Global Spinal Implants and Devices Market

Spinal Implants and Devices Market Size, Share, Growth Analysis, By Product Type(Spinal fusion devices, spinal biologics, vertebral compression fracture treatment devices, non-fusion devices), By Technology(Fixation technologies, vertebral compression fracture treatment, and motion preservation technologies), By Surgery type(Open surgery and MIS Gravel), By Procedure type(Discectomy, laminectomy, foraminotomy, corpectomy), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35G2087 | Region: Global | Published Date: July, 2024
Pages: 244 | Tables: 119 | Figures: 77

Spinal Implants and Devices Market Insights

Global Spinal Implants and Devices Market size was valued at USD 18.08 billion in 2022 and is poised to grow from USD 19.08 billion in 2023 to USD 29.28 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

Spinal implants are surgical tools that surgeons employ to correct deformities, strengthen and stabilise the spine, and promote fusion. Scoliosis, kyphosis, spondylolisthesis, degenerative disc disease, and fracture are among the conditions that can be addressed by spinal implants.

The increase in spinal cord injuries (SCIs) worldwide is responsible for the market expansion. According to data from the WHO, between 250,000 and 500,000 new cases of SCI are reported worldwide each year. WHO estimates that there are 40 to 80 cases of SCI per million people worldwide each year. Patients with SCI are more at risk since they have a 2 to 5 times higher probability of dying before their time than individuals without spinal implants. These factors will drive the demand for spinal implants and devices market.

US Spinal Implants And Devices Market is poised to grow at a sustainable CAGR for the next forecast year.

Spinal Implants and Devices Market Report Snapshots

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Major players are engaging in a variety of strategic measures to increase their market shares, including mergers and acquisitions, technology partnerships, collaborations, and the creation and introduction of cutting-edge products. The Cohere TLIF-O implant was introduced by NuVasive in October 2021, and the company also hinted at the arrival of the Cohere TLIF-A implant for posterior spine surgery. 'Medtronic', 'DePuy Synthes Companies', 'Stryker Corporation', 'NuVasive Inc.', 'Zimmer Biomet Holdings, Inc.', 'Globus Medical, Inc.', 'Alphatec Holdings, Inc.', 'B. Braun Melsungen AG', 'Orthofix Medical Inc.', 'RTI Surgical Holdings, Inc.', 'K2M Group Holdings, Inc.', 'Aesculap Implant Systems, LLC', 'Paradigm Spine, LLC', 'Life Spine, Inc.', 'Spinal Elements, Inc.', 'AxioMed LLC', 'Joimax GmbH', 'Spine Wave, Inc.', 'Interventional Spine, Inc.', 'Amedica Corporation'

The increased prevalence of spine disorders worldwide has also led to a marked increase in the number of spinal procedures, which will raise demand for spinal devices. The need for spinal devices is thus increased as a result. Surgery on the spine is typically done to address degenerative disc disease and fix birth defects. Moreover, the market is anticipated to rise throughout the forecast period due to the rising number of spinal fracture patients. The market is expected to be further stimulated during the forecast period by factors such as the gradual shift and rising demand for minimally invasive spinal surgeries, the quick adoption of biologics in spinal fusion, and a significant increase in the number of cervical and lumbar disc replacement surgeries.

It is projected that the market landscape will be dominated by demand for robotic fusion techniques and minimally invasive fusion devices. The ageing of the population, an increase in spinal injuries, the need to simplify complicated spinal procedures, technical improvements, an increase in research, etc., are all contributing factors to the growth of the spine devices sector. As research has demonstrated the usefulness of spinal cord stimulators, many specialists are likely to recommend them.

The highest CAGR is anticipated for the Asia-Pacific region during the forecast period. The Asia Pacific market is anticipated to expand at the greatest CAGR over the projected period, largely because of the region's expanding insurance coverage, increased awareness, and improved reimbursement conditions. The technologically improved spine surgeries used in Japan have also aided in the rapid expansion. The regional expansion is also being heavily fueled by the rising number of vehicle accidents and the aging population. The market for spinal implants is dominated by North America because there are many products available there and a lot of people use them.

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Spinal Implants and Devices Market Insights

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