Canada Spinal Surgery Devices Market - Growth, Trends & Forecasts (2020 - 2025)

November 2020 •
83 pages •
Report ID: 5989439 •
Format: PDF

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The Canada Spinal Surgery Devices market was anticipated to grow with a CAGR of 4.95%, during the forecast period. The major factors attributing to the growth of the Canada spinal surgery market are advancements in technology in spinal surgery equipment, growing aging and obese populace with growing number of spinal deformities, and increasing demand for noninvasive spinal surgery procedures are key elements driving the growth of the market for Canada spinal surgery devices.

According to a research findings, in 2014 there are approximately 43,974 individuals living in Canada with the spinal stenosis condition. Spinal stenosis is the one type of spinal deformities. Spinal stenosis is projected to increase in prevalence and incidence between 2015 and 2030 attributable to the growing population. The prevalence of people with spinal stenosis is intended to be 58,000 by 2030 (increase of 32 per cent). Therefore with the evolving lifestyle in the country such figures are expected to increase further. The degenerative spinal disorders are also expected to increase, along with a likely increase in spinal problems in obese populations owing to increased obesity which will further boost the market growth during the forecast period.

Key Market Trends
Spinal Fusion Segment is Expected to Hold Significant Share in the Canada Spinal Surgery Devices Market

Spinal fusion is estimated to have the largest market share in the device category segment of the market for spinal surgery devices and is expected to experience a healthy CAGR during the forecast period. Several products on the market offer traditional yet better treatments for patients with lumbar spinal stenosis, along with alternative advanced treatments for spinal decompression. The key market competitors manufacture complex stabilizing tools for the lumbar spine for both anterior and posterior. In fact, there are many clinical trials ongoing for further advancement. This component would likely offer multiple benefits in terms of market growth during the forecast period.

Competitive Landscape
The Canada spinal surgery devices market is competitive and consists of several players. In terms of market share, few of the major players are currently dominating the market and some prominent players are vigorously making acquisitions and joint ventures with the other companies to consolidate their market positions in the country. Some of the companies which are currently dominating the market are Zimmer Biomet, Stryker Corporation, Johnson & Johnson, Medtronic plc, and Globus Medical.

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