Disposable Spinal Instruments Market Expected to Reach Total Value of US$ 96.5 Million by 2028 End
Healthcare-Associated Infections or Hospital-Acquired Infections (HAIs) are caused while receiving medical treatment in a hospital facility. HAIs are among the major challenges to the safety of patients, and can have severe public health implications. These infections are also capable of causing disability and sometimes death.
The occurrence of HAIs is increasing at an alarming rate. According to WHO, the prevalence of these infections in developed countries varies from 3.5% to 12%. Developing countries are at a higher risk as the rate of infection is 3-20 times higher in developing countries as compared to high-income countries.
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Thus, the increasing preference for the usage of disposable instruments for reducing the occurrence of HAIs is driving the demand for disposable instruments, which is creating growth opportunities for the disposable spinal instruments market.
According to latest research by FMI, the global disposable spinal instruments market is is estimated to be worth around US$ 59.7 Mn in 2022. Owing to the rise in hospital acquired infection cases, the overall demand for disposable spinal instruments is poised to increase at a robust CAGR of 8.3% between 2022 and 2028, totaling a valuation of US$ 96.5 Mn by 2028
The demand for disposable instruments kits in the healthcare industry is growing at a significant rate, and the demand from unconventional end-use industries is one of the major factors fuelling the market for disposable spinal instruments.
Growth in the number of end users, apart from hospitals, such as orthopaedic clinics and Ambulatory Surgical Centres (ASCs), is expected to create high demand for disposable spinal instruments.
Moreover, the adoption of disposable instrument kits by various end users has reduced the risk of infections and cross-contamination, which has resulted in a reduction in the number of HAIs.
Moreover, increasing geriatric population, which is prone to various types of spinal injuries, is estimated to boost the need for surgeries. This is expected to contribute to the demand for disposable spinal instruments.
The increasing requirement of instrument kits during surgeries among the greying population, coupled with improved life expectancy, has created significant growth opportunities for the manufactures of disposable spinal instruments market.
However, factors such as stringent regulations and the generation of a significant amount of waste due to the usage of disposable kits is expected to lower the growth of disposable spinal instruments in the forecast period.
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The disposable spinal instruments kits segment is a leading segment in terms of revenue by product type in the disposable spinal instruments market, with a 64.5% revenue share in 2021. These kits are most widely used in cervical and lumbar surgeries such as spinal fusion and decompression surgeries. Among the procedure type segments, the spinal fusion sub-segment accounts for the largest revenue share in the disposable spinal instruments market.
Among all the end users in the disposable spinal instruments market, the hospitals sub-segment is expected to be a prominent segment, followed by the orthopaedic clinics sub-segment.
The disposable spinal instruments market has been analysed across the regions of North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA. North America, followed by Europe, is a prominent region in the global disposable spinal instruments market. North America accounted for a revenue share of 45.8% in 2021 in disposable spinal instruments market.
Europe, accounting for the second-largest revenue share, is followed by East Asia in the disposable spinal instruments market. India, China, and Brazil are emerging markets in the disposable spinal instruments market. China is one of the fastest-growing emerging markets in the global disposable spinal instruments market, and is projected to grow at a CAGR of 11.2% over the forecast period of 2022-2029.
The disposable spinal instruments market report tracks some of the key companies operating in the disposable spinal instruments market, such as ECA Medical, Providence Medical Technology, Inc., Xenco Medical, Paradigm Spine, Intelligent Implant Systems, LLC, Safe Orthopaedics, SA , TeDan Surgical Innovations, LLC, and Joimax GmbH. Majority of the regional players in the disposable spinal instruments market are focused on increasing their product reach and connectivity with the regional distributors of disposable spinal instruments.
The manufacturers of disposable spinal instruments are focusing on collaborating with established hospitals and ASCs to sell products as some of the medical practitioners are particular about the type and brand of products used for a surgical procedure.
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Disposable Spinal Instruments Market by Category
By Product Type :
- Instrument Kits
- Spinal Fusion
- Decompression Surgeries
- Orthopaedic Clinics
- Ambulatory Surgical Centers
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
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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 10-years
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