Australia Spinal Surgery Devices Market Size
| 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
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 Australian spinal surgery 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 products, 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, the increasing incidence of obesity, the aging population, and associated spine disorders. The continuous advancements in spine surgery technologies are also expected to provide a boost to the market over the forecast period. Additionally, increasing demand for surgical procedures is driving the market's growth further. For instance, as per SpinalCure Australia 2020, each day, on average a person suffers from an injury, 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 surgery products is all 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 Australian spinal surgery market's growth.
Australia Spinal Surgery Devices Market Trends
This section covers the major market trends shaping the Australia Spinal Surgery Devices Market according to our research experts:
Spinal Fusion is Expected to Hold a Significant Market Share
The growth of the spinal fusion segment is majorly driven by the increase in the geriatric population and the rise in the incidence of spinal disorders. For instance, according to the Australian Bureau of Statistics (ABS), the number of Australians aged 85 and over is expected to double by 2042, reaching almost 1 million people, according to the most recent population forecasts published in 2018. The population of Australia is expected to continue to age as a result of low fertility paired with rising life expectancy, with the number of people aged 65 and above expected to nearly double from 3.8 million in 2017 to between 6.4 million and 6.7 million in 2042. As this population is more prone to back pain and spinal conditions, the demand for spinal fusion procedures is likely to increase over the coming years, thereby, boosting the segment growth. In addition, the expansion in indications for which spinal fusion surgery is performed boosts the market growth. These devices are intended to treat disc degenerative diseases, spine injuries, and other disorders pertaining to the cervical, thoracic, and lumbar areas of the spine. Thus, the growing prevalence of these disorders is attributable to the large share of the segment.
Australia Spinal Surgery Devices Industry Overview
The Australian spinal surgery devices market is fragmented and competitive and consists of several major players. The key players in the market are found focusing on strategic mergers and acquisitions to expand their product portfolios and strengthen their positions in the market. There are also devices that these companies continue to release, contributing to the market's potential growth. In terms of market share, a few of the major players are currently dominating the market. Some of the companies currently dominating the market are Depuy Synthes Spine Inc. (Johnson & Johnson), Orthofix Holdings Inc., Medtronic PLC, NuVasive Inc., KARL STORZ, Evolution Surgical, Stryker Corporation, and Zimmer Holdings Inc.
Australia Spinal Surgery Devices Market Leaders
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Depuy Synthes Spine Inc. (Johnson & Johnson)
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Medtronic PLC
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NuVasive Inc
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Zimmer Holdings Inc
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Orthofix Holdings Inc
*Disclaimer: Major Players sorted in no particular order
Australia Spinal Surgery Devices Market News
In October 2021, Stryker established a research and development laboratory in Queensland, Australia.
In July 2020, Joimax, the German-based market leader in technologies and training methods for full-endoscopic and minimally invasive spinal surgery, entered a new partnership with the Australian medical device distributor, LifeHealthcare.
Australia Spinal Surgery Devices Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Demand for Minimally Invasive Surgical Procedures
- 4.2.2 Increasing Incidence of Obesity, Aging Population, and Associated Spine Disorders
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4.3 Market Restraints
- 4.3.1 High Cost and Time Involved in Treatment Procedures
- 4.3.2 Reimbursement Issues
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Type
- 5.1.1 Spinal Decompression
- 5.1.1.1 Corpectomy
- 5.1.1.2 Discectomy
- 5.1.1.3 Foraminotomy
- 5.1.1.4 Laminotomy
- 5.1.1.5 Other Types
- 5.1.2 Spinal Fusion
- 5.1.2.1 Cervical Fusion
- 5.1.2.2 Lumbar Fusion
- 5.1.2.3 Other Spinal Fusion Types
- 5.1.3 Fracture Repair
- 5.1.4 Arthroplasty
- 5.1.5 Non-fusion Procedures
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Depuy Synthes Spine Inc. (Johnson & Johnson)
- 6.1.2 Orthofix Holdings Inc.
- 6.1.3 Medtronic PLC
- 6.1.4 NuVasive Inc.
- 6.1.5 KARL STORZ
- 6.1.6 Evolution Surgical
- 6.1.7 Stryker Corporation
- 6.1.8 Zimmer Holdings Inc.
- 6.1.9 Kunovus Disc Device
- 6.1.10 Prism Surgical
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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 | ||
| By Type | Spinal Fusion | Cervical Fusion |
| Lumbar Fusion | ||
| Other Spinal Fusion Types | ||
| By Type | Fracture Repair | |
| Arthroplasty | ||
| Non-fusion Procedures |
Australia Spinal Surgery Devices Market Research FAQs
How big is the Australia Spinal Surgery Devices Market?
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.
What is the current Australia Spinal Surgery Devices Market size?
In 2024, the Australia Spinal Surgery Devices Market size is expected to reach USD 384.82 million.
Who are the key players in Australia Spinal Surgery Devices Market?
Depuy Synthes Spine Inc. (Johnson & Johnson), Medtronic PLC, NuVasive Inc, Zimmer Holdings Inc and Orthofix Holdings Inc are the major companies operating in the Australia Spinal Surgery Devices Market.
What years does this Australia Spinal Surgery Devices Market cover, and what was the market size in 2023?
In 2023, the Australia Spinal Surgery Devices Market size was estimated at USD 371.13 million. The report covers the Australia Spinal Surgery Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Australia Spinal Surgery Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Australia Spinal Surgery Devices Industry Report
Statistics for the 2024 Australia Spinal Surgery Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Australia Spinal Surgery Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
