Spinal Implants Market Scope
The Global Spinal Implants Market is expected to accumulate revenues at 5.5% CAGR during the forecast period. Spinal implants are used in fixing spinal deformities which can occur in men and women after a certain age. The increasing cases of low back pain which culminate in sciatica or wear and tear lead to conditions affecting the spine. Spinal implants are devices which are used in surgeries for joining two bones with the help of a bone graft. These implants can correct the spine and correct any deformities. The global spinal implants market report by Market Research Future (MRFR) contains developments in spinal devices and efforts to be taken by market players to sustain for the period between 2017 to 2023 (forecast period).
Factors driving the global market growth include demand for minimally invasive surgeries (MIS), development of cost-effective spinal implants, and rising prevalence of spinal conditions. Rise in orthopedic surgeries and the number of hospitals offering MIS is bound to culminate in high market growth.
Instances of low back pain after a certain age is likely to culminate in the need for diagnosis of the spine. According to the National Center for Health Statistics, one in every four individuals will suffer from chronic low back pain. This can lead to investigation among patients and drive the need for implants after considerable diagnosis and bode well for the market.
However, strict regulatory conditions for approval of implants, high procedural costs, and lack of reimbursement policies can hamper the market growth.
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Spinal Implants Market Segmentation
The global spinal implants market is segmented based on product, procedure, and material.
Based on product, the global spinal implants market is segmented into Vertebral Compression Fracture (VCF) treatment devices, spinal fusion devices, non-fusion devices/motion preservation devices, spinal bone stimulators, spine biologics, and others. The spine fusion devices segment is divided into interbody fusion devices, thoracolumbar devices, cervical fixation devices, and others.
The thoracolumbar devices segment is divided into wires and cables, anterior lumbar plates, lumbar plates, rods, hooks, crosslinks, pedicle screw, and others. The cervical fixation devices segment is further classified into anterior cervical plates, plates and screws, clamps, hook fixation systems, wires, and others. The interbody fusion devices segment is further segmented into bone interbody fusion devices, non-bone interbody fusion devices, and others.
The non-fusion devices/motion preservation devices segment is categorized into nuclear disc prostheses, annulus repair devices, dynamic stabilization devices, artificial discs, and others. The dynamic stabilization devices segment is further classified as facet replacement products, interspinous process spacers, pedicle screw-based systems, and others. The artificial discs segment is further classified into artificial lumbar discs, artificial cervical discs, and others.
The Vertebral Compression Fracture (VCF) treatment devices segment is categorized into vertebroplasty devices, balloon kyphoplasty devices, and others.
The spinal bone stimulators segment is categorized into non-invasive spine bone stimulators, invasive spine bone stimulators, and others. The non-invasive spine bone stimulators segment is further classified into Capacitive Coupling (CC) and Combined Magnetic Field (CMF) devices, pulsed electromagnetic field device, and others.
The spine biologics segment is further divided into spinal allografts, cell-based matrix, bone graft substitutes, and others. The spinal allografts segment is further classified into demineralized bone matrix, machined bones allograft, and others. The bone graft substitutes segment is further classified into synthetic bone grafts, bone morphogenetic proteins, and others.
Based on procedure, the global spinal implants market is classified into open surgery, minimally invasive surgery (MIS), and others.
Based on material, the global spinal implants market is segmented into plastic, titanium, titanium-alloy, stainless steel, and others.
Spinal Implants Market Regional Analysis
The global spinal implants market consists of four regions – Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA).
The Americas is expected to dominate the global market owing to technological breakthroughs in spinal implants and contribution of nanotechnology. Large number of surgeries and skilled personnel can contribute to the market growth. Furthermore, approval of medical devices by regulatory devices is a plus for the market. Heavy investments in R&D laboratories for improving the design of spinal implants can bring forth new opportunities to the global spinal implants market in the region.
Spinal Implants Market Competition Outlook
RTI Surgical, Inc., A-Spine, Centinel Spine, Spinal Solutions Inc., NLT Spine, Premia Spine, Globus Medical, Inc., AESCULAP, Life Spine, Integra LifeSciences, Accel Spine, Medtronic, plc, Alliance Spine, Paradigm Spine LLC, K2M Group Holdings, Inc., Spineart Geneva SA, Amedica Corporation, Apollo Spine, Zimmer Biomet Holdings, Inc., Back 2 Basics Spine, Precision Spine, Exactech Inc., SpineGuard, Quandary Medical LLC, LDR Holding Corporation, Ascendx Spine, Reliance Medical Systems, Depuy Synthes Inc., Stryker Corporation, Alphatec Holdings, Inc., NuVasive, Inc., Captiva Spine Inc., Spine Frontier, SI-BONE, and Orthofix International N.V. are prominent players of the global spinal implants market.
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