Spinal implants market is expected to reach USD 12.78 billion by 2032, growing at a CAGR of 5.1% from 2022 to 2032

VANCOUVER, BRITISH COLUMBIA, CANADA, June 28, 2024 /EINPresswire.com/ -- The global spinal implants market is expected to reach USD 12.78 billion by 2032, growing at a CAGR of 5.1% from 2022 to 2032, according to a report by Emergen Research. This press release delves into the key trends, drivers, restraints, and growth opportunities shaping the spinal implants market landscape.

Market Overview

The spinal implants market encompasses a wide range of devices used to treat spinal disorders like degenerative disc disease, spinal stenosis, and fractures. These implants provide support, stability, and improved function to the spine. With a rising geriatric population and increasing awareness of spinal health, the demand for these implants is anticipated to grow steadily in the coming years.

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Key Trends Shaping the Market

Shift Towards Minimally Invasive Surgeries (MIS): Minimally invasive surgical techniques are gaining traction due to their advantages like reduced blood loss, faster recovery times, and less post-operative pain. This trend is driving the demand for specialized spinal implants designed for MIS procedures.

Advancements in Biologics: Biologics, which are natural materials that promote bone growth and fusion, are increasingly being integrated with spinal implants to enhance their effectiveness. This integration offers a more natural approach to spinal repair.

Focus on Motion-Preserving Technologies: Motion-preserving implants allow for greater flexibility and mobility compared to traditional fusion implants. This focus caters to the growing patient preference for maintaining spinal motion whenever possible.

Drivers of Market Growth

Rising Prevalence of Spinal Disorders: The global aging population is a significant driver, as age-related spinal conditions like degenerative disc disease become more prevalent.

Increasing Healthcare Expenditure: Growing healthcare budgets, particularly in emerging economies, are leading to greater accessibility and adoption of advanced spinal implant technologies.

Technological Advancements: Continuous advancements in materials science, design, and surgical techniques are leading to the development of more effective and patient-centric spinal implants.

Restraints to Market Growth

Stringent Regulatory Requirements: Strict regulatory frameworks governing the approval and marketing of spinal implants can hinder market growth, particularly for innovative technologies.

High Cost of Procedures: Spinal implant surgeries can be expensive, limiting patient access in cost-constrained healthcare systems.

Reimbursement Challenges: Reimbursement policies for spinal implants can vary significantly across regions, impacting hospitals' and surgeons' adoption rates.

Growth Opportunities

Emerging Markets: Developing economies in Asia Pacific and Latin America present significant growth prospects due to their large and underserved patient populations and rising disposable incomes.

Focus on Value-Based Care: The growing emphasis on value-based healthcare models that prioritize patient outcomes is creating opportunities for cost-effective and innovative spinal implants.

Technological Convergence: The convergence of robotics, artificial intelligence, and 3D printing with spinal implants has the potential to revolutionize surgical procedures and patient care.

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SWOT Analysis

Strengths:

Wide range of effective spinal implant solutions

Growing adoption of minimally invasive surgeries

Advancements in biologics and motion-preserving technologies

Weaknesses:

High cost of spinal implant procedures

Stringent regulatory requirements

Reimbursement challenges

Opportunities:

Rising demand in emerging markets

Focus on value-based care

Technological advancements in robotics, AI, and 3D printing

Threats:

Product recalls due to safety concerns

Increasing competition from generic implant manufacturers

Potential economic downturns impacting healthcare spending

Latest Strategic Developments

In November 2020, Medtronic purchased Medicrea, a French startup that was at the forefront of Artificial Intelligence (AI) and predictive modelling revolution in spinal surgery.

In November 2020, Deputy Synthes, a U.S. subsidiary of Johnson & Johnson Services, Inc., introduced Symphony Occipito-Cervico-Thoracic (OCT) System to treat patients with severe cervical spine problems.

Spinal Implants Top Companies and Competitive Landscape

The global spinal implants market is fragmented with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective spinal implants treatment in the market.

Some major players included in the global spinal implants market report are:

Globus Medical

Abbott

Orthofix US LLC,

Braun SE

Zimmer Biomet

Medtronic

Boston Scientific Corporation

Stryker

Exactech, Inc.

Nuvasive, Inc.

Integra LifeSciences

RTI Surgical Holdings

ATEC Spine, Inc.

Ulrich GmbH & Co. KG

SeaSpine

Spinal Implants Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global spinal implants market on the basis of product, technology, type of surgery, and region:

Product Outlook (Revenue, USD Billion; 2019-2032)

Thoracic Fusion and Lumbar Fusion Devices

Posterior Thoracic Fusion and Lumbar Fusion Devices

Interbody Thoracic Fusion and Lumbar Fusion Devices

Anterior Thoracic Fusion and Lumbar Fusion Devices

Cervical Fusion Devices

Anterior Cervical Fusion Devices

Anterior Cervical Plates

Cervical Interbody Fusion Devices

Anterior Cervical Screw Systems

Posterior Cervical Fusion Devices

Posterior Cervical Plates

Posterior Cervical Screws

Posterior Cervical Rods

Spine Biologics

Demineralized Bone Matrix

Bone Morphogenetic Proteins

Bone Substitutes

Machined Bones

Cell-based Matrices

Allograft Bone

Vertebral Compression Fractures (VCF) Treatment Devices

Balloon Kyphoplasty Devices

Vertebroplasty Devices

Spinal Decompression Devices

Discectomy

Laminoplasty, Laminectomy, and Laminotomy

Foraminotomy and Foraminectomy

Facetectomy

Corpectomy

Non-fusion Devices

Dynamic Stabilization Devices

Interspinous Process Spacers

Pedicle Screw-based Dynamic Rod Devices

Facet Replacement Products

Artificial Discs

Artificial Cervical Discs

Nuclear Disc Prostheses

Annulus Repair Devices

Nuclear Disc Prostheses

Spine Bone Stimulators

Noninvasive Spine Bone Stimulators

Pulsed Electromagnetic Field Devices

Capacitive Coupling (CC) and Craniomaxillofacial (CMF) Devices

Invasive Spine Bone Stimulators

Technology Outlook (Revenue, USD Billion; 2019-2032)

Spinal Fusion and Fixation.

Motion Preservation/Non-fusion

Vertebral Compression Fracture Treatment

Spinal Decompression

Type of Surgery Outlook (Revenue, USD Billion; 2019-2032)

Open Surgeries

Minimally Invasive Surgeries

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Country scope:

U.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, and Rest of MEA

Eric Lee
Emergen Research
+91 90210 91709
sales@emergenresearch.com
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