(I-BusinessNews.Com, October 01, 2020 ) The advancements in spine surgeries technologies, such as the development of safer, more effective, advanced, simple, and easy-to-use spinal implants and devices; the increasing incidence of spinal disorders; and the launch of advanced bone grafting products are some of the key factors driving the growth of the Spinal Implants Devices Market.
According to the new market research report the Spinal Implants Devices Market is projected to reach USD 13.8 billion by 2025 from USD 10.3 billion in 2019, at a CAGR of 5.0%.
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The spinal fusion and fixation technologies segment accounted for the largest share of the Spinal Implants Devices Market in 2019.
On the basis of technology, the Spinal Surgery Devices Market is segmented into spinal fusion and fixation, vertebral compression fracture treatment, motion preservation/non-fusion, and spinal decompression technologies. The spinal fusion and fixation technologies segment accounted for the largest share of the market in 2019. The large share of this segment can be attributed to the rising incidence of target diseases (such as degenerative disc disease and spinal stenosis) with the growing geriatric population across the globe, a growing number of spinal fusion procedures, and technological advancements in spinal fusion techniques and bone grafting procedures.
The open surgeries segment accounted for the largest share of the Spinal Implants Devices Market in 2019.
Based on the type of surgery, the market is segmented into open and minimally invasive surgeries. The open surgeries segment accounted for the largest share of the Spinal Surgery Devices Market in 2019. The large share of this segment can be attributed to the increasing preference for open spine surgeries among medical professionals, rising incidence of spinal deformities, and technological advancements in spinal fusion surgeries. In addition, some spine procedures, such as spinal implant insertions, can only be done through open surgeries, which is another major factor supporting market growth.
The thoracic fusion and lumbar fusion devices segment accounted for the largest share of the Spinal Surgery Devices Market in 2019.
Based on product, the market is segmented into thoracic fusion and lumbar fusion devices, cervical fusion devices, spine biologics, non-fusion devices, vertebral compression fracture treatment devices, spinal decompression devices, and spine bone stimulators. The thoracic fusion and lumbar fusion devices segment accounted for the largest share of the market in 2019. The large share of this segment can be attributed to the increasing incidence of lumbar degenerative disc disease and the growing number of product launches.
The major players operating in the Spinal Surgery Devices Market are Medtronic (Ireland), DePuy Synthes (US), NuVasive, Inc. (US), Stryker Corporation (US), B. Braun Melsungen AG (Germany), Zimmer Biomet Holdings, Inc. (US), Globus Medical, Inc. (US), Orthofix International N.V. (US), Abbott Laboratories (US), RTI Surgical, Inc. (US), Boston Scientific (US), SeaSpine Holdings Corporation (US), ulrich GmbH & Co. KG (Germany), Spineart (Switzerland), Kuros Biosciences AG (Switzerland), Bioventus, LLC (US), Colfax Corporation (US), Meditech Spine, LLC (US), and Implanet (France).
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North America dominates the Spinal Implants Devices Market.
The Spinal Implants Devices Market is segmented into five regional segments, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The large share of the North American market can be attributed to its highly developed healthcare infrastructure and reimbursement systems and high patient awareness and physician education. However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period, primarily due to the improving healthcare infrastructure, rising awareness, improving reimbursement scenario, and the growing insurance coverage in several APAC countries.
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