Spine Pain Management Market to Generate nearly US$ 12.5 Billion in Revenue by 2033; growing at a 5% CAGR | FMI Report

According to Future Market Insights’ recent report, the spine pain market is forecast to register a CAGR of 5% from 2023 to 2033, reaching a valuation of US$ 12.47 Billion. Anti-inflammatory medications’ minor side effects are encouraging an increase in their usage as pain relievers. The effectiveness of pharmaceuticals like diclofenac, ibuprofen, and naproxen as nonsteroidal anti-inflammatory treatments is aiding the sector’s growth.

The vast majority of individuals in the region who suffer from chronic spine pain contribute to the market’s expansion. Because of rising healthcare costs for the general public and the availability of cutting-edge healthcare systems, the industry for spine pain treatment in North America is gaining momentum. People are becoming more conscious of spine pain, which is expected to increase demand for this treatment in the region.

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The APAC market, on the other hand, is expected to grow at the fastest rate in the coming years, owing to the region’s improving healthcare system, rising per-capita income levels, aging population, and burgeoning prevalence of chronic pain. According to a United Nations (UN) Department of Economic and Social Affairs report on global population aging, Asia’s elderly population will more than double, from 395 million in 2019 to 587 Million by 2030.

Key Takeaways from the Market Study

  • Nearly 65 million Americans have recently suffered spine pain.
  • Some 16 million adults, or 8% of all adults, suffer from persistent or chronic spine pain, limiting their ability to perform daily tasks.
  • The number of elderly population people in Asia is forecast to double, from 395 million in 2019 to 587 million by 2030.
  • The global Spine Pain market is expected to garner a market value of US$ 47 Billion.
  • The global Spine Pain market is estimated at a market value of US$ 65 Billion.

“As lifestyle changes become apparent, incidences of spinal anomalies and related disorders is becoming more prevalent. Consequently, healthcare practitioners are introducing new approaches to treat spinal problems, providing scope for expansion,” says an FMI analyst.

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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.

More Valuable Insights 

Future Market Insights, in its new offering, presents an unbiased analysis of the global Embolization Coils market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis Product (Fusion Devices, Non-Fusion Devices, Stimulation Devices), By Treatment (Open Surgery, Minimally Invasive Surgery, Others), By Procedure (Discectomy, Laminotomy, Foraminotomy, Corpectomy, Facetectom) & Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

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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

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 9-years.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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