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2020

Spinal Implant and Devices Market

Spinal Implant and Devices Market Size, Share, Competitive Landscape and Trend Analysis Report by Type and Surgery : Global Opportunity Analysis and Industry Forecast 2020-2027

LS : Medical Devices & Supplies

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Author's: Ravi Telugunta|Sumitra Choudhary | Roshan Deshmukh
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The global spinal implants and devices market was valued at $11,356.59 million in 2019 and is projected to reach $15,054.07 million by 2027 at a CAGR of 5.7% from 2020 to 2027. 

Spinal implants are devices used to enable fusion and improve stability of spine, strengthen the spine, and treat spinal level deformities. Spinal implants are used to treat various disorders such as scoliosis, spondylolisthesis, kyphosis, and fracture. Its primary function is to help fuse two vertebrae together and replace natural disc material. This technique is used to immobilize vertebrae to eliminate or significantly reduce the pain caused by abnormal movement of vertebrae through immobilization. Spine level treatment options are continuously evolving with introduction of new age spine implants and devices. Further, use of these implants and devices is being one of the effective and recommended options for treatment of spine misalignments or degenerative changes.

Spinal-Implant-and-Devices-Market-2020-2027

The major factors that contribute toward growth of the spinal implant and devices market include shift toward minimally invasive spine procedures; rise in elderly population; surge in prevalence of spinal disorders, owing to sedentary lifestyle; and advancements in spine surgery. However, unfavorable reimbursement scenario, present pandemic situation, and stringent regulatory approvals are expected to restrain the spinal implant and devices market growth. On the contrary, emerging markets are expected to drive the demand for spinal implants and devices. In addition, advancement in augmented and virtual reality, endoscopic surgery and 3D printed implants for minimally invasive surgery is also expected to fuel the market growth. 

The coronavirus disease (COVID-19) has spread across the globe. Further, owing to increase in number of corona virus patients, governments have imposed several rules and lockdown across the globe, which has resulted into closure of manufacturing and production operations of companies operating in the spinal implant and devices market. In addition, hospitals have also independently announced a reduction, postponement, or cancelation of elective surgeries, including many orthopedic and spine cases as practitioners and surgeons are engaged in treating corona patients. This discontinuity in proceedings of business operations and other related procedures directly influences revenue drift of the market. Therefore, the aforementioned factors are expected to hamper the spinal implant and devices market growth during the forecast period.

Global Spinal Implant and Devices Market Segmentation  

The report segments the spinal implants and devices market on the basis of type, surgery, and region. By type, it is segmented into spinal fusion implants, motion preservation devices, vertebral compression fracture (VCF) devices, spine bone stimulators, and spine biologics. Further the spinal fusion implants segment is divided into thoracolumbar devices, cervical fixation devices, and interbody fusion devices. The vertebral compression fracture devices segment is further divided into balloon kyphoplasty devices and vertebroplasty devices. The motion preservation devices segment is further divided into dynamic stabilization devices, artificial discs, annulus repair devices, and nuclear disc prostheses. The spine bone stimulators segment is further divided into non-invasive spine bone stimulators and invasive spine bone stimulators. The spine biologics segment is further divided into spinal allografts, bone graft substitutes, and cell-based matrix.

By surgery type, it is bifurcated into open spine surgery and minimally invasive spine surgery. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.  

Segment Review

On the basis of type, the spine fusion implant segment dominated the market in 2019. This is attributed to rise in incidences of target diseases (such as degenerative disc disease and spinal stenosis. Furthermore, the motion preservation devices segment is expected to exhibit the fastest growth, owing to lesser complications associated with it.

On the basis of surgery, the open spine surgery segment was the largest revenue contributor in 2019, and is expected to register a CAGR of 5.3% during the forecast period. This is attributed to increase in preference for open spine surgeries among medical professionals and rise in incidences of spinal deformities. In addition, some spine procedures, such as spinal implant insertions, can only be done through open surgeries, which is another major factor that supports the segment growth. However, the minimally invasive spine surgery segment is estimated to register the highest CAGR of 6.9% during the forecast period. This is attributed as the minimally invasive spine surgery (MISS)  has potentially minimizing damage to surrounding tissues and anatomical structures. Further, it also offers advantages such as lower blood loss, faster recovery, lesser traumas & incisions, and reduced hospital stay.

