Market Insights
According to Market Research Future's newest report on the global spinal implants, market reveals that the market is anticipated to grow at a CAGR of 5.5% during the forecast period of 2017 to 2023. Used extensively to treat spinal deformities and other common spinal issues that may occur with age, the market is expected with witness moderate and consistent growth over the assessment period.
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Age-related wear and tear often result in spinal problems such as spinal stenosis. The presence of a globally growing geriatric population is expected to drive the demand for spinal implants. Urbanization has led to increasingly sedentary lifestyles which aggravate spinal problems, thus resulting in increasing diagnoses of chronic back pain; as such, the demand for spinal implants is expected to grow significantly. Development of advanced technology and spinal implants which combined with the growing demand for minimally invasive spinal surgeries have resulted in cost-effective spinal implants are expected to increase demand for the same.
At present spinal procedures are expensive, and there are stringent regulations surrounding the approval of new spinal devices which is expected to hinder market growth.
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:
The global spinal implants market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is likely to hold its pole position towards the end of the forecast period. The factors favoring the expansion of the spinal implants market in the region are technological developments, integration of nanotechnology into pharmaceutical packaging, and advancements in the manufacturing processes.
Europe holds the second largest share of the global spinal implants market. The major drivers of market growth in the region are rising geriatric population and an upsurge in the patient pool of spinal disorders. The constant focus of the governments on research & development is expected to catapult the spinal implants market on an upward trajectory.
The factors that are responsible for catalyzing the growth of the spinal implants market in Asia Pacific are rising healthcare expenditure, the presence of a large patient pool, growing awareness about novel technologies, etc.
Market Key Players
Market players included in MRFRs competitive analysis include Depuy Synthes Inc. (Johnson & Johnson), Medtronic, plc, A-Spine, Stryker Corporation, Alphatec Holdings, Inc., Quandary Medical LLC, Spine Frontier, Apollo Spine, Precision Spine, Premia Spine, K2M Group Holdings, Inc., Exactech Inc., Integra LifeSciences, SI-BONE, Reliance Medical Systems, AESCULAP, Zimmer Biomet Holdings, Inc., Globus Medical, Inc., NuVasive, Inc., Life Spine, Orthofix International N.V., SpineGuard, Spinal Solutions Inc., Spineart Geneva SA, Accel Spine, Captiva Spine Inc., Back 2 Basics Spine, RTI Surgical, Inc., Centinel Spine, NLT Spine, Paradigm Spine LLC, Ascendx Spine, Amedica Corporation, LDR Holding Corporation, Alliance Spine and others
TABLE OF CONTENT
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power of Suppliers
5.1.2 Bargaining Power of Buyers
5.1.3 Threat of New Entrants
5.1.4 Threat of Substitutes
5.1.5 Intensity of Rivalry
5.2 Value Chain Analysis
5.3 Investment Feasibility Analysis
5.4 Pricing Analysis
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