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Australia Spinal Surgery Devices Market Size (2024 - 2029)

The Australia Spinal Surgery Devices Market is projected to experience growth over the forecast period, driven by increasing demand for minimally invasive procedures, a rising incidence of obesity, and an aging population prone to spine disorders. The market's expansion is further supported by advancements in surgical technologies and a growing need for surgical interventions. However, challenges such as high treatment costs, lengthy procedures, and reimbursement issues may hinder the market's growth trajectory. The impact of the COVID-19 pandemic has also contributed to a temporary reduction in demand, affecting overall market dynamics.

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Market Size of Australia Spinal Surgery Devices Industry

Australia Spinal Surgery Devices Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 384.82 Million
Market Size (2029) USD 461.26 Million
CAGR (2024 - 2029) 3.69 %

Major Players

Australia Spinal Surgery Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

Australia Spinal Surgery Devices Market Analysis

The Australia Spinal Surgery Devices Market size is estimated at USD 384.82 million in 2024, and is expected to reach USD 461.26 million by 2029, growing at a CAGR of 3.69% during the forecast period (2024-2029).

The COVID-19 pandemic has significantly impacted the Australia Spinal Surgery Devices Market. For instance, as per a March 2020 update by the Spine Society of Australia, the Spine Society of Australia supported the Australian Government's decision to temporarily suspend elective surgery, except for urgent Category 2 procedures such as unstable cervical, thoracic, and lumbar fractures, and Category 1 surgery will continue, including surgical treatment of postoperative complications, other than planned revision surgeries. As a result, this reduced the total number of surgeries performed across Australia. Thus, the pandemic has resulted in lower demand for spinal surgery devices, thereby impacting the market growth.

Further, the growth of the market studied can be largely attributed to factors such as the increasing demand for minimally invasive surgical procedures, leading to an expansion of the endoscopic spinal surgery market, the increasing incidence of obesity, the aging population, and associated spine disorders. Continuous advancements in spinal surgery equipment, spine biologics, and spinal surgical instruments are also expected to provide a boost to the market over the forecast period. Additionally, increasing demand for spinal fusion devices and spine stabilization devices is driving the market's growth further. For instance, as per SpinalCure Australia 2020, each day, on average a person suffers from an injury requiring treatments such as spine implants, adding to the more than 20,000 people across Australia and millions around the world who live with the debilitating effects of a spinal cord injury. In addition, as per a November 2021 update by the Australian Institute of Health and Welfare, in June 2020, approximately 4.2 million people (16% of Australia's total population) were aged 65 and over. As the older population is more susceptible to spinal injuries and conditions, the demand for products in the cervical fusion market and for vertebral implants is set to increase over the coming years, thereby driving the market growth.

However, the high cost and time involved in treatment procedures and reimbursement issues are some of the major factors restraining the Australia Spinal Surgery Devices Market's growth.

Australia Spinal Surgery Devices Industry Segmentation

As per the scope of the report, spinal devices are used to provide stability to the spinal structure, which has lost stability due to a fracture, degenerative disorders of the spine, trauma, tumors, and deformity. The Australian spinal surgery devices market is segmented by type (spinal decompression, spinal fusion, fracture repair, arthroplasty, and non-fusion procedures). The report offers the value (in USD million) for the above segments.

By Type
Spinal Decompression
Corpectomy
Discectomy
Foraminotomy
Laminotomy
Other Types
Spinal Fusion
Cervical Fusion
Lumbar Fusion
Other Spinal Fusion Types
Fracture Repair
Arthroplasty
Non-fusion Procedures
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Australia Spinal Surgery Devices Market Size Summary

The Australian spinal surgery devices market is poised for growth, driven by an increasing demand for minimally invasive procedures and advancements in surgical technologies. The market is influenced by demographic factors such as an aging population and the rising incidence of obesity-related spine disorders. The COVID-19 pandemic initially disrupted the market by reducing the number of elective surgeries, but the demand for spinal surgery products is expected to rise as the population ages and the prevalence of spinal conditions increases. The market is characterized by a competitive landscape with several major players focusing on strategic mergers and acquisitions to enhance their product offerings and market presence.

Despite the promising growth prospects, the market faces challenges such as high treatment costs, time-consuming procedures, and reimbursement issues. The spinal fusion segment is particularly driven by the growing geriatric population and the expansion of indications for spinal fusion surgeries. This segment aims to address disc degenerative diseases and spine injuries across various spinal regions. Key players in the market, including Depuy Synthes Spine Inc., Medtronic PLC, and NuVasive Inc., are actively expanding their portfolios and strengthening their market positions through strategic initiatives. The market's growth potential is further supported by ongoing partnerships and the introduction of innovative devices, contributing to the overall development of the spinal surgery devices market in Australia.

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Australia Spinal Surgery Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Demand for Minimally Invasive Surgical Procedures

      2. 1.2.2 Increasing Incidence of Obesity, Aging Population, and Associated Spine Disorders

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost and Time Involved in Treatment Procedures

      2. 1.3.2 Reimbursement Issues

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Type

      1. 2.1.1 Spinal Decompression

        1. 2.1.1.1 Corpectomy

        2. 2.1.1.2 Discectomy

        3. 2.1.1.3 Foraminotomy

        4. 2.1.1.4 Laminotomy

        5. 2.1.1.5 Other Types

      2. 2.1.2 Spinal Fusion

        1. 2.1.2.1 Cervical Fusion

        2. 2.1.2.2 Lumbar Fusion

        3. 2.1.2.3 Other Spinal Fusion Types

      3. 2.1.3 Fracture Repair

      4. 2.1.4 Arthroplasty

      5. 2.1.5 Non-fusion Procedures

Australia Spinal Surgery Devices Market Size FAQs

The Australia Spinal Surgery Devices Market size is expected to reach USD 384.82 million in 2024 and grow at a CAGR of 3.69% to reach USD 461.26 million by 2029.

In 2024, the Australia Spinal Surgery Devices Market size is expected to reach USD 384.82 million.

Australia Spinal Surgery Devices Market Report Snapshots

Australia Spinal Surgery Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)