The market for spine surgery products is expected to hit $20 billion by 2031, according to a Nov. 11 news release from Transparency Market Research.
Five notes:
1. The spine surgery product industry was valued at $13.3 billion in 2022 and is expected to grow at a compound annual growth rate of 4.5% through 2031.
2. North America has a strong foothold in the market and is expected to remain a leader.
3. Growth drivers in the market include advances in surgical technology, especially as artificial intelligence and robotics become more integrated in spine surgery.
4. Demand for spine care is also expected to rise with more people living sedentary lifestyles.
5. Key players in the market include Stryker, Medtronic, DePuy Synthes and Zimmer Biomet.