The global spinal implants market was valued at US$ XX Mn in the year 2018 and is expected to reach US$ XX Mn by the year 2026, growing at a CAGR of 5.3% during the forecast period.
Spinal implants are medical devices that are used by spinal surgeons to treat deformities and stabilize and strengthen the spine. Spinal implants are used for the treatment of disorders such as scoliosis, spondylolisthesis, degenerative disc disease, spinal fractures, and kyphosis, amongst others.
The increasing incidence of spinal disorders is one of the major factors that is driving the growth of the spinal implants market. According to the National Institute of Neurological Disorders and Stroke (NINDS), approximately 80% of adults experience low back pain at some point in their lifetime. It is the single leading cause of disability worldwide.
According to a recent study, 403 million people get diagnosed with symptomatic degenerative disc disease worldwide and 103 million people with spinal stenosis annually.
Apart from this, the increasing demand for minimally invasive surgeries, coupled with advancements in spine surgery technologies, is expected to further drive the growth of the global spinal implants market. The use of 3D printed implants in the healthcare industry is also expected to positively impact this market.
However, the high cost of treatment procedures and the stringent approval process are expected to impede the growth of the market.
The global spinal implants market report covers an in-depth analysis of the market including statistical and subjective data points, along with the key market drivers and opportunities & restraints that have positive or negative effects on the overall global market. An in-depth analysis of the regional and country level market at the various segment and sub-segment levels has been provided. The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to the competitive landscape of the market and the recent strategies & product launches that will assist or affect the market in the near future.
Spinal Non-fusion devices segment is expected to grow at a high CAGR during the forecast period
Based on products, the market has been segmented into spinal fusion and fixation devices, spinal non-fusion devices, and vertebral compression fracture repair devices. Spinal fusion devices are used for spinal fusion surgeries which involve the fusion of one or more vertebrae of the spine. On the other hand, spinal non-fusion surgeries do not involve the fusion of vertebrae of the spine and hence, they are also known as motion preservation surgeries. The vertebral compression fracture repair devices segment includes balloon kyphoplasty devices and vertebroplasty devices.
The spinal non-fusion devices segment is expected to grow at a high CAGR during the forecast period. Spinal non-fusion surgeries provide advantages such as motion preservation and low risk of disk degeneration at the adjacent level. Therefore, there is an increasing adoption of these surgeries. Apart from this, the increasing demand for minimally invasive surgeries is also expected to drive the spinal non-fusion devices segment. However, the lack of skilled surgeons to perform non-fusion surgeries will impede the growth of this segment.
Minimally invasive surgeries to grow at a higher CAGR during the forecast period
Based on the type of surgery, the spinal implants market has been segmented into open surgery and minimally invasive surgery. While the open surgery segment accounted for a higher share in the base year, the minimally invasive surgeries segment is expected to grow at a higher CAGR in the coming years. Minimally invasive surgeries have advantages such as faster recovery, reduced pain, and less scars.
North America accounts for over 40% share of the global spinal implants market
North America dominates the spinal implants market in 2018 with over 40% share. An increase in the incidence of spinal disorders and the increasing awareness about new technologies developed for the treatment of spinal disorders, are some of the main factors that are driving the growth of the spinal implants market in this region.
According to the Agency for Healthcare Research and Quality (AHRQ), approximately 480,000 spinal fusion surgeries where performed in 2011, which accounted for 3% of the all operating room procedures. Apart from this, a well-established healthcare infrastructure, coupled with favourable reimbursement policies, is expected to drive the growth of the market further.
However, the Asia-Pacific region is expected to grow with a significant CAGR during the forecast period. The presence of a large target patient population, increasing healthcare expenditure, increasing awareness about the availability of spinal implants, are some of the factors to drive the growth of the spinal implants market in this region.
Key geographies covered:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Company Profiles and Competitive Intelligence:
The major players operating in the spinal implants market are B. Braun Melsungen AG (Germany), DePuy Synthes (US), Exactech, Inc. (US), Globus Medical Inc. (US), K2M Group Holdings, Inc. (US), Medtronic Plc (Ireland), NuVasive, Inc. (US), Orthofix International N.V. (US), Stryker Corporation (US), and Zimmer Biomet (US), amongst others.
Medtronic, Stryker, and DePuy Synthes are some of the leading players in this market that account for majority of the market share. Most of the companies are focusing on both organic and inorganic strategies for growth, in order to sustain in the spinal implants market. For instance, in May 2019, Medtronic entered into a definitive agreement to acquire Titan Spine. Titan Spine is a privately-held titanium spine interbody implant and surface technology company. This acquisition will further strengthen Medtronic’s position as a leading innovator in spine surgery procedural solutions.
