The spinal implants market size was valued at USD 9093 million in 2021 and is projected to reach USD 13243 million by 2030, expanding at a CAGR of around 4.3% during the forecast period, 2022 – 2030. The growth of the market is attributed to increasing cases of spinal cord injuries.
Spinal implants are surgical devices that help doctors repair deformities, strengthen and stabilize the spine, and enable fusion. Fracture, spondylolisthesis, kyphosis, scoliosis, and degenerative disc disease, are all conditions treated by spinal implants. Implants are made of biocompatible or body-friendly materials that can provide maximum spine stability and strength. Non-fusion implants, on the other hand, are used in the lack of a bone graft.
In 2020, the global spread of the COVID-19 pandemic had a negative impact on the spinal implant market. During the early months of the pandemic, the medical device industry saw a large reduction in sales of spinal implant goods. To control spread of virus, the government in several countries announced lockdown. Several elective surgeries have also been halted or postponed indefinitely, allowing the facility to accommodate the maximum number of COVID-19 patients.
Market Trends, Drivers, Restraints, and Opportunities
- Growing prevalence of spondylosis among the elderly is expected to drive the demand for spinal implants during the forecast period.
- Rising availability of specialized bone grafting products is projected to fuel the market during the projected period.
- New developments in spinal surgery are estimated to boost the market.
- The need for minimally invasive surgical techniques is increasing, which is expected to drive the market during the forecast period.
- High cost of the treatment procedures is anticipated to hinder the market growth in the coming years.
- Factors such as lack of certainty in reimbursement, strict compliances, and regulatory approval procedures are expected to hamper the market growth.
- Increasing number of surgical centers and hospitals in emerging nations is projected to create immense opportunities for the market players during the projected period.
Scope of the Report
The report on the global spinal implants market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Spinal Implants Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
2022 – 2030
Configuration (Spine Biologics, Spinal Bone Stimulators, Vertebral Compression Fracture Treatment Devices, Non-Fusion Devices/Motion Preservation Devices, and Spinal Fusion Devices), Surgery (Minimally Invasive Surgery and Open Surgery), Procedure Types (Facetectomy, Corpectomy, Foraminotomy, Laminotomy, and Discectomy), Materials (Plastic, Stainless Steel, Titanium-Alloy, Titanium, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Integra LifeSciences Corporation; Life Spine Inc.; SpineFrontier Inc.; Lumitex Inc.; Aesculap Implant Systems LLC; Exactech Inc.; Premia Spine; Paradigm Spine; Reliance Medical Systems; Spineart; Centinel Spine LLC; Apollo Hospitals Enterprise Ltd.; Aesculap Inc.; Globus Medical Inc.; DePuy Synthes; NuVasive Inc.; Orthofix Holdings Inc.; Stryker; RTI Surgical Holdings Inc.; K2M Inc.; Alphatec Spine Inc.; Zimmer Biomet; and Medtronic.
Market Segment Insights
The spinal fusion devices segment accounted for a major market share in 2021
Based on configuration, the market is segregated into spine biologics, spinal bone stimulators, vertebral compression fracture treatment devices, non-fusion devices/motion preservation devices, and spinal fusion devices. The spine biologics segment is further segregated into synthetic bone grafts, BMP, DBM, xenografts, and allografts. The spinal fusion devices segment accounted for a major market share in 2021 owing to increasing number of spinal fusion surgeries. Growth of the segment is attributed to technological advancements in spine fusion surgeries with or without internal fixation. Furthermore, increased indications for spine fusions have led to the rising demand. Some of them are pseudarthrosis, spinal tumors, spondylolisthesis, degenerative deformity or congenital. The non-fusion segment, on the other hand, is a viable alternative to spinal fusion, which permanently joins two or more bones in the spine. The vertebral compression fracture treatment devices segment is projected to expand at a rapid pace during the forecast period, due to its widespread usage in minimally invasive surgeries. A vertebral compression fracture is the most prevalent consequence of osteoporosis. Autografts and allografts are two of the most widely used bone graft options for patients undergoing spinal fusion. Bone graft replacements are also commonly employed because they have minimal adverse effects while trying to replicate the benefits of donated bone.
The minimally invasive surgery segment is projected to grow at a rapid pace during the forecast period
On the basis of surgery, the market is bifurcated into minimally invasive surgery (MIS) and open surgery. The minimally invasive surgery segment is projected to expand at a rapid pace during the forecast period owing to increasing adoption of MIS by patients and doctors. Spinal procedures are performed through small incisions with the use of modern tools. MIS has a lower risk of muscular and soft tissue injury than open surgery since the incisions are substantially smaller. MIS is computer-based and directed by superior navigation systems, thus has a higher level of accuracy.
The laminotomy segment held key market share in 2021
In terms of procedure types, the market is fragmented into facetectomy, corpectomy, foraminotomy, laminotomy, and discectomy. The laminotomy segment held key market share in 2021 because it is the most commonly performed spine treatment. The foraminotomy segment is estimated to expand at a high CAGR during the forecast period. Growth of the segment is attributed to increased adoption of MIS treatments among the patient population. This method is commonly used to treat pinched nerves and foraminal stenosis. The majority of patients benefit from this treatment, and foraminotomy consequences are rare.
Titanium segment is projected to expand at a high CAGR during the forecast period
Based on materials, the market is divided into plastic, stainless steel, titanium-alloy, titanium, and others. The titanium segment is projected to expand at a high CAGR during the forecast period owing to introduction of advanced fusion technology. Titanium and its alloys have a similar elastic modulus to bone and have a higher strength than stainless steel. Furthermore, Ti-based alloys create fewer distortions in MRI and CT scans.
Asia Pacific is projected to dominate the market during the forecast period
On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is projected to dominate the market during the forecast period owing to increasing new cases of SCI in India and China. Japan has also led to a significant growth with their technologically advanced spine operations. Growth of the market in the region is attributed to growing senior population and an increase in traffic accidents.
The global spinal implants market has been segmented on the basis of
- Spine Biologics
- Synthetic Bone Grafts
- Spinal Bone Stimulators
- Vertebral Compression Fracture Treatment Devices
- Non-Fusion Devices/Motion Preservation Devices
- Spinal Fusion Devices
- Minimally Invasive Surgery
- Open Surgery
- Stainless Steel
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Integra LifeSciences Corporation
- Life Spine Inc.
- SpineFrontier Inc.
- Lumitex Inc.
- Aesculap Implant Systems LLC
- Exactech Inc.
- Premia Spine
- Paradigm Spine
- Reliance Medical Systems
- Centinel Spine LLC
- Apollo Hospitals Enterprise Ltd.
- Aesculap Inc.
- Globus Medical Inc.
- DePuy Synthes
- NuVasive Inc.
- Orthofix Holdings Inc.
- RTI Surgical Holdings Inc.
- K2M Inc.
- Alphatec Spine Inc.
- Zimmer Biomet
Key players competing in the spinal implants market include Integra LifeSciences Corporation; Life Spine Inc.; SpineFrontier Inc.; Lumitex Inc.; Aesculap Implant Systems LLC; Exactech Inc.; Premia Spine; Paradigm Spine; Reliance Medical Systems; Spineart; Centinel Spine LLC; Apollo Hospitals Enterprise Ltd.; Aesculap Inc.; Globus Medical Inc.; DePuy Synthes; NuVasive Inc.; Orthofix Holdings Inc.; Stryker; RTI Surgical Holdings Inc.; K2M Inc.; Alphatec Spine Inc.; Zimmer Biomet; and Medtronic. Some of these players are using several market strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares, generate revenue, and raise their production line of the business in the coming years.