The cervical retractors market size is projected to reach US$ 471.86 million by 2031 from US$ 231.75 million in 2023. The market is expected to register a CAGR of 9.3% during 2023–2031. Preference for minimally invasive surgeries is likely to remain key trend in the market.
Increasing incidence of cervical spine disorders such as spinal stenosis, degenerative disorders, and traumatic injuries, technological advancements in surgical devices, and growing geriatric population is fueling the growth of the cervical retractors market. The ongoing healthcare infrastructure development in developing countries and increasing number of spinal surgical procedures is also fuelin the growth of the cervical retractors market.
Geographically, Asia Pacific is expected to register highest CAGR in the forecast period 2023-2031. India is among the fastest-developing nations in the world and is among the top leading countries of Asia Pacific. India hosts ~17% of the total world population. The cervical retractors market is expected to flourish during the forecast period owing to an increase in the prevalence of spinal cord injuries, growing geriatric population, and ongoing research activities across the country. According to an article published, ~1.5 million people in India are living with spinal cord injuries. According to Narayana Health, the average annual incidence of spinal injury in India is 15,000. The geriatric population is more susceptible to spinal cord injuries and thus expected to support demand for cervical retractors. For instance, in 2021, the country recorded nearly 138 million elderly populations, comprising 67 million men and 71 million women. Thus, the rapid surge in the geriatric population across the country is likely to propel the market growth during the forecast period.
Cervical degenerative disc disease is not technically a disease, but rather a description of the degenerative process that discs located in the cervical spine go through. Essentially all people who live long enough will develop degenerated discs. Different studies suggest that many adults show no symptoms of degenerative disc disease, even though a high percentage of them still experience the signs of disc degeneration on the spine, in on an MRI. According to one of the studies, ~50% of people start showing some signs of disc degeneration in an MRI by their early 20s. Another study found ~75% of people under age 50 have disc degeneration, while more than 90% of people with age 50 have the degenerative disc disease. While nearly everyone eventually gets cervical degenerative disc disease with age, and factors such as genetics, obesity, and smoking to accelerate the process of developing this disease, so that the people become symptomatic sooner. Thus, an rise in number of cervical spine surgeries is fueling the growth of the cervical retractors market.
The patients travel to other countries due to advanced and sophisticated medical technology devices, equipment, and other products. The medical tourism is rising in Asia Pacific, wherein India is emerging as a favorable destination due to key opportunities available in the country in the form of efficient infrastructures and technology in its healthcare sector. The national medical systems and the health insurance market are well developed globally, which makes it is convenient for visitors from the West and the Middle East. Also, hospital expenses are lower in India than those in the western countries. Further, many European countries are becoming destinations for medical tourism. Poland is one of the most successful medical tourism destinations attracting a large number of patients. The cost of surgical procedures is lesser than that in many the other countries. Offering critical surgeries at cheaper costs increases patient flow to these countries for their medical treatments. Also, the availability of advanced medical techniques and increasing government funding to increase medical tourism are leading to the increasing demand for advanced surgical implants. Further, the advancing healthcare infrastructure in developing countries will likely continue the demand for advanced medical devices, enhancing growth opportunities for the spinal fusion devices market. Growing medical tourism in the emerging nations is offering significant growth opportunities to the players operating in the cervical retractors market.
Key segments that contributed to the derivation of the cervical retractors market analysis are product, and end user.
The geographic scope of the cervical retractors market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market. The growth in North America is characterized by increase in the demand of cervical retractors from hospitals & clinics, increasing number of patients undergoing minimally invasive procedures, high patient awareness, favorable reimbursement scenario, and highest spending in healthcare. In addition, rising geriatric population, increasing number of chronic diseases, and rising number of spine injuries among countries of the region are likely to account for the growth of the North American cervical retractors market during the forecast years. According to the National Spinal Cord Injury Statistical Center, the annual incidence of traumatic spinal cord injury (tSCI) is ~54 cases one million people in the US, which equals about 18,000 new tSCI cases every year. As per an article ‘2023 United States Spinal Cord Injury Statistics’, about 302,000 people in the US have experienced tSCI. Increasing prevalence of tSCI in the US is fueling the growth of the North America cervical retractors market.
The regional trends and factors influencing the Cervical Retractors Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Cervical Retractors Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 231.75 Million |
| Market Size by 2031 | US$ 471.86 Million |
| Global CAGR (2023 - 2031) | 9.3% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Cervical Retractors Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Cervical Retractors Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Cervical Retractors market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the cervical retractors market are listed below:
The “Cervical Retractors Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America dominated the cervical retractors market in 2023.
Growing prevalence of age-related cervical conditions and surging geriatric population and rising number of spinal surgeries are among the most influential factors responsible for the market growth.
Prefernece for minimally invasive surgeries is likely to remain key trends in the cervical retractors market.
Aesculap Implant Systems LLC, TeDan Surgical Innovations, Medfix International LLC, Globus Medical, Inc., NSI Health Systems, Thompson Surgical, Novo Surgical Inc., Life Spine, and Rudolf Storz GmbH are among the key players operating in the market.
The cervical retractors market is estimated to reach US$ 471.86 million in 2031.
The cervical retractors market is anticipated to record a CAGR of 9.3% during 2023–2031.