Innovations in Spine Surgeries driving Spine Implant Market
Arizton’s recent market research report on the global spinal implant market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by products (spinal fusion implants, spine biologics, VCF treatment devices, spinal non-fusion implants, and spine bone growth electrical stimulation devices), end-users (hospitals, specialty orthopedic and spine centers, and ambulatory surgical centers (ASCs)), surgery (open spine and minimally invasive spine), and geography (North America, APAC, Europe, Latin America, and MEA).
The global spine implant market is expected to reach over $12 billion in 2024.
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Spinal implants are medical devices used majorly to correct spine deformities, strengthen and improve the spine stability, facilitate the fusion of two vertebrae, and treat spine fractures. The spine implant market is one of the major segments of the orthopedic market accounting for a share of around 23%. According to the National Institute of Neurological Disorders and Stroke (NINDS) around 80% of adults experience low back pain at some point of time in their life.
The leading drivers and trends propelling the growth of the spine implant market are discussed below:
High Prevalence of Spine Disorders and Injuries
Spine disorders (SD) are witnessing an increased globally due to the high prevalence of degenerative disc diseases, disc herniation, spinal stenosis, spondylolisthesis, and scoliosis. It has reported that approximately 266 million individuals suffer from degenerative spine diseases (DSDs) annually across the globe. Spinal stenosis is the most common health challenge among men and women over 50 years. The aging population is at a high risk for spinal impairments. Around 1.6 million patients are diagnosed with lumbar spinal stenosis annually in the US. According to the WHO, the number of people suffering from spinal cord injuries worldwide is between 250,000 and 500,000. Hence, the high prevalence of spine disorders and the increase in the elderly population are significantly contributing to the growth of the global spine implant market.
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Growth of Bioabsorbable Spine Implants
The usage of bioabsorbable is growing in cardiovascular and orthopedic surgeries, and the potential advantage of bioabsorbable materials is now recognized in spine treatments as well. Bioabsorbable implants, which are biodegrade and resorbed inside the body, are currently gaining significant widespread attention among researchers. Bioabsorbable materials play a significant role in specific spinal reconstructive procedures with improved image assessment and fusion healing properties. In the spine implant market, Inion is offering Inion S-1 and Inion S-2 bioabsorbable spine implant systems. The Inion S-2 bioabsorbable spine implant system is indicated for spinal fusion procedures and offers fully absorbable properties.
Availability of Innovative Spine Implants
The spine implant market has been witnessing several innovations and is likely to observe major changes in terms of product designs, material usage, and spine surgery techniques. Vendors are developing technological advance spine implants to address the prevailing demand for treating spinal disorders, especially spine fusion surgeries. Vendors are also focusing on the development of devices that are compatible for minimally invasive spine procedures. Vendors’ growing focus on technological advancements and improvements have led to the launch of many innovative devices, leading to an increase in demand for such devices, thereby contributing to the growth of the global spine implant market.
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Medtronic, Johnson & Johnson (DePuy Synthes), Stryker, NuVasive, Globus Medical, and Zimmer Biomet are identified as prominent vendors in the spine implant market.
The complete overview of the latest market research report on the global spine implant market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges, and provides market sizing and forecast for major geographical regions and key countries.
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