Market Overview:
The global Spinal Implants Market Growth, as per the report published by Market Research Future (MRFR), could achieve a CAGR of 5.5% during the forecast period (2017-2023). Spinal implants are mostly used to treat any deformity or accidental rupture in the spinal cord. Other problems such as joint issues, slip disk, and increasing stiffness of the tissue supporting the spine can be partially cured by these spinal implants. The market can grow further riding on the profits it is expected to earn from the development of safer technology and cost-effective devices.
On the flip side, stringent government policies and high procedural costs can prohibit the expected growth rate during the forecast period.
Competitive Analysis:
Influential players to impact the spinal implants market are Depuy Synthes Inc. (Johnson & Johnson) (U.S.), Medtronic, plc (Ireland), NuVasive, Inc. (U.S.), Stryker Corporation (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Alphatec Holdings, Inc. (U.S.), Orthofix International N.V. (Netherlands), K2M Group Holdings, Inc. (U.S.), Globus Medical, Inc. (U.S.), Amedica Corporation (U.S.), Exactech Inc. (U.S.), RTI Surgical, Inc. (U.S.), LDR Holding Corporation (U.S.), Integra LifeSciences (U.S.), Quandary Medical LLC (U.S.), AESCULAP (U.S.), Premia Spine (Israel), Ascendx Spine (U.S.), A-Spine (Taiwan), Alliance Spine (U.S.), Apollo Spine (U.S.), Accel Spine (U.S.), Back 2 Basics Spine (Canada), SI-BONE (U.S.), Centinel Spine (U.S.), Life Spine (U.S.), Captiva Spine Inc. (U.S.), NLT Spine (U.S.), Paradigm Spine LLC (U.S.), SpineGuard (France), Spine Frontier (U.S.), Spineart Geneva SA (Switzerland), Reliance Medical Systems (U.S.), Precision Spine (U.S.), Spinal Solutions Inc. (U.S.), and others.
Segmentation:
• With the focus on a detailed analysis of the spinal implants market, MRFR segmented it by product, procedure, and material.
• By product, the global spinal implants market includes spinal bone stimulators, non-fusion devices/motion preservation devices, spinal fusion devices, spine biologics, vertebral compression fracture (VCF) treatment devices, and others. The spine fusion segment comprises interbody fusion devices, cervical fixation devices, thoracolumbar devices, and others. The thoracolumbar devices segment encompasses lumbar plates, anterior lumbar plates, rods, pedicle screw, wires & cables, crosslinks, hooks, and others.
• By procedure, the global spinal implants market includes open surgery, minimally invasive surgery (MIS), and others.
• Material-wise, the global spinal implants market can be segmented into titanium, plastic, titanium-alloy, stainless steel, and others.
Regional Analysis:
MRFR’s region-specific analysis of the global spinal implants market spans across, namely, America, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA).
The Americas has the maximum share of the global market due to superior technology and better healthcare service. At the same time, investment in treatment and research & development are getting higher owing to which the regional market is getting much traction. Nanotechnology could play a vital role in taking the market ahead.
Europe’s growth banks on similar reasons like that of the Americas. The R & D segment receives huge funds from governments for better product innovation which can ensure market growth.