According to The Insight Partners latest study on Cervical Retractors Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, and End User,” the market was valued at US$ 200.54 million in 2021 and is projected to reach US$ 1,749.60 million by 2028; it is expected to grow at a CAGR of 5.6% during 2021–2028. The report highlights the trends prevailing in the market, and drivers and deterrents pertaining to the market growth.
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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 prominent players operating in the cervical retractors market.
These companies are adopting partnerships, product launches, collaborations, and other business strategies to sustain their position in the market. For instance, in September 2018, 4WEB Medical, announced at the North American Spine Society (NASS) Annual Meeting that the company has entered into an exclusive partnership with both TeDan Surgical Innovations and Lattus Spine, LLC to market a turnkey, best in class, Total Lateral Solution.
Based on product, the cervical retractors market is segmented into transverse retractors and longitudinal retractors. In 2021, the transverse retractors segment accounted for a larger share of the market. The market growth for this segment is attributed to the availability of products and preference of the surgeons.
The factors such as the growing prevalence of age-related cervical conditions, surging geriatric population, and rise in number of cervical spine surgeries drive the growth of the cervical retractors market. However, availability of alternative therapies restrain the market growth. Besides, the medical tourism in developing countries would offer lucrative opportunities for the growth of the market during the forecast period.
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.
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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 accelerate the process of developing this disease, so that the people become symptomatic sooner. The prevalence of obesity is high, exceeding 30% of the population in the US. The number of cervical spine surgeries has increased significantly in the last decade; it reached 36,441 in 2011 (P<0.001) from 27,445 in 2002, with anterior cervical fusions being the most common type (84%).
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