Increasing prevalence of spinal disorders is one of the major factors driving corpectomy system market revenue growth

VANCOUVER, BC, CANADA, July 25, 2024 /EINPresswire.com/ -- The global corpectomy system market size was USD 1.27 Billion in 2022 and is expected to register a revenue CAGR of 5.3% during the forecast period, according to latest analysis by Emergen Research. Rising prevalence of cardiac disorders and heart failure, rising investments and funding toward production of such devices, and rapid technological advancements are some of the major factors driving revenue growth of the corpectomy system market. Corpectomy systems provide skeletally mature patients with a spine stabilization option by substituting a diseased, collapsed, damaged, or unstable vertebral body brought on by a tumor, osteomyelitis, trauma such as a fracture, or reconstruction following a corpectomy procedure carried out to achieve decompression of spinal cord and neural tissues in degenerative conditions. Expandable corpectomy systems and devices, which are being utilized to treat cervical abnormalities, tumors, and injuries, have recently been shown to be effective in reconstructing cervical spine. Rising prevalence of spinal problems is one of the major factors driving revenue growth of the market. Up to two-thirds of the population is predicted to experience degenerative cervical spine issues over their lifespan. The demand for corpectomy systems is being driven by rising prevalence of chronic illnesses including degenerative spine disease that require spine surgery. Companies have created corpectomy surgical systems for cervical spine that can be implanted using a conventional open procedure or a minimally invasive technique.

The latest market intelligence study, called “Global Corpectomy System Market Forecast to 2028,” jots down some of the most prominent growth potentials of the global Corpectomy System market. The report is primarily targeted at the industry stakeholders looking to capitalize on this report’s contents to make improved business decisions. The report is further intended to help the readers gain vital insights into the global market, particularly the prevailing growth opportunities and competitive scenario. The insightful data & information provided by this report are gathered from various primary and secondary sources.

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Some Key Highlights From the Report

The cervical corpectomy segment accounted for largest revenue share in 2022. Patients with cervical spine nerve compression are advised to have an anterior cervical corpectomy. Neck discomfort, tingling, and weakness in the hands, arms, and shoulders are all brought on by compression of nerves in the cervical spine. The most efficient and direct surgical method for anterior decompression is anterior cervical corpectomy, which is used when spinal cord compression is observed closest to the vertebral body. Cervical corpectomy systems have achieved beneficial clinical outcomes in terms of neurological outcomes, arthrodesis success, and stability. As a result, major companies are developing such cervical corpectomy devices and cages which is driving revenue growth of this segment. For instance, NuVasive, Inc. developed the X-Core Mini Cervical Corpectomy System, which is an extensible titanium vertebral body replacement device meant to give greater stability following a corpectomy treatment, which contributes to revenue growth of this segment.

The hospitals segment is expected to grow at a steady revenue CAGR during the forecast period. Hospitals give patients access to a broad network of committed medical professionals who focus on treatment, prevention, and health education to deliver individualized care. In addition, they have medical professionals who specialize in orthopedic surgery, neurosurgery, physical medicine and rehabilitation, pain medicine, physical therapy, and interventional radiology. These professionals are knowledgeable about all facets of spinal disease, injury, and pain, including conditions such as disk degeneration, herniation and instability, dislocations, and spinal fractures, as well as failed spinal surgeries. Patients are admitted to the hospital for 4 to 7 days after surgery to allow for appropriate recuperation. These are the major factors that are contributing to revenue growth of this segment.

The market in North America accounted for a significantly large revenue share in 2022. This is attributed to growing number of regulatory approvals from federal agencies such as the U.S. Food and Drug Administration (FDA) in the field of corpectomy systems, as well as key strategic initiatives and partnerships between major market companies developing corpectomy systems, especially in the U.S., which has resulted in continued growth of this industry. For instance, on 22 June 2023, CoreLink, LLC, a leading inventor and producer of spinal implant systems, announced the commercial introduction of the F3D Corpectomy VBR System with FDA 510(k) clearance. The device is made up of a single-piece construct that was produced additively in a variety of footprint, height, and lordosis options to match different patient anatomy, which has resulted in continued revenue growth of the market in this region.

The leading contenders in the global Corpectomy System market are listed below:

Medtronic, NuVasive, Inc.., Corelink, LLC., Stryker, K2M Group Holdings, Inc., Normmed., ASTURA MEDICAL, JOHNSON & JOHNSON (DEPUY SYNTHES)., ARTFX Medical., and Globus Medical, Inc

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Corpectomy System Market Segmentation:

Product Type Outlook (Revenue, USD Billion; 2019-2032)

Surgical Instruments

Devices

Application Outlook (Revenue, USD Billion; 2019-2032)

Cervical Corpectomy

Thoracic Corpectomy

Lumbar Corpectomy

End-Use Outlook (Revenue, USD Billion; 2019-2032)

Hospitals

Specialized Clinics

Ambulatory Surgical settings

Regional Outlook of the Corpectomy System Market

The global Corpectomy System market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In this section, authors of the report have studied the presence of the global Corpectomy System market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.

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Key reasons to buy the Global Corpectomy System Market report:

The latest report comprehensively studies the global Corpectomy System market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.

The report offers an insightful analysis of the regional outlook of the market.

It offers a detailed account of the end-use applications of the products & services offered by this industry.

The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.

The report also provides an extensive analysis of the key market elements, such as drivers, constraints, opportunities, limitations, threats, and micro and macro-economic factors. The exhaustive SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis included in the report are intended to help the reader tactfully formulate business growth strategies. Strategic recommendations for the established market players assist them in fortifying their financial positions in the market.

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