Spinal Implants Market Growth Forecast Analysis by Manufacturers, Regions, Type and Application to 2028 | DepuySynthes Companies, Stryker, Benvenue Medical, Zimmer Inc.,

Increase in Incidences of Spinal Disorders to Boost Growth of the Spinal Implants Market

Market Overview:

Spinal implants are medical devices used to treat deformity, stabilize, and strengthen the spine, and facilitate fusion. Spinal implants are used to treat several disorders, such as traumatic fracture, kyphosis, scoliosis, degenerative disc disease, spondylolisthesis, and several forms of spinal instability. Spinal implants are made of titanium, titanium-alloy, or stainless steel. While some implants are made of non-metallic compounds such as Carbon/PEEK material. Moreover, these implants are available in many forms and sizes, and help stabilize and strengthen spine. In short, spinal implant is used to relieve back pain and manage disorders related to the spine.

Competitive Landscape:

Major players operating in the global spinal implants market are K2M Inc., Globus Medical Inc., B. Braun Melsungen, LDR Holding Corporation, Orthofix International N.V., Medtronic, NuVasive Inc., Alphatec Spine, Inc., CareFusion Corporation, Stryker, Zimmer Inc., Benvenue Medical, DepuySynthes Companies, Integra Lifesciences Holdings Corporation, among others.

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Key Market Drivers:

Rising prevalence of spinal diseases is expected to propel growth of the spinal implants market during the forecast period. For instance, according to the World Health Organization (WHO), every year, around 250,000 to 500,000 people across the globe suffer a spinal cord injury (SCI). Thus, there is an increasing demand for spinal implants worldwide.

Moreover, increasing adoption or use of spinal implants worldwide is expected to augment the growth of the spinal implants market. For instance, in February 2021, Nexus Spine launched PressOn patient-specific fixation system for stabilizing the human spine. The Nexus Spine has demonstrated improved clinical outcomes, decreased costs, and simplified use by leveraging our novel compliant mechanism engineering expertise and intellectual property.

COVID-19 Impact Analysis:

The outbreak of COVID-19 worldwide has impacted the spinal implant market negatively in 2020. Moreover, due to the increase in the number of COVID-19 patients, several governments have imposed nationwide lockdowns to contain the spread of the virus, resulting in the closure of production/manufacturing operations of companies operating in the spinal implants market.

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Key Takeaways:

• The spinal implants market is expected to exhibit during the forecast period due to the growing geriatric population around the world. For instance, according to the United Nations, there were 703 million persons aged 65 years or over in the world in 2019, and the number is expected to double to 1.5 billion by 2050.

• Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the spinal implants market owing to the increasing prevalence of spinal diseases, rising geriatric population, technological advancements, increasing demand for minimally invasive procedures, and frequent approvals & launches of novel products.

• For instance, according to the National Spinal Cord Injury Association, as many as 450,000 people in the United States are living with a spinal cord injury (SCI).

• Moreover, in October 2021, Amber Implants received FDA Breakthrough status for spinal system. The VCFix spinal system is the first solution to treat vertebral fractures that does not rely on bone cement. VCFix implant aims to stimulate bone ingrowth as a more natural healing process, providing better stability and better distribution of loads in the spine.

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This release was published on openPR.