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Feb 09, 2024

Spinal Implant and Devices Market Outlook, Trend, Growth and Share Estimation Analysis Forecasts 2023 to 2031

The global spinal implants and devices market was valued at $11,356.59 million in 2019 and is projected to reach $15,054.07 million by 2027 at a CAGR of 5.7% from 2020 to 2027. The market is driven by

The global spinal implants and devices market was valued at $11,356.59 million in 2019 and is projected to reach $15,054.07 million by 2027 at a CAGR of 5.7% from 2020 to 2027. The market is driven by shift toward minimally invasive spine procedure. Growth in elderly population and rise in incidences of spinal disorders attributed to sedentary lifestyle is expected to drive the market growth. In addition, advancements in spine surgeries and new product launches further fuel the market. Spine-related disorders and deformities are treated using spinal implants and devices. Disorders such as spinal stenosis and lumbar degenerative spondylolisthesis are caused from degeneration of intervertebral disc, deformity, tumors, and trauma. In addition, implant systems utilize specially designed spinal instrumentation such as plates, rods, and screws, which help to facilitate fusion, correct deformities, and stabilize and strengthen the spine. Most spinal implants are made of metals such as titanium and are available in different shapes and sizes to be used in patients of all ages.

However, stringent regulatory approval procedures, present pandemic situation and unfavorable reimbursement scenario are expected to hamper growth of the spinal implant and devices market. Moreover, emerging markets are expected to drive demand for spinal implants and devices and advancements in augmented and virtual reality, endoscopic surgery and 3D printed implants for minimally invasive surgery are also expected to fuel the market growth. The report segments the spinal implants and devices market on the basis of type, surgery, and region. According to the product type, it is segmented into spinal fusion implants, motion preservation devices, vertebral compression fracture (VCF) devices, spine bone stimulators and spine biologics. By surgery type, it is bifurcated into open spine surgery and minimally invasive spine surgery. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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It also discusses the segmentation analysis based on product type and application that is presented in the report. The major studies, market growth rate, competitive environment, market drivers, trends, concerns, and macroscopic indicators, are all summarized. The report studies the SWOT analysis of each player profiled in this section, their products, production, value, capacity, and other crucial criteria.

Over the past few years, key players have adopted product development such as product launches, approvals, and clinical trials as their key strategies. For instance, in September 2019, J&J launched a 3D Printed Implant Portfolio (CONDUIT Interbody Platform with EIT Cellular Titanium Technology) for spine surgery to expand comprehensive offering to treat degenerative spine disease. Moreover, in February 2019, Orthofix received US Food and Drug Administration (FDA) approval for M6-C artificial cervical disc (Orthofix Medical) for patients suffering from cervical disc degeneration. This artificial disc was developed by Spinal Kinetics.

The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.

Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).

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KEY BENEFITS FOR STAKEHOLDERS– The study provides an in-depth analysis of the global spinal implants and devices market with current trends and future estimations from 2019 to 2027 to elucidate the imminent investment pockets.– Comprehensive analysis of factors that drive and restrict the market growth is provided.– Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global & regional scale are provided.– Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the market.

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List of key players profiled in the report– Alphatec Holdings, Inc.– B. Braun Melsungen AG– Exactech, Inc.– Johnson & Johnson (DePuy Synthes)– Globus Medical, Inc.– Medtronic plc– Nuvasive, Inc.– Orthofix International N.V.– Stryker Corporation– Zimmer Biomet Holdings, Inc.List of the other key players (not included in the report) includes Aesculap Implant Systems, Aspen Medical Products, Amedica Corp., Camber Spine Technologies, Paragon Medical, Inc., Norman Noble, Inc., Nutech, Titan Spine, Wenzel Spine, Inc., X-spine Systems, Inc., Tecomet, Inc., Marox Corporation, Axial Medical, Spine Wave, Inc., K2M, Inc., and Captiva Spine, LLC.

Key Market SegmentsBy Type– Spinal Fusion Implantso Thoracolumbar Devices? Anterior Lumbar Plates? Lumbar Plates? Pedicle Screw? Rods? Hooks? Wires & Cables? Crosslinkso Cervical Fixation Devices? Anterior Cervical Plates? Hook Fixation Systems? Plates & Screws? Clamps? Wireso Interbody Fusion Devices? Non-Bone Interbody Fusion Devices? Bone Interbody Fusion Devices

– Vertebral Compression Fracture (VCF) Deviceso Balloon Kyphoplasty Deviceso Vertebroplasty Devices– Motion Preservation Deviceso Dynamic Stabilization Devices? Interspinous Process Spacers? Pedicle Screw-Based Systems? Facet Replacement Productso Artificial Discs? Artificial Cervical Discs? Artificial Lumbar Discso Annulus Repair Deviceso Nuclear Disc Prostheses– Spine bone stimulatorso Non-Invasive Spine Bone Stimulators? Pulsed Electromagnetic Field Device? Capacitive Coupling (CC) and Combined (Electro) Magnetic Field (CMF) Deviceso Invasive Spine Bone Stimulators– Spine Biologicso Spinal Allografts? Machined Bones Allograft? Demineralized Bone Matrixo Bone Graft Substitutes? Bone Morphogenetic Proteins? Synthetic Bone Graftso Cell-Based Matrix

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By Surgery– Open Spine Surgery– Minimally Invasive Spine Surgery

By Regiono North America? U.S.? Canada? Mexicoo Europe? UK? Germany? France? Italy? Spain? Rest of Europeo Asia-Pacific? China? Japan? India? Australia? South Korea? Rest of Asia-Pacifico LAMEA– Brazil– Saudi Arabia– South Africa– Rest of LAMEA

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