Spinal Implant and Devices Market by Type (Spinal Fusion Implants, Spinal Bone Stimulators, Vertebral Compression Fracture (VCF) Devices, Motion Preservation Devices, and Spine Biologics) and Surgery (Open Spine Surgery and Minimally Invasive Spine Surgery): Global Opportunity Analysis and Industry Forecast 2020–2027
The global spinal implants and devices market was valued at $11,356.59 million in 2019 and is projected to reach $15,054.07 million by 2027 at a CAGR of 5.7% from 2020 to 2027.
Spine-related disorders and deformities are treated using spinal implants and devices. Disorders such as spinal stenosis and lumbar degenerative spondylolisthesis are caused from degeneration of intervertebral disc, deformity, tumors, and trauma. In addition, implant systems utilize specially designed spinal instrumentation such as plates, rods, and screws, which help to facilitate fusion, correct deformities, and stabilize and strengthen the spine. Most spinal implants are made of metals such as titanium and are available in different shapes and sizes to be used in patients of all ages.
The market is driven by shift toward minimally invasive spine procedure. Growth in elderly population and rise in incidences of spinal disorders attributed to sedentary lifestyle is expected to drive the market growth. In addition, advancements in spine surgeries and new product launches further fuel the market. However, stringent regulatory approval procedures, present pandemic situation and unfavorable reimbursement scenario are expected to hamper growth of the spinal implant and devices market. Moreover, emerging markets are expected to drive demand for spinal implants and devices and advancements in augmented and virtual reality, endoscopic surgery and 3D printed implants for minimally invasive surgery are also expected to fuel the market growth.
The report segments the spinal implants and devices market on the basis of type, surgery, and region. According to the product type, it is segmented into spinal fusion implants, motion preservation devices, vertebral compression fracture (VCF) devices, spine bone stimulators and spine biologics. By surgery type, it is bifurcated into open spine surgery and minimally invasive spine surgery. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Over the past few years, key players have adopted product development such as product launches, approvals, and clinical trials as their key strategies. For instance, in September 2019, J&J launched a 3D Printed Implant Portfolio (CONDUIT Interbody Platform with EIT Cellular Titanium Technology) for spine surgery to expand comprehensive offering to treat degenerative spine disease. Moreover, in February 2019, Orthofix received US Food and Drug Administration (FDA) approval for M6-C artificial cervical disc (Orthofix Medical) for patients suffering from cervical disc degeneration. This artificial disc was developed by Spinal Kinetics.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global spinal implants and devices market with current trends and future estimations from 2019 to 2027 to elucidate the imminent investment pockets.
Comprehensive analysis of factors that drive and restrict the market growth is provided.
Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global & regional scale are provided.
Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the market.
Key Market Segments
Spinal Fusion Implants
Anterior Lumbar Plates
Wires & Cables
Cervical Fixation Devices
Anterior Cervical Plates
Hook Fixation Systems
Plates & Screws
Interbody Fusion Devices
Non-Bone Interbody Fusion Devices
Bone Interbody Fusion Devices
Vertebral Compression Fracture (VCF) Devices
Balloon Kyphoplasty Devices
Motion Preservation Devices
Dynamic Stabilization Devices
Interspinous Process Spacers
Pedicle Screw-Based Systems
Facet Replacement Products
Artificial Cervical Discs
Artificial Lumbar Discs
Annulus Repair Devices
Nuclear Disc Prostheses
Spine bone stimulators
Non-Invasive Spine Bone Stimulators
Pulsed Electromagnetic Field Device
Capacitive Coupling (CC) and Combined (Electro) Magnetic Field (CMF) Devices
Invasive Spine Bone Stimulators
Machined Bones Allograft
Demineralized Bone Matrix
Bone Graft Substitutes
Bone Morphogenetic Proteins
Synthetic Bone Grafts
Open Spine Surgery
Minimally Invasive Spine Surgery
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
List of key players profiled in the report
Alphatec Holdings, Inc.
B. Braun Melsungen AG
Johnson & Johnson (DePuy Synthes)
Globus Medical, Inc.
Orthofix International N.V.
Zimmer Biomet Holdings, Inc.
List of the other key players (not included in the report) includes Aesculap Implant Systems, Aspen Medical Products, Amedica Corp., Camber Spine Technologies, Paragon Medical, Inc., Norman Noble, Inc., Nutech, Titan Spine, Wenzel Spine, Inc., X-spine Systems, Inc., Tecomet, Inc., Marox Corporation, Axial Medical, Spine Wave, Inc., K2M, Inc., and Captiva Spine, LLC.
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