The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s spine implants market report forecasts the spine implants market size to grow to $16.86 Billion by 2027, with a CAGR (compound annual growth rate) of more than 8%.

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Spine Implants Market Size Forecast

The global spine implants market is expected to grow from $11.32 billion in 2022 to $12.33 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. 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, causing inflation across goods and services and affecting many markets across the globe. The spine implants market is expected to grow from $16.86 billion in 2027 at a CAGR of 8.1%.

North America held the largest spine implants market share.

Key Spine Implants Market Driver ­– Rise In The Incidence Of Spinal Disorders

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%. 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.

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Key Spine Implants Market Trend – Innovating Implants

The innovation of implants in providing minimally invasive and motion-preserving stabilization is a major trend in the spine implants market. For example, RTI Surgical Holdings, a global surgical implant company, has launched the first and only posterior lumbar motion preservation solution, Coflex. Coflex is a differentiated, minimally-invasive, motion-preserving stabilization implant that is FDA PMA-approved for the treatment of moderate to severe lumbar spinal stenosis (LSS). It can be directly implanted following a surgical decompression, without fusing the bones. The device comes in different sizes to fit the patient’s anatomy, and this can be performed even in an outpatient setting.

Spine Implants Market Segment

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

Spine Implants Market Major Players and Strategies

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.

In July 2022, Spineway, a France-based spinal implants manufacturer acquired Spine Innovations for an undisclosed amount. The acquisition would help Spineway to accelerate its innovation and growth and position itself as a leader in this segment. Spinal Innovations is a French manufacturer of spinal implants.

The Spine Implants Global Market Report 2023 covers regional data on spine implants market size, spine implants market trends and drivers, opportunities, strategies, and spine implants market competitor analysis. 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, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Spine implants are the devices used to correct the deformity in the spine, stabilise 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.

View More Reports Related To The Spine Implants Market –
Spinal Imaging Global Market Report 2023
Spinal Surgery Devices And Equipment Global Market Report 2023
Refractive Surgery Devices And Equipment Global Market Report 2023

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