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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.
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.
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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.
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.
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