Global Spinal Devices Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Spinal Devices Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Spinal Devices market finds that the global Spinal Devices market reached a value of USD 10759.7 million in 2022. It’s expected that the market will achieve USD 14325.1 million by 2028, exhibiting a CAGR of 4.89% during the forecast period.

Influence of COVID-19 Outbreak on Spinal Devices Industry Development

Under the outbreak of COVID-19, the most difficult to get through is SMEs. The sharp decline in income has made the inadequate cash flow more tense. In addition to the two mountains of rent and labor, whether spinal devices companies can survive depends on when COVID-19 can be lifted.

The impact of COVID-19 on spine devices is severe. Spine medical devices are not just needed. Under the outbreak, no matter whether it is a specialty clinic, a chain institution or a large specialty hospital, it is basically in a non-operational state. If the business of a group of institutions is bleak and it is difficult to support high employee wages and house rents, and other fixed expenses are forced to close down, the direct impact on equipment companies is not only that there is no business to do in the short term, but also a group of customers will be lost after the epidemic.

Therefore, the impact on these medical device companies will be considerable at least in the short term. Inventory backlog, rent and labor costs will continue to be invested. At least within half a year, these medical device manufacturers will face great survival pressure, especially a group of small and medium-sized enterprises, it is very likely to accelerate bankruptcy.

Strength

Most leading companies in the industry have a scale advantage, which provides a strong expenditure for the sustainable development of the company.
Some companies have technological advantages and brand advantages, which can meet the diverse needs of customers and promote the development of new markets.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

Medtronic, Johnson & Johnson Medical, NuVasive, Stryker and Zimmer Biomet are the five key players in the global Spinal Devices market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Spinal Devices market in the past 5 years.

Medtronic, Inc. headquartered in Minneapolis, Minnesota, USA, it is one of the world's largest medical technology companies, mainly providing lifelong treatment solutions for patients with chronic diseases. The Company offers surgical devices, medical instruments, apparatus, respiratory monitoring systems, medical supplies, and other equipments. Medtronic serves patients and health care professionals worldwide.

Johnson & Johnson Medical, Inc. manufactures surgical appliances and supplies. The Company offers products which are used by health care industries in the fields of orthopaedics, neurological disease, vision care, diabetes care, infection prevention, diagnostics, cardiovascular disease, and aesthetics.

Segmentation Overview:

Among different product types, Thoracolumbar Open Fixation Devices segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Hospital segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Spinal Devices market covered in Chapter 3:

NuVasive
Medtronic
B. Braun Medical
Alphatec Spine
RTI Surgical
Johnson & Johnson Medical
Zimmer Biomet
Globus Medical
Stryker
SeaSpine
Orthofix

In Chapter 4 and Chapter 14.2, on the basis of types, the Spinal Devices market from 2018 to 2029 is primarily split into:

Thoracolumbar Open Fixation Devices
Cervical Spine Fixation Devices
Interbody Fusion Devices
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Spinal Devices market from 2018 to 2029 covers:

Hospitals
Clinics
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)