Spinal Implants and Spinal Devices Market By Technology (Fusion, Spine Biologics, VCF, Decompression, Motion Preservation), By Product (Thoracic Fusion and Lumbar Fusion Devices, Cervical Fusion Devices, Vertebral Compression Fracture Treatment Devices, Spinal Biologics, Non-fusion Devices, Spine Bone Stimulators, and Other Products), By Type (Open, MIS) )and By Region - Market Trends, Analysis, and Forecast till 2030

Spinal Implants and Spinal Devices Market accounted for USD 11900.9 Million in 2020 and is estimated to be USD 19869.10 Million by 2030 and is anticipated to register a CAGR of 5.30%.

Spinal implants are devices that help to fuse the spine and increase its stability, as well as strengthen it and correct spinal level defects. Scoliosis, spondylolisthesis, kyphosis, and fracture are all conditions treated by spinal implants. Its major purpose is to assist in the fusion of two vertebrae and the replacement of native disc material. This treatment involves immobilizing vertebrae in order to remove or greatly minimize pain caused by aberrant vertebral movement. With the emergence of new age spine implants and technology, spine level therapy choices are always expanding. Furthermore, the usage of these implants and devices is one of the most successful and well-recommended treatments for spine misalignments and degenerative alterations. COVID-19, a coronavirus disease, has spread over the world. Furthermore, as the number of corona virus patients has increased, governments around the world have implemented a variety of regulations and lockdowns, resulting in the closure of manufacturing and production operations of enterprises in the spinal implant and device industry. In addition, while practitioners and surgeons focus on treating corona patients, hospitals have separately declared a reduction, deferral, or cancellation of elective procedures, including many orthopedic and spine cases. This break in the flow of business operations and other relevant activities has a direct impact on market revenue drift. As a result, the aforementioned factors are projected to restrain the growth of the spinal implant and device market throughout the forecast period.

Degeneration of the spine and an increase in spinal illnesses will drive the growth of the Market

Degeneration of the spine and an increase in spinal illnesses are linked to population ageing. One of the main drivers of growth is a shift in lifestyle that has resulted in an increase in obesity among the population. During the projected period, the rising occurrence of spine injuries is expected to contribute to the market's growth. For instance, According to the National Spinal Cord Injury Statistical Center, the yearly incidence of spinal cord injuries in the United States was around 54 instances per million people in 2016, or around 17,000 new cases each year. According to WHO estimates from 2013, between 250,000 and 500,000 persons worldwide suffer from spinal cord injuries each year. Accidents on the road, falls, violence, and sporting activities are all common causes of these injuries. Furthermore, the demand for these implants and devices is expected to be driven by the development of novel and effective technologies in spine care.

Degenerative disc disorders are the major cause of back and neck discomfort and are one of the most commonly diagnosed conditions. Low back pain affects around 31 million people in the United States at any given moment, according to the American Chiropractic Association. In addition, the United States spends an estimated USD 50 billion each year on back pain therapy. In the coming years, degenerative conditions and related back symptoms are projected to drive up demand for these implants and devices. Manufacturers in this market are working on introducing new technologies to produce less invasive techniques, reduce postoperative pain and complications, and enable speedier recovery. The presence of several market companies focused on the development of successful technologies in spine treatments, as well as expanding research in the field of spine care, are some of the other factors that contribute to the market's growth.

Spinal Implants and Spinal Devices Market is segmented based on technology, product, type and region.

On the basis of Technology, the Spinal Implants and Spinal Devices Market is segmented into Fusion, Spine Biologics, VCF, Decompression, Motion Preservation. Based on Product, the target market is segmented into Thoracic Fusion and Lumbar Fusion Devices, Cervical Fusion Devices, Vertebral Compression Fracture Treatment Devices, Spinal Biologics, Non-fusion Devices, Spine Bone Stimulators, and Other Products. Based on Type, the target market is segmented into Open, MIS.

Regional Insights:                                                 

On region the Spinal Implants and Spinal Devices Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. With the largest market share in 2020, North America dominated the industry of spinal implants and spinal devices. Increased spinal cord injury cases, improved healthcare facilities, and the presence of various organizations such as the North American Spine Foundation for raising awareness and providing education to healthcare professionals and the general public are all factors that contribute to its large share. The United States is the region's and the world's largest market. The substantial market share is due to an increase in demand for spine procedures, as well as a rise in the occurrence of spine injuries in this region. For instance, According to the National Spinal Cord Injury Statistical Center, there were roughly 285,000 spinal cord injuries in the United States in 2017. With a growth rate of 7.6%, the Asia Pacific market is expected to develop the quickest over the projected period.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the Global Spinal Implants and Spinal Devices Market report based on Technology, Product, Type and region.

Spinal Implants and Spinal Devices Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating in the Spinal Implants and Spinal Devices market are LDR Holding Corporations, Orthofix International N.V., Alphatec Spine, Globus Medical, Inc., Zimmer Biomet Holdings, NuVasive, Inc., Stryker Corporation, DePuy Synthes, and Medtronic. These key players focus on increasing the R&D initiatives to enhance the spine care treatments.

• LDR Holding Corporations
• Orthofix International N.V.
• Alphatec Spine
• Globus Medical, Inc.
• Zimmer Biomet Holdings
• NuVasive, Inc.
• Stryker Corporation
• DePuy Synthes