The spine pain market is anticipated to develop at a compound annual growth rate (CAGR) of 5% from 2023 to 2033, with a predicted valuation of US$ 7.65 billion in 2023. At the conclusion of the assessment period, the market is anticipated to reach US$12.47 billion.
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An increase in the frequency of nerve instances and an aging population are the key factors propelling the spine pain market. Future expansion is also anticipated to be fueled by an inactive lifestyle, rising medical consciousness in industrialized and emerging nations, and rising consumer disposable income.
Key Takeaways:
- The global spine pain market is expected to reach US$12.47 billion by 2033, reflecting a CAGR of 5% from its 2023 valuation of US$7.65 billion.
- Rising prevalence of nerve conditions and an aging global population are key growth drivers.
- Increased awareness of treatment options, rising disposable income, and growing adoption of healthy lifestyles are further propelling market expansion.
- Spine pain is a major health concern, affecting an estimated 81% of the world’s population at some point in their lives.
About 81% of people on the planet have at some point in their lives suffered spine pain, one of the most frequent illnesses; also, spine pain is mostly to blame for the rise in global mobility impairment.
Market Competition:
Key players in the Spine Pain market are Medtronic plc., DePuy Synthes, Inc, Stryker Corporation, NuVasive, Inc, Zimmer Biomet Holdings, Inc., Globus Medical, Inc., Alphatec Spine, Inc, Orthofix International N.V., Difusion Technologies, Inc., ZimVie Inc.
- In July 2020 – Zavation Medical announced the release of the versatile anterior lumbar plate and Lateral Lumbar Plate, which are intended to be used as supplemental fixation devices for the lumbar spine. These plates are new additions to the company’s inventory.
- In August 2020, WishBone Medical Inc. declared the acquisition of all assets from Back 2 Basics Direct (B2B) and Orbbo Surgical, two confidentially medical device manufacturers specialized in spinal fusion research, advancement, and surgical tools.
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Key Companies Profiled:
- Medtronic Plc.
- DePuy Synthes Inc.
- Stryker Corporation
- NuVasive Inc.
- Zimmer Biomet Holdings Inc.
- Globus Medical Inc.
- Alphatec Spine Inc.
- Orthofix International N.V.
- Difusion Technologies, Inc.
- ZimVie Inc.
Key Segments Profiled in the Spine Pain Market Industry Survey:
By Product:
- Fusion Devices
- Non-Fusion Devices
- Stimulation Devices
By Treatment:
- Open Surgery
- Minimally Invasive Surgery
- Others
By Procedure:
- Discectomy
- Laminotomy
- Foraminotomy
- Corpectomy
- Facetectomy
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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