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Table of Content
Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
1.3.4 Approach Adopted
1.3.4.1 Top-Down Approach
1.3.4.2 Bottom-Up Approach
1.3.5 Assumptions
1.4 Market Segmentation Scope
Chapter 2 Executive Summary
2.1 Market Summary
2.1.1 Global Spinal Implants Market, 2016-2026, (US$ Mn)
2.1 Market Snapshot: Global Spinal Implants Market
2.2 Market Dynamics
2.3 Global Spinal Implants Market, by Segment, 2018
2.3.1 Global Spinal Implants Market, by Product Type, 2018 (US$ Mn)
2.3.2 Global Spinal Implants Market, by Type of Surgery, 2018 (US$ Mn)
2.3.3 Global Spinal Implants Market, by Region, 2018 (US$ Mn)
2.4 Premium Insights
2.4.1 Spinal Implants Market In Developed Vs. Developing Economies, 2018 vs 2026
2.4.2 Global Spinal Implants Market: Regional Life Cycle Analysis
Chapter 3 Market Dynamics
3.1 Market Overview
3.2 Market Drivers
3.2.1 Increasing demand for minimally invasive surgeries
3.2.2 Increasing incidence of spinal disorders
3.2.3 Technological advancements in spinal surgeries
3.3 Market Restraints
3.3.1 High Cost of Treatment
3.3.2 Stringent approval process
3.4 Market Opportunities
3.4.1 Increasing demand from emerging countries
3.4.2 Opportunity 2
3.5 Industry SWOT Analysis
Chapter 4 Global Spinal Implants Market, by Product Type
4.1 Market Overview, by Product Type
4.1.1 Global Spinal Implants Market, by Product Type, 2016-2026 (US$ Mn)
4.1.2 Incremental Opportunity, by Product Type, From 2018-2026
4.2 Spinal Fusion and Fixation Devices
4.2.1 Global Spinal Implants Market, by Spinal Fusion and Fixation Devices, 2016-2026, (US$ Mn)
4.2.2 Thoracic and Lumbar Fusion Devices
4.2.2.1 Global Spinal Implants Market, by Thoracic and Lumbar Fusion Devices, 2016-2026, (US$ Mn)
4.2.2.2 Interbody Cages
4.2.2.2.1 Global Spinal Implants Market, by Interbody Cages, 2016-2026, (US$ Mn)
4.2.2.3 Plates and screws
4.2.2.3.1 Global Spinal Implants Market, by Plates and screws, 2016-2026, (US$ Mn)
4.2.2.4 Rods
4.2.2.4.1 Global Spinal Implants Market, by Rods, 2016-2026, (US$ Mn)
4.2.3 Cervical Fusion Devices
4.2.3.1 Global Spinal Implants Market, by Cervical Fusion Devices, 2016-2026, (US$ Mn)
4.2.3.2 Plates
4.2.3.2.1 Global Spinal Implants Market, by Plates, 2016-2026, (US$ Mn)
4.2.3.3 Interbody Cages
4.2.3.3.1 Global Spinal Implants Market, by Interbody Cages, 2016-2026, (US$ Mn)
4.2.3.4 Screw Systems
4.2.3.4.1 Global Spinal Implants Market, by Screw Systems, 2016-2026, (US$ Mn)
4.2.3.5 Rods
4.2.3.5.1 Global Spinal Implants Market, by Rods, 2016-2026, (US$ Mn)
4.3 Spinal Non-Fusion Devices
4.3.1 Artificial Disc Replacement Devices
4.3.2 Global Spinal Implants Market, by Artificial Disc Replacement Devices, 2016-2026, (US$ Mn)
4.3.2.1 Cervical Artificial Disc Replacement Devices
4.3.2.2 Global Spinal Implants Market, by Cervical Artificial Disc Replacement Devices, 2016-2026, (US$ Mn)
4.3.2.3 Lumbar Artificial Disc Replacement Devices
4.3.2.4 Global Spinal Implants Market, by Lumbar Artificial Disc Replacement Devices, 2016-2026, (US$ Mn)
4.3.3 Dynamic Stabilization Devices
4.3.4 Global Spinal Implants Market, by Dynamic Stabilization Devices, 2016-2026, (US$ Mn)
4.3.4.1 Interspinous Process Decompression Devices