Spinal Implant and Devices Market
By Type
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Spinal fusion implant segment holds a dominant position in 2019

North America accounted for the majority of revenue in 2019, and is expected to maintain its dominance throughout the forecast period. This is attributed to increase in adoption of spinal implants and devices in surgery, rise in procedure volumes from rapidly aging population, and increase in incidence of spinal disorders and impairments, such as spinal stenosis. Moreover, improvement in healthcare expenditure further boosts sales of implants and devices. North America is the largest contributor registering a CAGR of 5.3% during the forecast period. However, Asia-Pacific is projected to be the fastest growing region throughout the analysis period at a CAGR of 6.9%. Improvements in healthcare infrastructure and increase in expenditures in emerging markets (such as India and China) to overcome the unmet medical needs in these countries also boosts the spinal implant and devices market growth. Technological advancements for cost-effective devices in these nations offer a lucrative opportunity for the spinal implants and devices market growth.

Spinal Implant and Devices Market
By Surgery
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Minimally invasive spine surgery segment is projected as one of the most lucrative segment.

The global spinal implant and devices market is highly competitive and prominent players have adopted various strategies to garner maximum spinal implant and devices market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include Alphatec Holdings, Inc., B. Braun Melsungen AG, Exactech, Inc., Johnson & Johnson (DePuy Synthes), Globus Medical, Inc., Medtronic plc, Nuvasive, Inc., Orthofix International N.V., Stryker Corporation, and Zimmer Biomet Holdings, Inc.

Spinal Implant and Devices Market
By Region
2027
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific region would exhibit the highest CAGR of 6.9% during 2020-2027.

Key Benefits For Stakeholders

  • This report entails a detailed quantitative analysis along with the current and future global spinal implant and devices market trends from 2019 to 2027 to identify the prevailing opportunities along with strategic assessment.
  • The spinal implant and devices market forecast is studied from 2019 to 2027. 
  • The spinal implant and devices market size and estimations are based on a comprehensive analysis of key developments in the industry.
  • A qualitative analysis based on innovative products facilitates strategic business planning.
  • The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.

Key Market Segments

By Type

  • Spinal Fusion Implants
    • Thoracolumbar Devices    
      • Anterior Lumbar Plates
      • Lumbar Plates
      • Pedicle Screw
      • Rods
      • Hooks
      • Wires & Cables
      • Crosslinks
    • Cervical Fixation Devices    
      • Anterior Cervical Plates
      • Hook Fixation Systems
      • Plates & Screws
      • Clamps
      • Wires
    • Interbody Fusion Devices    
      • Non-Bone Interbody Fusion Devices
      • Bone Interbody Fusion Devices
    • Vertebral Compression Fracture (VCF) Devices 
      • Balloon Kyphoplasty Devices
      • Vertebroplasty Devices
  • Motion Preservation Devices
    • Dynamic Stabilization Devices
  • Interspinous Process Spacers
    • Pedicle Screw-Based Systems
    • Facet Replacement Products
    • Artificial Discs
      • Artificial Cervical Discs
      • Artificial Lumbar Discs
    •  Annulus Repair Devices
    •  Nuclear Disc Prostheses
  • Spine bone stimulators 
    • Non-Invasive Spine Bone Stimulators
      • Pulsed Electromagnetic Field Device
      • Capacitive Coupling (CC) and Combined (Electro) Magnetic Field (CMF) Devices
    • Invasive Spine Bone Stimulators    
  • Spine Biologics 
    • Spinal Allografts    
      • Machined Bones Allograft
      • Demineralized Bone Matrix
  • Bone Graft Substitutes
    • Bone Morphogenetic Proteins
    • Synthetic Bone Grafts 
  • Cell-Based Matrix

