Spinal Implants and Devices Market Size
The Global Spinal Implants And Devices Market reached USD 12.6 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 18.7 billion by 2031. The global spinal implants and devices market is expected to exhibit a CAGR of 5.2% during the forecast period (2024-2031). The global spinal implants and devices market has grown significantly in recent years and is projected to continue on its upward trend.
The market is currently going through a period of significant change that is being fueled by a number of trends, such as the minimally invasive procedures, use of 3D printing technology, robotics and navigation systems, and traction towards bioresorbable implants.
Furthermore, the increasing prevalence of spinal disorders, growing aging population, increasing awareness and diagnosis, rising obesity problems, and technological advancements are driving up the size of the spinal implants and devices market. Due to continuous research and developments by the introduction of novel implants, and technologies, the market is seeing an increase in demand from North American regions with significant competitors like Medtronic plc, DePuy Synthes, Inc., Stryker Corporation, and others actively operating in the market.
Market Scope
| Metrics | Details |
| CAGR | 5.2% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Product, Technology, Surgery, Procedure, End User, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Infection Type Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Growing Geriatric Population to Drive the Growth of the Spinal Implants And Devices Market
The global spinal implants and devices market is being driven by an aging population. Individuals are more likely to develop spinal disorders and conditions as they age due to the natural wear and tear of the spine over time. Because of this increased sensitivity to spine disorders, there is a greater demand for spinal therapies, such as the use of implants and devices.
For instance, according to World Health Organization (WHO) 2022 report, by 2030, about one out of every six people on the planet will be 60 or older. Within this time span, the share of the world population aged 60 and up is expected to increase from 1 billion in 2020 to 1.4 billion.
Increasing Prevalence of Chronic Back Pain will Drive the Demand for Spinal Implants And Devices Market
Chronic back pain is a major driver of the global spinal implants and devices market. Chronic back pain is becoming more common globally as a result of factors such as sedentary lifestyles, an aging population, and job dangers. This persistent and debilitating ailment severely disrupts patients' everyday functioning and quality of life, prompting them to seek appropriate therapy. These implants and devices provide the spine with stability, decompression, and structural support, offering long-term pain relief and regaining functionality.
For instance, according to StatPearls National Library of Medicine 2023 Journal, back pain is prevalent among the adult population. According to research, up to 23% of the world's adults suffer from chronic low back discomfort. This cohort likewise has a one-year recurrence rate ranging from 24% to 80%. Some estimates of lifetime prevalence in the adult population are as high as 84%.
High Cost of Treatment will Hamper the Growth of the Market
The high cost of spinal implant treatments is one of the main restraints in the global market for spinal implants and devices. In addition to the price of the implants themselves, these operations also incur fees for hospital stays, surgical supplies, anesthesia, and post-operative care. Spinal implant treatments can be financially draining for patients and healthcare systems due to the high cumulative costs.
For instance, the cost of a spinal implant can range from $1,843 for a single pedicle screw to $2,388 for an anterior cervical plate to $7,200 for a transforaminal lumbar interbody fusion cage. For anterior cervical plates, the average cost per item ranged from $540 to $2,388, and for interbody cages, the average cost per item was $7,200. Considering these factors, the high treatment costs limit access to spinal implants and devices, thereby affecting market growth.
Market Segment Analysis
The global spinal implants and devices market is segmented based on product, technology, application, end user, and region.
Owing to the Effectiveness, the Minimally Invasive Surgery Segment Accounted for Approximately 32.2% of the Spinal Implants And Devices Market Share
The Minimally Invasive Spine (MIS) procedures segment's dominance in the global spinal implants and devices market is fueled by a number of factors. Minimal-invasive procedures use smaller incisions, specialized devices, and enhanced imaging techniques to provide various benefits over standard open surgery.
MIS procedures are conducted to stabilize the vertebral bones, and spinal joints, and relieve pressure on the spinal nerves caused by disorders such as spinal instability, bone spurs, ruptured discs, scoliosis, or spinal tumors. The high prevalence of spinal problems and the growing desire for appropriate surgical treatments are driving the segment's rise. Furthermore, the growing acceptance of minimally invasive spine operations is propelling the segment's growth.
