Spinal Implants Market Size, Share, Growth Analysis, Regional Trends and Opportunity Assessment for the Period of 2022-2027
Market Overview
Spinal implants market 2020 can expect growth at a decent rate of approximately 5.5% from 2017 to 2023 (assessment period), suggests Market Research Future (MRFR). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak. Spinal implants offer easy fusion and better stability of spine by strengthen it. The increase in cases of spinal level deformities and the need for cure is boosting the adoption of high value spinal implants. This is expected to support expansion of the global spinal implants through the analysis period. In addition, the increase in need to treat disorders, such as; kyphosis, scoliosis, spondylolisthesis, and fracture can boost the need to fuse two vertebrae together and replace with natural disc material that can generate need for flexible spinal implants market.
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Key Players:
Paradigm Spine LLC, Abbott Spine, Inc., Medtronic plc., Raymedica, Stryker Corporation, K2M Group Holdings, Zimmer Biomet Holdings, Inc., Alphatec Holdings, Inc., B. Braun Melsungen AG, Orthofix International N.V., and NuVasive, Inc., among others are some potential flexible spinal implants market that are recognized by MRFR.
Key Growth Boosters and Challenges
Escalating cases of spinal disorders in the face of rising prevalence of sedentary lifestyle and the mounting preference for minimally invasive surgical procedures contribute significantly to the spinal implants market. Global Spine Journal’s article in 2018 said that the global population affected by spinal disorders includes 3.63% low back pain (LBP) and lumbar degenerative spine disease (DSD) together, 5.5% symptomatic disc degeneration, 1.41% spinal stenosis and 0.53% spondylolisthesis. Although implants help facilitate fusion, they need to be removed from the body after a year. To deal with this, researchers are focusing on developing bio absorbable implants.
Constant developments in non-invasive spine surgical approaches have made it feasible and much more effective in the treatment of various types of spinal disorders, preventing long incisions. These approaches also help avoid substantial damage to the muscles that surround the spine, thereby causing lesser pain post operation as well as quicker recovery. Therefore, the provision of easier treatment has bolstered the demand for minimally invasive surgical approaches and has been favorable for the spinal implants market. Emerging markets such as Asia Pacific are projected to foster the demand for spinal implants, while the rising adoption of virtual and augmented reality, 3D printed implants and endoscopic surgery in the region could also be a lucrative opportunity for the top market contenders.
Segmental Analysis
Spinal implants industry can be considered for product, procedure, and material.
The key products are non-fusion devices/motion preservation devices, spinal fusion devices, spine biologics, spinal bone stimulators, Vertebral Compression Fracture (VCF) treatment devices, and others.
Some of the top procedures studied in the MRFR report include Minimally Invasive Surgery (MIS), open surgery, and others.
Materials that have been analyzed in the report are titanium-alloy, titanium, plastic, stainless steel, and others.
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Regional Analysis
Spinal implants market can be regionally split into Europe, Asia Pacific/APAC, Middle East and Africa/MEA as well as America.
America remains the top performer in the global market for spinal implants, primarily due to the frequent technological advancements, innovations in manufacturing processes, and the emerging trend of nanotechnology in the pharmaceutical industry. High uptake of various advanced implants in surgeries, rapidly growing elderly populace, and the surging prevalence of spinal stenosis in the region also bolster the expansion rate. Significant healthcare spending helps foster the sales of highly innovative spinal implants in the region, particularly in Canada and the United States.
APAC is one of the fastest emerging markets for spinal implants, in view of the escalating obesity cases and the expanding budgets allocated for healthcare development. Many of the developing countries in the region consist of a huge patient pool, while the governments are increasingly funding R&D activities that aim to come up with more advanced implants. Rising knowledge about the novel spine treatment methods and surge in technical advances to produce cost-effective devices also provide an attractive opportunity.
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Published Tue, 08 Mar 2022 04:59:35 -0600
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