India spine surgery market is projected to witness a CAGR of 5.51% during the forecast period FY2025-FY2032, growing from USD 558.19 million in FY2024 to USD 863.79 million in FY2032. The growth of the market is supported by the rising cases of spine injuries, increasing burden of diabetes and obesity, and growing investments by the key market players in the country.
A minimally invasive procedure is considered to be one of the best options in case of spine injuries and is witnessing an increase in demand as the cases of spinal injuries rise. With over 200,000 cases being reported over the span of a year, doctors prefer minimally invasive surgeries as the limited tissue and muscle damage aids in faster recovery of the patient, augmenting the India spine surgery market demand. The emerging spine-related issues in the Indian population can be attributed to inappropriate living conditions of a major share of the population and lack of physical activity.
The growth of the market is also supported by the rising investments by the key market players in the country. In February 2024, Medtronic Plc. opened the expanded Medtronic Engineering and Innovation Center (MEIC) in Hyderabad. The project is part of a more than USD 350 million investment (approximately INR 3,000 crore) that the company has committed to over the course of five years for expanding and scaling up the research and development center. The facility is expected to employ 1500-2000 individuals and will boast 2.5 lakh sq. ft. dedicated to education, training, immersive experiences, and collaborative innovation to enhance the future of healthcare technologies.
Increasing Incidences of Road Accidents Contributes to Market Expansion
The rising cases of road accidents are one of the major factors boosting the India spine surgery market size as they are the leading cause of spinal cord injuries in the country despite various government measures, including investments towards the upgradation of road infrastructure and compulsory wearing of seat belts. The Indian Spine Injuries Centre (ISIC) had 1,537 patients in 2022, of which 661 patients were those who had a spinal cord injury because of a road traffic accident. Thus propelling the requirement for surgical intervention for fusing broken spinal bones, removing tissue or fluid that presses on the spinal cord, and removing disc and bone fragments, among others. Spinal surgery can also be required to release pressure from the injured area and evaluate and assess the nature of the spinal cord injury.
Read More: https://www.marketsandata.com/industry-reports/india-spine-surgery-market
Growing Prevalence of Diabetes Boosts Market Demand
The rising cases of diabetes are expected to bolster the market’s demand in the country, as patients with diabetes are at a higher risk of developing disc degeneration in the lumbar region of the spine. According to the estimates of the World Health Organization (WHO), approximately 77 million individuals above the age of 18 are living with type 2 diabetes in India, and approximately 25 million are prediabetic. Diabetes is also associated with spinal stenosis, among other lumbar spine disorders, resulting in the requirement of frequent spinal procedures. The disease also increases the risk of epidural abscess, an infection that occurs in the area between the membrane of the spinal cord and vertebral bones. Thus, propelling the market’s demand in the country.
Minimally Invasive Surgeries Are Expected to Witness Growth
The rising requirement for spine surgeries can be attributed to the rapid adoption of unhealthy lifestyles, environmental degradation, bad posture, and sedentary jobs. The popularity of minimally invasive procedures is expected to rise in the coming years due to the various advantages offered, including preservation of the normal structure and rapid recovery. Other advantages include reduced hospital stay, decreased postoperative wound pain, and improved patient recovery. Augmented reality and robotics are also expected to play a crucial role in enhancing the precision and accuracy of minimally invasive procedures. Due to the expansion of the geriatric population, the popularity of minimally invasive spine surgeries is further expected to increase in India. According to estimates from the United Nations Population Fund (UNFPA), by 2050, approximately 347 million individuals will be 60 or older.
Hospitals Hold Major Market Share
The segment’s growth is supported by the rising investments in the construction of hospitals to provide advanced medical services to patients. In March 2024, the construction of AIIMS Madurai was started by Larsen & Toubro; the hospital will be constructed over 1,08,325 square meters and is expected to be completed in 33 months. The project is funded by the Japan International Corporation Agency (JICA) and will cost USD 236 million (INR 1,978 crore).
Meanwhile, specialty clinics are expected to witness growth in the coming years due to increasing investments by various healthcare giants in the country. In June 2024, Fortis Escorts launched a dedicated spine clinic at their Faridabad center to cater to patients with cervical pain, spinal injuries, and spinal dysraphism, among others. The acquisition of an advanced computer also supports the launch of computer-assisted Neuronavigation Medtronic Stealth station S8, which has enhanced capabilities for performing spine surgeries with higher accuracy and precision.
Future Market Scenario (FY2025-FY2032F)
1. As per the India spine surgery market analysis, the market is expected to witness significant growth in the coming years owing to the rising cases of diabetes in the country and an increasing number of spinal cord injuries. According to the estimates of the International Diabetes Federation (IDF), approximately 124.9 million individuals will be suffering from diabetes by 2045 in India.
2. The rising preference for minimally invasive spine surgeries due to the growing awareness about the different advantages associated with them is another major factor expected to provide lucrative growth opportunities to the market.
3. Rising investments in the country in enhancing and upgrading the healthcare sector are also expected to aid the market’s expansion. Various hospitals and healthcare organizations actively invest in increasing the accessibility of advanced medical services and equipment and training healthcare professionals.
Report Scope
“India Spine Surgery Market Assessment, Opportunities and Forecast, FY2018-FY2032F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of India spine surgery market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between FY2025 and FY2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
Contact
Mr. Vivek Gupta
5741 Cleveland street,
Suite 120, VA beach, VA, USA 23462
Tel: +1 (757) 343-3258
Email: info@marketsandata.com
Website: https://www.marketsandata.com/
Related Report:
Vietnam Generic Drugs Market Assessment, Opportunities and Forecast, 2017-2031F
South Korea Generic Drugs Market Assessment, Opportunities and Forecast, 2017-2031F
Saudi Arabia Generic Drugs Market Assessment, Opportunities and Forecast, 2017-2031F
Global Transplant Diagnostics Market Assessment, Opportunities and Forecast, 2017-2031F