Australia Spinal Surgery Devices Market Size Expands to Touch USD 500 Million by 2029

Published | 01 January 2023

Australia spinal surgery market is flourishing owing to increasing incidences of spinal cord injuries (SCIs), rising awareness of spinal implants, and focus on managing the risk of spinal deformities and disorders.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Australia spinal surgery devices market size at USD 359.2 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Australia spinal surgery devices market size to grow at a steady CAGR of 4.9% reaching a value of USD 499.5 million by 2029. Due to an increase in sedentary lifestyle, spinal cord injuries have increased in the recent years. During the forecast period, it is expected to increase demand for spinal devices. A rise in geriatric population across the country is expected to boost sales of spinal surgery equipment. Osteoporosis is a common condition that affects the spinal cord as people age. It, in turn, is expected to drive the sales of spinal devices during the period in analysis.

Australia Spinal Surgery Devices Market – Overview

To treat disorders of the spine, relieve back pain, and strengthen the spine, surgeons use spinal implants during surgery. The materials used to make these implants are biocompatible and kind to the body. They are frequently used to treat spinal injuries, such as scoliosis, kyphosis, and other degenerative spinal and disc disorders. Spine biologics, surgical spinal decompression, vertebral compression fracture treatment products, non-fusion, and fusion are the primary product types in spinal surgery devices and equipment. Materials used in spine surgery are called spine biologics. Open and minimally invasive surgeries, among others, are carried out using spinal surgery tools and equipment. Hospitals, ambulatory service facilities, and orthopedic centers all make use of these.

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Opportunity: Increasing incidences of spinal disorders

As the population is rising, degenerative spinal diseases are becoming more common. More than million people who suffer from degenerative spine disease across the country, according to the research, are expected to drive the growth of the market for spine implants and surgery equipment. The growing number of hospitals and surgical centers is also expected to provide potential opportunities for the spinal implants and surgical devices market to grow in the coming years.

Challenge: Costly and time-consuming treatments

The increasing cost of treatment procedures, on the other hand, is expected to stymie the growth of the spinal implants and surgical devices market during the forecast period. However, a lack of physicians and limited awareness/education may pose additional challenges to the growth of the spinal implants and surgical devices market shortly.

Impact of COVID-19 on Australia Spinal Surgery Devices Market

The market for spinal implants and surgical devices was significantly impacted by the COVID-19 pandemic. A sizable number of patients visit medical facilities daily because of the COVID-19 pandemic. There was a shortage of hospital beds, medical personnel, and basic medical equipment. Sales of spinal implant devices fell significantly in the medical devices sector. The growing demand for minimally invasive spine surgeries, however, is anticipated to have a significant negative impact on the market for spinal implants and surgical devices in the post-COVID scenario.

Australia Spinal Surgery Devices Market – By Application

Australia spinal surgery devices market by application is segmented into Hospital, Ambulatory Service Centers, and Orthopedic Centers. The hospital segment accounts for a sizable portion of market share. Access to long-term care facilities and patients' ongoing care are two major factors driving the segment's revenue growth. The demand for spinal fusion devices is increasing as the incidence of degenerative disc disease, trauma, and fractures among hospital patients rise. The rapid adoption of cutting-edge surgical technology is fueling the market's expansion. Spinal fusion devices can help with severe scoliosis, which occurs when two shoulder blades are not on the same plane. As a result, orthopedic surgeons typically perform surgical procedures in hospitals.

Competitive Landscape

Australia spinal surgery devices market is competitive. Prominent players include DePuy Synthes Spine Inc. (Johnson & Johnson), Orthofix Holdings Inc., Medtronic PLC, NuVasive Inc., KARL STORZ, Evolution Surgical, Stryker Corporation, Zimmer Holdings Inc., Kunovus Disc Device, and Prism Surgical. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Australia spinal surgery devices market.

Don’t miss the business opportunity in the Australia Spinal Surgery Devices Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Australia Spinal Surgery Devices Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Australia Spinal Surgery Devices Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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