The global Spinal Implants & Devices market size is expected to be worth around US$ xx billion by 2030, according to a new report by Vision Research Reports.
The global Spinal Implants & Devices market size was valued at US$ 21.06 billion in 2020 and is anticipated to grow at a CAGR of 15.8% during forecast period 2021 to 2030.
Growth Factors
The key contributing factors for the market growth include increasing prevalence and subsequent increase in the treatment rates of degenerative spine disorders, rapidly growing elderly population, advancements in medical technology, and increasing demand for minimally invasive procedures.
Aging of the population is associated with degeneration of spine and increasing spinal disorders. Changing lifestyle resulting in upsurge in obesity among the population is also one of the key factors propelling the growth. Growing prevalence of spine injuries is anticipated to further contribute to the growth of the market during the forecast period.
According to, the National Spinal Cord Injury Statistical Center, in 2016, the annual incidence of spinal cord injuries in the U.S. was approximately 54 cases per million population or about 17,000 new cases of such injury per year. As per the WHO insights (2013), spinal cord injuries affect between 250,000 and 500,000 people globally each year. Road accidents, falls, violence and sports activities are some of the major causes of these injuries. Furthermore, development of novel and effective technologies in spine care is anticipated to drive the demand for these implants and devices.
Degenerative disc disorders are among the most commonly diagnosed condition and are the leading causes of back and neck pain. According to the American Chiropractic Association, approximately 31 million people in the U.S. suffer from low back pain at any given time. In addition, an estimated USD 50 billion each year is spent on treatment of back pain in the U.S. Thus, degenerative disorders and associated back pains are expected to boost the demand for these implants and devices in the coming years.
Report Highlights
the spinal fusion devices segment held the largest share in the market. The rising demand for fusion treatments due to increasing incidence of spine injuries and disorders is one of the crucial factor responsible for the large share of this segment. The growing demand for minimally invasive fusion systems and robotic fusion techniques further contributes to the large share of this segment.
Spinal fusion devices are used for treating disc degenerative diseases, spine injuries, and other disorders pertaining to the cervical, thoracic, and lumbar areas of the spine. Aging of the population leading to increase in cases of degenerative spine conditions is another key driver for the growth of this segment. Furthermore, technological advancements and increasing demand for 3D imaging technology are likely to boost the demand for these devices.
However, the spinal biologics segment is forecasted to experience the fastest growth rate with a CAGR of 7.0%. Growing awareness among the healthcare professionals regarding the advantages such as minimal invasiveness and reduction in the duration of hospital stays are likely to be the key factors contributing to the highest growth of this segment.
The spinal fusion & fixation technologies segment held the largest share of the market in the year 2015. This technology is majorly used for the treatment of major spine injuries and severe spine disorders such as spondylolisthesis, spinal stenosis, and scoliosis. The growing prevalence of these disorders is attributable to the large share of the segment. In addition, growing awareness of technological advancement among the healthcare professionals is expected to further drive the growth during the forecast period.
However, the motion preservation technologies segment is anticipated to grow at a faster rate with a CAGR of 6.4%. The growing demand for non-fusion spine surgeries among patients suffering from chronic lower back pain is one of the major factors expected to propel the market in the future. Furthermore, increasing patient population suffering from disc damages and degenerative disc diseases are anticipated to impel the market in the coming few years.
The open surgeries segment held the largest share of the market in the year 2015 accounting for about 62.5%. Open surgeries have an important application in alleviating back pain, which is otherwise incurable by medication or other non-surgical treatment options. Open surgeries have set a benchmark amongst other procedures in the treatment of spine injuries and disorders and thus accounted for the largest revenue share of this market.
However, the minimally invasive surgeries (MIS) segment is anticipated to grow at a faster rate with a lucrative CAGR of 8.5% over the forecast period. The potential advantages of MIS over the conventional open surgeries such as lower blood loss, faster recovery, lesser traumas & incisions, and reduced hospital stays are some of the factors expected to boost the adoption of MIS in spine treatments.
The adverse effects & potential drawbacks associated with open surgeries are also anticipated to contribute to the growing adoption of MIS in healthcare. These minimally invasive surgeries provide access to the target, while potentially minimizing the damage to surrounding tissues and anatomical structures. Thus, owing to the various associated advantages, MIS is gaining momentum in recent years.
The laminotomy segment held the largest share of the market in the year 2015 accounting for 36.4%. Laminotomy is majorly used in the treatment procedures for osteoarthritis, ankylosing spondylitis, sciatica, and spinal stenosis. The increase in the prevalence of various spinal disorders and the growing adoption of technologically advanced treatment procedures also contribute to the large share of the segment.
However, the foraminotomy segment is anticipated to witness the fastest growth rate over the years. The growing number of surgeries for vertebral compression fracture, joint degenerative disorders, and other back surgeries is one of the factors expected to drive the growth of the segment. Furthermore, increasing acceptance of MIS procedures is anticipated to boost the growth of the segment.
North America dominated the market in 2015 with the highest market share. Key factors that can be attributed to its large share include increasing spinal cord injury cases, availability of enhanced healthcare facilities, and the presence of various organizations such as North American Spine Foundation for raising the awareness levels and providing education to the healthcare professionals and public.
The U.S. is the largest market in this region and across the globe. The increase in demand for spine surgeries coupled with surge in prevalence of spine injuries in this region further contributes to the large market share. According to the National Spinal Cord Injury Statistical Center, in 2017, approximately 285,000 people in the U.S. are estimated to suffer from spinal cord injuries.
Key Players
LDR Holding Corporations, Orthofix International N.V., Alphatec Spine, Globus Medical, Inc., Zimmer Biomet Holdings, NuVasive, Inc., Stryker Corporation, DePuy Synthes, and Medtronic
Market Segmentation
Product Outlook, by Revenue
Spinal Fusion devices
Spinal biologics
Vertebral compression fracture treatment devices
Non-fusion devices
Spinal bone growth stimulators
Technology Outlook, By Revenue
Fusion and fixation technology
Vertebral compression fracture treatment
Motion preservation technologies
Type of Surgery Outlook, By Revenue
Open surgery
Minimally invasive surgery
Procedure Type Outlook, By Revenue
Discectomy
Laminotomy
Foraminotomy
Facetectomy
Corpectomy
Regional Outlook, by Revenue
North America
The U.S.
Canada
Europe
The U.K.
Germany
Asia Pacific
Japan
China
Latin America
Brazil
Mexico
MEA
South Africa
The Spinal Implants & Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Spinal Implants & Devices market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Spinal Implants & Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Spinal Implants & Devices market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Spinal Implants & Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Spinal Implants & Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Spinal Implants & Devices by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Spinal Implants & Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Spinal Implants & Devices market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Spinal Implants & Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Spinal Implants & Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Spinal Implants & Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Spinal Implants & Devices market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Spinal Implants & Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Spinal Implants & Devices market. These factors have benefited the growth of the global market for Spinal Implants & Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Spinal Implants & Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Spinal Implants & Devices are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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