The size of the Europe Spinal Trauma Devices market was around USD 940.73 million in 2023. It is expected to grow at a CAGR of 5.7% to reach USD 1241.19 Million by 2028. It captures 25% of the global market.
The frequency of spinal health concerns rises as the world's population ages, generating increased healthcare spending globally, particularly in emerging nations, propelling the expansion of the European spinal trauma devices market. The employment of creative approaches by key players in the research and development of revolutionary devices and new pharmaceuticals is one of the primary reasons driving the growth of the spinal trauma devices market in the European region. Increased government and private sector initiatives and massive investments in developing advanced and innovative devices for treating spinal trauma and improving surgical procedures are expected to provide lucrative opportunities for this region's spinal trauma devices market over the forecast period.
The European market for spinal trauma devices is quickly growing, and major industry participants are projected to benefit as a result. People's increasing disposable income is another significant factor projected to give profitable growth chances for the European spinal trauma devices market over the forecast period. In addition, different main competitors in the market have been scrambling to manufacture innovative goods as the FDA's approval procedures have grown stricter, which is predicted to provide profitable prospects for stakeholders in the spinal trauma devices market. These factors drive the European Spinal Trauma Devices market during the forecast period.
However, the high cost of hospitalization, limiting older patients' access to modern therapies, continuously changing insurance regulations, and a lack of public understanding about advanced procedures available for treatment are all issues limiting the growth of the European spinal trauma devices market. In developing nations, the lack of advanced healthcare infrastructure impedes the development of the spinal trauma market.
COVID-19 may be a severe concern for people with spinal cord injuries, as they require assistance from caregivers who cannot avoid them. Many elective procedures have been canceled, and the pervasive fear of COVID-19 has impacted countries all around Africa. Maintaining necessary surgical treatment during the crisis may be difficult due to the danger of disruption to surgical services.
This research report on the European spinal trauma devices market has been segmented and sub-segmented into the following categories:
By Device Type
By Country:
The European spinal trauma devices market has grown due to rising demand for minimally invasive surgical techniques, the incidence of obesity, the aging population, the accompanying spine problems, and technical improvements. The European market will be the second most important for spinal trauma devices during the forecast period. Over time, the area is projected to grow considerably. Technological discoveries in the production of new technologies by market participants, prospective government regulation, and substantial advancements in spinal illnesses are all driving market expansion.
The European Spinal Trauma Devices Market is expected to remain led by the United Kingdom throughout the forecast period. A rise in the frequency of motor vehicles accidents, falls, and sports injuries have contributed to spinal cord injury, necessitating surgical equipment during operations. As a result, the UK's position in the region is expected to strengthen. Every year, almost 1,000 persons in the United Kingdom suffer from a recent spinal cord injury.
The European Spinal Trauma Devices market is likely to dominate Germany after the United Kingdom. In addition to clinical trials on novel technologies, front, and rear dynamic stabilization devices are manufactured by leading companies. As a result, the future market expansion is likely to be driven by these factors.
KEY MARKET PLAYERS:
Stryker Corp., CONMED Corp., Medtronic, Smith & Nephew plc. Other players in the market include NuVasive Inc., DePuy Synthes, Spinal Technology Inc., Arthrex Inc., ReWalk Robotics, Orthofix International NV are some of the noteworthy companies operating in the European spinal trauma devices market.
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