17-May-2022 | Zion Market Research
The global spinal implants and surgical devices market was worth around USD 12,513.9 million in 2021 and is estimated to grow to about USD 17254.7 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.5 percent over the forecast period. The report analyzes the spinal implants and surgical devices market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the spinal implants and surgical devices market.
Spinal implants and surgical devices are used in the treatment of spinal disorders and injuries and have seen a substantial rise in demand in recent years. The demand is expected to be prominent in the forecast period as well as the number of spinal issues increases.
Increasing availability and rising awareness about spinal implants and surgical devices are expected to boost market potential over the forecast period. Lifestyle disorders and the prevalence of a sedentary lifestyle coupled with the increasing geriatric population are also expected to guide the spinal implants and surgical devices market growth through 2028.
The high costs associated with the spinal implants and surgical devices are expected to be a major restraining factor for the global spinal implants and surgical devices market and are anticipated to be prevalent over the forecast period. The spinal implants and surgical devices market will also be hampered by the unsure nature of treatment that these spinal implants and surgical devices offer.
The pandemic of 2020 led to a downfall in the global spinal implants and surgical devices market owing to changing trends under the increasing coronavirus infections. The spinal implants and surgical devices market experienced losses in lieu of restricted manufacturing as well as sales activity in 2020.
The spinal implants and surgical devices market is anticipated to make a strong comeback in the post-pandemic era as the world returns to normal and focus on spinal surgeries get back to normal. The demand for spinal implants and surgical devices will also be high from the increased geriatric population of the world that was left untreated in the pandemic. The postponed surgeries are expected to majorly drive the spinal implants and surgical devices market potential in the post-pandemic era.
The global spinal implants and surgical devices market is segregated based on product, type of surgery, end user, and region. Based on product, the global market is Thoracic Fusion and Lumbar Fusion Devices, Cervical Fusion Devices, Spine Biologics, Vertebral Compression Fracture Treatment Devices, Spinal Decompression Devices, Non-Fusion Devices, and Spine Bone Stimulators. The Thoracic Fusion and Lumbar Fusion Devices segment is expected to hold a dominant outlook over the forecast period. Rising instances of lumbar degenerative disc diseases and increasing launches of new devices and products will further bolster the growth of this segment.
Asia Pacific region is expected to hold a dominant outlook in the global spinal implants and surgical devices industry landscape owing to rising instances of spinal disorders and injuries in this region. Increasing investments in the development of healthcare infrastructure, supportive government initiatives, and favorable reimbursement policies are some major trends that will drive the spinal implants and surgical devices market potential in the Asia Pacific region. The emerging economies of China and India are expected to exhibit lucrative opportunities for spinal implants and surgical devices market players owing to increasing focus on healthcare and supportive government initiatives to boost awareness of spinal disorders and treatments.
Key players functioning in the global spinal implants and surgical devices market include Laboratories, B. Braun (B. Braun Holding GmbH & Co. KG), Boston Scientific, Depuy Synthes (Johnson & Johnson), Exactech Inc. (Choice Spine), Globus Medical Inc., Integra LifeSciences Holdings Corporation, Medtronic Plc, Nuvasive Inc. (Smith & Nephew Plc), Orthofix Medical Inc., RTI Surgical Inc., Stryker Corporation and Zimmer Biomet Holdings Inc.
Browse the full “Spinal implants and surgical devices Market By Product (Thoracic Fusion and Lumbar Fusion Devices, Cervical Fusion Devices, Spine Biologics, Vertebral Compression Fracture Treatment Devices, Spinal Decompression Devices, Non-Fusion Devices, Spine Bone Stimulators), By Type of Surgery (Open Surgeries, Minimally Invasive Surgeries), By End user (Hospitals, Ambulatory Surgery Centers, Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/spinal-implants-surgical-devices-market
Global spinal implants and surgical devices market is segmented as follows:
By Type of Surgery
By End user
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