By Surgery 

  • Open Spine Surgery
  • Minimally Invasive Spine Surgery

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

Spinal Implant and Devices Market Report Highlights

Aspects Details
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By PRODUCT
  • Spinal Fusion Devices
    • Thoracolumbar devices
    • Cervical Fixation Devices
    • Interbody Fusion Devices
  • Spine Bone Stimulators
    • Non-invasive spine bone stimulators
    • .Invasive spine bone stimulators
  • Motion Preservation Devices
    • Dynamic stabilization systems
      • Artificial Discs
      • Annulus repair devices
      • Nucleus disc prosthesis device
  • Vertebral Compression Fracture Devices
    • Balloon kyphoplasty devices
    • Vertebroplasty devices
  • Spine Biologics
    • Spinal allografts
    • Bone graft substitutes
    • Cell based matrix
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By SURGERY
  • Open Spine Surgery
  • Minimally Invasive Spine Surgery
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
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Key Market Players

Exactech, Inc., Orthofix International N.V., Medtronic plc., Nuvasive, Inc., Alphatec Holdings, Inc., Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, Globus Medical, Inc., Stryker Corporation, Johnson & Johnson (DePuy Synthes)

Analyst Review

The global spinal implants and devices market is expected to be negatively impacted by Covid-19 pandemic as majority of hospitals are in the process of postponing spinal related surgeries. However, the adoption of spinal implants and devices are expected to increase during the forecast period, owing to advancements in surgical options and rise in incidence rate of spinal impairments globally. The spinal implants and devices market has piqued the interest of healthcare professionals, owing to increase in use of these devices for treatment of spinal deformities.

Furthermore, increase in demand for minimally invasive surgical options is expected to drive the spinal implants and devices market. Moreover, adoption of non-fusion/motion preservation devices has increased in recent years, owing to their higher success rates compared to the fusion process. In addition, adoption of dynamic stabilization has also witnessed a rapid increase as the devices used during the procedure are made up of flexible material, which helps retain mobility in the spine. However, the present pandemic situation, unfavorable reimbursement scenario, and stringent regulatory approval procedures are expected to hamper the market growth. 

The use of these spinal implants and devices is highest in North America, owing to heavy expenditure by governments on healthcare and supportive reimbursement policies. The region is followed by Europe and Asia-Pacific.


 

Author Name(s) : Ravi Telugunta|Sumitra Choudhary | Roshan Deshmukh
Frequently Asked Questions?

The total market value of spinal implant and devices market is $11,356.59 million in 2019

The forcast period for spinal implant and devices market is 2020 to 2027

The market value of spinal implant and devices market in 2027 is $15,054.07 million

The base year is 2019 in spinal implant and devices market

Top companies such as, Johnson & Johnson (DePuy Synthes), Globus Medical, Inc., Medtronic plc, Nuvasive, Inc., Orthofix International N.V., Stryker Corporation held a high market position in 2019. These key players held a high market postion owing to the strong geographical foothold in different regions.

Motion preservation devices segment is the most influencing segment owing to lesser complications associated to it.

The major factor that fuels the growth of the global spinal implant and devices market includes shift towards minimal invasive spine procedures, growing elderly population, increasing prevalence of spinal disorders and rise in incidences of spinal disorders due of sedentary lifestyle, advancements in spine surgery.

Asia-Pacific has the highest growth rate in the market which is growing due to the contribution of the following emerging countries such as India with a CAGR of 6.9%. This is due to rising healthcare expenditure, technological advancements for cost-effective devices in these nations offer a lucrative opportunity for the spinal implants and devices market growth

Spinal implants is a devices used to enables fusion improves stability of spine, strengthen the spine, and to treat deformities

Spinal implant is used to treat various disorders which include scoliosis, spondylolisthesis, kyphosis, and fracture

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Spinal Implant and Devices Market

Global Opportunity Analysis and Industry Forecast 2020-2027