Spinal Implants Market 2022
Placement of Spinal Implants is considered as the final option in the treatment of treat severe back pain, and spinal injuries cases. Spinal implants play various roles in both, during spinal fusion surgery and without it such as to facilitate the fusion of two vertebrae, improve the stability of the spine, strengthen the spine and correct any deformities.
Accident and trauma cases along with hyper-obesity disorders drive the demand for spinal implants, causing severe spinal injuries. The augmented demand leads the market growth of spinal implants, increasing the market size. Resultantly.
During the past couple of decades, with the technological advancements, Spinal Implants have undergone several bettering transformations for instance - Expandable Interbody or Resorbable Implants, attributing to the market growth. With each innovation and bettering efforts, Spinal Implants Market has garnered prominence value on the global platform.
Considering the phenomenal growth the market is witnessing, Market Research Future (MRFR) in its recently published study report mentions that the market is expected to further accrue by 2023, growing at a CAGR of 5.5% during the review period.
Technological advancements transpired into the medical technology is dominant driving force behind the growth of the Spinal Implants Market. Worldwide, several researches are ongoing wherein scientists surgeons are relentlessly working to develop and refine implants that can offer the best results to the patients and improve their quality of life as well.
As a result of these research activities, some phenomenal advances have taken places into the field of spinal implants. Such as the innovation of hook, rod and screw systems that allow surgeons to correct spinal deformities with the 3D view; the development of special plates and cages that promote spinal fusion; and the emergence of sturdy miniature implants for children among various other. These efforts have paid off well fuelling the market growth, increasing the uptake of these implants extensively.
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Major Key Players:
Some of the leading players operating in the global Spinal Implants Market are Depuy Synthes Inc. (Johnson Johnson) (US), Medtronic, plc. (Ireland), Stryker Corporation (US), Zimmer Biomet Holdings, Inc. (US), NuVasive, Inc. (US), Globus Medical, Inc. (US), Orthofix International N.V. (Netherlands), Alphatec Holdings, Inc. (US), K2M Group Holdings, Inc. (US), Amedica Corporation (US), RTI Surgical, Inc. (US), Exactech Inc. (US), LDR Holding Corporation (US), Integra LifeSciences (US), Quandary Medical LLC (US), Alliance Spine (US), AESCULAP (US), Apollo Spine (US), Ascendx Spine (US), Premia Spine (Israel), A-Spine (Taiwan), Accel Spine (US), Back 2 Basics Spine (Canada), SI-BONE (US), Centinel Spine (US), Captiva Spine Inc. (US), Life Spine (US), NLT Spine (US), SpineGuard (France), Paradigm Spine LLC (US), Reliance Medical Systems (US), Precision Spine (US), Spinal Solutions Inc. (US), Spineart Geneva SA (Switzerland), and Spine Frontier (US)
Segmentation Analysis:
MRFR analysis is segmented into four key dynamics:-
By Products : Comprises Spinal Fusion Devices (thoracolumbar, cervical fixation, and interbody fusion devices, others.), Non-Fusion Devices, Spinal Bone Stimulators, and Vertebral Compression Fracture (VCF) treatment devices, among others.
By Materials : Titanium, Titanium-Alloy, Stainless Steel, and Plastic among others.
By Procedures : Open Surgeries and Minimally Invasive Surgeries (MIS) among others.
By Regions : North America, Europe, APAC and Rest-of-the-World (RoW).
Regional Analysis:
Globally, North America accounts for the leading market for Spinal Implant and Devices. Countries like U.S. and Canada play a vital role in the growth of this market. Factors such as the technological innovation, advancement in manufacturing processes, and contribution of nanotechnology, substantiate the market growth. Higher per capita healthcare expenditures and rising RD funding to develop new techniques are some of the major factors supporting the growth of the market in the region. Europe is expected to be the second-largest market, demonstrating a phenomenal growth throughout the forecast period. Factors such as the financial support from the government for research and development activities, the increase in geriatric population and the increasing demand for spinal implants and devices for the treatment of spinal disorders in the region drive the market growth. Furthermore, the Asia Pacific Spinal Implants Market Size is emerging as one of the lucrative markets. Rising cases of obesity disorders, increasing healthcare expenditure, increasing government funding, and the presence of a large patient population, along with the growing awareness about novel spine treatment techniques in the region are the major driving forces for the growth of the market.
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