(I-BusinessNews.Com, June 03, 2020 ) Market Growth Factors –
Advancements in spine surgery technologies, increasing incidence of spinal disorders, the launch of advanced bone grafting products, and the increasing adoption of minimally invasive spine surgeries are the major factors driving the growth of this segment.
According to research report the global spinal implants 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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Based on technology, the spinal fusion and fixation technologies segment accounted for the largest market share in 2019.
Based on technology, the spinal implants 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.
By product, the thoracic fusion & lumbar fusion devices segment accounted for the largest market share in 2019.
Based on product, the spinal implants 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 spinal implants and surgical devices market.
The open surgeries segment will continue to dominate the spinal implants market in 2025.
Recent Developments –
> In 2020, Medtronic (Ireland) acquired Stimgenics, a US-based, privately held company that has pioneered a novel spinal cord stimulation (SCS).
> In 2019, DePuy Synthes (US) launched Symphony Occipitocervico-thoracic System.
> In 2019, NuVasive (US) launched Modulus TLIF-O.
> In 2018, NuVasive (US) and Biedermann Motech GmbH & Co. KG (Germany) entered into a strategic partnership to access intellectual properties and co-develop state-of-the-art complex spine solutions.
> In 2018, Stryker Corporation (US) launched ProChondrix CR.
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The Asia Pacific spinal implants market is estimated to grow at the highest CAGR during the forecast period. This can be attributed to the improving healthcare infrastructure, rising awareness, improving reimbursement scenario, and the growing insurance coverage in several APAC countries.
MarketsandMarkets™
Mr. Aashish Mehra
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raviraj.tak@marketsandmarkets.com
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