Spinal Implants Market Analysis
The global spinal implants market is anticipated to grow at a 5.5% CAGR between 2017- 2023, as per the recent analysis by Market Research Future (MRFR). Spinal implants & devices, simply put, are used for treating deformities like isthmic spondylolisthesis and spinal stenosis.
Various factors are propelling the global spinal implants market growth. As per the latest MRFR report, such factors include faster recovery times, an increase in outpatient ambulatory surgical centres offering less invasive implant procedures, demand for movement preservation surgeries, spine implants manufacturer creating innovation in implant devices, and increasing use of implant methods during various orthopedic surgeries. Additional factors adding market growth include increasing adoption rates, less hospital stay duration, and several benefits such as less bleeding risks, low infection, faster recovery, and lesser scarring. All these factors are also impacting the spinal surgery devices market, spinal implants and surgery devices market, and spinal deformity market size.
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On the contrary, strict regulatory approval procedures, unfavorable reimbursement scenario, the impact of the COVID-19 pandemic, and lack of skilled experts to perform spinal implant procedures are factors that may limit the global spinal implants market growth over the forecast period.
The report offers an analysis of the various parameters of the spinal implants market. The spinal implants market has been segmented based on the product, procedure, and material. It also highlights on the current market trends, market size, and share, and also the regional segmentation.
Spinal Implants Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global spinal implants market based on the product, procedure, and material.
By product, the global spinal implants market is segmented into spinal bone stimulators, non-fusion devices, and spinal fusion devices. Of these, the spinal fusion devices will lead the market over the forecast period.
By procedure, the global spinal implants market is segmented into minimally invasive surgery and open surgery. Of these, the open surgery procedure will dominate the market over the forecast period.
By material, the global spinal implants market is segmented into plastic, steel, titanium alloy, and titanium.
Spinal Implants Market Regional Analysis
Based on the region, the global spinal implants market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific, & the Middle East and Africa (MEA). Among these, North America will lead the market over the forecast period. Increasing research and development funding to create new techniques, increasing per capita healthcare expenditure, the contribution of nanotechnology, advances in manufacturing processes, and technological innovation are adding to the global spinal implants market growth in the region. Canada and the US have a maximum share in the region.
The global spinal implants market in Europe is predicted to hold the second-largest share over the forecast period. Burgeoning demand for spinal devices and implants to treat spinal disorders, increasing geriatric population, and financial support for R&D activities from the government is adding to the global spinal implants market growth in the region.
The global spinal implants market in the APAC region is predicted to grow at a fast pace over the forecast period. Increasing awareness about new spine treatment techniques, presence of huge patient population, growing government funding, rising healthcare expenditure, and increasing prevalence of obesity disorders are adding to the global spinal implants market growth in the region.
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The global spinal implants market in the MEA is predicted to have steady growth over the forecast period.
Spinal Implants Market Key Players
Top spine implant companies profiled in the global spinal implants market report include Spine Frontier (US), Spineart Geneva SA (Switzerland), Spinal Solutions Inc. (US), Precision Spine (US), Reliance Medical Systems (US), Paradigm Spine LLC (US), SpineGuard (France), NLT Spine (US), Life Spine (US), Captiva Spine Inc. (US), Centinel Spine (US), SI-BONE (US), Back 2 Basics Spine (Canada), Accel Spine (US), A-Spine (Taiwan), Premia Spine (Israel), Ascendx Spine (US), Apollo Spine (US), AESCULAP (US), Alliance Spine (US), Quandary Medical LLC (US), Integra LifeSciences (US), LDR Holding Corporation (US), Exactech Inc. (US), RTI Surgical, Inc. (US), Amedica Corporation (US), K2M Group Holdings, Inc. (US), Alphatec Holdings, Inc. (US), Orthofix International N.V. (Netherlands), Globus Medical, Inc. (US), NuVasive, Inc. (US), Zimmer Biomet Holdings, Inc. (US), Stryker Corporation (US), Medtronic, plc. (Ireland), and Depuy Synthes Inc. (Johnson & Johnson) (US).
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