Spine Implants Market Business Approaches, Applications, Types And Future Outlook Report 2023-2032|Medtronic, Depuy Synthes, Johnson & Johnson, Stryker Corporation, NuVasive

3D render of a male medical figure with spine highlighted

The Spine Implants Global Market Report 2023 by The Business Research Company, provides spine implants market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Spine Implants Global Market Report 2023, the market size is expected to grow from $11.32 billion in 2022 to $12.33 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global spine implants is expected to grow from $16.86 billion in 2027 at a CAGR of 8.1%.

The rising incidences of spinal disorders coupled with the usage of minimally invasive surgical procedures are contributing to the growth of the global spine implants market. According to Branko PRPA, surgical in September 2021, annually there are 1.34 to 4.6 spinal cases per million and 1,400 new cases diagnosed each year, with 33,000 having some type of disability in the US and among them, 30% of the adult female population suffers from lower back pain, compared to 25 percent of the adult male adult population and this is approximately 31% of men acknowledged that their condition affects their employment compared to 20% of women.

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The spine implants market is segmented:

1) By Product: Spinal Fusion Devices, Non-Fusion Devices/Motion Preservation Devices, Vertebral Compression Fracture (VCF) Treatment Devices, Spinal Bone Stimulators, Spine Biologics

2) By Procedure: Open Surgery, Minimally Invasive Surgery (MIS)

3) By Material: Metallic, Polymeric, Ceramic

4) By End Use: Hospitals, Specialty Orthopedic And Spine Centers, Ambulatory Surgical Centers

The innovation of implants in providing minimally invasive and motion-preserving stabilization is a major trend in the spine implants market. For example, RTI Surgical Holdings, a global surgical implant company, has launched the first and only posterior lumbar motion preservation solution, Coflex. Coflex is a differentiated, minimally-invasive, motion-preserving stabilization implant that is FDA PMA-approved for the treatment of moderate to severe lumbar spinal stenosis (LSS). It can be directly implanted following a surgical decompression, without fusing the bones. The device comes in different sizes to fit the patient’s anatomy, and this can be performed even in an outpatient setting.

The spine implants market report table of contents includes: