As per UN estimates, the worldwide geriatric population will double by 2050 to reach an estimated value of more than 2.1 billion boosting the market growth in the future. Elderly people are a major driving factor for the spinal surgery devices and equipment market as they are more prone to spinal complications.Spinal disorders majorly affect the geriatric population and result in spinal deformities and pain. These are used by hospitals, ambulatory service centres, and orthopedic centres. The spinal surgery devices and equipment are used to perform various surgeries such as open surgeries and minimally invasive surgeries. The main product types in spinal surgery devices and equipment are spine biologics, surgical spinal decompression, vertebral compression fracture treatment products, non-fusion, and fusion.Spine biologics are materials that are used in spine surgery. The regions covered in the spinal surgery devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. North America was the largest region in spinal surgery devices and equipment market in 2022.Western Europe was the second-largest region in spinal surgery devices and equipment market. The spinal surgery devices are used to prevent the motion of spine when fusion occurs between the two or more vertebrae. The value of goods in this market includes related services sold by the creators of the goods. The spinal surgery devices and equipment market consist of sales of instruments such as pedicle screws, rods, connectors, plates, and interbody cages that are used for Spinal surgeries.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The spinal surgery devices and equipment market is expected to grow from $15.83 billion in 2027 at a CAGR of 4.5%.
The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The global spinal surgery devices and equipment market will grow from $12.56 billion in 2022 to $13.3 billion in 2023 at a compound annual growth rate (CAGR) of 5.8%. V, K2M Group Holdings Inc., and Titan Spine. Spinal Surgery Devices And Equipment Global Market Report 2023
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