Corpectomy System Market Size is valued at USD 1.26 Bn in 2023 and is predicted to reach USD 1.90 Bn by the year 2031 at a 5.38% CAGR during the forecast period for 2024-2031.
Technological Advancements in the medical sector have led to the development of more sophisticated corpectomy systems. These systems often incorporate minimally invasive surgical techniques, leading to shorter hospital stays, quicker recovery times, and reduced postoperative pain for patients. Established medical device companies, including Medtronic, Stryker, and NuVasive, are major players in the corpectomy system market. These companies offer a range of corpectomy devices and compete for market share through innovation and product differentiation.
The corpectomy system market is subject to regulatory oversight by government health agencies in different countries. Additionally, companies operating in this space must adhere to strict quality and safety standards to gain regulatory approvals for their products. Despite the growth opportunities, the corpectomy system market faces challenges such as the high cost of these surgical procedures, reimbursement issues, and competition from alternative treatment methods, including non-surgical interventions.
Competitive Landscape
Some Major Key Players In The Corpectomy System Market:
- Medtronic
- Johnson & Johnson
- Stryker
- Suasive
- Zimmer Biomet
- Globus Medical, Inc.
- Jayon Implants
- Corelink, LLC.
- K2M Group Holdings, Inc.
- Normmed
- Camber Spine
- Nexxt Spine LLC
- NuVasive, Inc.'s
- Astura Medical, LLC
- Aliphatic Spine, Inc.
- Orthotic Holdings, Inc.
- ARTFX Medical.
- Globus Medical, Inc.
- RTI Surgical Holdings
- Ulrich GmbH & Co. K
- Braun Melungeon AG
- Sea spine Holdings Corporation
Market Segmentation:
The corpectomy system market is segmented on the basis of product and application. Based on product, the market is segmented as surgical instruments and devices. By application, the market is segmented into cervical and corpectomy, Thoracic Corpectomy and Lumbar Corpectomy.
Based On The Product, The Thoracic Corpectomy Segment Is Accounted As A Major Contributor To The Corpectomy System Market.
The thoracic corpectomy category is expected to hold a major share of the global Corpectomy System market in 2024. A thoracic corpectomy is a surgical procedure used to treat various spinal conditions that affect the thoracic region of the spine, typically involving the removal of one or more vertebral bodies. Advances in surgical instruments, imaging technologies, and navigation systems make thoracic corpectomy procedures safer and more precise. Surgeons can access specialized instruments designed specifically for thoracic spine surgeries, contributing to better patient outcomes.
The Surgical Instruments Segment Witnessed Growth At A Rapid Rate.
The surgical instruments segment is projected to grow at a rapid rate in the global Corpectomy System market. Surgical instruments are increasingly designed to integrate with digital health records and information systems. This enables surgeons to seamlessly access patient data, imaging, and surgical planning information during procedures. Surgical instruments with integrated navigation and imaging capabilities are gaining importance. Surgeons can use these tools for real-time visualization and guidance during corpectomy procedures. They help in the precise placement of implants and ensure optimal outcomes.
In The Region, The Asia Pacific Corpectomy System Market Holds A Significant Revenue Share.
Asia Pacific is expected a rapid growth in the global Corpectomy System market. The availability and quality of healthcare infrastructure in different countries within the Asia-Pacific region can affect the adoption of corpectomy systems. Countries with robust healthcare systems may see more extensive use of such devices. Moreover, Japan has been pivotal in advancing its exceptionally advanced spine-related medical procedures. The growth in the ageing population and the surge in traffic accidents are additional substantial factors propelling regional expansion. Some countries in the Asia-Pacific region are known for medical tourism, attracting patients from other countries for medical procedures. This could affect the market for corpectomy systems in the region. In Addition, The North America Corpectomy System market is expected to register the second highest market share in North America, especially the United States, and attract patients from other countries for medical procedures. This could affect the market for corpectomy systems, as international patients may seek these procedures in the region.
Recent Developments:
- In January 2023, Companion Spine completed the acquisition of Backbone SAS. This strategic move not only broadened the scope of companies providing medical implant solutions but also introduced Backbone's flagship medical device, the LISA implant, to the market.
- In June 2021, CoreLink augmented its assortment of 3D printed vertebral body replacement systems (VBR) by introducing the F3D Corpectomy Vertebral Body Replacement System. The system featured extensive implant sizes, user-friendly instrumentation, and Mimetic Metal® technology.
Corpectomy System Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 1.26 Bn |
|
Revenue Forecast In 2031 |
USD 1.90 Bn |
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Growth Rate CAGR |
CAGR of 5.28% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
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 Product, Application, End-User |
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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 ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
Medtronic, Johnson & Johnson, Stryker, Suasive, Zimmer Biomet, Globus Medical, Inc., Jayon Implants, Corelink, LLC., K2M Group Holdings, Inc., Normmed, Camber Spine, Nexxt Spine LLC, NuVasive, Inc.'s, Astura Medical, LLC, Aliphatic Spine, Inc., Orthotic Holdings, Inc., ARTFX Medical, RTI Surgical Holdings, Ulrich GmbH & Co., B. Braun Melungeon AG, Sea spine Holdings Corporation, and Others. |
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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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