The Business Research Company’s Spine Implants Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, May 24, 2021 /EINPresswire.com/ — The rising incidences of spinal disorders coupled with the usage of the minimally invasive surgical procedures are contributing to the growth of the global spinal implants devices market. According to an article published in 2018 in Global Spine Journal, the annual world’s population having spinal disorders includes 3.63% lumbar degenerative spine disease (DSD) and low back pain (LBP) collectively, 0.53% spondylolisthesis, 5.5% symptomatic disc degeneration and 1.41% spinal stenosis. 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 incision and by avoiding significant damage to muscles surrounding the spine. This results in less post-operative pains and faster recovery. Therefore, increased prevalence of spinal disorders along with the ease in treatment by MISS approaches is driving the global spinal implants market.
The market for spine implants consists of sales of inserts used in the 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.
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The global spine implants market is expected to grow from $11.48 billion in 2020 to $12.35 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The spinal implant market size is expected to reach $14.86 billion in 2025 at a CAGR of 5%.
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.
The spine implants market covered in this report is segmented by product into spinal fusion devices, non-fusion devices/motion preservation devices, vertebral compression fracture (VCF) treatment devices, spinal bone stimulators, spine biologics. The spine implants market is also segmented by procedure into open surgery, minimally invasive surgery (MIS), by material into metallic, polymeric, ceramic and by end-use into hospitals, specialty orthopedic and spine centers, ambulatory surgical centers.
Spine Implants Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides spine implants market overview, forecast spine implants market size and growth for the whole market, spine implants market segments, and geographies, spine implants market trends, spine implants market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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