Spinal implants and surgical devices Market Size, Share, Growth Report 2032

Spinal implants and surgical devices Market

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

Category: Medical Device Report Format : PDF Pages: 155 Report Code: ZMR-2333 Published Date: May-2022 Status : Published

The global spinal implants and surgical devices size 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.

Spinal implants and surgical devices Market

Spinal implants and surgical devices Market Size And Forecast

The global spinal implants and surgical devices market size 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 Market: Overview

Spinal implants and surgical devices are used in the treatment of spine injuries and spine disorders and are crucial to their treatment procedures. There has been an increase in instances of spine disorders over the past few years and this has majorly driven the demand for spinal implants and surgical devices and is expected to be the same for the forecast period.  

Lifestyle disorders and an increasingly sedentary lifestyle have been deemed as the major cause for increasing instances of spinal diseases and this is expected to majorly drive the spinal implants and surgical devices market potential over the forecast period. The increasing geriatric population will also boost the spinal implants and surgical devices market potential.

However, the high costs of these spinal implants and surgical devices and the unsurety of the credibility of treatment via these are expected to have a hindering effect on the global spinal implants and surgical devices market through 2028.

COVID-19 Impact:

The COVID-19 pandemic led to a shift in focus in the healthcare industry and this trend led to negative growth in the spinal implants and surgical devices market. The spread of coronavirus infections led to a stop in procedures for other diseases and this negatively impacted multiple markets this was the same for the spinal implants and surgical devices market as well.  

Lapses in manufacturing also had a restraining effect on the spinal implants and surgical devices market potential in 2020. The spinal implants and surgical devices market is expected to make a steady comeback in the post-pandemic era as the focus on healthcare procedures will be restored to its normal balance with decreasing coronavirus infections across the world. Increased focus on healthcare will majorly boost the spinal implants and surgical devices market potential over the forecast period.

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Spinal implants and surgical devices Market: Growth Drivers

Increasing Instances of Spinal Disorders

Spinal diseases and spinal disorders have seen a substantial rise in recent times and this has propelled the demand for spinal implants and surgical devices. The spinal implants and surgical devices market is expected to be benefitted from the growing geriatric population as well which is more prone to spinal injuries due to weak bones. The increasing availability of treatment procedures and favorable reimbursement policies are expected to boost the spinal implants and surgical devices market potential over the forecast period.

Spinal implants and surgical devices Market: Restraints

High Costs to Restrain growth

Spinal implants and surgical devices are usually priced at a higher price point and this is expected to hinder the spinal implants and surgical devices adoption over the forecast period. Moreover, uncertainty in treatment success is also expected to have a negative impact on the spinal implants and surgical devices market potential. Spinal implants and surgical devices companies are focusing on solving this issue to boost revenue generation potential through 2028.  

Global Spinal Implants and surgical devices Market: Segmentation

The global spinal implants and surgical devices market is segregated based on product, type of surgery, end user, and region.

By End user, the spinal implants and surgical devices market is segmented into Hospitals, Ambulatory Surgery Centers, and Others. The hospital segment is anticipated to hold a dominant outlook over the forecast period owing to the rising number of spinal surgeries being performed in hospital environments.

Report Scope:

 

Recent Developments

  • In 2020 –  Medtronic a leading name in healthcare industry announced the acquisition of Stimgenics a United States based medical company that is responsible for pioneering novel spinal cord stimulation (SCS).

Regional Landscape

Asia Pacific region leads the global spinal implants and surgical devices market and is expected to rise at the fastest CAGR of all regions. Increasing cases of spinal injuries and spinal disorders, rising development of healthcare infrastructure, and increasing investments in research and development of spinal implants and surgical devices are major factors that will boost the spinal implants and surgical devices market potential through 2028. Increasing awareness for spine treatments and the rising availability of spine treatments will also influence spinal implants and surgical devices market growth. India and China are expected to be the most lucrative market for spinal implants and surgical devices manufacturers over the forecast period owing to rising investments in the development of healthcare infrastructure of these countries.

The market for spinal implants and surgical devices in North America is also expected to show beneficial opportunities owing to the presence of developed healthcare infrastructure and favorable reimbursement policies by healthcare providers and government. The United States is projected to be the most lucrative market in this region.

Competitive Landscape

Some of the main competitors dominating 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.

Global spinal implants and surgical devices market is segmented as follows:

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

By Region

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

Table Of Content

Methodology

Free Analysis

FrequentlyAsked Questions

Increasing instances of spinal disorders, rising availability of spinal treatments, and favorable reimbursement policies are some major trends that guide spinal implants and surgical devices market growth.

According to the Market Research report, the global spinal implants and surgical devices market size was worth about US$ 12,513.9 million in 2021 and is predicted to grow to around US$ 17254.7 million by 2028, with a compound annual growth rate (CAGR) of around 5.5 percent.

Asia Pacific region leads the global spinal implants and surgical devices market and is expected to rise at the fastest CAGR of all regions. Increasing cases of spinal injuries and spinal disorders, rising development of healthcare infrastructure

Some of the main competitors dominating 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.

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