The global spinal implants and spinal devices market is growing, due to increasing demand for minimally invasive surgeries, increasing number of hospitals and surgical centers, and commercial applications in areas, such as nucleus arthroplasty, stem cell technology and artificial disk replacement. The spinal fusion and fixation technology dominates the market and the non-fusion/ motion preservation technology segment is expected to grow with the fastest rate during the forecast period, due to increasing demand for minimally invasive surgical procedures among patients and development of technologically advanced non-fusion devices.
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The massive unexplored market in the spinal implants and spinal devices industry of the developing economies is creating abundant growth opportunities for the global spinal implants and spinal devices surgery market. Spine is one of the complex series of joint within the body and enclosed spinal cord, which is the part of spinal cord. Spinal implants are used to treat spinal disorders and improve the quality of patient’s life.
Some of the factors driving growth of the global spinal implants and spinal devices market are growing geriatric population, increasing incidence of spinal disorders, advancements in spine surgery technologies, technological developments in bone grafting products, and increasing healthcare expenditure. In addition, the increasing obese population and sedentary lifestyle, increasing incidence of road accidents, and improving healthcare infrastructure in developing countries are also driving the growth of the market. However, strict regulatory requirements, high cost of treatment procedure and limited reimbursement are some of the factors, restraining the growth of the global spinal implants and spinal devices market.
Some of the companies operating in the global spinal implants and spinal devices market are Medtronic PLC, LDR Holding Corporation, Johnson & Johnson, Stryker Corporation, K2M Group Holdings Inc., Nuvasive Inc., Globus Medical Inc., Alphatec Spine Inc., Orthofix International N.V., and Zimmer Biomet Holdings Inc.
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