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North America Spinal Trauma Devices Market Research Report – Segmented By Device Type and Country (the United States, Canada and Rest of North America) – Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2023 to 2028)

Published: March, 2023
ID: 4996
Pages: 145
Formats: report pdf report excel report power bi report ppt

North America Spinal Trauma Devices Market Size (2023 to 2028)

The size of the North America Spinal Trauma Devices market was around USD 1.32 billion in 2023. It is expected to grow at a CAGR of 5.51% to reach USD 1.72 billion by 2028. It captures 35% of the global market share.

In North America, the market for spinal trauma devices is predicted to grow due to the rising prevalence of spinal illnesses and injuries. In addition, the market for spinal trauma devices will continue to be fueled by a growing preference for minimally invasive spinal treatments and the development of 3D printed implants. Therefore, the market for spinal trauma devices in North America is further expected to develop significantly, giving opportunities for market participants. Furthermore, during the forecast period, the government and private sector endeavors to create sophisticated and new devices for treating spinal trauma, and improving surgical processes are expected to give attractive prospects for the market to grow.

Increased rates of traumatic spinal injuries, growing public awareness, and new technologies are expected to propel the North American market for spinal trauma devices. Other factors driving the market for spinal trauma products include the aging population and the associated increase in diseases and injuries that result in chronic, intractable pain, technical innovation, and increased knowledge and use of modern technologies. In addition, a rise in the number of road accidents, industrial accidents, slips, and falls resulting in severe spine fractures and newly emerging minimally invasive robotic procedures are further estimated to favor the North American market for spinal trauma devices.

However, over the forecast period, the lack of advanced healthcare infrastructure in some of the areas of the North American region. In addition, the high expense of hospitalization, restrictions on elderly patients accessing advanced treatments, and a lack of public understanding about new treatment procedures are expected to hamper the market expansion. Furthermore, changes in insurance policies that result in less treatment and higher expenses are projected to stifle the market for spinal trauma devices.

This research report on the North American spinal trauma devices market has been segmented and sub-segmented into the following categories.

By Device Type

  • Internal Fixation Devices   
    • Plate and Screw
    • Rods and Pins
    • Bone Grafts
  • External Fixation Devices

By Country:

  • The United States
  • Canada
  • Rest of North America

North America was the leader among the regional markets in 2022 and emerged as the largest market for spinal trauma devices. A growing number of spinal cord injuries, well-established healthcare facilities, and an aging population drive the market's growth in this region. Furthermore, technical developments and increased investments in R&D efforts to produce innovative products are expected to contribute to market growth over the forecast period.

The two fastest expanding markets in this region are emerging economies such as the United States and Canada. The presence of a significant number of older individuals in these countries is projected to help the market grow in this area. The United States is the world's most populous country, with 25% of the worldwide population and the highest number of spinal cord injury victims. The presence of significant stakeholders in the research and development of breakthrough technologies and novel drugs using creative methodologies is one of the key factors driving market revenue growth. In addition, as the population of North America ages, there will be an increase in the prevalence of spinal health issues, which drive up healthcare costs in the region.

KEY MARKET PLAYERS:

Companies playing a vital role in the North American spinal trauma devices market profiled in this report are 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, and others.

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