Spine implants are the devices used to correct the deformity in the spine, stabilize and strengthen the spine, and facilitate the fusion of bones in different disorders such as degenerative disc disease, kyphosis, scoliosis, spondylolisthesis, spinal stenosis, and fracture.
Sizing and Forecast
The spine implants market size has grown strongly in recent years. It will grow from $11.54 billion in 2023 to $12.23 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to rising incidences of spinal disorders, growth in the number of healthcare facilities, growing demand for spine surgeries in emerging markets, rapid growth in elderly population, launch of advanced bone grafting products, and increasing adoption of minimally invasive spine surgeries.
The spine implants market size is expected to see strong growth in the next few years. It will grow to $15.17 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to advancements in spine surgery technologies, increasing elderly population, changes in lifestyles, faster economic growth and increasing reimbursement for spine implants. Major trends in the forecast period include adopting nanosurface technology to development of novel bioceramic materials, focusing on development of smart metals, developing novel motion preservation devices for spine implants, investing in 3d printing technologies, offering patient specific instrumentation and adaptive spine technology (ast), focusing on minimally invasive spinal surgery and novel endoscopic spinal surgery..
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Segmentation & Regional Insights
The spine implants market covered in this report is segmented –
1) By Product: Spinal Fusion Devices, Non-Fusion Devices/Motion Preservation Devices, Vertebral Compression Fracture (VCF) Treatment Devices, Spinal Bone Stimulators And Spine Biologics
2) By Procedure: Open Surgery, Minimally Invasive Surgery (MIS)
3) By Material: Metallic, Polymeric, Ceramic
4) By End User: Hospitals, Specialty Orthopedic And Spine Centers, Ambulatory Surgical Centers
North America was the largest region in the spine implants market in 2023. Western Europe was the second largest region in the spine implants market report. The regions covered in the spine implants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising incidences of spinal disorders are contributing to the growth of the global spine implants market. According to Branko PRPA, surgical in September 2021, annually there are 1.34 to 4.6 spinal cases per million and 1,400 new cases diagnosed each year, with 33,000 having some type of disability in the US and among them, 30% of the adult female population suffers from lower back pain, compared to 25 percent of the adult male adult population and this is approximately 31% of men acknowledged that their condition affects their employment compared to 20% of women. In 2021, the prevalence of neuropathic pain was found to be between 16% and 55%. Therefore, the increased prevalence of spinal disorders along with the ease in treatment by MISS approaches is driving the global spinal implants market.
Key Industry Players
Major companies operating in the spine implants market report are Medtronic plc, Johnson & Johnson, Stryker Corporation, NuVasive, Inc., Zimmer Biomet Holdings, Inc., Orthofix Medical Inc., SeaSpine Holdings Corporation, Narang Medical Limited, Atlas Surgical, Auxein Medical and Sharma Spine Medical Pvt. Ltd, Teijin Nakashima Medical Co, Seikagaku Corporation, Anatomics, New Zealand Spine (NZOA), Tianjin Walkman Biomaterials, Sunan Zimede Medical Instruments Co., Ltd, Smith & Nephew, aap Implantate AG, Orthopaedic & Spine Development (OSD), Waldemar Link GmbH & Co. KG, Amplitude SAS, Corin Group PLC, Precision Medical Technologies (Poland), Baltic Implants, Aequos Endoprothetik GmbH, Beznoska Company Ltd, SpineGuard, Integra Life Sciences, B. Braun Melsungen AG, Benvenue Medical, DePuy Synthes, Globus Medical, Inc., Aesculap, Inc., Alphatec Spine, Neoortho, NOVAX DMA, Spine Argentina, SAI (South America Implants), Shaarani Group, Babil Medical Equipment, Southern Medical (Pty) Ltd, SASpine, EliteSurgical, TiTaMED, GE Healthcare.
The spine implants market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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