The growing geriatric population is one of the significant factors influencing the Spinal Implants and Surgery Devices Market growth
Vancouver, Nov. 16, 2023 (GLOBE NEWSWIRE) — The global spinal implants and surgery devices market is projected to be worth USD 18.41 Billion by 2032, according to a current analysis by Emergen Research. The spinal implants and surgical devices market is observing high demand attributed to the growing geriatric population. The growing geriatric population is a major factor stimulating market demand. It has been estimated that by 2050 approximately 16.0% of the global population will be aged more than 65 years, which is expected to increase five-fold since 1950. Aging, among other factors, is responsible for facet joints deterioration causing many spinal disorders. Thus, the rising incidence of spine problems in the growing geriatric population is estimated to boost the growth of the spinal implants and surgical devices market in the forecast period.
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Scope of Research
|Market size value in 2019||USD 10.22 Billion|
|CAGR (2023 – 2032)||4.6%|
|Revenue forecast in 2032||USD 18.41 Billion|
|Base year for estimation||2022|
|Forecast period||2023 – 2032|
|Quantitative units||Revenue in USD Millions, and CAGR from 2023 – 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Product type, technology, surgery type, end-user, region|
|Regional scope||North America; Europe; Asia Pacific; Central & South America; MEA|
|Country scope||U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey|
|Key companies profiled||Stryker Corporation, RTI Surgical Inc., Nuvasive Inc., Zimmer Biomet Holdings Inc., Boston Scientific, Depuy Synthes, B. Braun Melsungen, Abbott Laboratories, Orthofix International NV, and Medtronic PLC|
|Customization scope||10 hrs of free customization and expert consultation|
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Major Companies and Competitive Landscape
The leading players in the spinal implants and surgery devices market are equipped with enhanced production facilities and are involved in various R&D activities. A few leading players in the spinal implants and surgery devices market include:
- Stryker Corporation
- RTI Surgical Inc.
- Nuvasive Inc.
- Zimmer Biomet Holdings Inc.
- Boston Scientific
- Depuy Synthes
- B. Braun Melsungen
- Abbott Laboratories
- Orthofix International NV
- Medtronic PLC
In March 2019, RTI Surgical Holdings, Inc., a firm involved in surgical implant, made an announcement about the completion of the acquisition of Paradigm Spine, LLC, involved in non-fusion and motion preservation spinal implant technology.
In August 2019, NuVasive, Inc., a leading spine technology innovation firm, made an announcement about the commercial introduction of titanium spinal implant, Modulus® TLIF-A, for use in transforaminal lumbar interbody fusion procedure.
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Some Key Highlights from the Report
- Ambulatory surgical centers provide enhanced control to surgeons in spine biologics practices than other end-users such as hospitals by permitting to create a specialist team and benefit from the groundbreaking devices to achieve the optimal treatment outcomes.
- The benefit of anterior cervical fusion and decompression procedure is to eradicate unnecessary motion and offer spinal stability by eliminating damaged discs and substituting with new bones that naturally grafts with each other..
- The spinal implants and surgery devices market in the Asia Pacific region is estimated to witness the fastest CAGR in the period 2023-2032. Surging developments in healthcare facilities, the presence of a large pool of patients, and increasing healthcare expenses in developing nations such as India and China to cater to unmet medical needs is driving the spinal implant and surgery devices market growth.
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Emergen Research has segmented the global spinal implants and surgery devices market on the basis of product type, technology, surgery type, end-user, and region:
- Product Type Outlook (Revenue, USD Billion; 2019-2032)
- Thoracic Fusion & Lumbar Fusion Devices
- Cervical Fusion Devices
- Spine Biologics
- Vertebral Compression Fracture Treatment Devices
- Spinal Decompression Devices
- Spine Bone Stimulators
- Non-Fusion Devices
- Dynamic Stabilization Devices
- Artificial Discs
- Annulus Repair Devices
- Nuclear Disc Prostheses
- Thoracic Fusion & Lumbar Fusion Devices
- Technology Outlook (Revenue, USD Billion; 2019-2032)
- Spinal Fusion & Fixation
- Vertebral Compression Fracture Treatment
- Spinal Decompression
- Motion Preservation
- Surgery Type Outlook (Revenue, USD Billion; 2019-2032)
- Open Surgery
- Minimally Invasive Surgery
- End-User Outlook (Revenue, USD Billion; 2019-2032)
- Specialty Clinics
- Ambulatory Surgical Centers
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
- North America
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