Spinal implants Market Size to grow by USD 3567.08 million between 2024-2028
According to a research report “ Spinal implants Market” by End-user (Hospitals, Ambulatory surgical centers, Specialty clinics) Product (Spinal fusion implants, Non-fusion spinal implants) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 3567.08 million, at a CAGR of 5.59% during the forecast period. The global spinal implants market is poised for significant growth due to the escalating prevalence of various spinal disorders, including degenerative diseases of the lumbar spine, spondylolisthesis, spinal stenosis, spinal tumors, osteoporosis, scoliosis, and herniated discs. According to the National Institutes of Health (NIH), approximately 299 million people in the US were diagnosed with degenerative lumbar spine conditions in 2018. Furthermore, around 39 million people were diagnosed with spondylolisthesis, 403 million with symptomatic disc degeneration, and 103 million with spinal stenosis worldwide. This increasing burden of spinal disorders will fuel the demand for advanced spinal implant solutions, thereby propelling market expansion throughout the forecast period. Scoliosis, characterized by an abnormal lateral curvature of the spine, is another prevalent condition driving market growth..
Browse market data tables, figures, and in-depth TOC on “Spinal implants Market” by End-user (Hospitals, Ambulatory surgical centers, Specialty clinics) Product (Spinal fusion implants, Non-fusion spinal implants) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample
By End-user, the Hospitals segment is projected to dominate the market size in 2024
In the healthcare industry, hospitals frequently utilize spinal implants during spinal fusion procedures to ensure stability in the spine after the fusion of two or more vertebrae. These procedures address various conditions, including degenerative disc disease, spondylolisthesis, spinal fractures, and scoliosis. Spinal implants, including screws, rods, plates, and interbody cages, serve to secure the spine in the desired position, preventing unwanted movement between the fused vertebrae. Moreover, hospitals employ specialized spinal rods and screws to correct spinal deformities, particularly scoliosis, in adolescent patients. Additionally, artificial discs, interbody cages, or dynamic stabilization devices are utilized to treat patients with herniated or ruptured discs.
By Product, Spinal fusion implants segment is expected to hold the largest market size for the year 2024
In the healthcare industry, spinal fusion implants serve as essential medical devices utilized in surgical interventions to address instability, pain, and neurological symptoms resulting from various spinal conditions. These implants facilitate spinal fusion, a surgical procedure designed to join two or more adjacent vertebrae, thereby creating a stable, immovable bridge between them. This fusion process not only ensures spine alignment correction for conditions such as scoliosis or spondylolisthesis but also alleviates chronic back or neck pain by immobilizing the affected spine segment. By promoting proper vertebrae healing, these implants contribute significantly to improving overall patient well-being.
North America is forecasted to hold the largest market size by region in 2024
The North American spinal implants market is projected to experience growth due to the rising prevalence of spine-related disorders, such as degenerative disc disease, herniated discs, spinal stenosis, and scoliosis. With an aging population, the incidence of these conditions is increasing, leading to a heightened demand for spinal implant procedures. North America's advanced and well-funded healthcare systems ensure accessibility to cutting-edge treatments, further fueling market expansion. The region's demographic trends and healthcare infrastructure position it as a significant market for spinal implant manufacturers and service providers.
The Spinal implants Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The global market for spinal implants is witnessing significant growth due to the increasing prevalence of spinal disorders, including degenerative conditions, spinal deformities, and injuries from road traffic crashes. The demand for spinal implants is driven by the aging population and the advancements in spinal technologies. Cobalt Chrome, Titanium, and Stainless Steel are commonly used materials for spinal implants due to their biocompatibility and strength. Spinal fusion devices, such as cervical fusion devices and lumbar fusion devices, continue to dominate the market. Expandable fusion cages and plates are popular choices for spinal fusion procedures. Surgeons also utilize non-fusion devices, such as dynamic stabilization devices and artificial discs, for minimally invasive procedures. Spine biologics, including bone graft substitutes and growth factors, are used to enhance fusion and reduce the recovery time. The market for spinal decompression devices is also growing, particularly for the treatment of herniated discs and spinal stenosis. Minimally invasive spine surgery is gaining popularity due to its reduced risk of complications and faster recovery time. Physicians are increasingly adopting minimally invasive surgery techniques, such as minimally invasive lumbar fusion and thoracic fusion, to treat spinal disorders. Overall, the spinal implants market is expected to continue growing due to the increasing prevalence of spinal disorders and the ongoing advancements in spinal technologies.
Market Research Overview
The global spinal implants market is witnessing significant growth due to the increasing prevalence of spinal-related deformities and age-related spinal disorders. The market for spinal implants includes a wide range of products made from ceramic material, polymers, and metallic material. These implants are used in various spinal procedures such as expandable fusion cages, minimally invasive surgeries (MIS), open surgeries, spinal decompression, motion preservation, and fusion procedures. Surgeons use these implants to treat spinal deformities caused by road traffic crashes, degenerative spinal conditions, and spinal-related injuries. Spinal technologies have advanced significantly, leading to the development of minimally invasive spine procedures using capacitive coupling devices, corpectomy, facetectomy, foraminectomy, foraminotomy, laminotomy, laminectomy, laminoplasty, discectomy, and various other procedures. Orthopedic centers and hospitals are major consumers of spinal implants, including allograft bone, cell-based matrices, machined bones, bone substitutes, vertebroplasty devices, balloon kyphoplasty devices, posterior cervical rods, posterior cervical screws, and posterior cervical plates. Non-fusion technologies such as dynamic stabilization systems are also gaining popularity. Physicians use various materials like Polyetheretherketone (PEEK), Cobalt Chrome, Titanium, and Stainless Steel in the production of spinal implants. The market for spinal implants includes a wide range of products such as spinal cord injury devices, spine biologics, vertebral compression fracture devices, and non-fusion devices. The use of 3D printing technology in the production of spinal implants is a recent trend in the market. The aging population and the increasing prevalence of spinal disorders are expected to drive the growth of the spinal implants market in the coming years. The market is highly competitive, with major players including Medtronic, Stryker, and Zimmer Biomet. The market is also witnessing the entry of new players, leading to increased competition and innovation in the field of spinal implants.
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