Devices market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.

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Sales revenue from the global spine devices market was recorded at US$ 11 Bn in 2020, and is predicted to increase 1.5X by the end of the decade. These findings are from a revised analysis performed by Fact.MR, a market research and competitive intelligence provider. Demand for spine products is anticipated to rise at a CAGR of 4.5% through 2031.

Analysts have reported that the spine devices industry accounted for a little more than 2.5% share of the global medical devices market, which was valued at around US$ 430 Bn in 2020. Manufacturers are working on developing advanced spine fixation devices that would reduce the complexity in spinal surgery procedures.

Global Market Value in 2020 US$ 11 Bn
Forecasted Market Value for 2031 US$ 17 Bn
CAGR (2021-2031) 4.5%
Dominant Market North America

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Spinal Devices market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Spinal Devices

Spine devices market regional analysis by Fact.MR

The report offers actionable and valuable market insights of Spinal Devices. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Spinal Devices Market across various industries and regions.

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Key Segments Covered in Spine Devices Industry Survey

·         By Product:

    • Spinal Rods
    • Spinal Screws
    • Spinal Hooks
    • Spinal Plates
    • Spinal Cages
    • Spinal Spacers
    • Motion Preservation Devices
    • Total Disc Replacement

·         By End User:

    • Use of Spine Devices in Hospitals
    • Use of Spine Devices in Orthopaedic Clinics
    • Use of Spine Devices in ASCs

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Competitive Landscape

Leading players in the spine devices market are focusing on developing new devices to reduce the complexity of spinal procedures. The focus is on developing new and advanced devices that are more precise and efficient.

  • A spine technology company, Spinal Elements, in September 2021, announced the commercial launch of its two Luna XD and Orbit Systems. These products are part of the company’s newest technology range in the MIS Ultra platform, which also has procedural solutions as well.
  • A leading medical device company, Centinel Spine LLC, in September 2021, announced the launch of new endplate implants. This would expand the variety of options to choose from for patients as well as medical professionals. Demand for spinal implants and devices is expected to drive such launches by different players operating in the market.
  • In the first week of October 2021, Medtronic, a leading name in the medical device industry, announced the launch of three new devices to its spinal devices portfolio. They will be a part of the minimally invasive spinal ecosystem that the company is building.

Key Takeaways from Market Study

  • Sales revenue from spine devices predicted to be worth US$ 17 Bn by end of decade.
  • Demand for spine devices expected to progress at a stable CAGR of 4.5% through 2031.
  • U.S. expected to be most lucrative market in the world.
  • Global spine devices market worth around US$ 11 Bn in 2020.
  • U.K. and Germany expected to be lucrative markets for spine devices in European region.
  • APAC market slated to rise at fastest CAGR through 2031.
  • Increasing incidence of spinal injuries, rising prevalence of spinal disorders, robust research & development in spine treatment procedures, and rising geriatric population driving industry expansion.

“Research & development of new and advanced spine devices is anticipated to be the most crucial aspect that would shape the market over the next ten years,” says a Fact.MR analyst.

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Report Benefits & Key Questions Answered

  • Spinal Devices Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
  • Spinal Devices Historical volume analysis: The report provides a comparison of Spinal Devices’s historical sales and projected sales performance for 2021-2031.
  • Spinal Devices Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Spinal Devices market. It carefully gauges the impact of changing healthcare needs of key demographics globally
  • Spinal Devices Consumption by demographics: The report investigates consumer behavior affecting Spinal Devices demand outlook for the assessment period. Effect of their keenness for digital trends on Spinal Devices market is carefully analyzed
  • Post COVID consumer spending on Spinal Devices: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Spinal Devices market growth.

More Valuable Insights on Spinal Devices Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Spinal Devices, Sales and Demand of Spinal Devices, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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About Fact.MR

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