Global Spinal Implants
Market Report
2024
Spinal Implants market was valued at USD 806.8 Million in 2022 and is projected to reach USD 1,793.4 Million by 2030, registering a CAGR of 10.4 % for the forecast period 2023-2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The Global Spinal Implants market was valued at USD 806.8 Million in 2022 and is projected to reach USD 1,793.4 Million by 2030, registering a CAGR of 10.4 % for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Spinal Implants Market Sales Revenue 2022 | $ 806.8 Billion |
Global Spinal Implants Market Sales Revenue 2030 | $ 1 Billion |
Global Spinal Implants Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 10.4% |
Market Split by Product Type |
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Market Split by Technology |
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Market Split by Surgery Type |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Spinal Implants Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Spinal implants are devices surgeons use to cure deformities, strengthen and stabilize the spine, and promote fusion. Degenerative disc disease is one disease that can be treated with implants. The spinal implants are made of metals such as stainless steel or titanium and come in a variety of sizes depending on the treatment required. Hooks, cages, pedicles, screws, plates, and rods are also included. According to WHO, the global annual incidence of spinal cord injury(SCI) patients have a higher mortality risk because they die prematurely. The vast majority of traumatic SCIs are the result of work or sports-related injuries.
The increasing incidence of spinal disorders, such as degenerative disc disease and herniated discs, has augmented due to aging populations, sedentary lifestyles, and rising obesity rates, which is driving the demand for spinal implants. Future bioresorbable spinal implants are used in spine surgeries to treat different spine ailments. In specific spinal restoration procedures with improved and advanced fusion healing and image assessment properties, the use of bioabsorbable material is very important. The advanced technology in spinal implants such as the introduction of custom-fit and 3D-printed spinal implants is providing vendors with profitable growth. Whereas, opportunities through demand for innovative and advanced technology products with increased efficiency and high performance have led the market growth.
Rising awareness among patients about the availability of advanced treatment options for spinal disorders is leading to an increased demand for spinal implant procedures. The rising population suffering from spinal deformities caused due to road accidents, traffic crashes, and increasing in the geriatric population has led to an augmentation in demand for spinal implants. According to the statistics in Australia, approximately 15000 of its population is suffering from spinal cord injury where 46% of cases are of SCI and other traumatic cases.
Restraining Factor:
Spinal implant procedures can be expensive, involving the cost of implants, surgical procedures, hospital stays, and post-operative care. The high cost may limit access for patients with limited financial resources or those without inadequate insurance coverage. As it also involves the use of different techniques with highly qualified doctors. The high cost of spinal implants can also pose challenges for patients, healthcare providers, and healthcare systems in terms of affordability and accessibility. Efforts are being made to address these issues, such as cost reduction initiatives, increased competition, and advancements in technology that may lead to more affordable and accessible options in the future.
The spinal implant market is subject to rigorous regulations and approval processes by regulatory authorities such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA). These processes can be time-consuming and costly, potentially hindering the introduction of new spinal implant products.
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August 2021
Medtronic, DePuy Synthes, Stryker, NuVasive and Globus Medical . The DEXA-C, a new line of cervical cages for anterior cervical discectomy with fusion (ACDF) surgeries, has been cleared by the U.S. Food and Drug Administration(FDA). The company is a creator and manufacturer of cutting-edge medical devices that improve spine surgical outcomes. The DEXA technology developed by Aurora, which produces a series of implants with various densities to fit a patient's bone density and DEXA T-Score, has now received its first approval. The method should encourage faster bone growth and use better fixation by comparing and employing a product that fits a patient's bone density.
October 2020
Medtronic announced the launch of the Adaptix Interbody system, the first navigated titanium implant with Titan nanoLOCK. Adaptix Interbody System allows the best chance to meet patients' needs by confidently placing the implant under the navigation and trusting the Titan nanoLOCK Surface Technology to allow the implant to promote fusion. Surface technology, material type, and implant design all play a role in the bone growth process during fusion.
Impact of the COVID-19 Pandemic on the Spinal Implant Market:
The COVID-19 pandemic has impacted the spine implant and devices market to a great extent due to the decline in spine surgery across the globe. For instance, according to a study conducted in Central Europe, 90% of the participants observed a decline in patients with degenerative spinal diseases in outpatient clinics. Additionally, the research found that about 50% of the surgeons who contracted SARS-CoV2 postponed all elective and semi-elective surgeries. Decompression surgery or lumbar disc with minor symptoms was delayed by 36% of the doctors. Also changes in different policy and delay in clearance impacted badly on the spinal implant market.
Top Companies Market Share in Spinal Implants Industry: (In no particular order of Rank)
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By region, the spinal implant market is classified into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
North America held the largest revenue market share in 2022
Due to increased spinal cord injuries in the U.S., North America held the majority of the market in 2022 with a revenue share of 48.8%. Furthermore, prominent competitors have seen a significant gain in market revenue in the U.S. due to technical advancements and an increase in FDA approvals. For instance, the VIZE device from VUZE Medical, which is used to perform spine surgery, received approval from the U.S. Food and Drug Administration (FDA) in January 2022. Minimally invasive spine surgery is one of the medical techniques that VUZE Medical excels in visualizing and verifying. Furthermore, the demand for spinal implants in the nation has been significantly impacted by healthcare reimbursement.
