Spinal Implants and Devices Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3190
Spinal Implants and Devices Market size is projected to experience significant growth from 2019 to 2025.
Spinal implants and devices market size will witness significant growth due to rising incidences of spinal injuries, surgeries and degenerative disc diseases. Other conditions that will give an impetus to the spinal implants and devices market are scoliosis, slippage or spondylolisthesis and traumatic fracture. A high incidence of spine related diseases leading to spinal surgeries will assist the spinal implant and devices market growth. Obesity can be highly associated with these spinal disorders. A higher Body Mass Index (BMI) is linked to causing lower back pains and lumbar disc degenerations resulting in spinal disorders. Obesity as a driving factor will contribute furthermore to impel the spinal implants and devices market growth.
Elderly population is prone to spinal injuries. Spinal disorders majorly affect the geriatric populations giving rise to spinal deformities and pain. As per UN 2017 estimates, worldwide geriatric population will double by 2050 to reach an estimated value of more than 2.1 billion boosting market growth in the future. Increasing trend in the aged populations worldwide will provide a lucrative growth to the spinal implants and devices.
Technological advancements in this field are rapidly evolving, driving the spinal implants and devices industry. The scientists are developing spine implants and devices to render minimally invasive surgeries. The technologies have been innovated from fusion devices to motion preservation in this industry to propel the spinal implants and devices market growth. For instance, the scientists are working on techniques to introduce bio-resorbable implants.
However, reimbursements, lack of technical expertise and strict regulatory approvals processes could impair the market growth.
Spinal fusion devices segment will propel the spinal implants and devices market growth owing to increasing technological innovations in this segment. High incidence of lumbar, cervical and thoracic areas of spine disorders and increased demand for minimally invasive surgeries further drive the segment growth.
Minimally invasive surgeries (MIS) segment is anticipated to grow in future in due to its relative advantage with respect to costs, time and enhanced benefits, in comparison with the open spine surgery.
U.S. will drive the North America spinal implants and devices market owing to the increased spinal surgery rates in this country. The target patient population for MIS being geriatric population that is the highest in U.S. will favor the spinal implant and devices market growth.
China will impel the Asia-Pacific spinal implants and devices market growth on account of increased spine surgeries in the aging as well as the working population.
Some of the major industry players include Alphatec Holdings, B. Braun Melsungen, Johnson & Johnson, Globus Medical, Medtronic, Exactech, Nuvasive, Stryker Corporation, Orthofix International and Zimmer Biomet Holdings. The industry players focus on new product innovations, mergers, acquisitions and partnerships to expand their business in the spinal implants and devices. In March 2016, Johnson and Johnson signed a deal with DePuy Synthes for collaboratively developing the MI implant that will be used for the treatment of degenerative disc disease.
Spinal implants and devices Market by Product, 2014-2025 (USD Million)
- Spinal Fusion Devices
- Non-Fusion/Motion Preservation Devices
- Vertebral Compression Fracture Devices
- Spine Bone Stimulators
- Spine Biologics
Spinal implants and devices Market by Type of Surgery, 2014-2025 (USD Million)
- Open Spine Surgery
- Minimally Invasive Spine Surgery
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Alphatec Holdings
- B. Braun Melsungen
- Globus Medical
- Johnson & Johnson
- Orthofix International
- Stryker Corporation
- Zimmer Biomet Holdings
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