Global Spinal Implants Market Research Report: Forecast (2024-2030)

Market Definition

Spinal Implants pertain to medical devices utilized during orthopedic surgery to provide spinal stabilization & support. These implants are crafted for treating various spine-related ailments, including degenerative disc disease, fractures, deformities, and instability.

Market Insights & Analysis: Global Spinal Implants Market (2024-30):

The Global Spinal Implants Market size was valued at USD 10.6 billion in 2023 and is estimated to grow at a CAGR of around 6.1% during the forecast period, i.e., 2024-30. The market expansion is attributed to several factors, such as the surge in sports injuries, increasing technological advancements, etc. The United Nations mentioned in 2023 that, globally, every year road traffic crashes cause around 20 to 50 million non-fatal injuries. Such road traffic accidents largely responsible for spinal and other injuries have propelled the demand for spinal implants. 

Also, the world is witnessing a rise in the old-age population. For instance, as per the World Health Organisation (WHO), it has been estimated that by 2030, the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion by 2030. Likewise, the world’s population of people aged 60 years and older will reach 2.1 billion by 2050. Hence, with the increasing burden of the geriatric population, the incidence of bone and spinal disorders is expected to increase across the world, further supporting the adoption of spinal implants for effective treatments.

Moreover, as per WHO, people who are older than 60 years of age suffer the greatest number of fatal falls. Falls result in unintentional injuries, including those corrected with the application of spinal implants. Therefore, the demand for spinal implants would increase during the forecasting years. Predictably, awareness of their benefits coupled with technological advancements within this industry along with an aging population would propel the growth graph during the forecasting years.

Global Spinal Implants Market Driver:

Rising Prevalence of Spinal Disorders to Elevate the Demand Graph – Driven by age & degenerative causes such as osteoarthritis, injuries, etc., the prevalence of various spinal disorders, such as spinal stenosis, spondylolisthesis, and degenerative disc disease, has increased. This has resulted in increased adoption of spinal implants and has accelerated the growth of the Global Spinal Implants Market. Further, the incidence of low back pain (LBP) is increasing across the world. For instance, as per the World Health Organisation (WHO), it is estimated that the number of cases of low back pain (LBP) would increase to 843 million by 2050, up from 619 million in 2020, pushed largely by population expansion & aging.

Individuals with chronic back pain who remain unresponsive to traditional treatments, such as physical therapy, medication, and injections have started considering spinal implants. The spinal implants offer structural stability to the spine by stabilizing segments & decreasing nerve pressure, resulting in reduced agony. Moreover, the demand for spinal implants would increase, considering many people would go for spinal procedures.

Global Spinal Implants Market Opportunity:

Emerging Economies Offering Growth Opportunities – The Spinal Implant Industry is increasingly reliant on emerging markets for growth. Many developing countries like China, India, South Africa, etc., witness a huge burden of spinal disorders driven by an aging population, a surge in road traffic accidents, and fall-causing injuries. Along with that, the healthcare industry in these countries is undergoing a rapid transformation driven by technological advancements, increasing patient expectations, and the need for efficient healthcare delivery systems. Following that, governments are investing in setting up new medical facilities equipped with high-tech medical equipment catering to large population groups. For instance:

• In 2022, Dr Sulaiman Al Habib Medical Services Group, Saudi Arabia, announced a new hospital project in Riyadh City, which is expected to be completed during the first quarter of 2025.

Thus, the setting up of newer facilities would also create an opportunity to generate the demand for spinal implants to provide appropriate care and treatment to patients with spinal disorders across emerging economies in the coming years.

Global Spinal Implants Market Challenge:

Lack of Adequate Physicians & Limited Awareness – In many countries worldwide, particularly the low & lower-middle-income countries, there has been a critical shortage of healthcare workers and a deficit of doctors and nurses. This also includes a shortfall of healthcare professionals having expertise in conducting spinal implant procedures. The lack of adequate physicians has resulted in less-than-ideal experiences for the patients, such as longer wait times to get appointments for surgery. This, in turn, has caused those patients to seek care elsewhere, otherwise withdrawing from surgery, and has negatively impacted the market growth.

