Major players in the spine implants market are Medtronic, Depuy Synthes, Johnson & Johnson, Stryker Corporation, NuVasive, Inc. , Zimmer Biomet Holdings, Globus Medical, Alphatec Holdings, Orthofix International, and RTI Surgical.
New York, May 26, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Spine Implants Global Market Report 2022" - https://www.reportlinker.com/p06280863/?utm_source=GNW
The global spine implants market is expected to grow from $10.50 billion in 2021 to $11.32 billion in 2022 at a compound annual growth rate (CAGR) of 7.9%. The market is expected to grow to $15.77 billion in 2026 at a compound annual growth rate (CAGR) of 8.6%.
The market for spine implants consists of sales of inserts used in spinal surgery.Spine implants are the devices used to correct the deformity in the spine, stabilize and strengthen the spine and facilitate fusion of bones in different disorders such as degenerative disc disease, kyphosis, scoliosis, spondylolisthesis, spinal stenosis, and fracture.
The market consists of revenue generated by the companies manufacturing spine implants by the sales of these products.
The main products in the spine implants are spinal fusion devices, non-fusion devices/motion preservation devices, vertebral compression fracture (VCF) treatment devices, spinal bone stimulators, spine biologics.The spinal fusion devices provide a solution for spinal instability and are designed specifically to treat spinal disorders and use surgical procedures to implant titanium-alloy, titanium, stainless steel, and non-metallic devices into the spine.
The various procedures involved are open surgery, minimally invasive surgery (MIS).The various materials in spine implants include metallic, polymeric, and ceramic.
The spinal implants are used in hospitals, specialty orthopedic and spine centers, and ambulatory surgical centers.
The rising incidences of spinal disorders coupled with the usage of minimally invasive surgical procedures are contributing to the growth of the global spinal implants market. According to Branko PRPA, surgical in September 2021, annually there are 1.34 to 4.6 spinal cases per million and 1,400 new cases diagnosed each year, with 33,000 having some type of disability in the US and among them, 30% of the adult female population suffers from lower back pain, compared to 25 percent of the adult male adult population and this is approximately 31% of men acknowledged that their condition affects their employment compared to 20% of women. In 2019, 30% of the US population suffered from lower back problems in the last three months. And due to the emergence of minimally invasive spine surgical (MISS) approaches, it has now become feasible and efficient for treating a wide range of spinal disorders without long incisions and by avoiding significant damage to muscles surrounding the spine, thereby resulting in fewer post-operative pains and faster recovery. Therefore, the increased prevalence of spinal disorders along with the ease in treatment by MISS approaches is driving the global spinal implants market.
The increased treatment procedural cost is acting as a hindrance to the global spinal implants market growth.According to a study published in 2019 in National Center for Biotechnology Information, 1862 patients underwent different spinal surgeries and the direct cost (preoperative consultation, imaging studies, hospital costs, medical fees, implants, physical medicine treatments, ambulance transfers, and post-surgery follow up costs) of all spinal interventions for 1,862 patients in 1 year was $12,389,960.
The cost of spinal surgeries has increased by 175% globally and in the US, the annual cost of spine care is estimated at $105 billion per patient annually. Increased treatment procedural costs will increase monetary concerns, limiting the market growth.
The innovation of implants in providing minimally invasive and motion-preserving stabilization is a major trend in the spine implants market.For example, RTI Surgical Holdings, a global surgical implant company, has launched the first and only posterior lumbar motion preservation solution, Coflex.
Coflex is a differentiated, minimally-invasive, motion-preserving stabilization implant that is FDA PMA-approved for the treatment of moderate to severe lumbar spinal stenosis (LSS).It can be directly implanted following a surgical decompression, without fusing the bones.
The device comes in different sizes to fit the patient’s anatomy, and this can be performed even in an outpatient setting.
In June 2019, Medtronic completed the acquisition of Titan Spine for an undisclosed amount.Ireland-based Medtronic is a world leader in medical technology, services, and solutions whereas Titan Spine is a Mequon-based medical device developer pioneered in titanium interbody fusion devices featuring a surfacing technology.
Interbody implants are spacers that can be inserted between the vertebrae during spinal fusion surgery to help relieve pressure on nerves and hold the vertebrae in place while the fusion occurs.Medtronic maintains its position as a leading innovator in procedural solutions for spine surgery by the acquisition of Titan Spine.
Now, Medtronic’s spine division, a part of Restorative Therapies Group, expands its existing spine technologies by adding Titan Spine’s products to its portfolio.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the spine implant market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06280863/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001