March 29, 2020

Disposable Spinal Instruments Market: North America shall continue to lead the global market

The latest market report published by Credence Research, Inc. “Disposable Spinal Instruments Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” 

The global disposable spinal instruments market was valued at US$ 42.7 Mn in 2017 and expected to reach US$ 86.0 Mn by 2026, expanding at a CAGR of 8.1% from 2018 to 2026. 

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Disposable Spinal Instruments Market

Market Insights :

Globally, the incidence of infections acquired in the healthcare system has increased, both in hospitals and in outpatient surgery centres. Disposable medical instruments help to reduce the burden of health care while also reducing the cost and labor of cleaning and sterilizing reusable devices. One of the prime economic variables affecting the market for spinal surgery has been growing numbers of ambulatory procedures. It is anticipated that a significant shift from inpatient to outpatient surgical procedures for spinal conditions will result in a prominent growth potential for disposable spinal tools.

As the awareness among the surgeons about providing cost effective solutions and cures increase, the number of spinal surgeries shall grow. Furthermore, improving availability of reimbursements for procedures performed in ambulatory surgery centers and orthopedic clinics in resource scarce locations and to reduce the growing burden on hospitals will augment the market growth.

Technological development in spine devices continue to advance. This phenomenon has a prominent impact on patient care; at present all the market incumbents have increased their research activities and are continuously increasing their product portfolio. Medical device companies are positioning themselves in the spinal surgery market through mergers, partnerships and acquisitions. 

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The reimbursements for minimally invasive procedures and outpatient care are consistently increasing. As the overall number of outpatient surgeries is anticipated to increase through the future years, the reimbursements for spinal surgeries being performed in ambulatory surgery centers and orthopedic centers will expand. In terms of competitive landscape, the global disposable spinal instruments market is consolidated in nature. A majority of key market players have a stronghold in North America and Europe with their breakthrough products. Cost competitiveness is a prime area of focus for several developing markets of Asia Pacific and Latin America. The mid-sized players in this market are focused on introducing their products worldwide, thereby to harness the stability in North America and Europe along with untapped opportunities in Asia Pacific.

Key Market Movements:

  • Increasing prevalence of spinal injury patients and correspondingly growing number of outpatient surgeries
  • Technological evolutions and advent of minimally invasive surgeries allowing use of disposable instruments for cost control and infection prevention
  • Improving reimbursements and insurance covers for minimally invasive and technologically advanced surgical modalities

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