Spinal Implants and Spinal Surgical Devices Market is anticipated to grow at a CAGR of ~5.2% from 2019to 2030.
Market Industry Reports (MIR) has published a new report titled “Spinal Implants and Spinal Surgical Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global spinal implants and spinal surgical devices market is estimated to be over~US$ 15.5billion in 2019. It is anticipated to grow at a CAGR of ~5.2% from 2019to 2030.
Rising incidences of spinal disorders along with increasing geriatric population have played a pivotal role in propelling the market. Moreover, increasing demand for minimally-invasive procedures and advancements in spinal surgical technologies are anticipated to further fuel the global spinal implants and spinal surgical devices market during the forecast period. Prominent players in the market are increasingly focusing on strategies such as acquisition &merges to gain foothold in the spinal implant and surgical device market. For instance, in 2019, Medtronic, acquired Titan Spine,a surface technology company, associated with the manufacturing of titanium spine interbody implantstreatment of various pathologies of the spine that require fusion.
Minimally-invasive surgeries offer several advantages over traditional procedures, such as reducedpain &discomfort, reduced risk of post-surgical infections, shorter hospitalization period, and faster recovery. These advantages have been crucial in promoting the adoption of minimal invasive surgeries among the population, which in turn presents a favorable growth opportunity for the global spinal implants and spinal surgical devices market during the forecast period.
Moreover, prominent players are continuously launching innovative technologies and devices for spinal implant surgeries, which is anticipated to considerably contribute to the growth of the market in the coming years. For instance, in 2019, Globus Medical, Inc., a musculoskeletal solutions company, launched AERIAL, a minimally invasive expandable interspinous fixation system with independent locking plates. Expandable central core of AERIAL provides eases the implant placement process byallowing up to 6mm of distraction that helpsin increasing interspinous space of a patient’s spine.This ability to expand and separately fixate to each spinous process thus provides a customized fit to patients.In the same year,RTI Surgical Holdings, Inc.,launched CervAlignAnterior Cervical Plate (ACP) System. The CervAlign ACP System is designed topromote cervical fusion by providing temporary resistance to flexion, extension, lateral bending and axial rotation with strength and stiffness in the cervical spine (C2-C7).
Browse key industry insights spread across 210 pages with market data tables & figures & charts from the report, Spinal Implants and Spinal Surgical Devices Market by Technology (Fusion, Fixation, VCF, Decompression, Motion Preservation), Product (Cervical, Thoracic, Lumbar, Interbody, Kyphoplasty, Artificial Discs, MIS, Biologics, Stimulators) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/spinal-implants-and-spinal-surgical-devices-market/127
However, high cost of spinal surgery, and lack of awareness among patients regarding latest technologies for the spinal implant surgeries is anticipated to hinder the growth of the market to a certain extent.
Asia Pacific is estimated to account for the highest CAGR in spinal implants and spinal surgical devices market during theforecast period.Increasing incidence of spinal disorders, improving healthcare infrastructure, rising geriatric population, and lower costs of healthcare services, especially surgical procedures, are anticipated to further propel the spinal implants and spinal surgical devices market in this region.
Some of the prominent players in the spinal implants and spinal surgical devices market include Medtronic, Stryker, ??Orthofix Medical Inc., DePuySynthes, NuVasiveInc, RTI Surgical Holdings, Inc., Globus Medical, Inc., Alphatec Spine, Inc. and Aesculap, Inc., Inc among others
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