NEW YORK, Sept. 2, 2019 /PRNewswire/ --
The global spinal implant market is expected to reach more than $12 billion during the period 2018–2024.
Read the full report: https://www.reportlinker.com/p05812404/?utm_source=PRN
The gradual rise in spinal disorders, including lumbar spine stenosis, degenerative discs, disc herniation, and spinal stenosis among others, is one of the major contributing factors for the growth of the spinal implant market. The rise in integrated spine surgery procedures is another major driver for the spinal implant market. Thus, favorable patient demographics is supporting market growth. The launch of several advanced and innovative spine implants and the demand for the latest generation implants are other factors that are expected to affect the spine implant market during the forecast period.
The growing demand for MI spine surgeries and the latest generation spine implants, the advent of bioabsorbable spine implants, and the availability of a wide range of recently approved innovative spine implants are some of the emerging trends, which are expected to contribute in the growth of the global spinal implant market. The introduction of 3D printed and custom fit spine implants is offering lucrative growth opportunities for vendors as the demand for innovative products with high performance and efficiency is increasing. The commercially available biodegradable spine implants are likely to disrupt the global spine implant market in the coming years.
This research report on the spinal implant market covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study includes insights on segmentation by products (spinal fusion implants, spine biologics, VCF treatment devices, spinal non-fusion implants, and spine bone growth electrical stimulation devices), end-users (hospitals, specialty orthopedic and spine centers, and ambulatory surgical centers (ASCs)), surgery (open spine surgery and MI spine surgeries), and geography (North America, APAC, Europe, Latin America, and MEA).
The study considers the present scenario of the spinal implant market and its market dynamics for the period 2018?2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply aspect of the market. The report profiles and examines leading companies and other prominent companies operating in the global spinal implant market.
Spinal Implant Market: Segmentation
This market research report includes a detailed segmentation of the market by spinal fusion implants, end-users, surgery, and geography. The increasing elderly population and the rise in spinal disorder incidences are driving the Spinal fusion implants segment. The segment is likely to witness faster growth due to the increased preference for non-fusion procedures such as dynamic stabilization and artificial disc replacement devices. Vendors are focusing on introducing innovative products to end-users. Further, the vertebral compression fractures (VCF) treatment devices segment is expected to grow at a significant rate during the forecast period. However, the kyphoplasty sub-segment is witnessing a higher demand and is expected to dominate the market in the coming years as the kyphoplasty procedure helps to restore vertebral disc height and relieve back pain for a period of two years.Further, the spinal non-fusion/motion preservation market segment is growing significantly. The increasing shift to the non-fusion procedure from other MI and spine fusion procedures is a major factor driving the segment growth.
Although the open spine surgery segment witnessed the largest market share in 2018, the segment is likely to grow at a slow rate and is expected to witness a decline by the end of the forecast period. The MI spine surgeries segment, on the other hand, is projected to witness faster growth and is likely to increase its share by 2% during the forecast period. Further, high penetration of MI surgical techniques in emerging countries such as India, Brazil, China, Mexico, and South Africa is boosting the MI spine surgeries segment.
Hospitals have emerged as one of the largest end-users as they perform a large number of spine surgeries. The hospital segment captured around half of the market in 2018. The exponential growth of spinal training facilities and the increased efficiency in private and corporate hospitals in emerging markets have contributed to the growth of the spinal implants market. Specialty orthopedic and spine centers are likely to grow at a higher CAGR than hospitals as patients are increasingly preferring specialty orthopedic and spine care centers over multi-specialty hospitals.
Market Segmentation by Products
• Spinal Fusion Implants
• Spine Biologics
• VCF Treatment Devices
• Spinal Non-Fusion Implants
• Spine Bone Growth Electrical Stimulation Devices
Market Segmentation by End-users
• Specialty Orthopedic and Spine Centers
Market Segmentation by Surgery
• Open Spine Surgeries
• MI Spine Surgeries
Spinal Implant Market: Geography
In 2018, North America dominated the global spinal implant market followed by APAC, Europe, Latin America, and MEA. North America is expected to retain its dominance during the forecast period, however, the market is likely to grow at a less CAGR than all other regions as the market has reached the maturity stage.
In APAC, Japan, China, India, South Korea, and Australia are the highest revenue generators. Favorable government initiatives, improved healthcare infrastructure, and increased healthcare spending are expected to drive the global spinal implant market in the region during the forecast period.. Germany, the UK, France, Italy, and Spain are the major revenue contributors in the European region. Also, Latin America and MEA are likely to grow at higher CAGRs than North America. However, these regions are likely to lag Europe and APAC in terms of growth rate.
Market Segmentation by Geography
• North America
o South Korea
• Latin America
o Saudi Arabia
o South Africa
Key Vendor Analysis
The global spinal implant market is highly competitive and dynamic due to the presence of several global, regional, and local vendors offering a diverse range of spine implants for treating many spine disorders. Collaborations and new product launches will be some of the crucial aspects for companies to maintain revenue growth in the coming years. Further, multiple product launches, strategic acquisitions, and differentiated products are expected to drive the global spinal implant market.
Key Vendors in the Global Spinal Implant Market
• Johnson & Johnson
• Globus Medical
• Zimmer Biomet
Other Prominent Vendors in the Spinal Implant Market
• Alphatec Spine
• Captiva Spine
• CarboFix Orthopedics
• Camber Spine
• CTL Amedica
• Centinel Spine
• FH ORTHO
• Life Spine
• Maxxspine Deutschland
• Medacta International
• Meditech Spine
• MicroPort Scientific
• Neuro France Implants
• Paradigm Spine
• Precision Spine
• Premia Spine
• RD Medical
• RTI Surgical
• S14 IMPLANTS
• Safe Orthopedics
• SIGNUS Medizintechnik
• Spinal Elements
• Spinal Kinetics
• Spine Wave
• TAEYEON Medical
• Tria Spine
• ulrich medical
• wenzel spine
Key Market Insights
The report provides the following insights into global spinal implant market for the forecast period 2019–2024.
• Offers market sizing and growth prospects of the spinal implant market for the forecast period 2019–2024.
• Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the global spinal implant market.
• Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of market segments and the regional outlook of the spinal implant market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the global spinal implant market.
Read the full report: https://www.reportlinker.com/p05812404/?utm_source=PRN
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: email@example.com
Intl: +1 339-368-6001