Report : Europe Cervical Retractors Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Transverse Retractors and Longitudinal Retractors) and End User (Hospital, Clinic, and Others)
The transverse retractors segment by product is estimated to lead the market growth during the forecast period.
According to a new market research study of “Europe Cervical Retractors Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, End User and Country.” The Europe cervical retractors market is expected to reach US$ 108.24 million in 2028 from US$ 63.43 million in 2021; it is estimated to grow at a CAGR of 7.9% from 2021 to 2028. The report highlights trends prevailing in the Europe cervical retractors market and the factors driving market along with those that act as hindrances.
Surge in aging population is poised to one of the most significant causes of social transformations in the 21st century. As per the data published by the United Nations, the world had ~962 million people with age 60 or above in 2017, which was 13% of the global population in that year. Further, this population is estimated to grow at a rate of 3% every year. Spinal conditions are the most common conditions observed in older adults, affecting 5–55% of people with age 55 and above. These medical conditions are associated with a high risk for adverse outcomes such as mortality, disability, institutionalization, and hospitalization. Hence, with the growing geriatric population and rise in prevalence of associated cervical pain, the cervical retractors market is witnessing significant growth. 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. 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. Hence such rising incidences in cervical disc degeneration and higher number of cervical spine surgeries across globe also boosts the market growth.
The COVID–19 pandemic has shown a significant negative impact on the global and European health economies. Health services in the European region are highly prioritized to serve patients affected by COVID-19. The routine health care services have remained suspended. Therefore, it has affected the market and its dependable revenue generation in the region. Surgical devices such as cervical retractors are made up of stainless steel and titanium materials. These types of medical devices are reusable after sterilization. As it is reusable, such devices' consumption is relatively low compared to disposable single-use devices. Thus, there is less demand for the devices in the market. All these factors are anticipated to low impact on the cervical retractors market in the forecast period.
The Europe cervical retractors market, by product, is segmented into transverse retractors, and longitudinal retractors. Based on end user, the Europe cervical retractors market is segmented into hospital, clinic, and others. Geographically, the Europe cervical retractors market can be sub-segmented into UK, France, Germany, Italy, Spain and Rest of Europe.
Aesculap Implant Systems, LLC, TeDan Surgical Innovations, Globus Medical, Inc, NSI Health Systems, Thompson Surgical, Novo Surgical, Inc, Life Spine and Rudolf Storz GmbH are among the leading companies operating in the Europe cervical retractors market.
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