Market Synopsis:
As per the recently published analysis by Market Research Future (MRFR), the global spinal implants market is set to expand at a CAGR of 5.5% during the forecast period 2017 to 2023. Spinal implants are extensively used for the treatment of commonly prevailing disorders such as joint issues, spinal stenosis, slip disk, etc. The rising patient pool owing to growing geriatric population, obesity, etc. are likely to catapult the expansion of the spinal implants market in the foreseeable future.
The factors that are expected to favor the expansion of the global spinal implants market are the growing prevalence of spinal ailments, availability of cost-effective spinal devices, rising demand for minimally invasive spine surgeries, etc. However, some of the restraints such as stringent regulations for obtaining approval, lack of easy reimbursements in developing countries, high procedural costs, etc. are prognosticated to hold the market growth over 2023.
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Market Segmentation
The global spinal implants market has been segmented on the basis of product, procedure, material, and region. By product, the market is segmented into vertebral compression fracture (VCF) treatment devices, non-fusion devices/motion preservation devices, spinal fusion devices, spine biologics, spinal bone stimulators, and others. The spine fusion segment is further segment is divided into cervical fixation devices, thoracolumbar devices, interbody fusion devices, and others. Nonfusion devices/ motion preservation devices are further segmented into non-bone interbody fusion devices and bone interbody fusion devices. Vertebral compression fracture (VCF) treatment devices have been sub-segmented into balloon kyphoplasty devices and vertebroplasty devices. spinal bone stimulators are sub-segmented into non-invasive spine bone stimulators and invasive spine bone stimulators. Spine biologics are sub-segmented into spinal allografts, bone graft substitutes, and cell-based matrix. Further sub segmentations are included in the report.
By procedure, the market is segmented into open surgery, minimally invasive surgery, and others.
By material, the market is segmented into titanium alloy, titanium, plastic, stainless steel, and others.
The global spinal implants market is divided into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
Regional Insights:
Globally, North America accounts for the leading market for Spinal Implant. Countries like U.S. and Canada play a vital role in the growth of this market. Factors such as the technological innovation, advancement in manufacturing processes, and contribution of nanotechnology, substantiate the market growth. Higher per capita healthcare expenditures and rising R&D funding to develop new techniques are some of the major factors supporting the growth of the market in the region. Europe is expected to be the second-largest market, demonstrating a phenomenal growth throughout the forecast period. Factors such as the financial support from the government for research and development activities, the increase in geriatric population and the increasing demand for spinal implants and devices for the treatment of spinal disorders in the region drive the market growth. Furthermore, the Asia Pacific Spinal Implant market is emerging as one of the lucrative markets. Rising cases of obesity disorders, increasing healthcare expenditure, increasing government funding, and the presence of a large patient population, along with the growing awareness about novel spine treatment techniques in the region are the major driving forces for the growth of the market.
Key Players:
Some of the leading players operating in the global spinal implant market are Depuy Synthes Inc. (Johnson & Johnson) (US), Medtronic, plc. (Ireland), Stryker Corporation (US), Zimmer Biomet Holdings, Inc. (US), NuVasive, Inc. (US), Globus Medical, Inc. (US), Orthofix International N.V. (Netherlands), Alphatec Holdings, Inc. (US), K2M Group Holdings, Inc. (US), Amedica Corporation (US), RTI Surgical, Inc. (US), Exactech Inc. (US), LDR Holding Corporation (US), Integra LifeSciences (US), Quandary Medical LLC (US), Alliance Spine (US), AESCULAP (US), Apollo Spine (US), Ascendx Spine (US), Premia Spine (Israel), A-Spine (Taiwan), Accel Spine (US), Back 2 Basics Spine (Canada), SI-BONE (US), Centinel Spine (US), Captiva Spine Inc. (US), Life Spine (US), NLT Spine (US), SpineGuard (France), Paradigm Spine LLC (US), Reliance Medical Systems (US), Precision Spine (US), Spinal Solutions Inc. (US), Spineart Geneva SA (Switzerland), and Spine Frontier (US)
Latest Industry News
- CoreLink has received FDA clearance for its new spinal implant.
- The European Commision has invested USD 3.5 Mn toward the design and building of a prototype of a novel spinal implant.
LIST OF TABLES
Table 1 Spinal Implants Industry Synopsis, 2020-2027
Table 2 Spinal Implants Market Estimates & Forecast, 2020-2027, (USD Million)
Table 3 Spinal Implants Market, by Region, 2020-2027, (USD Million)
Table 4 Spinal Implants Market, by Configuration, 2020-2027, (USD Million)
Table 5 Spinal Implants Market, by Application, 2020-2027, (USD Million)
Table 6 Spinal Implants Market, by End-U.S.er, 2020-2027, (USD Million)
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