4.3.4.2 Global Spinal Implants Market, by Interspinous Process Decompression Devices, 2016-2026, (US$ Mn)
4.3.4.3 Pedicle Screw-Based Posterior Dynamic Stablization Devices
4.3.4.4 Global Spinal Implants Market, by Pedicle Screw-Based Posterior Dynamic Stablization Devices, 2016-2026, (US$ Mn)
4.3.5 Other Spinal Non-fusion devices
4.3.6 Global Spinal Implants Market, by Other Spinal Non-fusion devices, 2016-2026, (US$ Mn)
4.4 Vertebral Compression Fracture Repair/Treatment Devices
4.4.1 Balloon Kyphoplasty devices
4.4.2 Global Spinal Implants Market, by Balloon Kyphoplasty devices, 2016-2026, (US$ Mn)
4.4.3 Vertebroplasty devices
4.4.4 Global Spinal Implants Market, by Vertebroplasty devices, 2016-2026, (US$ Mn)
Chapter 5 Global Spinal Implants Market, by Type of Surgery
5.1 Market Overview, by Type of Surgery
5.1.1 Global Spinal Implants Market, by Type of Surgery, 2016-2026 (US$ Mn)
5.1.2 Incremental Opportunity, by Type of Surgery, From 2018-2026
5.2 Open Surgery
5.2.1 Global Spinal Implants Market, by Open Surgery, 2016-2026, (US$ Mn)
5.3 Minimally Invasive surgeries
5.3.1 Global Spinal Implants Market, by Minimally Invasive surgeries, 2016-2026, (US$ Mn)
Chapter 6 Global Spinal Implants Market, by Region
6.1 Market Overview, by Region
6.1.1 Global Spinal Implants Market, by Region, 2016-2026, (US$ Mn)
6.2 Attractive Investment Opportunity, by Region, 2018
6.3 North America Spinal Implants Market
6.3.1 North America Spinal Implants Market, by Product Type, 2016-2026 (US$ Mn)
6.3.2 North America Spinal Implants Market, by Type of Surgery, 2016-2026 (US$ Mn)
6.3.3 United States Country Profile
6.3.3.1 United States Spinal Implants Market, 2016-2026 (US$ Mn)
6.3.4 Canada Country Profile
6.3.4.1 Canada Spinal Implants Market, 2016-2026 (US$ Mn)
6.4 Europe Spinal Implants Market
6.4.1 Europe Spinal Implants Market, by Product Type, 2016-2026 (US$ Mn)
6.4.2 Europe Spinal Implants Market, by Type of Surgery, 2016-2026 (US$ Mn)
6.4.3 United Kingdom Country Profile
6.4.3.1 United Kingdom Spinal Implants Market, 2016-2026 (US$ Mn)
6.4.4 Germany Country Profile
6.4.4.1 Germany Spinal Implants Market, 2016-2026 (US$ Mn)
6.4.5 France Country Profile
6.4.5.1 France Spinal Implants Market, 2016-2026 (US$ Mn)
6.4.6 Italy Country Profile
6.4.6.1 Italy Spinal Implants Market, 2016-2026 (US$ Mn)
6.4.7 Spain Country Profile
6.4.7.1 Spain Spinal Implants Market, 2016-2026 (US$ Mn)
6.4.8 Rest of Europe
6.4.8.1 Rest of Europe Spinal Implants Market, 2016-2026 (US$ Mn)
6.5 Asia Pacific Spinal Implants Market
6.5.1 Asia-Pacific Spinal Implants Market, by Product Type, 2016-2026 (US$ Mn)
6.5.2 Asia-Pacific Spinal Implants Market, by Type of Surgery, 2016-2026 (US$ Mn)
6.5.3 China Country Profile
6.5.3.1 China Spinal Implants Market, 2016-2026 (US$ Mn)
6.5.4 Japan Country Profile
6.5.4.1 Japan Spinal Implants Market, 2016-2026 (US$ Mn)
6.5.5 India Country Profile
6.5.5.1 India Spinal Implants Market, 2016-2026 (US$ Mn)
6.5.6 South Korea Country Profile
6.5.6.1 South Korea Spinal Implants Market, 2016-2026 (US$ Mn)
6.5.7 Rest of Asia Pacific
6.5.7.1 Rest of Asia Pacific Spinal Implants Market, 2016-2026 (US$ Mn)
6.6 Rest of the World Spinal Implants Market
6.6.1 Rest of the World Spinal Implants Market, by Product Type, 2016-2026 (US$ Mn)