Further, physicians' lack of knowledge about recent spinal implant advancements, particularly in minimally invasive spine procedures, combined with limited training opportunities in some areas, has also impacted the market negatively.

Global Spinal Implants Market Trend:

Growing Preference for Minimally Invasive Spinal Implants – The preference for minimally invasive spinal implants is increasing and this comes as a significant trend in the Global Spinal Implants Market. The minimally invasive spinal implants treat spinal conditions with less disruption to surrounding tissues compared to traditional implants. They offer advantages such as reduced trauma, reduced blood loss, reduced risk of surgical complications, reduced risk of infection, reduced scarring, reduced recovery time, and reduced pain and need for medication, which increases their acceptance among the patients and the healthcare professionals.

Consequently, these devices reduce hospital stays and are thus cost-effective, which contributes to their increasing demand. Hence, with an increasing number of patients undergoing spinal procedures with minimally invasive spinal implants, the overall Spinal Implants Market is expected to experience growth in the coming years.

Global Spinal Implants Market (2024-30): Segmentation Analysis

The Global Spinal Implants Market study by MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2024–2030 at the global level. In accordance to the analysis, the market has been further classified as:

Based on Product

• Thoracic Fusion & Lumbar Fusion Devices
• Cervical Fusion Devices
• Spine Biologics
• VCF Treatment Devices
• Spinal Decompression Devices
• Non-fusion Devices
• Spine Bone Stimulators

The Non-fusion Devices segment of the Spinal Implants Market is anticipated to grow with the highest market share over the forecast period. One reason for the increased usage of non-fusion spinal implants is due to a plethora of implant stimulators available worldwide, which, in turn, has been attributed to an aging population and high rates of spine-related illnesses.

Unlike fusion surgeries that cause significant disruptions in adjacent tissues, non-fusion procedures offer minimal interference, potentially leading to quicker recovery times, something highly sought after by patients seeking speedy rehabilitation outcomes. Further, the rise in several sports injuries and increasing cases of accidental falls have contributed to the growing demand for spinal implants, as individuals who have witnessed such cases must have been required to undergo spinal implant procedures to return to their daily lives.

Based on End User

• Hospitals
• Specialty Clinics
• Others

Hospitals accounted for the largest share of the Spinal Implants Market. This has been primarily attributed to the fact that hospitals have been major medical facilities catering to people suffering from a wide range of conditions, including spinal disorders and others. Also, there has been significant progress in the development of hospitals globally, driven by increasing health awareness & the aim to improve public healthcare.

Also, governments across different countries have been making efforts to continuously boost the healthcare infrastructure of their country, which has resulted in improved investments in new hospital construction. Hence, as the number of hospitals increases in the coming years, it would generate an opportunistic demand for spinal implants as well.

Global Spinal Implants Market (2024-30): Regional Projection

Geographically, the Global Spinal Implants Market expands across:

• North America
• South America
• Europe
• The Middle East & Rest of Africa
• Asia-Pacific

North America holds the largest share of the Global Spinal Implants Market. The dominance has been attributed to the presence of key players, product introductions, government initiatives, etc. There are a large number of patients with various orthopedic diseases, including arthritis in the region. Arthritis has been associated with causing a range of spinal disorders including spinal stenosis, spondylosis, etc. Hence, with the surge in several patients with arthritis, the risk for spinal stenosis, spondylosis, and other spinal disorders has increased. These patients underwent spinal implant procedures which have accelerated the North American Spinal Implants Market.

Also, the increased participation in sports and other activities has led to a rise in the incidence of sports-related injuries including those that affect the spine. Moreover, the increase in the old-age population would also escalate the burden for several spinal disorders such as spinal stenosis, low back pain (LBP), etc., which would generate more demand for spinal implants, positively impacting the regional market.

Global Spinal Implants Industry Recent Development:

• 2023: The Inceptiv spinal cord stimulator by Medtronic has granted CE Mark approval, which includes closed-loop sensing as a measure against chronic pain.
• 2022: The Summit LTX Plus Interbody System by Depuy Synthes was introduced to the market, further broadening their offerings of intervertebral spacers for lumbar fusion procedures. This latest addition boasts improved design features.

Gain a Competitive Edge with Our Global Spinal Implants Market Report

• Global Spinal Implants Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
• This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
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