The report Spinal Implants Market by Product (Devices: Thoracic, Cervical, Interbody Fusion, Spinal Non-Fusion; Biologics, Stimulators), Application (VCF, Spinal Decompression, Fusion, Non-Fusion), Surgery (Open, MIS), Region & Customer Unmet Need Forecast to 2028 projects the market to reach USD 14.3 billion by 2028, up from USD 11.2 billion in 2023, with a CAGR of 5.0% during the forecast period. Market growth is driven by increasing demand for minimally invasive surgical procedures, rising prevalence of spinal disorders, an aging population, increased public-private investments in clinical research, and the presence of key market players in developing regions.
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Non-Fusion Devices Segment
The non-fusion devices segment is expected to register significant growth from 2022 to 2028. The spinal implants market is segmented by product into thoracic fusion and lumbar fusion devices, cervical fusion devices, spine biologics, spinal decompression devices, non-fusion devices, vertebral compression fracture treatment devices, and spine bone stimulators. The surge in spinal disorders and the preference for non-fusion procedures, which involve less tissue disruption and shorter recovery times, are key contributors to the segment’s growth. The shift toward minimally invasive, patient-centered approaches in spinal care is driving the adoption of non-fusion devices.
Open Surgeries Segment
The open surgeries segment accounted for a significant share of the spinal implants market from 2022 to 2028. Open surgeries are preferred for complex spinal deformities, such as severe scoliosis or advanced kyphosis, due to the direct visualization they provide, enabling surgeons to effectively address intricate anatomical abnormalities. In trauma cases, open procedures are often used for quick access to treat fractures, dislocations, and other severe injuries, bolstering the segment’s growth.
Regional Insights: North America
North America dominated the spinal implants market in 2022, driven by factors such as a growing elderly population, a high incidence of spinal disorders, increased demand for minimally invasive surgical procedures, and the presence of well-established players with robust spinal implant portfolios. Additionally, growing research and funding initiatives from public and private organizations are expected to further boost the market in North America.
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Key Players
Prominent players in the spinal implants market as of 2022 include Medtronic (Ireland), DePuy Synthes – Johnson & Johnson (US), NuVasive (US), Spineart (Switzerland), RTI Surgical (Germany), Zimmer Biomet Holdings (US), Globus Medical Inc. (US), Abbott Laboratories (US), Boston Scientific Corporation (US), and Stryker Corporation (US).
Related News & Articles:
https://www.prnewswire.com/news-releases/spinal-implants-market-worth-14-3-billion–marketsandmarkets-302044405.html
https://www.linkedin.com/pulse/leading-countries-spinal-implants-business-pcdmf
https://www.linkedin.com/pulse/spinal-implants-market-size-growth-trends-abi7f
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