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According to Market Research Future (MRFR), the global spinal needles market is estimated to witness a sharp growth by 2023, in terms of value and volume. In its recently published study report, MRFR also asserts that the market would register a CAGR over 6.8% during the forecasted period (2017 – 2023). The increasing prevalence of different neurological diseases that are damaging brain and spinal nerves are driving the market growth.

The global spinal needles market is increasing rapidly, mainly due to the rising cases of spinal disorders and injuries. Additionally, the growing population is also supporting the market growth up to some extent. Moreover, digital healthcare is manifesting a more global approach with group practices and consolidations throughout spinal treatments markets, which, as a result, is providing impetus to the growth of the market.

Similarly, increasing numbers of patients suffering from neurodegenerative disorders like Alzheimer’s and Parkinson’s disease are fostering the growth of the spinal needles market. Besides, increasing healthcare expenditures and governmental support for the research and development contribute to the market growth. On the other hand, the development of alternative diagnostic tests and misconception about spinal needles among people impedes the growth of the market.

Global Spinal Needles Market – Segments

The report is segmented into five market dynamics to widen the scope of understanding,

By Type : Directional Spinal Needles, Atraumatic Needle Tips, and Pencil-point Needles, among others.

By Size: 24G, 25G, and 27G, among others.

By Application: Diagnostics and Therapeutics.

By End-users: Hospitals, Clinics, among others.

By Regions: Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).

Industry/ Innovation/ Related News

August 23, 2019 ---- SurGenTec LLC (the US), a leading medical device company announced the receiving of FDA clearance for a neurostimulation indication for its ALARA Neuro Access Needle Kit, used for targeting and assisting in cannulating a pedicle. The needle system is generally the first instrument used to perforate the pedicle wall before advancing a guidewire, tap or pedicle screw. The company would have a commercial exhibit at the upcoming North American Spine Society meeting in Chicago, during September 25–28, 2019.

March 20, 2019 ---- Brainlab Company (Germany), a global pioneer of software-driven medical technology, announced the acquisition of Medineering (Germany), a developer of application-specific robotic technologies. Brainlab technology powers treatments in radiosurgery, radiotherapy, and numerous surgical fields, including neurosurgery, orthopedic, ENT, CMF, spine, and trauma.

Global Competitive Analysis:

The sector’s long term development can be captured by continuing ongoing process improvements and sustaining financial fluidity to invest in the best strategies. A trend of volume-driven growth has been witnessed in the sector recently with the development of different varieties and product types. The sector is also simultaneously undergoing substantial transformation which has enhanced the growth pace of the sector. Companies are focusing to capture a considerable share of the market segment as early as possible, experimentation with various advantage points is being seriously considered and implemented. The industry players in the segment are effectually employing their primary resources to initiate long lasting growth.

The top players in this market segment are Halyard Health (US), Boston Scientific (US), MYCO Medical (US),  B. Braun (Germany), Medline Industries (US), Sarstedt (UK), BD (US), Smiths Medical (US), Exel International (US), Wallach Surgical (US) and Medtronic (UK) to name a few.