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Spine Therapy Market Detailed Analysis and Growth Strategies, Regional Forecast 2027

Spine Therapy Market

The global spine therapy market is forecast to reach USD 19.60 Billion by 2027, according to a new report by Reports and Data. Low back pain is becoming increasingly common throughout the globe. It is affecting people of all ages from children to elderly, low back pain can be acute or chronic. The growing demand for spine surgeries and the latest generation spine implants, the advent of bioabsorbable spine implants, and the availability of a wide range of recently approved spine implants are some of the growing trends, which can supposedly contribute to the market’s growth. With the 3D printed, and custom fit spine implants taking the market, growth opportunities for vendors is likely to skyrocket as this increases demand for innovations among consumers. The biodegradable spine implants which are currently available commercially can disrupt the global spine therapy market effectively.

The invasive surgeries segment, on the other hand, is projected to witness faster growth and is likely to increase its share at a CAGR of 6% during the forecast period. Further, high penetration of invasive surgical techniques in emerging countries such as India, Brazil, China, Mexico, and South Africa is boosting the MI spine surgeries segment.

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  Further key findings from the report suggest:

  • The spinal plates are likely to emerge as one of the most-preferred spine devices treated for spinal injuries. Over the forecasted period, spinal plates are projected to gain nearly one-fourth of the revenue share. Meanwhile, spinal screws will also witness healthy growth, and is likely to around USD 1,500 million revenue by 2022 end.
  • By 2030, for many countries in Latin America, the number of people aged 60 or older will be 2.5-3.5 times larger than in 2000. The increase of this elderly population is expected to stimulate growth across all spinal therapy procedures, thereby stimulating the growth. The current surge of the U.S. dollar against local currencies throughout many regions has caused a restraint for local importers to profit from expensive MIS devices, which are mainly imported from the manufacturers of Europe and America. The decrement is likely to challenge the MIS transition phase, thereby stunting the market growth.
  • 3D printed spinal implants is another technology that has undergone rapid market development. This market has seen substantial growth as surgeons migrated from PEEK (polyetheretherketone) implant materials back to Titanium. This technology has proliferated as access to 3D printing machines has become more readily available due to continued advancements of the technology and cheaper costs, which has a potential to drive the growth of the spinal therapy market throughout the forecasted period.
  • Compared to orthopedic clinics as the end user of spine devices, hospitals are likely to emerge as the biggest users of spine devices. Towards the end of 2022, hospitals as the end user are projected to surpass USD 5,700 million revenue, according to our analysts. Hospitals are also expected to account for more than two-third revenue share on global revenues by the end of 2020.
  • The spinal therapy market has experienced single digit growth over the past 10 years and is expected to maintain this growth for the foreseeable future. With more than 200 spine product manufactures, the market is predominantly dominated by Medtronic, Depuy Synthes, Stryker, Nuvasive and Globus Medica, whose profiles have been well documented in the report.
  • The large tier companies have introduced some new technologies via internal research and development, but the bulk of these new technologies have been acquired from smaller companies. The best example of this trend is seen in the spinal robotic space.

  Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Spine Therapy market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.

Leading companies operating in the market are:

Medtronic plc., DePuy Synthes, Inc., Stryker Corporation, NuVasive, Inc., Zimmer Biomet Holdings, Inc, Globus Medical, Inc., Alphatec Spine, Inc., Orthofix International N.V. and LDR Holding Corporation

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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

  Spine Therapy Market Segmentation:

Product Outlook (Revenue, USD Billion; 2017-2027)

  • Fusion Devices
  • Non-fusion Devices
  • Stimulation Devices

Application Outlook (Revenue, USD Billion; 2017-2027)

  • Open Surgery
  • Minimally Invasive Surgery

Procedure Outlook (Revenue, USD Billion; 2017-2027)

  • Discectomy
  • Laminotomy
  • Foraminotomy
  • Corpectomy
  • Facetectomy

Technology Outlook (Revenue, USD Billion; 2017-2027)

  • Spinal Fusion and Fixation Technologies
  • Vertebral Compression Fracture Treatment
  • Motion Preservation Technologies

Geographic Segment Covered in the Report:

The Spine Therapy report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

• North America (the USA and Canada)
• Europe (UK, Germany, France, and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• the Middle East and Africa (GCC and the rest of the Middle East and Africa)

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  Key market aspects are illuminated in the report:

  • Executive Summary: It covers a summary of the most vital studies, the Global Spine Therapy market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.
  • Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Spine Therapy market, the years measured, and the study points.
  • Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features.
  • Manufacture by Region: This Global Spine Therapy report offers data on imports and exports, sales, production and key companies in all studied regional markets.

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