Global Spine Implants Market 2022 – Market Opportunities And Strategies
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The spine implants market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 8%, as per The Business Research Company’s market report!
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The Spine Implants Market Size In 2022 And Forecast
The global spine implants market is expected to grow from $10.50 billion in 2021 to $11.32 billion in 2022 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The spine implants market is expected to grow to $15.77 billion in 2026 at a CAGR of 8.6%.
The market for spine implants consists of sales of inserts used in spinal surgery. Spine implants are the devices used to correct the deformity in the spine, stabilize and strengthen the spine and facilitate fusion of bones in different disorders.
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Increased Prevalence Of Spinal Disorders Is Driving The Growth Of The 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 2019, 30% of the US population suffered from lower back problems in the last three months. And due to the emergence of minimally invasive spine surgical (MISS) approaches, it has now become feasible and efficient for treating a wide range of spinal disorders without long incisions and by avoiding significant damage to muscles surrounding the spine, thereby resulting in fewer post-operative pains and faster recovery. Therefore, the increased prevalence of spinal disorders along with the ease in treatment by MISS approaches is driving the global spinal implants market.
Competitive Landscape And The Regional Analysis Of The Spine Implants Market
Major players in the spine implants market are Medtronic, Depuy Synthes, Johnson & Johnson, Stryker Corporation, NuVasive, Inc., Zimmer Biomet Holdings, Globus Medical, Alphatec Holdings, Orthofix International, and RTI Surgical.
The Spine Implants Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the spine implants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the spine implants market.
Innovation Of Implants – A Key Trend In The Spine Implants Market
The innovation of implants in providing minimally invasive and motion-preserving stabilization is a major trend in the spine implants market.
Spine Implants Market Segmentation By The Business Research Company
1) By Product: Spinal Fusion Devices, Non-Fusion Devices/Motion Preservation Devices, Vertebral Compression Fracture (VCF) Treatment Devices, Spinal Bone Stimulators, Spine Biologics
2) By Procedure: Open Surgery, Minimally Invasive Surgery (MIS)
3) By Material: Metallic, Polymeric, Ceramic
4) By End Use: Hospitals, Specialty Orthopedic And Spine Centers, Ambulatory Surgical Centers
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