Spinal Implant and Devices Market: Current Analysis and Forecast 2021-2027

Global Spinal Implant and Devices Market was valued at approximately US$ 11.36 billion in 2020 and is anticipated to grow at a CAGR of around 5.3% over the forecast period (2021-2027). Spinal implants are devices surgeons use during surgery to treat deformity, stabilize, and strengthen the spine, and facilitate fusion. Disorders treated using spinal implants include degenerative disc disease, scoliosis, kyphosis, spondylolisthesis, and fracture. The spinal implants can be made from different materials such as titanium, titanium-alloy, stainless steel, and plastics. Surgeons and medical professionals across the globe prefer Titanium implants because of the superior properties of the titanium. Titanium is strong and lightweight and is a durable element and can be imaged using MRI (magnetic resonance imaging). Surgery Devices are produced in different sizes and shapes and some, such as they can be contoured during surgery to fit the patient's anatomy. Many implants, such as cervical plates, are low profile meaning they are not bulky and lay flatter against the spine's anatomy. Pedicle screws may be coated with a material to stimulate fusion.
The growth of this market is driven owing to advancements in spine surgery technologies, increasing incidence of spinal disorders, the launch of advanced bone grafting products, and the increasing adoption of minimally invasive spine surgeries. For instance, In August 2019, Mantiz a South Korean specialist producer of spinal implants entered a partnership with Shining 3D Tech. Co. to use Shining 3D machines to produce medical implants. In addition to this, In 2017, Aesculab launched the lumbar artificial disc replacement, the activL Artificial Disc, which is now available at several hospitals. It is the next evolution of artificial discs, as it has an extra dimension of motion, which is not found in any other product in the market. With this latest generation disc available in the United States, spine surgeons believe they can cost-effectively provide artificial disc replacement to patients, making travelling overseas for surgery unnecessary.
This statistic depicts the causes of spinal cord injuries between 2015 and 2020 in the United States. Since 2015, vehicular accidents were the cause of 38.2 percent of spinal cord injuries. It is estimated that, as of 2019, 17,730 new Spinal Cord Injuries (SCI) cases occur each year and between 249,000 and 363,000 people are currently living with SCI in the United States.
The majority of spinal cord injuries are due to preventable causes such as road traffic crashes, falls or violence. People with a spinal cord injury are two to five times more likely to die prematurely than people without a spinal cord injury, with worse survival rates in low- and middle-income countries. Medtronic, DePuy Synthes, NuVasive, Inc., Stryker Corporation, B. Braun Melsungen AG, Abbott Laboratories, Boston Scientific, Zimmer Biomet Holdings, Inc., Globus Medical, Inc. and Orthofix International N.V. are some of the prominent players operating in the global spinal implant and devices market. Several M&A's along with partnerships have been undertaken by these players to develop new and advanced products.
Insights Presented in the Report
"Amongst product type, thoracic fusion and lumbar fusion devices segment holds the major share"
Based on product type, the global spinal implant and devices market is segregated into thoracic fusion and lumbar fusion devices, cervical fusion devices, spine biologics, non-fusion devices, vertebral compression fracture treatment devices, spine bone stimulators, and others. The thoracic fusion and lumbar fusion devices segment accounted for the largest share of the spinal implants and surgery devices market in 2020. The large share of this segment can be attributed to the increasing incidence of lumbar degenerative disc disease and the growing number of product launches.
"Amongst type of surgery, open surgeries segment holds the major share"
Based on type of surgery, the spinal implants and surgery devices market is bifurcated into open surgeries and minimally invasive surgeries. The open surgeries segment accounted for the largest share of the spinal implants and surgery devices market in 2020. The large share of this segment can be attributed to the increasing preference for open spine surgeries among medical professionals, rising incidence of spinal deformities, and technological advancements in spinal fusion surgeries. 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.
"Amongst technology, the spinal fusion and fixation technologies segment holds the major share"
Depending on technology, the spinal implants and surgery devices market is segmented into spinal fusion and fixation, vertebral compression fracture treatment, motion preservation/non-fusion, and others. Out of which, the spinal fusion and fixation technologies segment accounted for the largest share of the spinal implants and surgery devices market in 2020. The large share of this segment can be attributed to the rising incidence of target diseases (such as degenerative disc disease and spinal stenosis) with the growing geriatric population across the globe, a growing number of spinal fusion procedures, and technological advancements in spinal fusion techniques and bone grafting procedures.
