Spinal Implants Market Size Worth USD 12.78 Billion in 2032 | Emergen Research

January 3, 2024

Increasing prevalence of minimally invasive surgical procedures, rising prevalence of spinal disorders, and rapid advancements in spinal surgery technologies are key factors driving market revenue growth

Vancouver, Jan. 03, 2024 (GLOBE NEWSWIRE) — The global spinal implants market reached a valuation of USD 7.83 Billion in 2022, with an anticipated CAGR of 5.1% during the forecast period. Factors driving market growth include increased adoption of Minimally Invasive Surgical (MIS) techniques, advancements in spinal surgery technologies, and a surge in spinal disorders.

Spinal implants, instrumental in stabilizing, correcting deformities, and strengthening the spine, are primarily made of metals like stainless steel or titanium. High treatment costs pose a challenge to market growth, with spinal surgeries estimated to cost USD 105 billion annually in the U.S. A notable trend is the development of implants focused on minimally invasive and motion-preserving stabilization, addressing patient needs efficiently.

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Driving Factors:

Minimally Invasive Surgical Techniques: The adoption of Minimally Invasive Surgical (MIS) techniques, including computer-assisted navigation and robot-assisted surgery, has grown significantly. These techniques reduce surgery difficulties, risks, and recovery times, contributing to improved patient outcomes.

Advancements in Spinal Surgery Technologies: Companies like Medtronic plc have introduced next-generation spinal technologies, streamlining procedures, personalizing care, and enhancing patient outcomes.

Rising Spinal Disorders: Factors such as obesity, poor lifestyle choices, and smoking contribute to the increasing prevalence of spinal disorders, leading to a higher demand for spinal implants.

Challenges:

High Treatment Costs: The market faces challenges due to the high cost associated with spinal implant treatments, including implants, hospital stays, surgical supplies, anesthesia, and post-operative care.

Trends:

Motion-Preserving Implants: A recent trend in the market is the development of implants like RTI Surgical Holdings’ Coflex, a posterior lumbar mobility preservation device, offering a unique minimally invasive stabilization solution.

Product Insights:

Thoracic and Lumbar Fusion Devices Lead: In 2022, thoracic fusion and lumbar fusion devices dominated the market, accounting for the largest revenue share. The increasing number of bone grafting and spinal treatments contributed to this segment’s growth.

Non-Fusion Devices on the Rise: The non-fusion devices segment is expected to see moderate revenue growth, driven by innovative products aimed at providing spinal stability without fusion. Artificial discs and growth sparing devices are gaining popularity.

Technology Insights:

Spinal Fusion and Fixation Prevail: Spinal fusion and fixation technologies are anticipated to hold a significant revenue share during the forecast period due to a wide range of surgical techniques and FDA approvals for related technologies.

Motion Preservation Technology Grows Rapidly: The motion preservation/non-fusion segment is expected to register the fastest growth, offering alternatives to spinal fusion for conditions like degenerative disc degeneration, facet pain, and lumbar spinal stenosis.

Type of Surgery Insights:

Minimally Invasive Surgeries Dominate: The minimally invasive surgeries segment is projected to account for the largest revenue share, driven by the advantages it offers over open surgery, including specialized instruments, smaller incisions, and improved imaging methods.

Regional Insights:

North America Leads Market Share: North America dominated the market in 2022, attributed to government initiatives, technological advancements, and a rising rate of obesity. Spinal issues are more common in obese individuals, leading to increased demand for spinal implants.

Asia Pacific Emerges as Growth Leader: The Asia Pacific region is expected to witness the fastest revenue growth rate, fueled by increasing healthcare expenses, effective hospital service management, and a rising number of patients seeking care for spinal injuries.

Europe Shows Considerable Growth: Europe is expected to account for a significant revenue share due to an aging population, growing demand for spinal implants, and an increasing number of patients with spinal diseases.

