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Spinal Implant Market is Estimated to Reach US$ 17.3 Billion by 2032, Grow at a CAGR 11.4% between 2022-2032
Published : March 2022

According to a research report, published by Sheer Analytics and Insights global spinal implants market was valued at $5.2 billion in 2021 and it is expected to reach $17.3 billion at the CAGR of 11.4% through the forecast period.

Spinal implants surgery has been segmented into various types of products such as cervical fusion devices, thoracic and lumbar fusion devices, spinal decompression devices, spine bone stimulators, non-fusion devices, spine biology, and fractural treatment devices among others. Most of the geriatric population is suffering from several spinal-related issues. By the year 2020, the particular segment touched nearly 78.5% of the market share. This happened due to the rise of degenerative disc disease, arthritis, spinal stenosis, spinal tumors, spondylolisthesis, and other spine-related issues. However, treatment is always evolving with new innovative spine implants and devices. There are four types of postural defects and these are swayback, kyphosis, flat back, and lordosis. Bad posture habits can also lead to spinal disorders. Therefore, this type of spinal issue is another key driver of the global spinal implants market.

At first, there was a very negative impact on the healthcare system all over the world due to the COVID-19 pandemic. This epidemic situation forced government authorities to postpone all the travel facilities and they had to declare lockdowns to save their population. Even sudden changes occurred at hospitals and nursing homes. The Healthcare system was shattered. Therefore, these situations led to structural changes in the healthcare department, especially in operating rooms which further resulted in ceasing emergency surgeries of spinal. In addition, People with spinal issues had to suffer due to the emergency cases of COVID-19.

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However, the spinal infusion implants division increased in the global market by the year 2020 due to the several demands of spinal infusion plants, such as pedicle screw systems, plates, rods, inter-body fusion devices used to strengthen the spine. In present days, orthopedic doctors prefer medical devices for the treatment of soft-tissues injury, bone fractures, and spinal fracture treatment. Therefore, orthopedic plates and screws have been growing in demand across the globe. This has been drawing the attention of manufacturers of orthopedic devices such as DePuy Synthes, Zimmer Biomet, Stryker Corporation, Orthofix International to grab the opportunity of this growing spinal implants market. 

The rising cost of spinal implants is becoming the major concern across the global spinal implants market and this major factor is identified in the low-income economics and less-development countries. However, bone growth stimulators and Minimally-Invasive Surgeries (MIS) are less expensive which are hoped to raise the usage of spinal implants over the upcoming years. Moreover, governments from several countries are helping various private organizations to invest in developing more treatment methods for spinal implants surgeries and other issues related to the spine. The American Academy of Orthopedic Surgeons and the North American Spine Foundation has been contributed to the growth of spinal implant devices and healthcare equipment through R&D funding activities. They have also contributed funds towards the training programs for physicians across the globe. Asia-Pacific is also expected to be the fastest-growing market due to the development of low-cost spinal implants surgeries and upgraded technologies across the developing countries. 

For the past few years, the global spinal implants market is concentrated with a lot of competitive companies. In 2021, the top ten competitors made up more than 75% of the total share of the spinal implants market across the globe. Key players such as Teva Pharmaceutical Industries Ltd., Pfizer Inc., Zydus Cadila, Rising Pharmaceuticals Inc., NervGen, RespireRx Pharmaceuticals Inc., Johnson & Johnson, NuVasive, Medtronic, Zimmer Biotech Holdings, and others are leading the spinal implants market globally. However, in 2021, North America was the leading region in the global spinal implant market and was followed by Asia-Pacific, Western Europe, and other regions as well.

Global Spinal Implants Market Has Been Segmented Into:

Global Spinal Implant Market - By Product Type:

  • Thoracic Fusion & Lumbar Fusion Devices
  • Cervical Fusion Devices
  • Spine Biologics
  • Vertebral Compression Fracture Treatment Devices
  • Spinal Decompression Devices
  • Non-Fusion Devices
  • Spine Bone Stimulators

Global Spinal Implant Market – By Technology:

  • Spinal Fusion & Fixation
  • Vertebral Compression Fracture Treatment
  • Spinal Decompression
  • Motion Preservation

Global Spinal Implant Market - By Type:

  • Open
  • Minimal Invasive Surgery

Global Spinal Implant Market - By Material:

  • Stainless Steel (SS)
  • Titanium
  • Cobalt Chrome
  • Nitinol (A Nickel Titanium Alloy)
  • Tantalum
  • Polyetheretherketone (PEEK)

Global Spinal Implant Market - By End-User:

  • Multi-specialty Hospitals
  • Ambulatory surgical centers
  • Clinics
  • Others

Global Spinal Implant Market – By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Russia
    • France
    • Italy
    • Germany
    • RoE
  • Asia Pacific
    • South Korea
    • Japan
    • China
    • India
    • Australia
    • RoAPAC
  • Latin America, Middle East and Africa (LAMEA)

Click full report at https://www.sheeranalyticsandinsights.com/market-report-research/spinal-implant-market-21

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