The proposed Global Spinal Devices Market report will encompass all the qualitative & quantitative aspects including the market size, market estimates, growth rates & forecasts & hence will give you a holistic view of the market. The study also includes detailed analysis of market drivers, restraints, technological advancements & competitive landscape along with various micro & macro factors influencing the market dynamics.
Global Spinal Devices Market size was valued at US$ 12.51 Mn in 2020 and the total revenue is expected to grow at 3.9% through 2021 to 2027, reaching nearly US$ 16.35 Mn. by 2027.
Spinal Devices Market Overview:
Spinal devices are used to restore bodily sensations including movement and feeling in the event of a spinal cord damage. The patient has serious diseases that are unrelated to back injuries, such as pinched nerves, spinal stenosis, or burst discs. As the world's population ages and spinal stenosis becomes more common, it is projected that the need for spinal implants will increase quickly.
Some of the most often utilised spinal devices include thoracolumbar and cervical fixation systems, mobility preservation tools, interbody tools, spinal electrical stimulation, and vertebral compression fracture (VCF) therapy.
The Spinal Devices market research provides a comprehensive perspective of the competition, including the market share and company profiles of the top players in the global industry. The scope of the research covers a thorough examination of the Spinal Devices Market, as well as the causes for variances in the industry's growth in a variety of sectors.
Market Scope:
Top-down and bottom-up approaches are used to validate the market size and estimate the market size by different segments. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). The percentage splits, market shares, and segment breakdowns are computed using weights assigned to each segment based on usage rate and average sale price. To determine the country-wise splits of the overall market and its sub-segments, the percentage adoption or usage of the given market Size in the relevant area or nation is employed.
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Segmentation:
In 2020, the business segment with the highest profitability was fusion systems. The sub-segment is anticipated to maintain its dominance over the projected period because of favourable aspects like the rising rate of spinal illnesses and the rising number of spinal fusion operations. Due to an increase in automobile accidents, abrupt journeys, sports, and other causes of spinal damage, the traumas & fractures section dominated the market. In 2020, the open surgery sub-segment dominated the global spinal devices market. Over the forecast period, it is expected to grow at a 2.2% CAGR.
Key Players:
Secondary research is used to identify market leaders, while primary and secondary research is used to establish market revenue. Secondary research comprised a review of the leading manufacturers' annual and financial reports, whilst primary research included thorough interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are used to calculate percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then validated using primary sources.
The biggest players in the Spinal Devices market are as follows:
• Medtronic
• Stryker
• Zimmer Biomet, Inc.
• DePuy Synthes
• NuVasive, Inc.
• Globus Medical
• RTI Surgical Holdings, Inc.
• Aesculap, Inc.
• Alphatec Spine, Inc.
• Vertiflex, Inc.
• Siemens Healthcare GmbH
• Orthpfix Holdings, Inc.
• CONMED
• Aspen Medical Products
• Smith & Nephew
• Other Key Players
Regional Analysis:
Individual market influencing components and changes in market legislation that affect current and future market trends are also covered in the Spinal Devices market study's regional overview. Current and future trends are investigated in order to analyze the overall market potential and find profitable patterns in order to get a more firm footing. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Spinal Devices Market:
End-user industries where Spinal Devices are utilized saw a decline in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a pause in operations. This resulted in a significant drop in the revenues of enterprises in these industries, as well as in demand for Spinal Devices manufacturers, affecting the Spinal Devices market's growth in 2020. End-user business demand for Spinal Devices has plummeted as a result of lockdowns and an increase in COVID-19 events throughout the world.
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Competitive Strategic Window:
In terms of markets, applications, and geographical regions, the Competitive Strategic Window analyses the competitive environment. The vendor can define an alignment or fit between their skills and opportunities for potential future growth with the use of the competitive strategic window. It establishes the best or most advantageous match for the vendors to implement further merger and acquisition plans, geography expansion strategies, research and development strategies, and new product introduction strategies to carry out future business expansion and growth.
Key Questions Answered in the Spinal Devices Market Report are:
- In 2021, which segment accounted for the most share of the Spinal Devices market?
- What is the competitive landscape of the Spinal Devices market?
- What are the key factors influencing Spinal Devices market growth?
- In the Spinal Devices market, which region has the most market share?
- What will be the CAGR of the Spinal Devices market during the forecast period (2022-2027)?
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