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The Interventional Spine Devices Market size is estimated to grow by USD 3.07 billion at a CAGR of 9.58% between 2023 and 2028. The market witnesses growth attributed to the escalating prevalence of spine and bone disorders, heightened demand for minimally invasive (MI) and non-invasive procedures, and a favorable reimbursement landscape. These factors collectively drive the market's expansion, reflecting evolving healthcare needs and treatment preferences.
The rising burden of musculoskeletal conditions, particularly spine and bone disorders, is leading to significant demand for innovative solutions in healthcare systems. This trend is driven by several factors, including the increasing prevalence of these conditions and the growing preference for minimally invasive (MI) and non-invasive procedures. Spinal implants and surgical devices are key technologies that are gaining prominence in this context. These advanced medical devices enable less invasive surgical procedures, reducing recovery time and improving patient outcomes. Furthermore, the favorable reimbursement scenario, with insurance policies and healthcare systems providing support for relevant treatments, is facilitating patient access to these technologies. As a result, the market for spinal implants and surgical devices is poised for significant growth, presenting opportunities for medical device manufacturers and healthcare service providers specializing in spine and bone disorder management.
There is an increasing preference for minimally invasive and non-invasive surgeries. by surgeons and patients across the world. In addition, advances in spinal interventions have led to an increase in the number of clinical trials and the launch of new products in the market. Moreover, the demand for rapid recovery has reduced hospital stays and better patient outcomes have resulted in many medical facilities conducting spinal fusion surgeries to repair the vertebrae and treat painful conditions of the spine. Hence, such factors are positively impacting the market.
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
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This report extensively covers market segmentation by method (vertebroplasty, kyphoplasty, radiofrequency ablation, and others), end-user ( hospital and ambulatory surgery centers), and geography (North America, Europe, Asia, and ROW).
The vertebroplasty segment is estimated to witness significant growth during the forecast period. Vertebroplasty can be referred to as a minimally invasive surgical procedure in which a small puncture is made in the patient's skin on the posterior side of the back. In addition, it can be employed to treat VCF patients who have severe pain and cannot manage daily routine activities. It is essential for a patient to opt for vertebroplasty as early as possible in cases of severe pain or failure of conventional surgical treatment.
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The vertebroplasty segment was the largest segment and was valued at USD 1.78 billion in 2018. Moreover, one of the major reasons for the vertebral compression fractures is osteoporosis. In addition, vertebral compression fractures affect approximately 750,000 people each year and can occur even when performing simple activities like bending or twisting. Furthermore, the vertebroplasty surgical procedure is mainly used to stabilize the spinal fracture and to stop or relieve the pain caused by the VCF. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
Factors such as the growing need for minimally invasive surgical procedures due to the rising incidence of spine-related illnesses like herniated discs and degenerative disc diseases are significantly contributing to the growth of this segment. In addition, hospitals are essential for diagnosis, treatment, and post-operative care. Moreover, hospitals guarantee efficient patient management because they have a trained staff and cutting-edge infrastructure. Since they offer accurate and minimally invasive interventions, interventional spine devices are in high demand due to the growing use of cutting-edge technologies in hospital settings, such as robotic-assisted surgery. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
The increasing preference for ambulatory surgical centers (ASCs) as major end-users in the healthcare industry is significantly driving the demand for interventional spine devices on a global scale. ASCs provide efficient, patient-centered, and cost-effective care, making them an attractive choice for spine treatments. This trend is further bolstered by the availability of less invasive procedures, which have been made possible by advancements in interventional spine technology. Notably, percutaneous screws and minimally invasive fusion procedures have gained popularity in ASCs. Additionally, factors such as the emphasis on outpatient care and healthcare cost containment are anticipated to fuel the growth of this segment, thereby propelling the market expansion during the forecast period. Furthermore, the use of spinal trauma devices in ASCs is on the rise, as these centers offer a more convenient and cost-effective alternative for patients requiring urgent spine care. These devices, including spinal implants, fixation systems, and biomaterials, enable quicker recovery times and improved patient outcomes.
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North America is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. One of the main factors that are significantly contributing to the growth of the market in North America is the increasing prevalence of spinal disorders, such as osteoporosis, spinal disorders, spondylolisthesis, and scoliosis injuries. In addition, the number of spine surgeries in the US is increasing due to the rising prevalence of spinal disorders and the growing adoption of minimally invasive spinal surgeries. Moreover, minimally invasive spinal surgery is gaining popularity because of its minimized surgical tissue trauma compared with an open surgical procedure. Hence, such factors are driving the market growth in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 12 market companies, including:
Abbott Laboratories: The company offers interventional spine devices such as Proclaim SCS Family nd Eterna SCS System designed for the treatment of chronic pain, pain caused by Diabetic Peripherial Neuropathy, and Non-surgical Back Pain.
