DUBLIN, Sept. 27, 2019 /PRNewswire/ — The “Spine Implants Market – Global Outlook and Forecast 2019-2024” report has been added to ResearchAndMarkets.com’s offering.
The Global Spinal Implant Market is Expected to Reach More Than $12 Billion During the Period 2018-2024
The gradual rise in spinal disorders, including lumbar spine stenosis, degenerative discs, disc herniation, and spinal stenosis among others, is one of the major contributing factors for the growth of the spinal implant market. The rise in integrated spine surgery procedures is another major driver for the spinal implant market. Thus, favorable patient demographics is supporting market growth. The launch of several advanced and innovative spine implants and the demand for the latest generation implants are other factors that are expected to affect the spine implant market during the forecast period.
The growing demand for MI spine surgeries and the latest generation spine implants, the advent of bioabsorbable spine implants, and the availability of a wide range of recently approved innovative spine implants are some of the emerging trends, which are expected to contribute in the growth of the global spinal implant market. The introduction of 3D printed and custom fit spine implants is offering lucrative growth opportunities for vendors as the demand for innovative products with high performance and efficiency is increasing. The commercially available biodegradable spine implants are likely to disrupt the global spine implant market in the coming years.
Spinal Implant Market: Segmentation
This market research report includes a detailed segmentation of the market by spinal fusion implants, end-users, surgery, and geography. The increasing elderly population and the rise in spinal disorder incidences are driving the Spinal fusion implants segment. The segment is likely to witness faster growth due to the increased preference for non-fusion procedures such as dynamic stabilization and artificial disc replacement devices.
Vendors are focusing on introducing innovative products to end-users. Further, the vertebral compression fractures (VCF) treatment devices segment is expected to grow at a significant rate during the forecast period. However, the kyphoplasty sub-segment is witnessing a higher demand and is expected to dominate the market in the coming years as the kyphoplasty procedure helps to restore vertebral disc height and relieve back pain for a period of two years.
Further, the spinal non-fusion/motion preservation market segment is growing significantly. The increasing shift to the non-fusion procedure from other MI and spine fusion procedures is a major factor driving the segment growth.
In APAC, Japan, China, India, South Korea, and Australia are the highest revenue generators. Favorable government initiatives, improved healthcare infrastructure, and increased healthcare spending are expected to drive the global spinal implant market in the region during the forecast period.. Germany, the UK, France, Italy, and Spain are the major revenue contributors in the European region. Also, Latin America and MEA are likely to grow at higher CAGRs than North America. However, these regions are likely to lag Europe and APAC in terms of growth rate.
Key Vendor Analysis
The global spinal implant market is highly competitive and dynamic due to the presence of several global, regional, and local vendors offering a diverse range of spine implants for treating many spine disorders. Collaborations and new product launches will be some of the crucial aspects for companies to maintain revenue growth in the coming years. Further, multiple product launches, strategic acquisitions, and differentiated products are expected to drive the global spinal implant market.
Market Growth Enablers
- Growing Prevalence of Spine Disorders & Spine Injuries
- Growing Demand for MI Spine Surgeries
- Availability of a Broad Range of Approved Innovative Spine Implants
Market Growth Restraints
- Product Recalls
- Risks & Complications Associated with Spine Surgeries
- Stringent Regulations for Spine Implants Approval
Market Opportunities & Trends
- Emergence of 3D-Printed and Custom-Fit Spine Implants
- Growing Demand for Latest Generation Spine Implants
- Advent of Bioabsorbable Spine Implants
- Increasing Strategic Acquisitions
Key Vendors in the Global Spinal Implant Market
- Johnson & Johnson
- Globus Medical
- Zimmer Biomet
Other Prominent Vendors in the Spinal Implant Market
- Alphatec Spine
- Captiva Spine
- CarboFix Orthopedics
- Camber Spine
- CTL Amedica
- Centinel Spine
- FH ORTHO
- Life Spine
- Maxxspine Deutschland
- Medacta International
- Meditech Spine
- MicroPort Scientific
- Neuro France Implants
- Paradigm Spine
- Precision Spine
- Premia Spine
- RD Medical
- RTI Surgical
- S14 IMPLANTS
- Safe Orthopedics
- SIGNUS Medizintechnik
- Spinal Elements
- Spinal Kinetics
- Spine Wave
- TAEYEON Medical
- Tria Spine
- ulrich medical
- wenzel spine
For more information about this report visit https://www.researchandmarkets.com/r/tu84gc
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