The global market size of spinal implants and surgical devices would cross US$ 17 billion by 2022 and is projected to register a CAGR of more than 5% in the forecast period. The growth of this market is largely influenced by increasing demand for minimally invasive spine surgeries, technical advancements in spine surgery devices, and growing aging and obese population with rising number of spine deformities. Opportunities such as emerging Asian and Latin American countries, increasing number healthcare providers and surgical centers, and commercial applications in high growth areas such as MIS, nucleus arthroplasty, artificial disc replacement, and stem cell technologies are driving the attention of global players in the market. However, the market is not above its restraining factors. Some factors hindering the growth of the market are stringent product approval process, uncertainty in reimbursement, high cost of treatment actions, and lack of sufficient physicians and patient awareness.
Players in the market engaged in the development and distribution of spinal implants and surgical devices are expanding their presence in emerging markets in Asia Pacific such as China and India. This is due to the rising government healthcare expenditure, growing income levels, presence of a large patient population, and rising obesity cases.
The global spinal implants and surgical devices market is segmented into technology, product, type, and region. The technology segment includes spinal fusion and fixation, spinal decompression, motion preservation/non-fusion, and spinal vertebral compression fracture treatment technologies. Under the product segment, it covers thoracic fusion & lumbar fusion, spine biologics, cervical fusion, vertebral compression fracture treatment, spinal decompression, non-fusion treatment devices and spine bone stimulators. By type, the market is further segmented as open invasive and minimally invasive. North America, Europe, Asia Pacific, Latin America, Middle East and Africa are the regional segmentation of the market. Each region is further segmented to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, India, Brazil, and the GCC countries.
A glimpse of the report structure is provided in the report description available on the website.
Key players profiled in the report include Medtronic, Stryker Corporation, Pioneer Surgical, NuVasive, DePuy Spine, Globus Medical, K2M, Orthofix International, TranS1, Amedica, Zimmer, LDR Holdings, Biomet Spine, Exactech, Integra LifeSciences, Alphatec Spine, Orthovita, and Synthes. A detailed competitive landscape of these companies is provided with company summary, financial summary, business strategy and planning, SWOT analysis and current developments.
The deep-dive study on the global spinal implants and surgical devices market will help customers with identifications of new market opportunities and targeted promotional plans.
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