Spine Therapy Market Size, Share, Growth, Sales Revenue and Key Drivers Analysis Research Report by 2027

Market Size – USD 12.39 Billion in 2019, Market Growth – CAGR of 5.9%, Market Trends – Increasing adoption of effective technologies.

NEW YORK, NY, UNITED STATES, March 31, 2022 /EINPresswire.com/ — The global spine therapy market is forecast to reach USD 19.60 Billion by 2027, according to a new report by Reports and Data. Low back pain is becoming increasingly common throughout the globe. It is affecting people of all ages from children to elderly, low back pain can be acute or chronic. The growing demand for spine surgeries and the latest generation spine implants, the advent of bioabsorbable spine implants, and the availability of a wide range of recently approved spine implants are some of the growing trends, which can supposedly contribute to the market’s growth. With the 3D printed, and custom fit spine implants taking the market, growth opportunities for vendors is likely to skyrocket as this increases demand for innovations among consumers. The biodegradable spine implants which are currently available commercially can disrupt the global spine therapy market effectively.

The invasive surgeries segment, on the other hand, is projected to witness faster growth and is likely to increase its share at a CAGR of 6% during the forecast period. Further, high penetration of invasive surgical techniques in emerging countries such as India, Brazil, China, Mexico, and South Africa is boosting the MI spine surgeries segment.

The COVID-19 impact:

The outbreak raised concern on the value of hygiene and healthcare. The market has experienced a downturn over the weeks, which may continue over the next few months. This pandemic has affected the Asia Pacific region the most, with China at the center of the outbreak. Most initiatives have come to a temporary halt in multiple countries. The production, as well as supply, has been put on hold, causing losses to the manufacturers, dealers as well as consumers. The market might be facing a downside for the period. Still, with a rising health concern, the demand would be hitting the roof as soon as there is a development in the condition.

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Market Overview:

The pharma and healthcare industry is rapidly expanding in terms of revenue over the last few years and is expected to register significant revenue growth over the forecast period of 2028. Rapid advancements in the healthcare sector, rapid growth in the medical and healthcare sectors, availability of latest equipment and tools, rising healthcare expenditure and improvements in healthcare infrastructures are some key factors driving global market revenue growth. In addition to this, increasing investments in research and development activities, rising prevalence of various diseases and dearth of medications and hospitals during the ongoing COVID-19 pandemic are boosting market growth. Increasing number of funds by public and private sectors, rising adoption of point-of-care diagnosis and home settings, high demand for precision medicine and ongoing research on drug discovery are also expected to fuel market growth going ahead.

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Competitive Landscape

The report sheds light on the competitive landscape of the global Spine Therapy market and details about each market player, global position, financial standing, license agreement, and product and service portfolio along with business expansion plan. Major players are investing in research and development activities to develop and launch new products and services and are also focusing on adopting key strategies such as mergers and acquisitions, partnerships, joint ventures and collaborations to strengthen their market position and enhance their product base.

Leading companies operating in the global Spine Therapy market include:

Medtronic, Depuy Synthes, Stryker, Nuvasive and Globus Medica, whose profiles have been well documented in the report.

Global Spine Therapy market segmentation:

Product Outlook (Revenue, USD Billion; 2017-2027)

Fusion Devices
Non-fusion Devices
Stimulation Devices

Application Outlook (Revenue, USD Billion; 2017-2027)

Open Surgery
Minimally Invasive Surgery

Procedure Outlook (Revenue, USD Billion; 2017-2027)

Discectomy
Laminotomy
Foraminotomy
Corpectomy
Facetectomy

Technology Outlook (Revenue, USD Billion; 2017-2027)

Spinal Fusion and Fixation Technologies
Vertebral Compression Fracture Treatment
Motion Preservation Technologies

End User Outlook (Revenue, USD Billion; 2017-2027)

Hospitals and Ambulatory Surgery Centers
Specialty Clinics
Others

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Regional analysis covers:

North America
U.S.
Canada
Mexico
Europe
Russia
U.K.
Germany
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
Israel
Rest of MEA

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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