As per this new industry analysis by Fact.MR, a market research and competitive intelligence provider, the Spinal Trauma Devices Market is currently valued at US$ 3.2 billion and is predicted to expand at 5.2% CAGR through 2032.
Devices for stabilizing spinal injuries are known as spinal trauma devices. As the compression in the damaged area of the spine is reduced, it makes it easier for patients to walk. This gives the body more time to heal by lowering discomfort and stress on the injured area.
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Rising accident injuries, increased focus on medical equipment research and development, adoption of cutting-edge IT healthcare technologies, increasing the world’s geriatric population, and improvements in healthcare infrastructure, particularly in developing countries, are the main factors driving the growth of the spinal trauma devices market.
Over the projection period, the healthy demand for spinal trauma devices from hospitals and ambulatory surgical centers (ASCs) is anticipated to be driven by the increasing incidence of sports-related injuries and an increase in the number of traffic accidents. The number of multispecialty hospitals that work to provide appropriate treatments for trauma injuries will also rise, particularly in emerging countries, which will raise the sector’s revenue.
Key Takeaways from Market Study
- Global sales of spinal trauma devices are expected to increase at a CAGR of 5% from 2022 to 2032.
- The global market for spinal trauma devices is projected to reach US$ 5.2 billion by 2032.
- China’s market is predicted to expand at a high CAGR of 8.6% during the forecast period.
- Sales of internal fixation devices are likely to increase at a CAGR of 5.5% from 2022 to 2032.
“Primary factors driving spinal trauma device sales are growing cases of traffic accidents, rising incidence of patients suffering from spinal cord injuries, ageing population, and rise in demand for devices that effectively manage spinal cord injuries”, says a Fact.MR analyst.
As a result of the increased technological discoveries and product improvements, mid-size to smaller businesses are expanding their market share by providing new technologies with higher usability.
- In September 2019, Stryker released a spine journal in which the company discussed the results of Sakos’ pivotal trials or spinejack system. In terms of decreasing ALF (adjacent level fracture) and reconstructing the vertebral body, the trial’s findings demonstrated that the spinejack system is superior to alternative methods.
- Medtronic unveiled the Infinity OCT spinal system in September 2018. The device was developed to ensure effective cervical spinal surgery and is outfitted with biologics and navigation. The efficiency of the neck and upper back fusion processes will be improved with increased usage of the infinite OCT spinal system.
Regional Analysis of the Spinal Trauma Devices Market
The Spinal Trauma Devices Market exhibits varying dynamics across different regions, contributing to a diverse landscape of opportunities and challenges.
North America, with its advanced healthcare infrastructure and robust research and development capabilities, holds a significant share in the market. The region’s well-established medical facilities and high healthcare expenditure contribute to the adoption of cutting-edge spinal trauma devices. Additionally, favorable reimbursement policies and increasing awareness about spinal health further bolster market growth in this region.
In Europe, stringent regulatory standards and a strong emphasis on patient safety drive the demand for high-quality spinal trauma devices. Countries like Germany, the UK, and France boast sophisticated healthcare systems, encouraging the uptake of innovative devices. The presence of skilled medical professionals and a growing geriatric population prone to spinal issues also contributes to the market’s expansion.
The Asia Pacific region is witnessing rapid growth due to improving healthcare infrastructure and a rising patient population. Emerging economies such as China and India are focusing on enhancing their healthcare systems, resulting in increased demand for advanced spinal trauma devices. Rising disposable incomes, coupled with increasing awareness about spinal health, are propelling market growth in this region.
Latin America and the Middle East and Africa regions are also showing potential growth opportunities, driven by increasing healthcare investments and a growing number of trauma cases. However, challenges related to limited access to quality healthcare and economic constraints can impact market growth in these regions.
In conclusion, the global Spinal Trauma Devices Market displays a diverse regional landscape, with each region influenced by unique factors. North America and Europe benefit from advanced healthcare systems and strict regulatory standards, while the Asia Pacific region experiences rapid growth due to improving healthcare infrastructure and rising awareness. Meanwhile, Latin America and the Middle East and Africa regions present growth prospects alongside challenges tied to healthcare accessibility and economic limitations.
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