Category : Healthcare and Pharmaceuticals | Published at : April-2021 | Delivery Format : PDF | Status: Published | Pages : 190
The market for spinal implant and devices is expected to grow at a CAGR of around 5.7% from 2021 to 2028 and expected to reach the market value of around US$ 16,850.3 Mn by 2028.
Spinal implants are the devices that are used by surgeons during surgery to treat deformity, stabilize and strengthen the spine, and facilitate fusion. These implants are manufactured from the materials which are biocompatible or body-friendly and capable of providing optimal spinal stabilization and strength. The disorders which are treated with the help of spine implants and devices include degenerative disc disease, scoliosis, kyphosis, spondylolisthesis, and fracture.
Market Dynamics
The advancements in spine surgery technologies along with the increasing incidence of spinal disorders across the globe due to changing lifestyle and unhealthy diet plans are supporting the market growth. The launch of advanced bone grafting products and increasing demand for minimally invasive surgical procedures are supporting the market value. Furthermore, the emerging markets of developing economies and the increasing number of hospitals and surgical centers are projected to create potential demand over the forecast period from 2021 to 2028.
On the other hand, high costs associated with the treatment procedures as well as uncertainties in reimbursement policies of some economies are anticipated to restrict the growth to an extent over the estimated period.
Open surgery registered major revenue share (%) in the global market
By type of surgery, open surgery is leading the market with major revenue share (%) and the segment is also projected to maintain its dominance over the estimated period from 2020 to 2027. Open surgeries have importance in alleviating back pain, which is incurable by non-surgical treatment options or other medication, which is a factor contributing to its dominance.
North America accounted for the maximum revenue share in the Spinal Implant and Devices market
In 2020, the spinal implant and devices market is dominated by the North America region. North America is also projected to maintain its dominance over the forecast period from 2020 to 2027. The well-established healthcare infrastructure and manufacturers of spinal implants and devices are supporting the regional market value. The major economies of the region including US and Canada are major contributors to the regional market value. Moreover, Asia Pacific is projected to exhibit the fastest growth over the estimated period from 2020 to 2027.
The players profiled in the report include Abbott Laboratories (US), B. Braun Melsungen AG (Germany), Bioventus LLC (US), Boston Scientific (US), Colfax Corporation (US), DePuy Synthes (US), Globus Medical, Inc. (US), Implanet (France), Kuros Biosciences AG (Switzerland), Meditech Spine, LLC (US), Medtronic (Ireland), NuVasive, Inc. (US), Orthofix International N.V. (US), RTI Surgical, Inc. (US), SeaSpine Holdings Corporation (US), Spineart (Switzerland), Stryker Corporation (US), ulrich GmbH & Co. KG (Germany), and Zimmer Biomet Holdings, Inc. (US). The major spinal implant and devices players were involved in strategic developments for escalating the profit share in regional as well as the global market. The major investments were announced for the technological advancements associated with the changing consumer demand for spinal implant and devices.
Market Segmentation
Market By Product
Spinal Fusion devices
Spinal biologics
Vertebral compression fracture treatment devices
Non-fusion devices
Spinal bone growth stimulators
Others
Market By Technology
Fusion and fixation technology
Vertebral compression fracture treatment
Motion preservation technologies
Market By Type of Surgery
Open surgery
Minimally invasive surgery
Market By Procedure Type
Discectomy
Laminotomy
Foraminotomy
Facetectomy
Corpectomy
Market By Geography
North America
• U.S.
• Canada
Europe
• U.K.
• Germany
• France
• Spain
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
Latin America
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa
Frequently Asked Questions
The market for spinal implant and devices is expected to reach a market value of around US$ 16,110.0 Mn by 2027.
The spinal implant and devices market is expected to grow at a CAGR of around 5.6% from 2020 to 2027.
Open surgery is the leading segment by type of surgery in the spinal implant and devices market.
The advancements in spine surgery technologies, increasing incidence of spinal disorders, launch of advanced bone grafting products, and increasing demand for minimally invasive surgical procedures are some of the factors driving the spinal implant and devices market growth.
Abbott Laboratories (US), B. Braun Melsungen AG (Germany), Bioventus LLC (US), Boston Scientific (US), Colfax Corporation (US), DePuy Synthes (US), Globus Medical, Inc. (US), Implanet (France), Kuros Biosciences AG (Switzerland), Meditech Spine, LLC (US), Medtronic (Ireland), NuVasive, Inc. (US), Orthofix International N.V. (US), RTI Surgical, Inc. (US), SeaSpine Holdings Corporation (US), Spineart (Switzerland), Stryker Corporation (US), ulrich GmbH & Co. KG (Germany), and Zimmer Biomet Holdings, Inc. (US) are the prominent players in the market.
North America held the highest market share in the spinal implant and devices market.
Asia Pacific is expected to be the fastest growing market over the forecast period.
