Global Spinal Implants & Devices Market is valued at approximately USD 12 Million in 2021 and is anticipated to grow with a healthy growth rate of more than 5% over the forecast period 2022-2028. The increased prevalence of spinal cord injuries (SCIs) around the world is driving market expansion. Damage to the exterior of the spinal cord is caused by compression or injury to the cord.
This compression is caused by deterioration of the spine, bone fractures, or anomalies such as a hematoma or a herniated disc. According to WHO data, between 250,000 and 500,000 SCI cases occur worldwide each year. The majority of SCIs occur as a result of preventable events such as falls, traffic accidents, and assault. According to the World Health Organization, the global incidence of SCI is estimated to be 40-80 cases per million each year.
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The market is likely to be driven by rising spinal deformity rates, rising demand for minimally invasive treatments, and a growing worldwide geriatric population. Spondylolisthesis, traumatic fractures, chronic degenerative disc degeneration, scoliosis, and other spinal instability problems are treated with spinal operations. The rising expense of spinal implants and procedures is a major source of concern around the world, and this factor has been noted as putting a significant strain on emerging and low-income economies.
As a result, over the forecast period, the launch of novel bone growth stimulators and the growing use of less-expensive Minimally-Invasive Operations (MIS) surgeries are likely to accelerate the use of spinal implants and devices. Furthermore, with the advancement of favourable government programmes and the increasing number of investments made by various private firms, R&D activities connected to new product creation and novel treatment approaches are gaining traction. For instance, the American Academy of Orthopedic Surgeons and the North American Spine Foundation, for example, both contribute to the expansion of the spinal implants and devices market through research and development funding and physician training programmes around the world.
The key regions considered for the global Spinal Implants & Devices market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Due to an increase in the number of SCIs in the United States, North America led the market. Technological developments have also resulted in strong growth in the US market, which is helping to drive regional market expansion. The demand for spinal implants in the United States has been fueled by healthcare reimbursement. In the United States, key players have also garnered significant market revenue. Asia Pacific is predicted to be the most profitable market because of increased patient awareness, increased healthcare expenditure, and improved healthcare facilities in the growing economies of India and China.
Major market players included in this report are:
Medtronic
Johnson & Johnson
Stryker
NuVasive
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Zimmer Biomet
Globus Medical, Inc.
Alphatec Spine, Inc.
Orthofix Holdings, Inc.
RTI Surgical Holdings
ulrich GmbH & Co. KG
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Spinal Fusion Devices
Spinal Biologics
Vertebral Compression Fracture Treatment Devices
Non-fusion Devices
Spinal Bone Growth Stimulators
By Technology:
Spinal Fusion And Fixation Technologies
Vertebral Compression Fracture Treatment
Motion Preservation Technologies
By Surgery Type:
Open Surgery
Minimally Invasive Surgery
By Procedure Type:
Discectomy
Laminotomy
Foraminotomy
Corpectomy
Facetectomy
By Region:
North America
U.S.
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Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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