Asia Pacific is expected to grow the fastest during the forecast period due to growing SCI cases in India and China. Furthermore, Japan has also contributed to the rapid development of its highly sophisticated spine-related procedures. The rising elderly population and increased traffic accidents are also significantly driving regional growth.
The current report Scope analyzes Spinal Implants Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global Spinal Implants Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Spinal Implants Industry growth. Spinal Implants market has been segmented with the help of its Product Type, Technology Surgery Type, and others. Spinal Implants market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Thoracic Fusion and Lumbar Fusion accounted for the largest share of the market
Based on the product, the spinal implant market can be segmented into thoracic fusion and lumbar fusion, cervical fusion, spine biologics, nonfusion devices, vertebral compression fracture treatment devices, spinal decompression devices, and spine bone stimulators. The thoracic fusion and lumbar fusion devices segment accounted for the largest share of the market in 2020 and is anticipated to retain its dominance in the coming years. Due to the increasing incidence of lumbar degenerative disc disease and growing technological advancements in the lumbar region.
Vertebral compression fracture treatment devices are expected to experience the fastest growth of 6.3% over the forecast period due to an increase in spine disorders and patients' preference for minimally invasive surgery. Furthermore, several key players seek approval from various regulatory bodies to expand their geographical presence. These geographical expansions are anticipated to fuel segment growth.
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Spinal fusion and Fixation technology accounted for the largest share of the market
Based on the technology, the market can be segmented into spinal fusion and fixation technologies, vertebral compression fracture treatment, and motion preservation technologies. The Spinal fusion and fixation technologies have accounted largest share due to their coverage of a broad range of surgical methods, including both posterior and anterior methods. Additionally, growing FDA approvals for spinal fusion and fixation systems aided segment growth. In August 2022, the FDA granted Surgaligns Cortera Spinal Fixation System clearance.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Spinal Implants market report 2024 Edition by contacting our team.
Open Surgery is mostly practiced
Based on surgery type, the market can be segmented into Open surgeries, Minimally Invasive Surgeries. Open spine surgery is still frequently done, despite a steady decline. which includes numerous adverse effects, including prolonged operating times and high levels of invasiveness, which cause most procedures to lose excessive amounts of blood and increase the risk of infection or harm to healthy tissue.
On the other hand, Minimally Invasive Surgery (MIS) is often preferred by both patients and doctors. Therfore, MIS is anticipated to experience the highest growth rate. Spine-related operations are carried out through tiny incisions by surgeons using cutting-edge equipment. MIS uses much smaller incisions than open surgery, which reduces the chance of muscle and soft tissue injuries. Moreover, MIS is computer-based guided by cutting-edge navigation systems, and ensures a higher degree of accuracy.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses
I played a pivotal role in conducting market research and competitive analysis. I have a demonstrated ability to synthesize diverse data sources, identify trends, and translate findings into actionable recommendations. My collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization. I am committed to maintaining excellence through continuous learning and staying ahead of industry trends. Regular participation in conferences and professional development opportunities keeps my skills sharp and relevant.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Spinal Implants Market is witnessing significant growth in the near future.
In 2023, the Thoracic Fusion segment accounted for noticeable share of global Spinal Implants Market and is projected to experience significant growth in the near future.
The Spinal Fusion segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies DePuy Synthes, Medtronic and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Product Type | Thoracic Fusion, Lumar Fusion Device |
Technology | Spinal Fusion, Fixation Motion Preservation, Vertebral Compression, Spinal Decompression |
Surgery Type | Open Surgeries, Minimally Invasive Surgeries |
List of Competitors | DePuy Synthes, Stryker Corporation, Medtronic, NuVasive, Zimmer Biomet Holdings, Accel Spine, Aesculap, Globus Medical, Alphatec Holdings, Orthofix International, Amedica, Apollo Spine, K2M Group Holdings, RTI Surgical, Centinel Spine |
This chapter will help you gain GLOBAL Market Analysis of Spinal Implants. Further deep in this chapter, you will be able to review Global Spinal Implants Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Spinal Implants Market Trends North America Spinal Implants Technological Road Map North America Spinal Implants Market Drivers North America Spinal Implants Market Restraints North America Spinal Implants Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Type Analysis 2019 -2031, will provide market size split by Product Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Type Analysis 2019 -2031
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Chapter 11 Market Split by Technology Analysis 2019 -2031
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Chapter 12 Market Split by Surgery Type Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Spinal Implants market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Thoracic Fusion have a significant impact on Spinal Implants market? |
What are the key factors affecting the Thoracic Fusion and Lumar Fusion Device of Spinal Implants Market? |
What is the CAGR/Growth Rate of Spinal Fusion during the forecast period? |
By type, which segment accounted for largest share of the global Spinal Implants Market? |
Which region is expected to dominate the global Spinal Implants Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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