Detailed overview of spinal implants and surgery devices market

Several types of back pain and deformity are treated with spinal implants. Scoliosis, kyphosis, degenerative disc disease, and fractures are among the conditions that can be treated. These implants are typically available in two varieties: biocompatible fusion implants and non-fusion implants. In the case of spinal fusion devices, materials such as artificial discs and expandable rods are used, whereas, in the case of spinal non-fusion devices, materials such as titanium, titanium-alloy, stainless steel rods, plates, screws, and interbody cages are used.  

The market worth of spinal implants and surgery devices in 2021 was USD 11.42 billion and will reach USD 18.08 billion by 2030 at a 5.23% CAGR during 2021-2030.

Approximately 80% of adults will experience low back pain at some point in their lives, according to the NINDS (National Institute of Neurological Disorders and Stroke). The Global Burden of Disease Study states that it is the primary cause of disability worldwide (GBD)

One may experience back pain for a variety of reasons. The more frequent causes include sciatica, sprains and strains, and regular wear and tear on discs and bones. Other causes of low back pain may include tumors, infections, and diseases like kidney stones.

Market Dynamics

Drivers

 Factors propelling the market’s expansion are the rising prevalence of spinal disorders like degenerative disc disease, scoliosis, kyphosis, and spondylolisthesis. This can be attributed to the majority of the working population’s sedentary lifestyles and busy schedules, which also significantly increase the prevalence of obesity, back pain, posture-related issues, and other degenerative spinal conditions.

Effective growth-sparing technologies specially created for patients, particularly children, who have not yet reached skeletal maturity, is another factor driving the market’s expansion. The market is also benefiting from a number of technological developments, such as the creation of advanced bone grafting products and the use of materials that are more durable than metal. Additional factors are anticipated to fuel the market, such as the growing elderly population and the widespread use of minimally invasive (MI) spinal surgeries.

Restraints

Market expansion is expected to be constrained by the high cost of spinal surgery and the unfavorable reimbursement policy. Additionally, the risk of blood clots and tumors developing during spinal surgeries and implants is impeding the market’s expansion.

Opportunity

The market is growing due to the development of efficient growth-sparing devices specially created for patients, particularly children, who have not yet reached skeletal maturity.

The demand for minimally invasive spinal surgery procedures is expected to increase, along with other factors like the aging of the population. In the United States, the bone growth stimulation process generated more than $500 million in 2020. It is anticipated to experience exponential growth and produce a sizable profit in the future.

Market segmentation

By product type, 

On the basis of product type, the market is segmented into posterior cervical fusion devices, thoracic fusion and lumbar fusion devices, invasive spine bone stimulators, cervical fusion devices, spinal laminectomy/spinal decompression devices, VCF treatment devices, spine biologics, and non-fusion devices.

In 2020 the largest market was contributed by the thoracic fusion & lumbar fusion devices segment. It is primarily due to the increasing incidence of degenerative disc diseases worldwide.

By type of surgery

On the basis of type of surgery, the market is segmented into open surgeries and minimally invasive surgeries.

The open surgeries market segment maintained the largest position and contributed to the largest revenue share in 2020. This is because spinal abnormalities are becoming more common, open spine surgeries are becoming more popular among doctors, and spinal fusion surgeries have advanced technologically. This market segment is therefore anticipated to expand at a CAGR of 5.3% throughout the anticipated period.

By Technology

On the basis of technology, the market is segmented into motion preservation/Non-fusion, spinal fusion and fixation, spinal laminectomy/spinal decompression, vertebral compression fracture treatment, and spinal fusion & fixation.

In 2020, the spinal fusion and fixation market segment recorded the largest revenue share. The largest market share is due to the rising prevalence of conditions like degenerative disc disease and spinal stenosis, the expanding geriatric population worldwide, an increase in the number of spinal fusion surgeries, and technological advancements in spinal fusion and bone grafting methods.

By region

Regionally, the market is segmented into Europe, North America, Asia-Pacific, and LAMEA.

North America rules the entire market for spinal implants and surgery devices regionally. It is mainly due to increasing development strategies implemented by different industry verticals in the area; technologies are being developed to determine the root of the disease. Additionally, the presence of cutting-edge healthcare facilities, a developing healthcare organization, and diagnostic centers in the area will likely spur the market’s expansion. The dominant nations of North America, including the US, Canada, and Mexico, are fostering market expansion at the same time during the projection period.

However, due to advancements in healthcare infrastructure, enhanced reimbursement scenarios, and the acceptance of insurance coverage in many APAC countries, the Asia Pacific region will grow at the fastest rate during the forecasted period.

Key Players Analysis

• Orthofix Medical
• Globus Medical
• Zimmer Biomet Holdings
• B. Braun
• Abbott Laboratories
• Nuvasive Inc.
• Stryker Corporation
• Medtronic
• Boston Scientific, Depuy Synthes
• Exactech Inc.
• Integra LifeSciences Holdings Corporation
• RTI Surgical