The global spinal implants market size is expected to grow at a CAGR of 5.34% to reach USD 19,244 Million by 2025 from USD 14,774 Million in 2020.
Most surgeries are not needed in spinal conditions/disorders; however, there are times when they cannot be avoided. When that happens, these deformities are corrected using specially designed spinal instruments that strengthen and stabilize the spine and facilitate fusion. Stainless steel or titanium-alloy are generally used to make spinal implants. Sometimes non-metallic compounds are also used.
MARKET DRIVERS:
Augmenting the geriatric and obese population, technological advancements in spine surgery devices, rising incidence and prevalence of spinal disorders, and growing demand for minimally invasive spine surgery are the primary factors driving the growth of the global spinal implants market. According to the National Centre for Health Statistics, every 1 in 4 suffer from chronic low back pain. The flourishing cases of lower back pain end in sciatica or wear and tear conditions leading to conditions affecting the spine.
The global spinal implants market is likely to expand further during the forecast period due to the factors such as increasing demand for MI spine surgeries, availability of innovative spine implants due to the escalation in the approval process, and the emergence of custom fit and 3D printed spine implants. Increased focus on novel product developments to achieve maximum efficiency and high performance, rapidly growing adoption rate of robotic-assisted surgeries are the factors that are expected to boost growth opportunities for the spine implants market during the forecast period. The research and development proposals for spinal treatments, advancements in healthcare infrastructure, and government funds for research and development of new spine treatment devices accumulate the market growth.
MARKET RESTRAINTS:
Cumbersome and stringent processes and regulatory frameworks in developed countries for product approval, uncertainty in reimbursement, and the high cost of treatment procedures are a few of the inhibitors' market growth. Further, secondary factors like lack of patient awareness about the newly developed spine treatment procedures and the scarcity of adequate physician education and government cost-containment measures contribute to restraining the market growth.
Impact of COVID-19 on the global spinal implants market:
From the beginning of the novel coronavirus (COVID 19) pandemic global health crisis, a remarkable change has had marked the field of spine surgery. A considerable disruption has been created in the spinal surgery industry. Several changes were supported in a conventional way to save the ones who are at risk. Almost all the spine implants are considered elective, and the postponement of all elective surgeries.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2019 to 2025 |
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Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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Segments Analysed |
By Technology, Product, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Analysed |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Companies Analysed |
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.). |
This research report on the global spinal implants market has been segmented and sub-segmented based on the product, technology, and region.
Spinal Implants Market - By Technology:
Based on technology, the motion preservation/non-fusion segment is dominating the spinal implants market. It is likely to expand further at the highest CAGR during the forecast period owing to contributing factors such as the emergence of advanced non-fusion devices due to technological innovations.
Spinal Implants Market - By Product:
Based on product type, the thoracic fusion and lumbar fusion device segments contributed a significant share to the global spinal implants and is likely to grow further during the forecast period owing to the factors such as the increasing demand for minimally invasive spine procedures, technological improvements, rising occurrences of spine degenerative diseases.
Spinal Implants Market - By Surgery Type:
Spinal Implants Market - By Region:
Geographically, the North American spinal implants market is currently dominating the global market, accounting for a market share of 40% in 2019. The market size of the North American spinal implants was worth USD 7376 million in 2020. Due to the rising number of spinal surgeries, technology innovation, and numerous pharmaceuticals and biotechnology companies' ascendancy, the region's growth is due to the rising number of spinal surgeries. The United States is projected to rank as a top securing market in North America during the forecast period. The high incidences of road accidents and the launch of 3D-printed spinal implants positively influence market growth. The growing number of clinical trials performed on spinal implant procedures estimated to accelerate market growth. The Canadian spinal implants market growth is expected to grow at a healthy rate during the analysis period. The high occurrence of obesity in people and increasing advanced technologies spur the spinal implants market growth.
The European spinal implants market was the second-largest regional market in 2019, and the market size is estimated to worth USD 3930 million by 2025. Due to the rising geriatric population, the region's growth is a growing demand for spinal implants and treatments for spinal disorders. Building funds for research and development for novel product approvals spreads the market growth. The UK is leading the market of this region. As per the National Health Service, 2500 people are injured every year. The total number of spinal injuries across the UK are more than 60,000 in 2019. The spinal implants market in Germany is to hold the highest revenue share. The academic and institute organize campaigns to bring awareness regarding spinal implants to new orthopedic surgeons. On January 12, 2021, SHS is investing in Blue Ocean Spine GmbH, a developer of 3D-printed spinal implants. The Italian spinal implants markets is the quickest growing in the European region. As the senior population is high, effective procedural treatments for spinal disorders drive the market demand.
However, the Asia-Pacific is the fastest-growing region and estimated to witness a CAGR of 5.93% between 2020 to 2025. China is leading the spinal implants market with the highest share during the estimated period. On May 21, 2015, Thornton Cleveleys, the largest manufacturer of implants and related surgical instruments for trauma and spine surgery, Weigao Orthopaedic Device, offers a spine stabilization system called "Tulip".
