Dublin, Sept. 04, 2019 (GLOBE NEWSWIRE) -- The "Spine Implants Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The Global Spinal Implant Market is expected to reach more than $12 billion during the period 2018-2024.
Key Market Insights
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 20182024. 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.
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.
Geographical Analysis
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.
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 Topics Covered
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments
4.4.1 Market Segmentation by Products
4.4.2 Market Segmentation by Surgery
4.4.3 Market Segmentation by End-users
4.4.4 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at A Glance
7 Introduction
7.1 Spine Surgery: An Overview
7.1.1 Background
7.1.2 Surgical Interventions for Spine Disorders/Ailments
7.1.3 Spine Implants: Market Snapshot
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Growing Prevalence of Spine Disorders & Spine Injuries
8.1.2 Growing Demand for MI Spine Surgeries
8.1.3 Availability of a Broad Range of Approved Innovative Spine Implants
8.2 Market Growth Restraints
8.2.1 Product Recalls
8.2.2 Risks & Complications Associated with Spine Surgeries
8.2.3 Stringent Regulations for Spine Implants Approval
8.3 Market Opportunities & Trends
8.3.1 Emergence of 3D-Printed and Custom-Fit Spine Implants
8.3.2 Growing Demand for Latest Generation Spine Implants
8.3.3 Advent of Bioabsorbable Spine Implants
8.3.4 Increasing Strategic Acquisitions
9 Global Spine Implants Market
9.1 Market Overview
9.2 Market Size & Forecast
9.3 Five Forces Analysis
9.3.1 Threat of New Entrants
9.3.2 Bargaining Power of Suppliers
9.3.3 Bargaining Power of Buyers
9.3.4 Threat of Substitutes
9.3.5 Competitive Rivalry
10 By Product
10.1 Market Snapshot & Growth Engine
10.2 Market Overview
10.3 Spinal Fusion Implants
10.4 Spine Biologics
10.5 VCF Treatment Devices
10.6 Spinal Non-fusion Implants
10.7 Bone Growth Electrical Stimulation Devices
11 By Surgery
11.1 Market Snapshot & Growth Engine
11.2 Market Overview
11.3 Open Spine Surgeries
11.4 MI Spine Surgeries
12 By End-User
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Hospitals
12.4 Specialty Orthopedic & Spine Centers
12.5 ASCs
13 By Geography
13.1 Market Snapshot & Growth Engine
13.2 Overview
14 North America
15 APAC
16 Europe
17 Latin America
18 Middle-East & Africa
19 Competitive Landscape
19.1 Competition Overview
19.2 Market Share Analysis
20 Key Company Profiles
20.1 Medtronic
20.2 Johnson & Johnson
20.3 Stryker
20.4 NuVasive
20.5 Globus Medical
20.6 Zimmer Biomet
21 Other Prominent Vendors
21.1 ARCA-MEDICA
21.2 Astrofiks
21.3 Alphatec Spine
21.4 A-SPINE
21.5 Biorthex
21.6 Captiva Spine
21.7 CarboFix Orthopedics
21.8 Camber Spine
21.9 Corentec
21.10 CTL Amedica
21.11 Centinel Spine
21.12 CoreLink
21.13 FH ORTHO
21.14 iSpine
21.15 LfC
21.16 Life Spine
21.17 Maxxspine Detuschland
21.18 Medacta International
21.19 mEDICREA
21.20 Meditech Spine
21.21 MEDYSSEY
21.22 MicroPort Scientific
21.23 NEURO FRANCE Implants
21.24 Orthofix
21.25 OsteoMed
21.26 Paradigm Spine
21.27 Precision Spine
21.28 Premia Spine
21.29 RD Medical
21.30 RTI Surgical
21.31 S14 IMPLANTS
21.32 Safe Orthopedics
21.33 SeaSpine
21.34 SI-BONE
21.35 SIGNUS Medizintechnik
21.36 Spinal Elements
21.37 Spinal Kinetics
21.38 Spine Wave
21.39 Spineart
21.40 SpineCraft
21.41 Spineology
21.42 Spineway
21.43 TAEYEON Medical
21.44 Trans1
21.45 Tria Spine
21.46 TST
21.47 ulrich medical
21.48 wenzel spine
21.49 ZAVATION
21.50 Z-Medical
21.51 ZygoFix
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