PUBLISHER: The Business Research Company | PRODUCT CODE: 1546385
PUBLISHER: The Business Research Company | PRODUCT CODE: 1546385
Adult spinal deformity refers to an abnormal curvature of the spine that manifests or persists into adulthood. Examples include scoliosis (a sideways curve), kyphosis (a rounded back), and lordosis (an excessive lower back curve). These conditions can lead to pain and functional limitations, often necessitating treatment such as physical therapy, medication, or surgery.
The primary types of adult spinal deformities are scoliosis, kyphosis, and lordosis. Scoliosis causes the spine to curve sideways, resulting in an "S" or "C" shape and leading to uneven shoulders, hips, and back pain. Treatment approaches aim to correct or manage these spinal curves to enhance functionality and alleviate pain. Product types utilized include cervical fixation devices, interbody fusion devices, thoracolumbar devices, and others. Surgical procedures encompass spinal fusion surgery, osteotomy, spinal deformity correction, spinal arthrodesis, spinal fixation, minimally invasive spinal surgeries, among others. These interventions find application in hospitals, clinics, ambulatory surgical centers, and similar settings.
The adult spinal deformity market research report is one of a series of new reports from the business research company that provides adult spinal deformity market statistics, including adult spinal deformity industry global market size, regional shares, competitors with an adult spinal deformity market share, detailed adult spinal deformity market segments, market trends and opportunities, and any further data you may need to thrive in the adult spinal deformity industry. This adult spinal deformity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The adult spinal deformity market size has grown strongly in recent years. It will grow from $2.28 billion in 2023 to $2.42 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The increase during the historic period can be credited to several factors including a growing elderly population, advancements in surgical techniques, a higher prevalence of degenerative disc disease, increased awareness of spinal health, technological advancements, and improved healthcare infrastructure.
The adult spinal deformity market size is expected to see strong growth in the next few years. It will grow to $3.09 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to rising incidents of spinal deformities, increased demand for specialized devices, expanding regional markets, greater awareness and early detection efforts, and a focus on treating complex deformities and degenerative conditions. Key trends in this period include advancements in technology, minimally invasive procedures, 3D printing and customization, robotic-assisted surgery, digital technologies, and personalized treatments.
The anticipated increase in obesity rates is set to drive growth in the adult spinal deformity market in the future. Obesity rates denote the proportion of a population considered obese based on body mass index (BMI) measurements, typically defined as a BMI of 30 or higher. Factors contributing to rising obesity rates include greater consumption of high-calorie processed foods, sedentary lifestyles, limited access to healthy foods, and environmental influences. The prevalence of obesity necessitates increased use of adult spinal deformity solutions in obese patients to manage heightened mechanical stress on the spine and mitigate associated risks and progression of spinal deformities. For example, a May 2023 report from the UK's Office for Health Improvement & Disparities indicated that in 2021-2022, 25.9% of adults in England aged 18 and over were estimated to be obese, up from 25.2% the previous year. Thus, rising obesity rates are expected to propel growth in the adult spinal deformity market.
Leading companies in the adult spinal deformity market are concentrating on developing personalized solutions, such as implant technologies, to diagnose and evaluate congenital anomalies affecting the upper limb, particularly hand and wrist deformities. Spinal deformity devices incorporate advanced implant technologies such as titanium alloys and polymer composites to enhance structural support and facilitate corrective procedures. For instance, in January 2023, Orthofix Medical Inc., a U.S.-based medical device company, introduced the mariner deformity pedicle screw system following its merger with SeaSpine. This system is tailored for complex adult deformity spine cases, featuring advanced reduction tools, specialized implants, and robust osteotomy instruments. Leveraging Mariner's modular technology, it provides a comprehensive implant solution, streamlining surgical trays and improving hospital workflow efficiency while reducing costs.
In September 2023, Globus Medical Inc., a U.S.-based company specializing in musculoskeletal solutions, completed a merger with NuVasive Inc. for an undisclosed sum. The acquisition is geared towards leveraging the respective strengths of NuVasive and Globus Medical to advance spinal surgery technologies and broaden their market reach. This merger is anticipated to strengthen their capacity to innovate and provide minimally invasive solutions for spine surgeries, aiming to enhance patient outcomes and stimulate growth within the spinal surgery sector. NuVasive Inc., also based in the U.S., specializes in medical devices for treating spinal deformities.
Major companies operating in the adult spinal deformity market are Abbott Laboratories, Medtronic plc, Johnson & Johnson MedTech, Stryker Corporation, Boston Scientific Corporation, B Braun Melsungen AG, Zimmer Biomet Holdings Inc, NuVasive Inc, Globus Medical Inc, Medacta International, Orthofix Medical Inc, Alphatec Holdings Inc, Exactech Inc, RTI Surgical Holdings Inc, SeaSpine Holdings Corporation, Centinel Spine LLC, Spine Wave Inc, Zavation Medical Products LLC., Spinal Elements Holdings Inc., Simplify Medical Inc, Aurora Spine Corporation, Premia Spine Ltd, Innovasis Inc, Osseus Fusion Systems, SpineGuard SA
North America was the largest region in the adult spinal deformity market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period The regions covered in the adult spinal deformity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the adult spinal deformity market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The adult spinal deformity market consists of revenues earned by entities by providing services such as diagnostic imaging, surgical interventions (including spinal fusion and corrective surgeries), non-surgical treatments (such as physical therapy and bracing), and ongoing patient management and follow-up care. The market value includes the value of related goods sold by the service provider or included within the service offering. The adult spinal deformity market also includes sales of spinal implants (including screws, rods, and cages), orthotic braces, surgical instruments, and diagnostic tools (such as X-ray and MRI machines). 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 value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Adult Spinal Deformity Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on adult spinal deformity market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for adult spinal deformity ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The adult spinal deformity market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.