Spinal osteosynthesis units are medical devices used in spinal fusion surgeries to stabilize and immobilize the vertebral segments that have been operated on. These units provide structural support and alignment to the spinal column allowing bony fusion and healing. Various types of spinal osteosynthesis units available in the market include hook, screw, rod, plates, cages among others. Spinal fusion surgery using osteosynthesis units has emerged as a safe and effective treatment for spine disorders and injuries. The growing prevalence of degenerative spinal conditions like spondylolisthesis and spinal stenosis coupled with rising number of accident and trauma cases has been driving the demand for spinal osteosynthesis procedures globally. Moreover, development of improved mini-invasive techniques and launch of technologically advanced spinal implants have boosted the spinal osteosynthesis units market.
The Spinal Osteosynthesis Units Market is estimated to be valued at USD 10.25 billion in 2024 and is expected to reach USD 19.50 billion by 2031, growing at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.
Key Takeaways
Key players operating in the spinal osteosynthesis units market are Medtronic, Johnson & Johnson (DePuy Synthes), NuVasive, Stryker, Globus Medical, Zimmer Biomet, Orthofix, Alphatec Spine, RTI Surgical and MicroPort.
Rising trend of ambulatory spinal surgeries and availability of customized implants specially designed for complex spinal deformities are fueling market growth.
Advancements like 3D printed implants, navigation assisted surgery and robotic assisted procedures have improved surgical accuracy and shortened recovery times driving demand for Spinal Osteosynthesis Units Market.
Market Drivers
Growing geriatric population prone to age-related osteoporosis and spinal disorders is a major factor driving the volume demand for spinal osteosynthesis procedures.
Increasing investments by leading medical device players in developing less invasive spine surgery techniques and bioabsorbable implants is supporting market expansion.
Favorable reimbursement policies and government support for spine disorders treatment in developed nations is supporting market growth.
Current Challenges in Spinal Osteosynthesis Units Market
The spinal osteosynthesis units market is facing challenges due to the Covid-19 pandemic. Factors like lockdowns and movement restrictions impacted the number of surgeries being performed. There was also shortage of medical resources and staff as they were diverted to handle Covid cases. This led to postponement of elective surgeries like those using spinal osteosynthesis units. Additionally, economic slowdown affected the discretionary healthcare spending of people. Affordability becomes a concern in such scenarios. Innovation in the market has also slowed down due to travel restrictions and lab closures affecting the product development cycle.
SWOT Analysis
Strength: Spinal conditions like spondylolisthesis require fixation and stabilization which spinal osteosynthesis units provide effectively. They help in improved bone growth and fusion.
Weakness: Surgical procedures using such units have risks of paralysis, neurological injury and implant failure or breakage. They are also expensive affecting affordability.
Opportunity: Rising geriatric population prone to spinal issues present growth opportunities. Advancements in biomaterials and 3D printing can help develop better customized implants.
Threats: Presence of alternative treatment methods like pain management drugs and physical therapy poses competition. Regulations becoming stringent for new product approvals.
North America has been the largest regional market for spinal osteosynthesis units, driven by factors like high healthcare spending, sophisticated healthcare infrastructure and rising occurrence of spinal disorders. However, Asia Pacific region is emerging as the fastest growing regional market due to growing medical tourism, increasing disposable incomes and expanding base of target patient population. Countries like China, India and Japan are major contributors to the growth in Asia Pacific.
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Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
