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Disposable Spinal Instrument Market Size
Disposable Spinal Instrument Market size was valued at around USD 70.6 million in 2023 and is estimated to grow at 7.9% CAGR from 2024 to 2032. Disposable spinal instruments are medical devices utilized in interventional spine procedures, designed for single-use and disposal after each operation. These instruments play crucial roles in a range of tasks during interventional spine interventions, encompassing procedures such as discectomy, laminectomy, spinal fusion, and other treatments targeting spinal conditions or injuries. The growing prevalence of spinal disorders is a significant driver for market.
For instance, according to global estimates provided by the World Health Organization (WHO), it is reported that around 15.4 million individuals were living with spinal cord injuries (SCI) in the year 2021. Thus, this underscores the pressing need for effective and efficient solutions in spinal surgery, including the utilization of disposable spinal instruments to address the growing prevalence of spinal disorders and injuries worldwide.
Furthermore, advancements in minimally invasive surgery, technological advancement, and growing aging population are contributing factors stimulating the growth of the market.
Mention the key players involved in disposable spinal instrument industry?
AxioMed LLC, Halma plc, Intelligent Implants, Joimax GmbH, LongueVue Capital, Narang Medical Limited, Providence, RTI Surgical, Safe Orthopaedics, Spinex.co., Surgalign Holdings, Inc., Surgical Science, and Teleflex Medical.
What is the size of disposable spinal instrument industry?
The disposable spinal instrument market size was valued at USD 70.6 million in 2023 and is estimated to grow at 7.9% CAGR from 2024 to 2032, owing to the increasing prevalence of spinal disorders.
Why is the demand for disposable spinal cervical kits growing?
The cervical kits segment in the market will generate USD 45.1 million by 2032, as they provide a standardized set of instruments and implants necessary for cervical spine procedures.
Why is the U.S disposable spinal instrument industry growing?
The U.S. disposable spinal instrument market generated USD 25.8 million in 2023, as U.S. serves as a global hub for medical innovation, with numerous companies and research institutions.