Saudi Arabia Spinal Surgery Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Saudi Arabia Spinal Surgery Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Saudi Arabia spinal surgery devices market is expected to register a CAGR of 3.2% over the forecast period, (2022-2027).

The outbreak of COVID-19 in the country has affected the spinal surgery devices market in many ways as it has limited the intensive care unit (ICU) beds and ventilation sites owing to the necessity of postponing elective and/or complex spinal surgeries. For instance, according to the study report titled “The Saudi Spine Society guidelines on spinal surgery during the COVID-19 pandemic” published in June 2020, the Saudi Spine Society (SSS) Scientific Committee developed a basic protocol in 2020 in which the spine surgery candidates were categorized into category A (immediate), category B (urgent), and category C (elective). All the category A and B surgical procedures were carried out as usual, with only effect on category C (elective) which was strongly recommended to be postponed. Due to the postponement of surgeries the spinal surgery devices market had a negative impact. Also, the COVID-19 lockdown had a clear impact on the volume and mechanisms of injuries. For instance, as per the study in 2020 titled "The Impact of COVID-19 Lockdown on Injuries in Saudi Arabia: Results From a Level-I Trauma Center" published in July 2021, the ICU admissions were significantly reduced by 57% during the lockdown period in Saudi Arabia. Due to the decrease in the accidents and injuries during the lockdown period, the market was negatively impacted. However, the market is expected to gain traction over the coming years because of declining COVID-19 cases and the resumption of elective surgeries.

The factors such as increasing adoption of minimally invasive spinal surgeries and technological advancements in spinal surgeries are expected to positively impact the market in the forecast period. With recent developments like spinal navigation technology, newer minimally invasive techniques are expected to become available, enabling the integration of emerging technology in spinal surgery devices. Such advances will result in smaller incisions, less trauma to normal tissues, faster healing time, and quicker recovery. For instance, according to the Ministry of Health, Kingdom of Saudi Arabia, Health Activities report 2020, the total surgical interventions in Ministry of Health hospitals were reported as 3,98,188 out of which 6,709 cases are of neurosurgeries. This significant amount of surgical interventions will positively impact the spinal surgery devices market as majority of spinal surgery devices are used during the neurosurgery procedures.

However, the stringent regulatory process for new product approvals and expensive treatment and procedures are the major factors that may restrain the market's growth.

Key Market TrendsCervical Fusion Segment is Expected to Dominate the Market Over the Forecast Period

Cervical fusion is one of the common types performed during spinal fusion procedures. Spinal fusion is surgery to permanently connect two or more vertebrae in the spine, and eliminate motion between them. The growth of the cervical fusion segment is mainly attributed to the increasing adoption of minimally invasive surgeries, the rising obese population, and the increase in road accidents in Saudi Arabia.

For instance, according to the Ministry of Health, Kingdom of Saudi Arabia, Statistics and Indicators, the total road accidents in 2020 reported were 25,561​. During these accidents majorly spine deformities can be observed which can be resolved through spinal fusion surgeries like cervical fusion. Hence, the demand for spinal surgery devices is expected to raise during the study period through this segment.

Many products available in the market provide conventional, yet effective treatments to patients suffering from lumbar spinal stenosis, along with alternative advanced treatments for decompression spine surgery. The major market players manufacture both anterior and posterior dynamic stabilization devices for the lumbar spine. Several clinical trials for new products are in process, which is likely to drive the growth in the coming future. Furthermore, there have been significant advancements in the field of minimally invasive that contributes toward the market expansion.

Hence, the market studied is likely to be impact by the aforementioned factors over the forecast period.

Competitive Landscape

The spinal surgery devices market is moderately competitive and consists of international players that are operating in Saudi Arabia. Additionally, mid-size to smaller businesses are growing their market presence by offering new technologies with greater usability in response to the increasing technology breakthroughs and product innovations. Some of the major players that are operating in the Saudi Arabia spinal surgery devices market are Globus Medical Inc., Johnson & Johnson Services Inc, Medtronic, NuVasive Inc, Orthofix Holdings Inc, Tina Medix Technologies Int. Co., Baxter, Styker, Medos International SARL and ZimVie.

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1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Adoption of Minimally Invasive Spinal Surgeries
4.2.2 Growing Obese Population
4.2.3 Technological Advancements in Spinal Surgery
4.3 Market Restraints
4.3.1 High Treatment Cost
4.3.2 Stringent Regulatory Framework
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Device Type
5.1.1 Spinal Decompression
5.1.1.1 Corpectomy
5.1.1.2 Discectomy
5.1.1.3 Laminotomy
5.1.1.4 Others
5.1.2 Spinal Fusion
5.1.2.1 Cervical Fusion
5.1.2.2 Interbody Fusion
5.1.2.3 ThoracoLumbar Fusion
5.1.2.4 Other Spinal Fusions
5.1.3 Fracture Repair Devices
5.1.4 Others
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Globus Medical Inc.
6.1.2 Johnson & Johnson Services Inc
6.1.3 Medtronic
6.1.4 NuVasive, Inc.
6.1.5 Orthofix Holdings Inc.
6.1.6 Styker
6.1.7 ZimVie
6.1.8 Tina Medix Technologies Int. Co.
6.1.9 Baxter
6.1.10 Medos International SARL
7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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