Spinal Implants Market Overview:
Spinal implants are useful for the treatment of spinal deformities. Market Research Future (MRFR) has published a research report about the global spinal implants market that infers boost with 5.5% CAGR during the forecast period between 2022 and 2027.
Factors that are enhancing the market growth for spinal implants include the development of safer technology, innovation of cost-effective spinal devices, and increasing demand for minimally invasive spine surgery. However, some factors that can hamper the growth of the market include lack of reimbursements in developing countries, high procedural costs, and stringent regulatory guidelines for the approval of new medical devices.
The key players in the global Spinal Implants Companies include Accel Spine (USA), AESCULAP (USA), Alliance Spine (USA), Alphatec Holdings, Inc. (the USA), Amedica Corporation (USA), Apollo Spine (USA), Ascendx Spine (USA), A-Spine (Taiwan), Back 2 Basics Spine (Canada), Captiva Spine Inc. (USA), Centinel Spine (USA), Depuy Synthes Inc. (Johnson & Johnson) (USA), Exactech Inc. (USA), Globus Medical, Inc. (USA), Integra LifeSciences (USA), K2M Group Holdings, Inc. (the USA), LDR Holding Corporation (USA), Life Spine (USA), Medtronic, plc (Ireland), NLT Spine (USA), NuVasive, Inc. (the USA), Orthofix International N.V. (Netherlands), Paradigm Spine LLC (USA), Precision Spine (USA), Premia Spine (Israel), Quandary Medical LLC (USA), Reliance Medical Systems (USA), RTI Surgical, Inc. (USA), SI-BONE (USA), Spine Frontier (USA), Spineart Geneva SA (Switzerland), SpineGuard (France), Spinal Solutions Inc. (USA), Stryker Corporation (USA), and Zimmer Biomet Holdings, Inc. (USA).
The global Spinal Implants Market has been segmented on the basis of material, procedure, product, and lastly region. Material based segmentation of this market segments the market into plastic, stainless steel, titanium, titanium alloy, and others. Based on the procedure, the market has been segmented into minimally invasive surgery (MIS), open surgery, and others.
The product-based segmentation covers spine biologics, spinal bone stimulators, spinal fusion devices, non-fusion devices/motion preservation devices, Vertebral Compression Fracture (VCF) treatment devices, and others. Spine Biologics have been sub-segmented into bone graft substitutes, cell-based matrix, and spinal allografts. The bone graft substitutes have been further segmented into bone morphogenetic proteins and synthetic bone grafts. The further segmentation of spinal allografts covers demineralized bone matrix and machined bones allograft.
The spinal bone stimulators have been sub-segmented into invasive spine bone stimulators and non-invasive spine bone stimulators. The non-invasive spine bone stimulators have been further segmented into capacitive coupling (CC) & combined magnetic field (CMF) device, and a pulsed electromagnetic field device.
The spine fusion devices segment has been sub-segmented into cervical fixation devices, interbody fusion devices, thoracolumbar devices, and others. Cervical fixation devices have been further segmented into anterior cervical plates, clamps, hook fixation systems, plates & screws, and wires. Interbody fusion devices have been further segmented into bone interbody fusion devices and non-bone interbody fusion devices. Thoracolumbar devices have been further segmented into anterior lumbar plates, crosslinks, hooks, lumbar plates, pedicle screw, and wires & cables.
Non-fusion devices/motion preservation devices have been sub-segmented into annulus repair devices, artificial discs, dynamic stabilization devices, and nuclear disc prostheses. Artificial discs have been further segmented into artificial cervical discs and artificial lumbar discs. Dynamic stabilization devices have been further segmented into facet replacement products, interspinous process spacers, and pedicle screw-based systems. VCF treatment devices have been further segmented into balloon kyphoplasty devices and vertebroplasty devices.
The regional segmentation of the global spinal implants market has segmented the market on the basis of continents named The Americas (North America & South America), Europe, Asia Pacific, and the Middle East and Africa (MEA). The Americas dominate the global spinal implants market due to the advancement in manufacturing processes, the contribution of nanotechnology to the pharmaceutical packaging market, and technological innovation. Due to the availability of advanced technology and the best medical facilities, North America is a bigger market than South America. In this region, the most important country-specific markets are the United States of America (USA) and Canada. Many key players in the market are based in the USA. In South America, the strongest economies that can emerge as lucrative markets someday are Argentina and Brazil.
Europe is an important market because, after North America, it is the most technologically advanced market. Due to the reasons same as the Americas, Western Europe is a bigger market than Eastern Europe. In Western Europe, the most significant country based markets are France, Germany, Italy, Spain, and the United Kingdom (UK), followed by the rest of Western Europe. In Europe, the spinal implants market is growing due to due to its increasing geriatric population and the growing demand by geriatric people for the spinal implants and devices.
According to the report, Asia Pacific is an emerging market due to the rapid urbanization and the gradual increase in obesity which has led to increased spinal disorders. The most important factors that are creating the demand for spinal implants and driving the market include advanced treatments, increasing awareness with regards to spinal problems and novel spine treatment techniques, increasing healthcare expenditure, and increasing government support for advanced healthcare technologies. The primary country-specific markets in this region are Australia, China, India, Japan, and South Korea, followed by the rest of the Asia Pacific region.
In the MEA region, the market is small and limited. Reasons for the limited market growth in this region are lack of awareness, lack of education, lack of technological development, political instability and healthcare not being considered a priority by the government. In this region, the maximum revenue is generated by the country-specific markets namely Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (UAE), followed by the rest of the MEA region.
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