B.Braun SE, ChoiceSpine LLC, Globus Medical Inc., Integra Lifesciences Corp., Johnson and Johnson, Medtronic Plc, Merit Medical Systems Inc., Orthofix Medical Inc., Spinal Elements Inc., Stryker Corp., and Zimmer Biomet Holdings Inc.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is propelled by rising cases of spinal diseases linked to factors like sedentary lifestyles, obesity, and aging population. As demand grows for minimally invasive procedures due to concerns over trauma injuries and genetic predispositions, the market witnesses a surge in innovative spinal implant devices catering to conditions such as lumbar stenosis and spinal cord injury. With advancements in therapeutics and drug research, solutions are developed for ailments ranging from HIV to Alzheimer's disease. From addressing road accidents to sports-related injuries, interventional spine devices play a pivotal role in neurology and rehabilitation, ensuring improved outcomes for patients with back injuries. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
One of the key factors driving the market growth is the increasing incidence of spine and bone disorders. The increasing incidence of spinal deformities and scoliosis among the pediatric population is also likely to fuel the growth of the market. In addition, scoliosis refers to an abnormal curvature of the spine. In children, scoliosis can result in visible deformity, pain, psychological morbidity, and, if severe, cardiorespiratory problems.
Moreover, the surgical treatment of spinal deformities and scoliosis includes fusing a segment of the spine with spinal implants such as screws and rods to arrest or reverse the deformity. In addition, the emergence of new treatment techniques, such as vertebral body tethering, will fuel the adoption of interventional spine procedures for the treatment of scoliosis. Therefore, the increasing prevalence of scoliosis, coupled with the development of new treatment procedures, will drive the growth of the market during the forecast period.
A key factor shaping the market growth is the emergence of radiofrequency-targeted vertebral augmentation. There is a significant trend towards the adoption of radiofrequency targeted vertebral augmentation, a novel percutaneous vertebral augmentation technique used to address some of the limitations of balloon kyphoplasty besides maintaining the benefits of the procedure. In addition, as per research, radiofrequency-targeted vertebral augmentation significantly reduces back pain severity, reduces pain medication requirements, and improves back function.
Moreover, remotely controlled cement delivery helps to reduce radiation exposure during vertebral augmentation procedures. For example, Merit Medical's StabiliT System combines a targeted approach and ultra-high viscosity cement for the treatment of pathological fractures and to reduce extravasation in the vertebrae. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.
The availability of alternate medication options is one of the key challenges hindering market growth. Opioid analgesic drugs are one of the key alternative treatment options available for interventional spine procedures. However, despite the devices being highly effective and safer than drugs, they are still less preferred.
Moreover, the reason for the low preference for devices is attributed to the low cost of drugs and their non-invasive nature. In addition, the introduction of innovative drug delivery techniques and improved drugs in the pipeline offers strong competition to these devices. Furthermore, there is an increased demand for interventional pain therapies, such as non-narcotic treatments for chronic pain. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Interventional Spine Devices Market Customer Landscape
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments
The market addresses a wide spectrum of spinal conditions influenced by factors like insufficient physical activity and genetic predispositions, including ailments such as diabetes, stroke, and breast cancer. Utilizing image-guided techniques like fluoroscopy and ultrasound, healthcare professionals employ an array of devices from bone grafting materials to cervical plates to address conditions like spinal stenosis and degenerative spondylolisthesis. From spinal fusion procedures with thoracic and lumbar fusion devices to motion-preserving solutions like artificial disc replacement, the market caters to diverse patient needs, ensuring spinal stability and vertebral compression fracture treatment. As demand rises for minimally invasive surgery and postoperative care, specialty clinics and medical schools play a pivotal role in enhancing quality of care for geriatric populations and individuals affected by sports-related injuries and motor vehicle accidents.
Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.58% |
Market Growth 2024-2028 |
USD 3.07 billion |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
7.81 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 47% |
Key countries |
US, Canada, UK, Germany, and China |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, B.Braun SE, ChoiceSpine LLC, Globus Medical Inc., Integra Lifesciences Corp., Johnson and Johnson, Medtronic Plc, Merit Medical Systems Inc., Orthofix Medical Inc., Spinal Elements Inc., Stryker Corp., and Zimmer Biomet Holdings Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Method
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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