According to the new market research report Spinal Implants Market is expected to reach USD 17.27 billion by 2021, growing at CAGR of 5.3% during the forecast period. Technological advancements in spine surgery devices, and increasing aging and obese population with increasing number of spine deformities, and rising demand for minimally invasive spine surgery procedures are the key factors fuelling the growth of the spinal surgery devices market.
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Motion preservation/non-fusion technology segment to grow at fastest rate during the forecast period.
On the basis of technology, the global spinal implants market is segmented into three categories, namely, spinal fusion and fixation, vertebral compression fracture treatment, spinal decompression, and motion preservation/non-fusion technologies. The motion preservation/non-fusion segment is expected to grow at the highest CAGR in the next five years, owing to the development of technologically advanced non-fusion devices and rising demand for minimally invasive surgical procedures among patients. The spinal fusion and fixation technology segment has been further divided into two categories, namely, fusion and fixation. The motion preservation/non-fusion technologies segment is further categorized into dynamic stabilization, artificial disc replacement, annulus repair, and disc nucleus replacement.
Based on the type of product, the spinal implants market is classified into seven segments, namely, thoracic fusion and lumbar fusion devices, cervical fusion devices, spine biologics, vertebral compression fracture treatment devices, non-fusion treatment devices, spinal decompression devices, and spine bone stimulators. The market has also been classified into open surgery and minimally invasive surgery, based on the type of surgery.
Asia Pacific regional segment is estimated to grow at fastest CAGR during the forecast period
As of 2016, North America held the largest share of the global spinal implants and surgical devices market, followed by Europe. However, Asia Pacific is estimated to grow at the highest CAGR from 2016 to 2021 owing to the increasing government healthcare expenditure, presence of a large patient population, and growing awareness about newly developed spine treatment techniques.
New product launches and product enhancements is the key growth strategy adopted by major players to sustain their positions in the global spinal implants market. Moreover, strategies such as partnerships, agreements, and collaborations; and acquisitions were also adopted by a significant number of market players to strengthen their product portfolios and expand their geographic presence in the market.
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Medtronic, plc (Ireland), DePuy Synthes (U.S.), Stryker Corporation (U.S.), NuVasive, Inc. (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Globus Medical, Inc. (U.S.), Alphatec Holdings, Inc. (U.S.), Orthofix International N.V. (Netherlands), K2M Group Holdings, Inc. (U.S.), and RTI Surgical, Inc. (U.S.) are some of the key players operating in the global spinal implants market
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According to research report the global spinal implants market is projected to reach USD 13.8 billion by 2025 from USD 10.3 billion in 2019, at a CAGR of 5.0%.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=712The major players operating in the spinal implants and surgery devices market are Medtronic (Ireland), DePuy Synthes (US), NuVasive, Inc. (US), Stryker Corporation (US), B. Braun Melsungen AG (Germany), Zimmer Biomet Holdings, Inc. (US), Globus Medical, Inc. (US), Orthofix International N.V. (US), Abbott Laboratories (US), RTI Surgical, Inc. (US), Boston Scientific (US), SeaSpine Holdings Corporation (US), ulrich GmbH & Co. KG (Germany), Spineart (Switzerland), Kuros Biosciences AG (Switzerland), Bioventus, LLC (US), Colfax Corporation (US), Meditech Spine, LLC (US), and Implanet (France).
Medtronic (Ireland) dominated the global spinal implants market in 2019, owing to its wide portfolio of spine surgery products and strong geographical presence across the globe.
The company primarily focuses on developing technologically advanced products for minimally invasive spine surgeries.
DePuy Synthes (US) held the second position in the global spinal implants and surgery devices market in 2019.
The company has a strong geographical presence and offers a broad range of products that are integral to the spinal implants and surgical devices market.
The company primarily focuses on strengthening its R capabilities to continuously develop and commercialize innovative spine products in the global spinal implants market.Market Growth Factors -Advancements in spine surgery technologies, increasing incidence of spinal disorders, the launch of advanced bone grafting products, and the increasing adoption of minimally invasive spine surgeries are the major factors driving the growth of this segment.
Market Synopsis:As per the recently published analysis by Market Research Future (MRFR), the global spinal implants market is set to expand at a CAGR of 5.5% during the forecast period 2017 to 2023.
Spinal implants are extensively used for the treatment of commonly prevailing disorders such as joint issues, spinal stenosis, slip disk, etc.
However, some of the restraints such as stringent regulations for obtaining approval, lack of easy reimbursements in developing countries, high procedural costs, etc.
Further sub segmentations are included in the report.
The major drivers of market growth in the region are rising geriatric population and an upsurge in the patient pool of spinal disorders.
The constant focus of the governments on research & development is expected to catapult the spinal implants market on an upward trajectory.The factors that are responsible for catalyzing the growth of the spinal implants market in Asia Pacific are rising healthcare expenditure, the presence of a large patient pool, growing awareness about novel technologies, etc.Key PlayersMarket players included in MRFRs competitive analysis include Depuy Synthes Inc. (Johnson & Johnson), Medtronic, plc, A-Spine, Stryker Corporation, Alphatec Holdings, Inc., Quandary Medical LLC, Spine Frontier, Apollo Spine, Precision Spine, Premia Spine, K2M Group Holdings, Inc., Exactech Inc., Integra LifeSciences, SI-BONE, Reliance Medical Systems, AESCULAP, Zimmer Biomet Holdings, Inc., Globus Medical, Inc., NuVasive, Inc., Life Spine, Orthofix International N.V., SpineGuard, Spinal Solutions Inc., Spineart Geneva SA, Accel Spine, Captiva Spine Inc., Back 2 Basics Spine, RTI Surgical, Inc., Centinel Spine, NLT Spine, Paradigm Spine LLC, Ascendx Spine, Amedica Corporation, LDR Holding Corporation, Alliance Spine and othersLatest Industry NewsCoreLink has received FDA clearance for its new spinal implant.
According to Market Research Future's newest report on the global spinal implants, market reveals that the market is anticipated to grow at a CAGR of 5.5% during the forecast period of 2017 to 2023.
Used extensively to treat spinal deformities and other common spinal issues that may occur with age, the market is expected with witness moderate and consistent growth over the assessment period.Request sample Copy:https://www.marketresearchfuture.com/sample_request/2050Age-related wear and tear often result in spinal problems such as spinal stenosis.
The presence of a globally growing geriatric population is expected to drive the demand for spinal implants.
Urbanization has led to increasingly sedentary lifestyles which aggravate spinal problems, thus resulting in increasing diagnoses of chronic back pain; as such, the demand for spinal implants is expected to grow significantly.
Development of advanced technology and spinal implants which combined with the growing demand for minimally invasive spinal surgeries have resulted in cost-effective spinal implants are expected to increase demand for the same.Market SegmentationThe global spinal implants market has been segmented based on product, procedure, material, and region.
By product, the market is segmented into vertebral compression fracture (VCF) treatment devices, non-fusion devices/motion preservation devices, spinal fusion devices, spine biologics, spinal bone stimulators, and others.