The Latin American regional market is predicted to grow at a steady CAGR during the forecast period. Brazil is leading the LATAM region and is driven by developing technologies involving inventive devices and new surgical processes. Wide variety of procedural stabilizations found in thoracolumbar fixation, including degenerative and deformity and trauma. Zimmer Biomet is the leading market key player of spinal implants in Brazil.
The Middle East & African regions are said to have considerable market growth during the analysis period. UAE is leading the market in this region. On August 17, 2020, the surgeons at Burjeel hospital, Abu Dhabi, developed a new robot-assisted surgical procedure to surge spinal procedures precision.
KEY MARKET PLAYERS:
Key market participants leading the global spinal implants market profiled in this report are Medtronic, plc (Ireland), DePuy Synthes (U.S.), Stryker Corporation (U.S.), NuVasive, Inc. (the 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.).
NOTABLE HAPPENINGS IN THIS MARKET IN THE RECENT PAST:
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Technology
5.1.1 Introduction
5.1.2 Spinal Fusion and Fixation Technologies
5.1.3 Vertebral Compression Fracture Treatment
5.1.4 Motion Preservation/Non-Fusion Technologies
5.1.5 Spinal Decompression
5.1.6 Y-o-Y Growth Analysis, By Technology
5.1.7 Market Attractiveness Analysis, By Technology
5.1.8 Market Share Analysis, By Technology
5.2 Product
5.2.1 Introduction
5.2.2 Thoracic Fusion and Lumbar Fusion Devices
5.2.2.1 Posterior Thoracic Fusion and Lumbar Fusion Devices
5.2.2.2 Interbody Thoracic Fusion and Lumbar Fusion Devices
5.2.2.2.1 By Approach
5.2.2.2.1.1 Anterior Lumbar Interbody Fusion Devices
5.2.2.2.1.2 Posterior Lumbar Interbody Fusion Devices
5.2.2.2.1.3 Transforaminal Lumbar Interbody Fusion Devices
5.2.2.2.1.4 Axial Lumbar Interbody Fusion Devices
5.2.2.2.2 By Material
5.2.2.2.2.1 Non-Bone Interbody Fusion Devices
5.2.2.2.2.2 Bone Interbody Fusion Devices
5.2.2.2.3 Anterior Thoracic Fusion and Lumbar Fusion Devices
5.2.2.3 Cervical Fusion Devices
5.2.2.3.1 Anterior Cervical Fusion
5.2.2.3.1.1 Anterior Cervical Plates
5.2.2.3.1.2 Cervical Interbody Fusion Devices
5.2.2.3.1.3 Anterior Cervical Screw Systems
5.2.2.3.2 Posterior Cervical Fusion
5.2.2.3.2.1 Posterior Cervical Plates
5.2.2.3.2.2 Posterior Cervical Screws
5.2.2.3.2.3 Posterior Cervical Rods
5.2.2.4 Spine Biologics
5.2.2.4.1 Demineralized Bone Matrix
5.2.2.4.2 Bone Morphogenetic Proteins
5.2.2.4.3 Bone Substitutes
5.2.2.4.4 Machined Bones
5.2.2.4.5 Cell-Based Matrices
5.2.2.4.6 Allografts
5.2.2.5 Vcf Treatment Devices
5.2.2.5.1 Balloon Kyphoplasty Devices
5.2.2.5.2 Vertebroplasty Devices
5.2.2.6 Spinal Decompression
5.2.2.6.1 Discectomy
5.2.2.6.2 Laminoplasty, Laminectomy, and Laminotomy
5.2.2.6.3 Foraminotomy and Foraminectomy
5.2.2.6.4 Facetectomy
5.2.2.6.5 Corpectomy
5.2.2.7 Non-Fusion Devices
5.2.2.7.1 Dynamic Stabilization Devices
5.2.2.7.1.1 Interspinous Process Spacers
5.2.2.7.1.2 Pedicle-Based Dynamic Rod Devices
5.2.2.7.1.3 Facet Replacement Products
5.2.2.7.2 Artificial Discs
5.2.2.7.2.1 Artificial Cervical Discs
5.2.2.7.2.2 Artificial Lumbar Discs
5.2.2.7.3 Annulus Repair Devices
5.2.2.7.4 Nuclear Disc Prostheses
5.2.2.8 Spine Bone Stimulators
5.2.2.8.1 Non-Invasive Spine Bone Stimulators
5.2.2.8.1.1 Pulsed Electromagnetic Field Devices
5.2.2.8.1.2 Cc and Cmf Devices
5.2.2.8.2 Invasive Spine Bone Stimulators
5.2.3 Y-o-Y Growth Analysis, By Product
5.2.4 Market Attractiveness Analysis, By Product
5.2.5 Market Share Analysis, By Product
5.3 Type of Surgery
5.3.1 Introduction
5.3.2 Open Surgeries
5.3.3 Minimally Invasive Surgeries
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Technology
6.1.3.3 By Product
6.1.3.4 By Type of Surgery
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Technology
6.1.4.3 By Product
6.1.4.4 By Type of Surgery
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Technology
6.1.5.3 By Product
6.1.5.4 By Type of Surgery
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America &
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