Spinal Implants Market Size Future Scope, Demands and Projected Industry Growths to 2028

By Sachin Pashte  | Date: November 01, 2022

Spinal Implants Market Size Future Scope, Demands and Projected Industry Growths to 2028

A comprehensive research study on Spinal Implants market added on Market Study Report provides insights into the market size and growth trends of this industry over the forecast timeline. The study evaluates key aspects of Spinal Implants market in terms of the demand landscape, driving factors and growth strategies adopted by market players.

Global Spinal Implants Market Analysis and Forecast 2019-2028 The global spinal implant market is estimated to grow at a moderate growth rate of around 5% during the period of 2019-2028. Spinal implants are devices used to treat various spinal disorders and deformities, stabilize and strengthen the spine, and facilitate fusion.

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The market growth is attributed to the advancements in spine surgery technologies, a surge in the prevalence of spinal disorders, increasing adoption of minimally invasive spine surgeries, and innovation of advanced bone grafting products. Key players in the industry have continuously been involved in the process of R&D and have recognized the benefits of biocompatible materials in the manufacturing of implants and surgical devices.

Market Segmentation

The global spinal implant market has been analyzed on the basis of product type, application, material, surgery type, and region. Based on product type, the market is segmented into spinal fusion implants and spinal non-fusion implants. Among these, spinal fusion implants segment is estimated to hold a prominent share in the market. Based on application, the market is segmented into cervical, thoracic, and lumbar. Thoracic fusion is estimated to hold a prominent share in the market.

Based on material, the market is segmented into Stainless Steel, Titanium, Polyetheretherketone (PEEK), and Others. Among these, PEEK is estimated to grow at a significant rate during the forecast period. Based on surgery type, the market is bifurcated into open spine surgery and minimally invasive spine surgery. Among these, minimally invasive spine surgery is estimated to grow at a remarkable growth rate during the forecast period. Geographically, the market is analyzed into North America, Western Europe, Eastern Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Market Structure and Competition Landscape

Some of the prominent players that contribute significantly to the market include Medtronic PLC, DePuy Synthes (Johnson & Johnson), Stryker Corp., NuVasive Inc., B.Braun Melsungen AG, Zimmer Biomet, Globus Medical Inc., Orthofix Medical Inc., Aesculap Inc., Spinal Elements Inc., Surgalign Spine Technologies Inc., ATEC Spine Inc., SeaSpine Orthopedics Corp., Spineart SA, Implanet, Meditech Spine LLC, and others.

These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global spinal implant market include:

•           In November 2021, Globus Medical Inc. approached NuVasive Inc., a US manufacturer of spine surgery equipment with an acquisition offer.

•           In March 2021, Implanet, a medical technology company specializing in knee-surgery implants, acquired Orthopaedic & Spine Development (OSD)..

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About Author

Sachin Pashte     ibmag.com

Sachin Pashte

Sachin is into market research and web marketing since the last 2 years and has worked on multiple projects across various industries. He has expertise in writing promotional content for market research reports while his personal interests include the games of footbal...

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