According to the latest research by Future Market Insights, the cervical reactor market is set to witness robust growth with 6.9% CAGR growth during the year 2021-2031. The rising prevalence of cervical pain, increasing geriatric population and rise in number of cervical spine surgeries across globe are the major factors driving the demand for cervical reactor market.
As to the data released by the United Nations, the world had ~962 million individuals with age 60 or above in 2017, which represented 13 percent of the worldwide population in that year. Further, this population is expected to expand at a pace of 3 percent per year. Spinal problems are the most frequent conditions found in older individuals, affecting 5–55 percent of those with age 55 and above.
The growth of the market has been attributed to important factors, including the increasing prevalence age-related cervical conditions, surging geriatric population, increasing adoption of technologically advanced devices, and rise in number of cervical spine surgeries across globe are the major factor driving the demand for cervical retractors.
Furthermore, the key competitors in the market are witnessing the enormous research and development efforts to create new technologically advanced product for non-invasive surgeries.
U.S and Canada are the key manufacture of cervical retractors and the technological advancement for innovative product have encouraged the cervical retractors.?
Factors such as the growing incidents of chronic diseases, rising number of surgical procedures in the region, the presence of a well-established healthcare system, the presence of leading players can be attributed to growth in the U.S. and Canada.
Additionally, U.S. and Canada is the largest contributor to the cervical retractors market, with a similar flow likely to continue and dominate the industry in the next several years.
Europe's fastest-growing market for cervical retractors and continues and dominate the industry. Factors such as prevalence of autoimmune disorder, increasing adoption of minimally invasive surgeries, and high R&D focus by major market players are some of the factors driving the cervical retractors market Europe.
Additionally, the growing medical conditions are associated with a high risk for adverse outcomes such as mortality, disability, institutionalization, and hospitalization has also boosted the demand outlook for cervical retractors in Europe.
Some of the key players operating in the cervical retractors market are
Companies involve mergers, collaborations, and acquisitions aimed at enhancing their product portfolios, production capacity, and ensuring competitive variety. For instance, In September 2021 a new stand-alone cervical system from Nexxt Spine has been commercially launched. When it comes to titanium's strength and durability, the NEXXT MATRIXX® Cervical Stand-Alone System matches PEEK's modulus of elasticity.
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