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Global Spine Implants Market Trends and Investment Opportunities

Global Spine Implants Market

Market Size Analysis:

According to a report by Altus Market Research titled, “Spine Implants Global Market 2022 Opportunities And Strategies To 2031 By Product: (Spinal Fusion Devices; Non-Fusion Devices/Motion Preservation Devices; Vertebral Compression Fracture (VCF) Treatment Devices; Spinal Bone Stimulators And Spine Biologics)“, the global spine implants market reached a value of nearly $10,486.4 million in 2021, having increased at a compound annual growth rate (CAGR) of 2.3% since 2016. The market is expected to grow from $10,486.4 million in 2021 to $13,111.2 million in 2026 at a rate of 4.6%. The market is then expected to grow at a CAGR of 4.9% from 2026 and reach $16,673.4 million in 2031.

Market Growth by Key Players:

The global spine implants market is concentrated, with a small number of large players. The top ten competitors in the market made up to 75.87% of the total market in 2021. Major players in the market include Medtronic plc, Johnson & Johnson, Stryker Corporation, NuVasive, Inc., Zimmer Biomet Holdings, Inc. and others.

Strategies by Key Players:

Player-adopted strategies in the spine implants industry includes strengthening its product portfolio by launching new products, adding new smart devices and implants via mergers and acquisitions, and changing the complexion of their business through active portfolio management.

Request Research Sample with Latest Industry Insights (270+ Pages Report): https://altusmarketresearch.com/reports/sample/43205

Other Players Covered in the report

Medtronic plc, Johnson & Johnson, Stryker Corporation, NuVasive, Inc., Zimmer Biomet Holdings, Inc., Orthofix Medical Inc., SeaSpine Holdings Corporation, Narang Medical Limited, Atlas Surgical, Auxein Medical and Sharma Spine Medical Pvt. Ltd, Teijin Nakashima Medical Co, Seikagaku Corporation, Anatomics, New Zealand Spine (NZOA), Tianjin Walkman Biomaterials, Sunan Zimede Medical Instruments Co., Ltd, Smith & Nephew, aap Implantate AG, Orthopaedic & Spine Development (OSD), Waldemar Link GmbH & Co. KG, Amplitude SAS, Corin Group PLC, Precision Medical Technologies (Poland), Baltic Implants, Aequos Endoprothetik GmbH, Beznoska Company Ltd, SpineGuard, Integra Life Sciences, B. Braun Melsungen AG, Benvenue Medical, DePuy Synthes, Globus Medical, Inc., Aesculap, Inc.,

Market Growth Drivers:

Growth in the historic period resulted from rising incidences of spinal disorders, growth in the number of healthcare facilities, growing demand for spine surgeries in emerging markets, rapid growth in elderly population, launch of advanced bone grafting products, and increasing adoption of minimally invasive spine surgeries. Factors that negatively affected growth in the historic period were the product recalls, low healthcare access, high cost of replacement surgery, and impact of COVID-19.

Going forward, advancements in spine surgery technologies, increasing elderly population, changes in lifestyles, faster economic growth and increasing reimbursement for spine implants will drive market growth. Factors that could hinder the growth of the spine implants market in the future include post-surgery complications and challenges due to regulatory changes.

Market Growth by Segments:

The spine implants market is segmented by product into spinal fusion devices, non-fusion devices/motion preservation devices, vertebral compression fracture (VCF) treatment devices, and spinal bone stimulators and spine biologics. The spinal fusion devices was the largest segment of the spine implants market by product, accounting for $5,202.9 million or 49.6% of the total market in 2021. The vertebral compression fracture (VCF) treatment devices market is expected to be the fastest-growing segment going forward at a CAGR of 5.2%.

The spine implants market is also segmented by procedure into open surgery and minimally invasive surgery (MIS). The open surgery was the largest segment of the spine implants market by procedure, accounting for $5,991.1 million or 57.1% of the total market in 2021. The minimally invasive surgery (MIS) market is expected to be the fastest-growing segment going forward at a CAGR of 5.1%.

The spine implants market is also segmented by material into metallic, polymeric, and ceramic. The metallic market was the largest segment of the spine implants market by material, accounting for $6,300.9 million or 60.1% of the total market in 2021. The metallic market is expected to be the fastest-growing segment going forward at a CAGR of 4.6%.

Market Growth by End Users:

The spine implants market is also segmented by end user into hospitals, specialty orthopedic and spine centers, and ambulatory surgical centers. The hospitals market was the largest segment of the spine implants market by end user, accounting for $4,160.6 million or 39.7% of the total market in 2021. The specialty orthopedic and spine centers market is expected to be the fastest-growing segment going forward at a CAGR of 4.9%.

Market Growth by Region:

North America was the largest region in the spine implants market, accounting for 41.4% of the global market in 2021. It was followed by Asia Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the spine implants market will be Asia Pacific and the Western Europe, where growth will be at CAGRs of 6.8% and 4.7% respectively from 2021-2026.

Future Investment Opportunities:

The top growth potential in the spine implants market by product will arise in the spinal fusion devices market, which will gain $1,188.0 million of global annual sales by 2026. The top growth potential in the spine implants market by procedure will arise in the open surgery market, which will gain $1,361.5 million of global annual sales by 2026. The top growth potential in the spine implants market by material will arise in metallic market, which will gain $1,600.3 million of global annual sales by 2026. The top growth potential in the spine implants market by end user will arise in specialty orthopedic and spine centers market, which will gain $997.4 million of global annual sales by 2026. The spine implants market size will gain the most in the USA at $ 755.9 million.

Market: Trend-based Strategies

Market-trend-based strategies for the spine implants market include adopting nanosurface technology to development of novel bioceramic materials, focusing on development of smart metals, developing novel motion preservation devices for spine implants, investing in 3D printing technologies, offering patient specific instrumentation and adaptive spine technology (AST), focusing on minimally invasive spinal surgery and novel endoscopic spinal surgery.

Growth Strategies by Altus Market Research for Companies in the Market:

To take advantage of the opportunities, Altus Market Research recommends the spinal implants companies to focus on using nanosurface technology in spinal implants, focus on using 3D printing technologies in implants, improve implant designs for minimally invasive spinal surgery, expand in developed markets, set up authorized distributors and sales representatives, expanding in countries offering research incentives, provide competitively priced offerings, focus on securing long-term supply contracts with healthcare institutions, leverage social media use to maximize reach, participate in trade shows and events, focus on increasing awareness and focus on collaborating with hospitals.

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