Report Overview

Growing demand for minimally invasive surgeries, rising obesity rates, elderly population, and spine-related disorders, as well as expanding research efforts and new product launches could boost the growth of Australia Spinal Surgery Market during the forecast period between 2023 and 2029.

Australia Spinal Surgery Devices Market - Industry Trends & Forecast Report, 2029

Australia spinal surgery devices market size was estimated at USD 359.2 million in 2022. During the forecast period between 2023 and 2029, Australia spinal surgery devices market size is expected to grow at a CAGR of 4.9% reaching a value of USD 499.5 million by 2029. Spinal cord injuries have increased in recent years because of an increase in sedentary lifestyles. This is expected to increase demand for spinal devices during the forecast period. An increase in geriatric populations in Australia is expected to boost sales of this medical equipment. Osteoporosis is a common condition that harms the spinal cord as people age. As a result, sales of spinal devices may increase during the forecast period.

Australia Spinal Surgery Devices Market - Overview

During surgery, surgeons use spinal implants to treat spinal disorders, relieve back pain, and strengthen the spine. These implants' materials are biocompatible and gentle on the body. They are frequently used in the treatment of spinal injuries such as scoliosis, kyphosis, and other degenerative spinal disorders, as well as degenerative disc diseases and degenerative spinal disorders. The primary 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 used in spine surgery. Spinal surgery tools and equipment are used to perform open and minimally invasive surgeries, among others. These are used in hospitals, ambulatory care facilities, and orthopedic centers.

Growth Drivers

Technology Advancements in Spine Surgery

The market is expanding because of numerous technological advancements, including the creation of sophisticated bone grafting products and the use of materials that are more durable than metal.

Restraints

High Treatment Costs and Time Commitments

Increased treatment costs, on the other hand, are expected to stymie growth in the spinal implants and surgical devices market during the forecast period. However, a physician shortage and a lack of 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 COVID-19 pandemic had a significant impact on the spinal implant and surgical devices markets across the globe. Many patients visit healthcare facilities daily because of the COVID-19 pandemic. Hospital beds, healthcare providers, and basic medical equipment were scarce. The medical device industry saw a significant decrease in sales of spinal implant devices. However, the spinal implants and surgical devices market is expected to be significantly impacted in the post-COVID scenario due to the growing demand for minimally invasive spine surgeries.

Australia Spinal Surgery Devices Market

Segmental Coverage

Australia Spinal Surgery Devices Market - By Device Type

Australia spinal surgery devices market is divided into Spinal Decompression (Corpectomy, Discectomy, Facetectomy, Foraminotomy, Laminotomy), Spinal Fusion (Cervical Fusion, Interbody Fusion, ThoracoLumbar Fusion, Other Spinal Fusions), Fracture Repair Devices, Arthroplasty Devices, Non-fusion Devices. Due to the increasing number of spinal fusion surgeries, spinal fusion devices hold the largest market share. Technological advancements in spine fusion procedures with and without internal fixation have resulted in rapid growth. Increased indications for spine fusions have contributed to the high demand. Congenital or degenerative deformity, spondylolisthesis, spinal tumors, and pseudarthrosis are a few examples. The non-fusion procedure, on the other hand, is a viable alternative to spinal fusion, which permanently joins two or more bones in the spine.

Australia Spinal Surgery Devices Market - By Application

On basis of application, Australia spinal surgery devices market is divided into Hospital, Ambulatory Service Centers, and Orthopedic Centers segments. The hospital segment represents a sizeable portion of revenue. Long-term care facilities accessibility and patients' ongoing care are two of the main factors boosting the segment's revenue growth. The need for spinal fusion devices is growing due to the rising incidence of degenerative disc diseases, trauma, and fractures among hospital patients. The quick uptake of cutting-edge surgical technology is fueling the expansion of this market. Spinal fusion devices are helpful in cases of severe scoliosis, which typically develops when two shoulder blades are not on the same plane. Surgical procedures are typically carried out in hospitals by orthopedic surgeons.

Competitive Landscape

Competition in Australia spinal surgery devices market is intense. Major companies in the market 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. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Recent Development

• In October 2021 - Stryker established a research and development laboratory in Queensland, Australia.

Scope of the Report

By Device Type

• Spinal Decompression

1. Corpectomy

2. Discectomy

3. Facetectomy

4. Foraminotomy

5. Laminotomy

• Spinal Fusion

1. Cervical Fusion

2. Interbody Fusion

3. ThoracoLumbar Fusion

4. Other Spinal Fusions

• Fracture Repair Devices

• Arthroplasty Devices

• Non-fusion Devices

By Application

• Hospital

• Ambulatory Service Centers

• Orthopedic Centers