Spinal Implant Market Size By Product Type (Artificial Discs {Cervical, Lumbar}, Dynamic Stabilization Devices, Spinal Fusion Implants {Rods, Pedicle Screws, Intervertebral Body Fusion Device (IBFD), Plates, Cages}), Application (Cervical, Thoracic, Lumbar), By Material (Stainless Steel, Titanium, Cobalt Chrome, Polyetheretherketone (PEEK)), By Surgery (Open Surgery, Minimally Invasive Surgery), By Indication (Spinal Trauma, Deformity), Industry Analysis Report, Regional Outlook, Type Potential, Competitive Market Share & Forecast, 2023 – 2032

Industry Statistics

Spinal Implant Market size was valued at more than USD 10 billion in 2022 and is expected to foresee more than 2.5% CAGR through 2032. The rising demand for minimally invasive procedures is spurring the market forecast.
 

Get more details on this report - Request Free Sample PDF
 

Minimally invasive spine (MIS) surgery facilitates faster recovery time, reduces the risk of muscle damage, and has a low chance of surgical site infection or complications. A study by Elsevier revealed that an estimated 75% of the 1.2 million spinal procedures performed each year in the United States could be performed in whole, or in part, using MIS techniques.

High cost of spinal surgeries in developed economies may impede spinal implant market progress

The burden of expensive spinal surgeries in developed economies have negatively impacted the market development. For instance, the cost of a typical back surgery in U.S. ranges around USD 100,000 or more. The overall surgical cost together with medication, test, therapy, and rehabilitation is estimated to surpass USD 160,000. These factors have led to the sluggish growth in the market and are anticipated to hamper the market progression.

Rising need for increased bone stability to trigger spinal fusion implant demand

Get more details on this report - Request Free Sample PDF
 

Spinal implant market from spinal fusion implant segment is expected to surpass USD 7.9 billion by 2032. Spinal fusion implants include rods, intervertebral body fusion device (IBFD), pedicle screws, plates, cages, and others. The implant procedure is performed on patients suffering from spondylolisthesis, degenerative disk disease, spinal stenosis, fractured vertebra, scoliosis, infection, herniated disk, and tumour. Thus, rising incidences of spinal diseases worldwide is anticipated to augment the industry expansion.

Rising incidence of arthritics to favor industry growth through deformity indication

Spinal implant market share from the deformity segment is likely to exhibit a 3% CAGR through 2032. The increasing prevalence of bone related diseases is expected to drive the product uptake. Nearly 58.5 million people in the U.S. suffer from arthritis. It is a leading cause of work disability. Other forms include rheumatoid arthritis, gout, and lupus. Thus, the increasing occurrence of the disease across the globe is expected to accelerate the market trends.

Increasing capitalization for chemical resistance to influence adoption of PEEK spinal implants

Get more details on this report - Request Free Sample PDF
 

The spinal implant market share from the polyetheretherketone (PEEK) segment is expected to showcase over 3% CAGR through 2032. In comparison with other materials, PEEK offers significant clinical advantages such as low allergic and hypersensitive reactions, high stability, etc. Additionally, PEEK implants can also be used in the thriving field of 3D printing in healthcare. It has wear, fatigue, corrosion, and chemical resistance, which makes the metal a popular implant material. 

Prevalence of spine diseases to boost the Asia Pacific market statistics

Asia Pacific spinal implant market is expected to grow at more than 3% CAGR through 2032 due to the high prevalence of degenerative spine diseases. For instance, approximately 26.6% of the adult population in the region suffers from a degenerative disease. Lumbar degenerative disc disease is considered as one of the most common types of degenerative disc disease affecting the regional population. 
 

Get more details on this report - Request Free Sample PDF
 

New product launches to boost spinal implant industry forecast

Johnson & Johnson, Medtronic plc, Stryker, Globus Medical Inc, Nuvasive, Alphatec Holdings, Inc., B. Braun Melsungen AG, Surgalign Holdings, SeaSpine Holdings Corporation, and ZimVie Inc are some prominent spinal implant manufacturers in the market. These industry players are focusing on upgrading their existing offerings and launching new products for unlocking maximum market participation.
 

Effect of COVID-19 pandemic on spinal implant market outlook

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

The spinal implant market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

By Product Type

• Artificial discs
  • Cervical
  • Lumbar
• Dynamic stabilization devices
• Spinal fusion implants
  • Rods
  • Pedicle screws
  • Intervertebral body fusion device (IBFD)
  • Plates
  • Cages
  • Others
• Others

By Application

• Cervical
• Thoracic
• Lumbar

By Material

• Stainless steel
• Titanium
• Cobalt chrome
• Polyetheretherketone (PEEK)
• Others

By Surgery

• Open surgery
• Minimally invasive surgery

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