6.6.2 Rest of the World Spinal Implants Market, by Type of Surgery, 2016-2026 (US$ Mn)
6.6.3 Latin America
6.6.3.1 Latin America Spinal Implants Market, 2016-2026 (US$ Mn)
6.6.4 Middle East & Africa
6.6.4.1 Middle East & Africa Spinal Implants Market, 2016-2026 (US$ Mn)
Chapter 7 Competitive Intelligence
7.1 Market Players Present in Market Life Cycle
7.2 Top 5 Players Comparison
7.3 Market Positioning of Key Players, 2018
7.4 Market Players Mapping
7.4.1 By Product Type
7.4.2 By Type of Surgery
7.4.3 By Region
7.5 Strategies Adopted by Key Market Players
7.6 Recent Developments in the Market
7.6.1 Mergers & Acquisitions, Partnership, New Product Developments
7.7 Operational Efficiency Comparison by Key Players
Chapter 8 Company Profiles
8.1 B. Braun Melsungen AG
8.1.1 B. Braun Melsungen AG Overview
8.1.2 Key Stakeholders/Person in B. Braun Melsungen AG
8.1.3 B. Braun Melsungen AG Products Portfolio
8.1.4 B. Braun Melsungen AG Financial Overview
8.1.5 B. Braun Melsungen AG News/Recent Developments
8.2 DePuy Synthes
8.2.1 DePuy Synthes Overview
8.2.2 Key Stakeholders/Person in DePuy Synthes
8.2.3 DePuy Synthes Products Portfolio
8.2.4 DePuy Synthes Financial Overview
8.2.5 DePuy Synthes News/Recent Developments
8.3 Exactech, Inc.
8.3.1 Exactech, Inc. Overview
8.3.2 Key Stakeholders/Person in Exactech, Inc.
8.3.3 Exactech, Inc. Products Portfolio
8.3.4 Exactech, Inc. Financial Overview
8.3.5 Exactech, Inc. News/Recent Developments
8.4 Globus Medical Inc.
8.4.1 Globus Medical Inc. Overview
8.4.2 Key Stakeholders/Person in Globus Medical Inc.
8.4.3 Globus Medical Inc. Products Portfolio
8.4.4 Globus Medical Inc. Financial Overview
8.4.5 Globus Medical Inc. News/Recent Developments
8.5 K2M Group Holdings, Inc.
8.5.1 K2M Group Holdings, Inc. Overview
8.5.2 Key Stakeholders/Person in K2M Group Holdings, Inc.
8.5.3 K2M Group Holdings, Inc. Products Portfolio
8.5.4 K2M Group Holdings, Inc. Financial Overview
8.5.5 K2M Group Holdings, Inc. News/Recent Developments
8.6 Medtronic Plc
8.6.1 Medtronic Plc Overview
8.6.2 Key Stakeholders/Person in Medtronic Plc
8.6.3 Medtronic Plc Products Portfolio
8.6.4 Medtronic Plc Financial Overview
8.6.5 Medtronic Plc News/Recent Developments
8.7 NuVasive, Inc.
8.7.1 NuVasive, Inc. Overview
8.7.2 Key Stakeholders/Person in NuVasive, Inc.
8.7.3 NuVasive, Inc. Products Portfolio
8.7.4 NuVasive, Inc. Financial Overview
8.7.5 NuVasive, Inc. News/Recent Developments
8.8 Orthofix International N.V.
8.8.1 Orthofix International N.V. Overview
8.8.2 Key Stakeholders/Person in Orthofix International N.V.
8.8.3 Orthofix International N.V. Products Portfolio
8.8.4 Orthofix International N.V. Financial Overview
8.8.5 Orthofix International N.V. News/Recent Developments
8.9 Stryker Corporation
8.9.1 Stryker Corporation Overview
8.9.2 Key Stakeholders/Person in Stryker Corporation
8.9.3 Stryker Corporation Products Portfolio
8.9.4 Stryker Corporation Financial Overview
8.9.5 Stryker Corporation News/Recent Developments
8.10 Zimmer Biomet
8.10.1 Zimmer Biomet Overview
8.10.2 Key Stakeholders/Person in Zimmer Biomet
8.10.3 Zimmer Biomet Products Portfolio
8.10.4 Zimmer Biomet Financial Overview
8.10.5 Zimmer Biomet News/Recent Developments
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