Spinal Implants Market is Growing at a CAGR of 5.40%, Delveinsight

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Spinal Implants Market is Growing at a CAGR of 5.40%, Delveinsight

The global Spinal Implants Market was valued at USD 13.01 billion in 2021, growing at a CAGR of 5.40% during the forecast period from 2022 to 2027 to reach USD 17.84 billion by 2027. The rise in demand for Spinal Implants is predominantly attributed due to the increasing prevalence of various spinal disorders which include spinal stenosis, disc herniation, and degenerative disc diseases, among others in the older population across the globe. Moreover, shifting focus towards technological advancement in bone graft products, rising awareness among the patient population regarding spinal disorder and their proper management, and rising preferences for minimally invasive surgeries are the factors driving the spinal implants market.

 

Spinal Implants: An Overview

Spinal implants are devices surgeons use during surgery to treat deformity, stabilize and strengthen the spine, and facilitate fusion. Disorders treated using spinal implants include degenerative disc disease, scoliosis, kyphosis, spondylolisthesis, and fracture.

 

Regions Covered in the Report

  • Global

 

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Recent Developmental Activities in the Spinal Implants Market:

  • In August 2021, Aurora Spine Corporation received FDA 510(k) clearance for DEXA-C™ Cervical Interbody System.
  • In August 2021, Camber Spine received FDA 510(k) clearance for both its SPIRA-P Posterior Lumbar Spacer technology and SPIRA-T Oblique Posterior Lumbar Spacer technologies.
  • In March 2021, Aurora Spine Corporation successfully launched its Proprietary SiLO™ Posterior SI Joint Fusion System.
  • In October 2020, Medtronic launched Adaptix Interbody System, a navigated titanium implant with Titan nanoLOCK surface technology, a blend of surface textures on the macro, micro, and nano levels.

 

Key Takeaways from the Spinal Implants Market Report Study

  • Market size analysis for current market size (2021), and market forecast for 5 years (2022-2027)
  • The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Spinal Implants market.
  • Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
  • Key companies dominating the Global Spinal Implants Market.
  • Various opportunities available for the other competitor in the Spinal Implants Market space.
  • What are the top-performing segments in 2021? How these segments will perform in 2027.
  • Which are the top-performing regions and countries in the current market scenario?
  • Which are the regions and countries where companies should have concentrated on opportunities for Spinal Implants market growth in the coming future?

 

Spinal Implants Market Dynamics

The demand for the spinal implants are growing at an unprecedented rate because of the rising population suffering with spinal related deformities caused due to road traffic crashes, falls, or increasing age across the globe. The world population is aging, according to the statistics of World Population Ageing 2020 Highlights, globally, the share of the population aged 65 years or over is expected to increase from 9.3 % in 2020 to around 16.0 % in 2050. Rising aging population are more susceptible to develop spinal deformities such as degenerative disc disorders, spinal stenosis, and others. For instance, according to a study: Lumbar Spinal Stenosis by Wu L. and Cruz R. published in NCBI in the year 2020, the prevalence of acquired lumbar spinal stenosis was 19.4% for the population aged between 60 and 69 years.

Moreover, according to the 2021 statistics of the Spinal Cord Injuries Australia, a non-government organization, approximately 15000 of the Australian population live with a spinal cord injury and traffic crashes contribute to 46% of all the cases whereas falls contribute to around 36% of all the traumatic SCI cases.

 

Spinal Implants Market Segment Analysis

Spinal Implants Market By Product Type (Spinal Fusion & Fixation Devices [Thoracolumbar Devices, Cervical Fixation Devices, and Interbody Fusion Devices], Motion Preservation/Non-Fusion Devices [Artificial Disc Replacement, Dynamic Stabilization Devices, Annulus Repair Devices, and Others], Vertebral Compression Fracture Treatment Devices/Spine Augmentation Devices [Vertebroplaty Devices, Balloon Kyphoplasty Devices], Spine Biologics [Demineralized Bone Matrix, Bone Morphogenetic Proteins, Allografts, and Others]), By End-User (Hospitals, Orthopedic Clinics, and Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

 

Spinal Implants Market- Product Segment

In the Spinal Implants product segment, spinal fusion and fixation devices are expected to hold a largest market share during the forecast period. This is due to the availability of a wide range of spinal fusion and fixation devices in the market. Also, increasing lumbar spine degeneration prevalence across the globe is expected to fuel the segmental market. According to a NCBI study: Degenerative Lumbar Spine Disease: Estimating Global Incidence and Worldwide Volume by Ravindra M.V. et al., published in the year 2018, a total of 266 million individuals (3.63%) worldwide were found to have Lumbar degenerative spine disease (DSD) and low back pain (LBP) annually.

 

Spinal Implants Market is expected to dominate the North America

North America is expected to dominate the overall Spinal Implants market during the forecast period. This domination is due to the existence of well-established reimbursement scenario for spinal surgeries in the region. In addition, presence of proper and advanced healthcare facilities, and rising prevalence of low back pain in the region is also a factor driving the market in the region. Further, In the United States, the rising spinal cord injury is also expected to propel the spinal implants market. According to the National SCI Statistical Center 2018, people in the United States the annual incidence of spinal cord injury (SCI) is approximately 54 cases per one million or about 17,700 new SCI cases each year.

 

Spinal Implants Market Companies

Some of the key market players operating in the Spinal Fusion Devices market includes Medtronic, Johnson & Johnson, Zimmer Biomet, Stryker Corporation, B. Braun Melsungen AG, NuVasive®, Inc., Orthofix Medical Inc., XTANT MEDICAL, RTI Surgical, Life Spine, Inc., Globus Medical, Captiva Spine, Inc., Medacta International, ATEC Spine, Inc, Advin Health Care, Auxein Medical, Aurora Spine, Spineology Inc., Camber Spine Technologies, LLC, Exactech, Inc., and others.

 

Find more related information of the report– Spinal Implants Market Share

 

Table of Content

1. Spinal Implants Report Introduction

2. Spinal Implants Executive summary

3. Regulatory and Patent Analysis

4. Spinal Implants Market Key factors analysis

5. Spinal Implants Porter’s Five Forces Analysis

6. COVID-19 Impact Analysis on Spinal Implants Market

7. Spinal Implants Market layout

8. Spinal Implants Global Company Share Analysis – Key 3-5 Companies

9. Spinal Implants Company and Product Profiles

10. Project Approach

11. KOL Views

12. DelveInsight Capabilities

13. Disclaimer

14. About DelveInsight  

 

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