According to Emergen Research, the global spinal surgery devices market size was USD 10.22 billion in 2019 and is expected to reach USD 14.70 billion in 2027 and register a revenue CAGR of 4.6% during the forecast period, 2020-2027.
According to Emergen Research, the global spinal surgery devices market size was USD 10.22 billion in 2019 and is expected to reach USD 14.70 billion in 2027 and register a revenue CAGR of 4.6% during the forecast period, 2020-2027.
Market Dynamics:
Spinal implants are medical devices used to correct spinal deformities, stabilize and strengthen the spine, and enhance fusion of broken bones. Spondylolisythesis, fracture, scoliosis, and degenerative disc disease are some diseases treated by spinal implants and surgery devices. Spinal implants are mostly used for treatment of disorders such as symptomatic degeneration of intervertebral disc that are not responsive to conservative treatment, vertebral fractures, bone tumors, and spinal deformities.
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Increasing incidence of adult and adolescent scoliosis, rising use of biomaterials in spinal implants, and increasing affordability of spinal fusion surgeries are key factors expected to drive market revenue growth over the forecast period. Spinal implants are often permanently implanted due to difficulty of removing them during second surgery. Titanium alloys are commonly used for spinal implants due to their biocompatibility and compatibility with MRI. Over the recent years, increasing research and development activities have been carried out to discover new materials for spinal implants and this is another factor expected to contribute to market revenue growth going ahead.
Spinal implants and surgery devices are used to stabilize the unstable spine structure caused by trauma or slipped disc that originates from degenerative intervertebral disks. Surgical stabilization is often carried out through anterior or posterior approach. Over the recent past, increasing research has been carried out to develop more precise screw insertion techniques to improve efficiency of surgical procedures and this is expected to continue to drive market revenue growth going ahead. Increasing use of PEEK as spinal implants due to its high strength, biocompatibility, stiffness, and durability have further boosted demand for spinal implants. Introduction of newer models of spinal rods, plates, screws, and other devices that can sustain enough load have further boosted application of spinal implants and is expected to contribute to market revenue growth going ahead. However, high costs of spinal surgeries, certain risks associated with spinal fusion surgery such as limited mobility and potential complications, and low availability favorable healthcare policies in developing and underdeveloped countries are some key factors expected to hamper market revenue growth to a certain extent going ahead.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Spinal Fusion and Fixation Segment to Account for a Significantly Large Revenue Share:
Spinal fusion and fixation segment is expected to account for significantly large revenue share over the forecast period attributable to increasing incidence of spinal disorders among geriatric population, rising demand for advanced devices and surgical implants, and numerous benefits of spinal fusion such as reduced loss of blood, minimally-invasive nature, and decreased hospital stay.
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Minimally Invasive Surgery Segment to Register Rapid Revenue CAGR:
Minimally invasive surgery segment is expected to register rapid revenue CAGR over the forecast period attributable increasing patient preference for minimally invasive procedures due to lesser surgical scars, reduced hospital stay, and faster recovery period, availability of cost-effective procedures, and accessibility to minimally invasive surgeries in outpatient departments.
North America to Lead in Terms of Revenue Share:
North America is expected to dominate other regions in terms of revenue share over the forecast period attributable to availability of advanced healthcare facilities, increasing geriatric population and subsequent rise in spinal disorders, availability of favorable reimbursement policies, and presence of a large network of hospitals and clinics. In addition, rapid technological advancements and increase in R&D activities to develop better products, and presence of key market players in the region are some other key factors expected to drive market revenue growth in the region.
Major Companies in the 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
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For the purpose of this report, Emergen Research has segmented the global spinal implants and surgery devices market on the basis of product type, technology, surgery type, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Thoracic Fusion & Lumbar Fusion Devices
- Posterior
- Interbody
- Cervical Fusion Devices
- Anterior
- Posterior
- Spine Biologics
- Vertebral Compression Fracture Treatment Devices
- Spinal Decompression Devices
- Spine Bone Stimulators
- Invasive
- Non-Invasive
- Non-Fusion Devices
- Dynamic Stabilization Devices
- Artificial Discs
- Annulus Repair Devices
- Nuclear Disc Prostheses
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Spinal Fusion & Fixation
- Vertebral Compression Fracture Treatment
- Spinal Decompression
- Motion Preservation
Surgery Type Outlook (Revenue, USD Billion; 2017-2027)
- Open Surgery
- Minimally Invasive Surgery
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
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