Spine Implants Global Market Report 2024

Spine implants serve as essential devices for addressing spinal deformities, offering solutions for stabilizing, strengthening, and promoting bone fusion in various spinal disorders such as degenerative disc disease, kyphosis, scoliosis, spondylolisthesis, spinal stenosis, and fractures.

The primary categories within the spine implants market encompass spinal fusion devices, non-fusion devices or motion preservation devices, vertebral compression fracture (VCF) treatment devices, spinal bone stimulators, and spine biologics. Specifically designed for treating spinal disorders, spinal fusion devices tackle spinal instability through the surgical implantation of materials such as titanium-alloy, titanium, stainless steel, and non-metallic devices into the spine. The procedures involved include both open surgery and minimally invasive surgery (MIS). Materials utilized in spine implants span metallic, polymeric, and ceramic compositions. The application of spine implants extends to various healthcare settings, including hospitals, specialty orthopedic and spine centers, as well as ambulatory surgical centers.

The spine implants market research report is one of a series of new reports from The Business Research Company that provides spine implants market statistics, including spine implants industry global market size, regional shares, competitors with a spine implants market share, detailed spine implants market segments, market trends and opportunities, and any further data you may need to thrive in the spine implants industry. This spine implants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The spine implants market size has grown strongly in recent years. It will grow from $11.54 billion in 2023 to $12.23 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The historical period's expansion can be ascribed to an increase in the occurrence of spinal disorders, the proliferation of healthcare facilities, a rising demand for spine surgeries in emerging markets, the swift growth of the elderly population, the introduction of advanced bone grafting products, and a heightened acceptance of minimally invasive spine surgeries.

The spine implants market size is expected to see strong growth in the next few years. It will grow to $15.17 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The anticipated growth in the forecast period can be linked to progress in spine surgery technologies, a growing elderly population, shifts in lifestyles, accelerated economic growth, and the expanding reimbursement for spine implants. Key trends expected in the forecast period involve the adoption of nanosurface technology for the creation of innovative bioceramic materials, emphasis on the development of smart metals, the design of novel motion preservation devices for spine implants, investments in 3D printing technologies, the provision of patient-specific instrumentation, and the utilization of adaptive spine technology (AST). Additionally, the focus is on advancing minimally invasive spinal surgery and pioneering endoscopic spinal surgery.

The global spine implants market is experiencing growth attributed to the escalating incidences of spinal disorders. According to Branko PRPA Surgical in September 2021, there are annually 1.34 to 4.6 spinal cases per million, with 1,400 new cases diagnosed each year. In the United States, 33,000 individuals develop some form of disability due to spinal issues. Notably, 30% of the adult female population experiences lower back pain, exceeding the 25% reported among adult males. Approximately 31% of men acknowledge that their condition impacts their employment, in contrast to 20% of women. The prevalence of neuropathic pain was found to range between 16% and 55% in 2021. Consequently, the growing prevalence of spinal disorders, coupled with the ease of treatment through minimally invasive approaches, is propelling the global spinal implants market.

Anticipated growth in the spine implants market is further driven by the increasing adoption of minimally invasive procedures. These procedures involve medical techniques and surgical interventions utilizing small incisions, delicate instruments, and advanced imaging technology for diagnosis, treatment, or surgery within the body. The utilization of minimally invasive procedures in spine implant surgeries is on the rise, offering benefits such as reduced tissue damage and faster recovery. For instance, reports from Intuitive Surgical Inc., a US-based manufacturer of robotic products, revealed that in January 2023, approximately 1,875,000 surgical procedures were performed using Vinci Surgical Systems, indicating an 18% increase compared to the approximately 1,594,000 procedures conducted in 2021. Thus, the increasing adoption of minimally invasive procedures is a significant driver for the growth of the spine implants market.

A significant trend in the spine implants market is the advancement of implants to facilitate minimally invasive and motion-preserving stabilization. RTI Surgical Holdings, a global surgical implant company, exemplifies this trend with the introduction of Coflex, the first and only FDA PMA-approved posterior lumbar motion preservation solution. Coflex is a distinctive, minimally-invasive implant designed for stabilizing and preserving motion in the lumbar spine. It is specifically approved for the treatment of moderate to severe lumbar spinal stenosis (LSS) and can be directly implanted after surgical decompression without the need for bone fusion. Available in various sizes to accommodate individual patient anatomy, Coflex procedures can even be performed in an outpatient setting.

Major players in the spine implants market are actively engaged in developing cutting-edge products to gain a competitive advantage. One notable example is the focus on 3D-printed spacer systems incorporating nanovate technology. These advanced implants enhance stability and promote fusion, providing innovative solutions for spinal disorders. Orthofix Medical Inc., a US-based medical device company, launched its 3D-printed FORZA Titanium (Ti) PLIF Spacer System with Nanovate technology in June 2021. This system is specifically designed for Posterior Lumbar Interbody Fusion (PLIF) procedures, addressing conditions such as degenerative disc disease and spondylolisthesis.

In July 2022, Spineway, a France-based spinal implants manufacturer, made a strategic move by acquiring Spine Innovations for an undisclosed amount. This acquisition is expected to accelerate Spineway's innovation and growth, positioning the company as a leader in the spinal implants segment. Spinal Innovations, based in France, is recognized for its expertise in manufacturing spinal implants.

Major companies operating in the spine implants market report are Medtronic PLC, Johnson & Johnson, Stryker Corporation, NuVasive, Inc., Zimmer Biomet Holdings, Inc., Orthofix Medical Inc., SeaSpine Holdings Corporation, Narang Medical Limited, Atlas Surgical, Auxein Medical and Sharma Spine Medical Pvt. Ltd., Teijin Nakashima Medical Co, Seikagaku Corporation, Anatomics, New Zealand Spine (NZOA), Tianjin Walkman Biomaterials, Sunan Zimede Medical Instruments Co., Ltd., Smith & Nephew, aap Implantate AG, Orthopaedic & Spine Development (OSD), Waldemar Link GmbH & Co. KG, Amplitude SAS, Corin Group PLC, Precision Medical Technologies (Poland), Baltic Implants, Aequos Endoprothetik GmbH, Beznoska Company Ltd., SpineGuard, Integra Life Sciences, B. Braun Melsungen AG, Benvenue Medical, DePuy Synthes, Globus Medical, Inc., Aesculap, Inc., Alphatec Spine, Neoortho, NOVAX DMA, Spine Argentina, SAI (South America Implants), Shaarani Group, Babil Medical Equipment, Southern Medical (Pty) Ltd., SASpine, EliteSurgical, TiTaMED, GE Healthcare.

North America was the largest region in the spine implants market in 2023. Western Europe was the second largest region in the spine implants market report. The regions covered in the spine implants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the spine implants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain

The spine implants market consists of sales of cages, plates, rods values, artificial disc and expandable rods. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Spine Implants Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on spine implants market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for spine implants? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The spine implants market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product: Spinal Fusion Devices; Non-Fusion Devices/Motion Preservation Devices; Vertebral Compression Fracture (VCF) Treatment Devices; Spinal Bone Stimulators And Spine Biologics
• 2) By Procedure: Open Surgery; Minimally Invasive Surgery (MIS)
• 3) By Material: Metallic; Polymeric; Ceramic
• 4) By End User: Hospitals; Specialty Orthopedic And Spine Centers; Ambulatory Surgical Centers
• Companies Mentioned: Medtronic plc; Johnson & Johnson; Stryker Corporation; NuVasive, Inc.; Zimmer Biomet Holdings, Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: PDF, Word and Excel Data Dashboard.