Amongst end user, the hospitals & clinics segment is projected to show fastest growth"
"North America signifies one of the largest markets of Spinal Implant and Devices market"
For a better understanding of the market dynamics of the spinal implant and devices market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), Rest of World has been conducted. North America is expected to dominate the spinal implant and devices market due to strong presence of well-developed healthcare infrastructure and rise in the government funding to support research and development for spine treatment. However, Asia-Pacific is expected to expand at a significant growth rate over the forecast period because of the developing healthcare infrastructure, increase in the ageing population and the presence of a large patient population.
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- Deep dive regional level analysis of the industry
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Spinal implants are devices surgeons use during surgery to treat deformity, stabilize and strengthen the spine, and facilitate fusion. Disorders treated using spinal implants include degenerative disc disease, scoliosis, kyphosis, spondylolisthesis, and fracture. The spinal implants can be made from different materials such as titanium, titanium-alloy, stainless steel, and plastics. Surgeons and medical professionals across the globe prefer Titanium implants because of the superior properties of the titanium. Titanium is strong and light-weight and is a durable element and can be imaged using MRI (magnetic resonance imaging).
Surgery Devices are produced in different sizes and shapes and some, such as they can be contoured during surgery to fit the patient's anatomy. Many implants, such as cervical plates, are low profile meaning they are not bulky and lay flatter against the spine's anatomy. Pedicle screws may be coated with a material to stimulate fusion.
The growth of this market is driven owing to advancements in spine surgery technologies, increasing incidence of spinal disorders, the launch of advanced bone grafting products, and the increasing adoption of minimally invasive spine surgeries. For instance, In August 2019, Mantiz a South Korean specialist producer of spinal implants entered a partnership with Shining 3D Tech. Co. to use Shining 3D machines to produce medical implants. In addition to this, In 2017, Aesculab launched the lumbar artificial disc replacement, the activL Artificial Disc, which is now available at several hospitals. It is considered to be the next evolution of artificial discs, as it has an extra dimension of motion, which is not found in any other product in the market. With this latest generation disc available in the United States, spine surgeons believe they can cost-effectively provide artificial disc replacement to patients, making travelling overseas for surgery unnecessary.
On the basis of product type, the global spinal implant and devices market is segregated into thoracic fusion and lumbar fusion devices, cervical fusion devices, spine biologics, non-fusion devices, vertebral compression fracture treatment devices, spine bone stimulators, and others. The thoracic fusion and lumbar fusion devices segment accounted for the largest share of the spinal implants and surgery devices market in 2020. The large share of this segment can be attributed to the increasing incidence of lumbar degenerative disc disease and the growing number of product launches.
Based on type of surgery, the spinal implants and surgery devices market is bifurcated into open surgeries and minimally invasive surgeries. The open surgeries segment accounted for the largest share of the spinal implants and surgery devices market in 2020. The large share of this segment can be attributed to the increasing preference for open spine surgeries among medical professionals, rising incidence of spinal deformities, and technological advancements in spinal fusion surgeries. 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.
Depending on technology, the spinal implants and surgery devices market is segmented into spinal fusion and fixation, vertebral compression fracture treatment, motion preservation/non-fusion, and others. Out of which, the spinal fusion and fixation technologies segment accounted for the largest share of the spinal implants and surgery devices market in 2020. The large share of this segment can be attributed to the rising incidence of target diseases (such as degenerative disc disease and spinal stenosis) with the growing geriatric population across the globe, a growing number of spinal fusion procedures, and technological advancements in spinal fusion techniques and bone grafting procedures.
For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, United Kingdom, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of APAC), and Rest of World. North America is expected to dominate the spinal implant and devices market owing to the strong presence of well-developed healthcare infrastructure and rise in the government funding to support research and development for spine treatment. However, Asia-Pacific is expected to expand at a significant growth rate over the forecast period because of the developing healthcare infrastructure, increase in the ageing population and the presence of a large patient population.
Some of the major players operating in the market include Medtronic, DePuy Synthes, NuVasive, Inc., Stryker Corporation, B. Braun Melsungen AG, Abbott Laboratories, Boston Scientific, Zimmer Biomet Holdings, Inc., Globus Medical, Inc. and Orthofix International N.V.