Spinal Implant Market Size By Product Type (Artificial Discs {Cervical, Lumber}, Dynamic Stabilization Devices, Spinal Fusion Implants {Rods, Pedicle Screws, Intervertebral Body Fusion Device (IBFD), Plates, Cages}), Application (Cervical, Thoracic, Lumber), By Material (Stainless Steel, Titanium, Cobalt Chrome, Polyetheretherketone (PEEK)), By Surgery (Open Surgery, Minimally Invasive Surgery), By Indication (Spinal Trauma, Deformity), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Oct 2021  |  Report ID: GMI5148  |  Authors: Sumant Ugalmugale, Rupali Swain

Report Format: PDF   |   Pages: 200   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry trends

Spinal Implant Market size exceeded USD 8.71 billion in 2020 and is anticipated to grow at over 3% CAGR between 2021 and 2027. The rising pervasiveness of spinal diseases along with age is poised to boost the market growth. The growing incidence of spinal deformity is attributable to the adoption of a sedentary lifestyle. Moreover, the rising cases of spinal trauma is expected to spur the market expansion.
 

Spinal Implant Market Overview

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The spread of the COVID-19 pandemic across the globe has impacted the spinal implant market negatively in 2020. The medical device industry witnessed a significant drop in the sales of spinal implant products during initial months of the pandemic. To control the spread of infection, public authorities across countries announced restrictions on the movement of people and goods. Additionally, several elective surgeries were noted to be suspended or postponed indefinitely, enabling maximum hospital capacity for COVID-19 patients.
 

The increasing prevalence of spondylosis is predicted to propel the demand for market. For instance, in the U.S., 3% of individuals aged 20-29 years and 80% of individuals of 40 or above years suffer from lumbar spondylosis. The increasing prevalence of spondylosis negatively affects the clinical, economic, social condition of the world. Furthermore, rising incidences of spondylosis in the geriatric population is estimated to further stimulate the demand for spinal implants in the industry.
 

High cost of spinal surgeries in developed economies will slow down the spinal implant market progression

High cost of spinal surgeries especially in developed economies has slowed down the industry growth. According to Modern Healthcare, cost for typical back surgery in U.S. may cost patients around USD 100,000 or more. The overall surgical cost along with medication, therapy, test, and rehabilitation is projected to surpass USD 160,000.
 

Rising number of spinal fusion surgeries will accelerate the demand for spinal implant

Spinal Implant Market Size

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Spinal fusion implants segment was valued at USD 4.61 billion in 2020. The increasing number of spinal fusion surgeries is set to stimulate the demand for spinal implants and drive the industry expansion. The spinal implant procedure is performed on patients who suffer from degenerative disk disease, spondylolisthesis, spinal stenosis, scoliosis, fractured vertebra, infection, herniated disk, and tumor.
 

Growing incidence of degenerative spine diseases will spur the market value

The deformity segment dominated more than 78.8% of the spinal implant market share in 2020 led by the rising incidence of degenerative spinal diseases among the population worldwide. The World Health Organisation stated that about 413 million people across the globe are suffering from degenerative spine disease. Also, the South-East Asian population has the highest incidence rate of the disease. Additionally, the increasing burden of degenerative spine diseases and rising cost of the spinal implants across the globe will result in high industry demand for spinal implants.
 

Increasing cases of spinal trauma will influence the spinal implant market revenue

The open surgery segment crossed USD 6.35 billion in 2020 impelled by the rising incidences of spinal injuries, spinal cancer, infection, and degenerative disc diseases. It is anticipated that more than 1.62 million instrumented spinal surgeries are performed every year. The growing rate of spinal diseases is one of the prominent factors fostering the demand of spinal implants and spinal surgeries. Also, rising cases of spinal trauma will fuel the indusry progression of spinal implant.
 

Titanium is noted to remain highly prominent credited to its characteristics

The titanium segment in the spinal implant market is projected to showcase 3% growth rate through 2027 on accunt of the introduction of advanced fusion technology. The elastic modulus of titanium and its alloys are closer to that of bone and its strength is more than that of stainless steel. Moreover, Ti-based alloys produce fewer artefacts in magnetic resonance imaging (MRI) scans and computer tomography (CT). Furthermore, regulatory approval of 3D printed titanium spinal implants across the globe is set to positively impact the industry value.
 

High prevalence of lumbar spondylosis in the population will augment the market growth

The lumber segment captured 58.8% of revenue share in 2020 driven by the rising incidence of low back pain (LBP) in the population. LBP affects around 60-85% of adults because of the development of osteophytes in the elder population.
 

North America dominated the overall market expansion owing to rising number of spinal surgery

Global Spinal Implant Market

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North America spinal implant market is estimated to attain a CAGR of 2.9% till 2027. The growing incidence of spinal surgery is attributable to increasing spinal deformity among the population and rising geriatric population. The acceptance of advanced spinal fusion techniques along with the availability of innovative implants in the region is slated to enhance the regional growth. High price of the spinal surgeries in the region will further contribute to the industry revenue.
 

Growth strategies of market players are focused on increasing the customer base

A few key companeis operating in the spinal implant market are Medtronic plc, Johnson & Johnson, Zimmer Biomet, Stryker, Nuvasive, Globus Medical Inc., Alphatec Holdings, Inc., Surgalign Holdings, B. Braun Melsungen AG and SeaSpine Holdings Corporation. These market leaders are focusing on numerous strategies such as acquisitions, mergers, partnerships, new product launches, and collaborations to increase their market share for spinal implant.
 

The spinal implant market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments:

Market, By Product Type

  • Artificial Discs
    • Cervical
    • Lumber
  • Dynamic Stabilization Devices
  • Spinal Fusion Implants
    • Rods
    • Pedicle Screws
    • Intervertebral Body Fusion Device (IBFD)
    • Plates
    • Cages
    • Others
  • Others

Market, By Application

  • Cervical
  • Thoracic
  • Lumber

Market, By Material

  • Stainless Steel
  • Titanium
  • Cobalt Chrome
  • Polyetheretherketone (PEEK)
  • Others

Market, By Surgery

  • Open Surgery
  • Minimally Invasive Surgery

Market, By Indication

  • Spinal Trauma
  • Deformity

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East and Africa
    • South Africa
    • Saudi Arabia

 

Frequently Asked Questions (FAQ) :

Market size of spinal implant surpassed USD 8.71 billion in 2020 and is set to expand at a CAGR of 3% from 2021 to 2027 with the increasing pervasiveness of spinal diseases across various regions.
Spinal fusion implant market revenue reached USD 4.61 billion in 2020 and will grow with increasing performance of spinal infusion surgeries on patients suffering from spondylolisthesis, degenerative disk disease, infection, spinal stenosis, tumor, scoliosis, fractured vertebra, and others.
The open surgery was recorded to be over USD 6.35 billion in 2020 and will escalate with the rising incidences of infection, spinal cancer, spinal injuries, and degenerative disc diseases.
North America market size will grow at a CAGR of 2.9% up to 2027 owing to the surging geriatric population and the escalating spinal deformity among the population.
Major participants across the industry comprise Johnson & Johnson, Surgalign Holdings, Zimmer Biomet, Medtronic plc, SeaSpine Holdings Corporation, Nuvasive, Alphatec Holdings, Inc., and others.

Premium Report Details

  • Published Date: Oct 2021
  • Pages: 200
  • Tables: 353
  • Charts / Figures: 17
  • Companies covered: 10
  • Countries covered: 15

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