The Global Spinal Implants And Devices Market was valued at USD 11.6 billion in 2020 and is expected to reach USD 17.6 billion by 2028, growing at a CAGR of 5.3% from 2021 to 2028.
The spinal implants and devices market refers to the medical device market related to the treatment and management of spinal disorders and conditions through the use of implants and devices. These implants and devices are used in spinal surgeries to stabilize the spine, correct deformities, provide support, and promote spinal fusion.
Spinal implants and devices are designed to address various spinal conditions, including degenerative disc diseases, spinal stenosis, herniated discs, scoliosis, and spinal fractures. They are typically made from biocompatible materials such as titanium, stainless steel, or non-metallic materials.
The market for spinal implants and devices has experienced significant growth in recent years, driven by several factors:
Increasing prevalence of spinal disorders: The rising incidence of spinal conditions, including age-related degenerative disorders and spinal injuries, has fueled the demand for spinal implants and devices.
Technological advancements: Continuous advancements in implant materials, designs, and surgical techniques have improved the safety, efficacy, and outcomes of spinal surgeries.
Aging population: The aging population is more susceptible to spinal disorders, leading to a higher demand for spinal surgeries and associated implants and devices.
Minimally invasive procedures: The increasing adoption of minimally invasive techniques for spinal surgeries has led to a higher demand for specialized implants and devices designed for these procedures.
Favorable reimbursement policies: Favorable reimbursement policies for spinal surgeries and associated implants and devices in many countries have contributed to market growth.
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Market Segmentations:
Global Spinal Implants and Devices Market: By Company
• Medtronic
• DePuy Synthes
• Stryker
• NuVasive
• Zimmer Biomet
• Globus Medical
• Alphatec Spine
• Orthofix
• LDR Holding
Global Spinal Implants and Devices Market: By Type
• Fusion Devices
• Spinal Biologics
Global Spinal Implants and Devices Market: By Application
• Open Spine Surgery
• Minimally Invasive Spine Surgery
Market: Regional Analysis
The global spinal implants and devices market can be segmented into several regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America currently dominates the market due to the high incidence of spinal disorders and injuries in the region, as well as the availability of advanced healthcare facilities and reimbursement policies. The United States is the largest market in North America, accounting for the majority of the region’s revenue.
Europe is the second-largest market, with Germany, France, and the United Kingdom being the major contributors to the growth of the market. The presence of leading market players, increasing incidence of spinal disorders, and favorable reimbursement policies are driving the market growth in this region.
The Asia Pacific region is expected to witness significant growth in the coming years due to rising healthcare infrastructure and increasing awareness of spinal disorders. Countries such as China, Japan, and India are expected to be major contributors to the growth of the market in this region.
Latin America and the Middle East & Africa are also expected to witness growth in the market due to the increasing incidence of spinal disorders and injuries, improving healthcare infrastructure, and growing adoption of advanced medical technologies.
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