Spinal Implant Market Analysis & Forecast during 2019-2028 – Latest Market Report by RationalStat | RationalStat

The report titled “Spinal Implant Market” assesses the global, regional, and local market on the basis of the product type, application, material, surgery type, and region.  A comprehensive report provides an in-depth historical and future market size with trend analysis. The report underlines the competition analysis, strategic imperatives, growth avenues, and competition assessment for the concerned players in the spinal implant market.

Market Overview and Dynamics

The spinal implant market value is expected to grow at a CAGR of around 5% during the forecast period of 2022-2028. Increasing spinal disorders, technological advancements in the products, and growing desire for minimally invasive treatment among people are some of the driving factors for the market growth.  

A significant rise in the number of spinal disorders across the globe has surged the demand for spinal implants in recent times. According to the WHO, between 250,000 to 500,000 people suffer from a spinal cord injury (SCI) every year; thus, reflecting the substantial demand for spinal implants. Moreover, the soaring adoption of minimally invasive treatment is another pivotal factor that is propelling the demand for spinal implants globally.

The global spinal implant market was valued at between US$ 11-12 billion in 2021 and is expected to surpass US$ 16 billion by the end of 2028.

Further, the increased penetration of advanced technology in the orthopedic space has led to the launch of innovative products in the spine sub-segment as well, which has augmented the global market spinal implant market growth. Industry players are focusing on the development of innovative products to facilitate the easy treatment of spine disorders. For instance, Spine Wave Inc. has launched 3D Titanium lumbar Interbody Device with advanced technology and features in March 2021.

  • Based on the surgery type, open surgery held the largest share while minimally invasive surgery is expected to grow at the fastest CAGR during the forecast period of 2022-2028.
  • On the basis of the application, the lumbar segment held a considerable market share in 2021 owing to the increasing incidence of lumbar degenerative disc disease.
  • Based on region, North America is expected to dominate the global spinal implant market due to the significant prevalence of spinal disorders along with the high adoption of minimally invasive treatment. The US observes approximately 17,500 new cases of spinal cord injury (SCI) every year.

Competition Analysis: Medtronic PLC held the prominent market share in 2021

The global spinal implant market is characterized by the presence of a significant number of manufacturers. Nevertheless, leading global players (such as Medtronic plc, DePuy Synthes (Johnson & Johnson), Stryker Corp., NuVasive Inc., B. Braun Melsungen AG, Zimmer Biomet, Globus Medical Inc.) dominate the spinal implant market with more than 75% share. Leading industry players are making significant investments to gain a competitive edge over other players and as well as increase market share in the market space. Key developments observed in recent years include

  • In October 2021, the US FDA has granted Breakthrough Device Designation to the VCFix spinal system developed by the Amber Implants.
  • In June 2021, eCential Robotics announced a long-term partnership with ChoiceSpine LLC to enhance robotics spine implant surgery.
  • In January 2020, Medtronic plc announced the acquisition of US-based Stimgenics LLC – a privately held company that has pioneered a novel spinal cord stimulation (SCS) waveform.

RationalStat has segmented the global spinal implant market on the basis of product type, application, material, surgery type, and region

  • By Product Type
    • Spinal Fusion Implants
      • Plates
      • Cages
      • Rods
      • Screws
      • Intervertebral Body Fusion Device (IBFD)
    • Spinal Non-fusion Implants
      • Dynamic Stabilization Devices
      • Artificial Discs
        • Cervical
        • Lumbar
      • Annulus Repair Devices
      • Others (Nuclear Disc Prostheses etc.)
    • By Application
      • Cervical
      • Thoracic
      • Lumbar
    • By Material
      • Stainless Steel
      • Titanium
      • Polyetheretherketone (PEEK)
      • Others (Cobalt Chrome)
    • By Surgery Type
      • Open Spine Surgery
      • Minimally Invasive Spine Surgery
    • By Region
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Western Europe
      • Germany
      • UK
      • France
      • Spain
      • Italy
      • Benelux
      • Nordic
      • Rest of Western Europe
    • Eastern Europe
      • Russia
      • Poland
      • Rest of Eastern Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
      • ASEAN (Indonesia, Vietnam, Malaysia, etc.)
      • Rest of Asia Pacific
    • Middle East & Africa
      • GCC
      • South Africa
      • Turkey
      • Rest of the Middle East & Africa

For more information about this report visit https://store.rationalstat.com/store/global-spinal-implants-market-trends-analysis-and-forecast/

About RationalStat LLC

RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies.  The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.

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Kimberly Shaw,
Content and Press Manager
RationalStat LLC
Phone: +1 302 803 5429

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