Cervical Spondylosis Diagnosis & Treatment Market Size is valued at USD 6.19 Bn in 2023 and is predicted to reach USD 10.14 Bn by the year 2031 at a 6.3% CAGR during the forecast period for 2024-2031.
Cervical spondylosis is a degenerative disorder that affects the neck region and is treated with therapy. These therapies reduce discomfort, boost mobility, and forestall nerve and spinal cord degeneration. Pain and stiffness can be experienced due to cervical spondylosis, which occurs when the bones and discs in the neck become compressed. More effective therapies are now possible because of better surgical techniques, such as spinal implants. With these implants, the spine can be supported, and nerve pressure can be reduced. The improved accuracy of modern surgical techniques has allowed for safer, shorter patient recovery times. As a result, the market for cervical spondylosis diagnosis and therapy has grown substantially. Patients profit from enhanced surgical alternatives, which lead to less discomfort and greater mobility. Globally, more and more people are becoming aware of cervical spondylosis, which is driving the market expansion. Researchers and innovators work tirelessly to push the field forward, which bodes well for future improvements.
However, market growth is hampered by the lack of safety awareness criteria. Getting diagnosed and treated helps prevent the problem from getting worse over time. If people wait until cervical spondylosis has worsened before seeing a doctor and receiving treatment, the condition will be more difficult to control and may cause further issues.
Competitive Landscape
Some Major Key Players In The Cervical Spondylosis Diagnosis & Treatment Market:
- Novartis AG
- Merck & Co. Inc.
- Bayer AG
- Abbott
- Ortho Bracing
- Medtronic
- Stryker Corporation
- Braun Medical Ltd.
- DJO, LLC
- Aspen Medical Products, LLC
- Bristol-Myers Squibb Company
- Eli Lilly and Company
- AstraZeneca Plc.
- Pfizer
- Teva Pharmaceutical Industries Ltd.
- GlaxoSmithKline plc
- Other Prominent Players
Market Segmentation:
The cervical spondylosis diagnosis & treatment market is segmented based on diagnosis, product type, and distribution channel. Based on diagnosis, the market inlcludes imaging tests, neck X-ray, MRI, CT myelography, nerve function tests, electromyography, and nerve conduction study. As per the product type, the market is segmented into Medications (Non-steroidal Anti-Inflammatory Drugs, Muscle Relaxants, Antidepressants, Pain Relievers), Medical Devices (Cervical Collars, Neck Traction Devices, TENS Units, Cervical Pillows), and Surgical Instruments (Spinal Implants, Other Surgical Instruments). The distribution channel segment is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
According To The Distribution Channel, The Retail Pharmacies Segment Is Accounted As A Major Contributor To The Cervical Spondylosis Diagnosis & Treatment Market.
The retail pharmacies' cervical spondylosis diagnosis and treatment market is expected to lead with a major global market share. Retail pharmacists dispense pharmaceuticals and medical supplies to the general public and other healthcare professionals, as well as a wide variety of personal care items, art supplies, photography equipment, and pet supplies.
Medications Segment To Witness Growth At A Rapid Rate.
The medications industry makes up the bulk of acrylic acid ester usage because the medications help reduce inflammation and improve symptoms of cervical spondylosis. Medications are substances used to diagnose, prevent, treat, or manage numerous medical disorders and diseases, especially in countries like the US, Germany, the UK, China, and India.
In The Region, The North American Cervical Spondylosis Diagnosis & Treatment Market Holds A Significant Revenue Share.
The North American cervical spondylosis diagnosis & treatment market is expected to record a large market share in revenue in the near future. This can be caused due to the high healthcare expenditure and infrastructure development. In addition, Asia Pacific is prdicted to grow rapidly in the global cervical spondylosis diagnosis & treatment market because large populations, growing urbanization, higher levels of education and awareness of respiratory disorders, and better healthcare infrastructure are all driving forces behind this expansion.
Recent Developments:
- In March 2024, A global authority in medical technology, Medtronic, has announced the launch of the UNiD™ ePRO service in the United States. This solution altered the manner in which spine physicians gathered patient outcomes, thereby alleviating the strain on clinic personnel and patients. By integrating with the UNiD™ ASI platform and the customer's existing Electronic Medical Record (EMR) system in the hospital or clinic, the UNiD™ ePRO service delivered an experience that was seamless and unmatched.
- In May 2023, Abbott made an official declaration regarding the approval of its spinal cord stimulation (SCS) devices by the U.S. Food and Drug Administration (FDA). These devices are intended for the treatment of non-surgical back pain, which is defined as chronic back pain that an individual cannot or does not qualify for back surgery. The results of the DISTINCT study, which demonstrated that Abbott's BurstDR™ SCS technology improved pain levels, daily functioning, and emotional health in patients with chronic back pain, provided support for the expansion of labeling.
Cervical Spondylosis Diagnosis & Treatment Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 6.19 Bn |
|
Revenue Forecast In 2031 |
USD 10.14 Bn |
|
Growth Rate CAGR |
CAGR of 6.3% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Diagnosis, Product Type, Distribution Channel |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
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Competitive Landscape |
Novartis AG, Merck & Co. Inc., Bayer AG, Abbott, Ortho Bracing, Medtronic, Stryker Corporation, B. Braun Medical Ltd., DJO, LLC, Aspen Medical Products, LLC., Bristol-Myers Squibb Company, Eli Lilly and Company, AstraZeneca Plc., Pfizer, Teva Pharmaceutical Industries Ltd., and GlaxoSmithKline plc. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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