The size of the Europe Spinal Implants Market was valued at USD 3145.47 Million in 2022 and is likely to grow at a CAGR of 5.73% to reach USD 4156.01 Million by 2027.
Spinal implants are devices that help combine and increase the strength of the spine and treat spinal level deformities. Scoliosis, spondylolisthesis, kyphosis, and crack are all conditions that spinal implants can treat. Its primary function is to assist in fusing two vertebrae and replacing normal circular material.
Patients who have not reached skeletal development, such as children, are given development-saving devices. Inserts are made from various materials, including titanium, titanium alloys, treated steel, and polymers. Rods, pedicle screws, hooks, plates, cages, and other spinal implants are divided into numerous categories.
The growing prevalence of spinal issues, combined with less invasive operations, is fueling the growth of the spinal implants market in the European region. Furthermore, because of the rising demand for MI spine surgeries, the increased availability of innovative spine implants is due to the escalation within the approval process. Therefore the emergence of custom fit and 3D printed spine implants, the European spinal implants market is expected to grow at a healthy growth rate during the forecast period.
Research and development proposals for spinal therapies, changes in healthcare infrastructure, and government expenditures for research and development of revolutionary spine treatment equipment are further driving growth in the European spinal implants market during the forecast period.
Complicated and demanding reimbursement systems and regulatory frameworks and the high cost of the treatment procedures are only a few of the market growth obstacles. In addition, patients' lack of understanding of newly developed spine treatment treatments, a lack of proper medical education, and government cost-cutting initiatives all contribute to the market's slow growth.
This research report on the European spinal implants market has been segmented and sub-segmented into the following categories:
In terms of market share, the European spinal implants market accounted for the third-largest share in the global market in 2020 and is primarily driven by the aging population and advancements in spinal surgery. In addition, the European Union has launched research into bone grafting goods, expanding the European market for spinal implants. The market's expansion is fueled by increased expenditure for research and development operations in preparation for new product approval.
The German spinal implants market had the largest revenue in 2020 in the European market. The school and institute launch a campaign to raise spinal implant awareness among new orthopedic doctors.
The United Kingdom spinal implants market is expected to grow at a healthy rate during the forecast period. The United Kingdom spinal implants market is growing because of a growing senior population, spinal injuries, road accidents, and desire for intrusive products. In addition, the availability of lumbar spine implant supplies in the United Kingdom will aid market expansion.
The elderly population in Italy is very large, necessitating a growing number of new and effective treatment procedures for spinal problems, driving the expansion of the Italian spinal implants market. Furthermore, Italy’s high prevalence of fusion cage implants will drive demand in the approaching years.
KEY MARKET PLAYERS:
Medtronic, plc (Ireland), DePuy Synthes (U.S.), Stryker Corporation (U.S.), NuVasive, Inc. (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Globus Medical, Inc. (U.S.), Alphatec Holdings, Inc. (U.S.), Orthofix International N.V. (Netherlands), K2M Group Holdings, Inc. (U.S.), and RTI Surgical, Inc. (U.S.) are some of the prominent companies operating in the Europe spinal implants market. To increase their individual market share, some of the leading players in the market are focusing on product developments, expansions, discovering new markets, or developing their core expertise.
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