South and Central America 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 “South and Central America Cervical Retractors Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, End-user and Country.” The South and Central America cervical retractors market is expected to reach US$ 12.74 million by 2028 from US$ 7.88 million in 2021; it is estimated to grow at a CAGR of 7.1% from 2021 to 2028. The report highlights trends prevailing in the South and Central America 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 outbreak of COVID-19 has severely impacted the flow of medical services in the South and Central America region. The countries are famous for medical tourism and low cost for surgical procedures, which is also affected by the pandemic. It is expected that the region is likely to impose second restrictions, which is expected to hamper the healthcare industry in the region. Moreover, countries are significantly dependent on the US and European countries for their medical resources which are under lockdown affecting the region’s economy. However, the evolving treatment procedures for the COVID-19 in the region is expected to have and positive impact on the market in the region owing to the people are opting for their routine treatments and procedures.

The South and Central America cervical retractors market, by product, is segmented into transverse retractors, and longitudinal retractors. Based on End-user, the South and Central America cervical retractors market is segmented into hospital, clinic, and others. Geographically, the South and Central America cervical retractors market can be bifurcated into Brazil, Argentina and Rest of South and Central America.

Aesculap Implant Systems, LLC, TeDan Surgical Innovations, NSI Health Systems, Thompson Surgical, Novo Surgical, Inc, Life Spine and Rudolf Storz GmbH are among the leading companies operating in the South and Central America cervical retractors market

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