Spinal Implants and Devices Market Is Expected to See Extensive Worldwide Growth

The transition to minimally invasive spinal surgery (MIS) offers a significant opportunity for key players in the spinal implant and device market. MIS is recommended because it has several advantages, such as not involving long cuts and incisions, thus reducing the chance of damage to the muscles surrounding the spine.

Spinal Implants and Devices Market expected to reach $ 13,384 million by 2022, and grew at a CAGR of 4.6% during the study period. Spinal implants and devices are used to treat spinal deformities such as spinal stenosis and ischemic spondylolisthesis.

An increase in the elderly population, increased adoption of minimally invasive surgical techniques, and increased incidence of spinal cord disease are expected to drive market growth. In addition, technological advances in spinal fixation implants will drive this growth. However, adverse repayment scenarios and strict regulatory approval procedures are expected to hinder market growth.

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The major companies profiled in the report include

Alphatec Holdings Inc.

B. Braun Melsungen AG

Depuy Synthes (Johnson & Johnson)

Exactech Inc.

Globus Medical Inc.

Medtronic plc

NuVasive Inc.

Orthofix International N.V.

Stryker Corporation

Zimmer Biomet Holdings Inc.

Spine implants and devices are used to treat deformities and disorders related to the spine. The market has witnessed significant grown in the recent past due to the increase in government funding to support R&D for innovative spine treatment.

Spinal fusion implants are expected to dominate the market throughout the analysis period, owing to various advancements such as the advent of hook, rod and screw systems, which allow surgeons to correct spinal deformities in a three-dimensional way, and the development of special plates and cages that promote spinal fusion.

Based on surgery, open spine surgery generated maximum revenue, accounting for almost two-third of the global spinal implants and devices market in 2015. However, the minimally invasive surgery market is estimated to exhibit the highest growth rate of 14.7% during the forecast period.

Spinal Implants and Devices Market Key Findings:

In 2015, fusion implants led the overall spinal implants and devices market and is projected to grow at a CAGR of 3.4% during the forecast period.

Non-fusion/motion preservation segment is projected to grow at a CAGR of 10.9% during the forecast period.

Dynamic stabilization devices segment is expected to grow at a significant CAGR of 10.9%, owing to the use of flexible materials during dynamic stabilization procedure that helps to retain mobility in the spine.

Balloon kyphoplasty occupied nearly four-fifth of the global vertebral compression fracture devices market in 2015.

Japan is the major shareholder, accounting for almost one-third of the Asia-Pacific spinal implants and devices market in 2015.

Asia-Pacific is projected to grow at the highest CAGR of 5.7% during the forecast period owing to improvement in healthcare infrastructures and rise in expenditures in emerging markets (India and China) to overcome the unmet medical needs. Technological advancements to develop cost-effective devices in these nations offer a lucrative opportunity for market growth.

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