(I-BusinessNews.Com, February 06, 2021 ) 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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The major players operating in the spinal implants and 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).
Medtronic (Ireland) dominated the global spinal implants market in 2019, owing to its wide portfolio of spine surgery products and strong geographical presence across the globe. The company primarily focuses on developing technologically advanced products for minimally invasive spine surgeries.
DePuy Synthes (US) held the second position in the global spinal implants and surgery devices market in 2019. The company has a strong geographical presence and offers a broad range of products that are integral to the spinal implants and surgical devices market. The company primarily focuses on strengthening its R&D capabilities to continuously develop and commercialize innovative spine products in the global spinal implants market.
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.
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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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