For instance, according to a study released in January 2022 by the NCBI, the global incidence of herniated discs varied from 5 to 20 instances per 1000 persons per year, with an estimated prevalence of symptomatic herniated discs in the lumbar spine affecting 1%-3% of patients. These high rates of spinal problems highlight the growing need for minimally invasive spine operations, which boosts the segment's growth potential. Thus owing to the above factors, the segment will continue to dominate the market over the forecast period.
Market Geographical Share
North America Accounted for Approximately 39.4% of the Market Share in 2022, Owing to the Technological Advancements and Better Government Initiatives
The increasing obesity rate in North America is a major driving force in the global spinal implants and devices industry. Obesity increases the possibility of spinal disorders, increasing the demand for interventions such as spinal implants and devices. Obesity increases the occurrence of spinal problems, needing surgical procedures. Obese people frequently require specialized implants and technologies to accommodate their particular anatomical problems.
For instance, according to Centers for Disease Control and Prevention 2023 statistics, obesity affects approximately 100.1 million adults (41.9% of the adult population) and 14.7 million children (19.7% of the child population) in the United States. These figures indicate the country's high rate of obesity among both adults and children. Furthermore, obesity has a significant economic impact, costing around $147 billion in annual healthcare costs.
Moreover, the emphasis on weight loss and greater mobility creates even more demand for spinal implants and gadgets. The well-developed healthcare infrastructure and high healthcare expenditures in North America contribute to better access to surgical treatments, which supports regional market growth. Overall, these factors establish North America as a leading region in the field of spinal implants and devices.
Spinal Implants and Devices Companies
The major global players in the spinal implants and devices market include Medtronic plc, DePuy Synthes, Inc., Stryker Corporation, Boston Scientific Corporation, NuVasive, Inc., Zimmer Biomet Holdings, Inc, Globus Medical, Inc, Alphatec Spine, Inc, Orthofix International N.V, and LDR Holding Corporation among others.
Russia Ukraine Conflict Analysis
The ongoing Russia-Ukraine conflict has the potential to have a wide-ranging influence on the global spinal implants and devices market. Potential effects include interrupted supply networks, which could lead to product shortages or delays. Geopolitical tensions cause market volatility, forcing investors and stakeholders to be cautious. The strain on both countries' healthcare systems may redirect resources away from elective surgeries, limiting access to spinal implant procedures.
Changes in healthcare goals and budget allocation may cause market dynamics to fluctuate, influencing demand for spinal implants and equipment. The amount and duration of the conflict, as well as geopolitical and economic considerations, will affect regional market impact variations. Monitoring the situation and adapting strategies accordingly is vital for companies operating in this market.
Key Developments
- On April 27, 2022, Spinal Simplicity, a medical device company, launched the Minuteman G5 implant. The Minuteman is a minimally invasive interspinous-interlaminar fusion device designed for thoracic, lumbar, and sacral spine fixation and stabilization while bony fusion occurs.
- On August 23, 2022, Nexus Spine, a biomechanically enhanced spinal pathology solution developer, announced the full commercial launch of its PressON posterior lumbar fixation device. PressON rods press onto pedicle screws rather than being attached with set screws. This unique design is around one-quarter the size of typical systems, is faster to the implant, is biomechanically stronger, avoids the potential of set screw loosening, and allows for intraoperative rod assembly.
- On June 21, 2022, ChoiceSpine LLC, a US privately-held spinal implant company, and eCential Robotics, a French growth company that designs, manufactures, and markets the first unified 2D/3D robotic imaging and surgical navigation system for bone surgery indications, announced their long-term partnership to offer a common optimized solution. This system integrates navigation, robotics, and implant systems that are simple to use, precise for spine surgeons, and beneficial to patients.
Why Purchase the Report?
- To visualize the global spinal implants and devices market segmentation based on product, technology, application, end user, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of spinal implants and devices market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global spinal implants and devices market report would provide approximately 53 tables, 54 figures and 195 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
