Spine Therapy Market To Reach USD 19.60 Billion By 2027 | Reports and Data – GlobeNewswire

September 08, 2020 13:02 ET | Source: Reports and Data

New York, Sept. 08, 2020 (GLOBE NEWSWIRE) -- The globalSpine Therapy Market is forecast to reach USD 19.60 Billion by 2027, according to a new report by Reports and Data. Lower back pain is becoming increasingly common across the globe. It is affecting people of all ages from children to elderly, lower back pain can be acute or chronic. The growing demand for spine surgeries, the latest generation of spine implants, the advent of bioabsorbable spine implants, and the availability of a wide range of recently approved spine implants are some of the trends, which can supposedly contribute to the markets growth. With the 3D printed, and custom fit spine implants taking over the market, growth opportunities for vendors are likely to skyrocket as these increase demand for innovations among consumers. Biodegradable spine implants which are currently available commercially and can disrupt the global spine therapy market effectively.

The invasive surgeries segment, on the other hand, is projected to witness faster growth and is likely to increase its share at a CAGR of 6% during the forecast period. Further, high penetration of invasive surgical techniques in emerging countries such as India, Brazil, China, Mexico, and South Africa is boosting the MI spine surgeries segment.

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The COVID-19 impact:

The outbreak raised concern on the question of hygiene and healthcare. The market has experienced a downturn over the weeks, which may continue over the next few months. This pandemic has affected the Asia Pacific region the most, with China at the center of the outbreak. Most initiatives have come to a temporary halt in multiple countries. The production, as well as supply, has been put on hold, causing losses to the manufacturers, dealers as well as consumers. The market might be facing a downturn for the period. Still, with a rising health concern, the demand would be hitting the roof as soon as the pandemic comes under control.

Further key findings from the report suggest

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/spine-therapy-market

For the purpose of this report, Reports and Data have segmented into the spine therapy market on the basis of product, application, procedure, technology, end user and region:

Product Outlook (Revenue, USD Billion; 2017-2027)

Application Outlook (Revenue, USD Billion; 2017-2027)

Procedure Outlook (Revenue, USD Billion; 2017-2027)

Technology Outlook (Revenue, USD Billion; 2017-2027)

End User Outlook (Revenue, USD Billion; 2017-2027)

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Regional Outlook (Revenue, USD Billion; 2017-2027)

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About Reports and Data

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Spine Therapy Market To Reach USD 19.60 Billion By 2027 | Reports and Data - GlobeNewswire