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Scope of Research

Report Details	Outcome
Market Size in 2022	USD 7.83 Billion
CAGR (2023–2032)	5.1%
Revenue Forecast To 2032	USD 12.78 Billion
Base Year For Estimation	2022
Historical Data	2019–2021
Forecast Period	2023–2032
Quantitative Units	Revenue in USD Billion and CAGR in % from 2023 to 2032
Report Coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered	Product, technology, type of surgery, and region
Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope	U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Russia, Rest of Europe, China, India, Japan, South Korea, ASEAN Countries, Oceania, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled	Globus Medical, Abbott, Orthofix US LLC, B. Braun SE, Zimmer Biomet, Medtronic, Boston Scientific Corporation, Stryker, Exactech, Inc., Nuvasive, Inc., Integra LifeSciences, RTI Surgical Holdings, ATEC Spine, Inc., Ulrich GmbH & Co. KG, and SeaSpine
Customization Scope	10 hours of free customization and expert consultation

Major Companies and Competitive Landscape

The global spinal implants market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective spinal implants treatment in the market.

Some major players included in the global spinal implants market report are:

Globus Medical
Abbott
Orthofix US LLC,
B. Braun SE
Zimmer Biomet
Medtronic
Boston Scientific Corporation
Stryker
Exactech, Inc.
Nuvasive, Inc.
Integra LifeSciences
RTI Surgical Holdings
ATEC Spine, Inc.
Ulrich GmbH & Co. KG
SeaSpine

Strategic Development

In November 2020, Medtronic purchased Medicrea, a French startup that was at the forefront of Artificial Intelligence (AI) and predictive modelling revolution in spinal surgery.
In November 2020, Deputy Synthes, a U.S. subsidiary of Johnson & Johnson Services, Inc., introduced Symphony Occipito-Cervico-Thoracic (OCT) System to treat patients with severe cervical spine problems.

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Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global spinal implants market on the basis of product, technology, type of surgery, and region:

Product Outlook (Revenue, USD Billion; 2019-2032)
- Thoracic Fusion and Lumbar Fusion Devices
  1. Posterior Thoracic Fusion and Lumbar Fusion Devices
  2. Interbody Thoracic Fusion and Lumbar Fusion Devices
  3. Anterior Thoracic Fusion and Lumbar Fusion Devices
- Cervical Fusion Devices
  1. Anterior Cervical Fusion Devices
    - Anterior Cervical Plates
    - Cervical Interbody Fusion Devices
    - Anterior Cervical Screw Systems
  2. Posterior Cervical Fusion Devices
    - Posterior Cervical Plates
    - Posterior Cervical Screws
    - Posterior Cervical Rods
- Spine Biologics
  1. Demineralized Bone Matrix
  2. Bone Morphogenetic Proteins
  3. Bone Substitutes
  4. Machined Bones
  5. Cell-based Matrices
  6. Allograft Bone
- Vertebral Compression Fractures (VCF) Treatment Devices
  1. Balloon Kyphoplasty Devices
  2. Vertebroplasty Devices
- Spinal Decompression Devices
  1. Discectomy
  2. Laminoplasty, Laminectomy, and Laminotomy
  3. Foraminotomy and Foraminectomy
  4. Facetectomy
  5. Corpectomy
- Non-fusion Devices
  1. Dynamic Stabilization Devices
    - Interspinous Process Spacers
    - Pedicle Screw-based Dynamic Rod Devices
    - Facet Replacement Products
  2. Artificial Discs
    - Artificial Cervical Discs
    - Nuclear Disc Prostheses
  3. Annulus Repair Devices
  4. Nuclear Disc Prostheses
- Spine Bone Stimulators
  1. Noninvasive Spine Bone Stimulators
    - Pulsed Electromagnetic Field Devices
    - Capacitive Coupling (CC) and Craniomaxillofacial (CMF) Devices
  2. Invasive Spine Bone Stimulators
Technology Outlook (Revenue, USD Billion; 2019-2032)
- Spinal Fusion and Fixation.
- Motion Preservation/Non-fusion
- Vertebral Compression Fracture Treatment
- Spinal Decompression
Type of Surgery Outlook (Revenue, USD Billion; 2019-2032)
- Open Surgeries
- Minimally Invasive Surgeries
Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
  1. U.S.
  2. Canada
- Europe
  1. Germany
  2. France
  3. UK
  4. Italy
  5. Spain
  6. Benelux
  7. Russia
  8. Rest of Europe
- Asia Pacific
  1. China
  2. Japan
  3. South Korea
  4. India
  5. ASEAN Countries
  6. Oceania
  7. Rest of APAC
- Latin America
  1. Brazil
  2. Mexico
  3. Rest of LATAM
- Middle East & Africa
  1. GCC Countries
  2. Israel
  3. Turkey
  4. South Africa
  5. Rest of Middle East & Africa

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