Spinal Implants Market by Product and Geography - Forecast and Analysis 2020-2024
- Published: Feb 2020
- Pages: 158
- SKU: IRTNTR40922
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The spinal implants market size has the potential to grow by USD 2.75 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast.
This spinal implants market research report provides a detailed analysis of the market by product (spinal fusion implants and non-fusion spinal implants) and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including B. Braun Melsungen AG, Globus Medical Inc., Johnson & Johnson, Medtronic Plc, MicroPort Scientific Corp., NuVasive Inc., Orthofix Medical Inc., RTI Surgical Inc., Stryker Corp., and Zimmer Biomet Holdings Inc.
Statistical Analysis of Spinal Implants Market
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Market Competitive Analysis
The spinal implants market is concentrated, and the degree of concentration will increase during the forecast period. Vendors are opting for inorganic growth strategies such as strategic alliances for product development and commercialization to increase the spinal implants market demand. NuVasive Inc., Orthofix Medical Inc., RTI Surgical Inc., Stryker Corp., and Zimmer Biomet Holdings Inc. are some of the major market participants. According to the spinal implants market report, the rising prevalence of spinal disorders will offer immense growth opportunities, frequent product recalls will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this spinal implants market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this report also provides information on the upcoming spinal implants market trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This spinal implants market analysis report provides information on the production, sustainability, and prospects of several leading companies, including:
- B. Braun Melsungen AG
- Globus Medical Inc.
- Johnson & Johnson
- Medtronic Plc
- MicroPort Scientific Corp.
- NuVasive Inc.
- Orthofix Medical Inc.
- RTI Surgical Inc.
- Stryker Corp.
- Zimmer Biomet Holdings Inc.
Spinal Implants Market: Segmentation by Region
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North America accounted for the largest spinal implants market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rising prevalence of spine disorders, new product launches, technological advances, the presence of favorable reimbursement policies for spine surgeries, and the growing demand for spinal fusion surgeries are some of the factors that will significantly influence spinal implants market growth in this region.
Over 42% of the market’s growth will originate from North America during the forecast period. The US is the key market for spinal implants in North America. Market growth in this region will be slower than the growth of the market in Asia and Europe.
Spinal Implants Market: Segmentation by Product
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The demand for spinal fusion implants is increasing owing to factors such as the rising prevalence of spinal disorders, technological advances in 3D-printed spinal implants, and the presence of established players with a strong product portfolio. The growing regulatory approvals of new products will also drive the growth of the spinal implants market over the forecast period.
Spinal implants market growth by the spinal fusion implants segment will be slower than the growth of the market by the non-fusion spinal implants. This report provides an accurate prediction of the contribution of all the spinal implants market segmentation.
Spinal Implants Market Dynamics
The rising prevalence of spinal disorders including spondylitis, spinal stenosis, spinal tumor, osteoporosis, degenerative diseases, and scoliosis, is increasing the need for surgical treatment, which involves the use of spinal implants. The growing incidence of spinal deformities and scoliosis among the pediatric population is also likely to drive the growth of global spinal implants market size. The rising incidence of spinal injuries, including fractures or dislocations, will also increase the sales of spinal implants over the forecast period. Leveraging these factors, vendors are focusing on launching new products to increase sales.
- 3D printing technology is gaining popularity in orthopedic and spine surgery applications, which is one of the key spinal implants market trends.
- Surgeons are using 3D printed implants for the treatment of spinal disorders and related conditions.
- Customized patient-specific 3D-printed implants are being used to treat spinal deformity.
- Johnson & Johnson launched a product portfolio, which includes 3D printed titanium interbody implants that can mimic the natural bone and facilitate spinal fusion.
- The global spinal implants market size is expected to grow at a CAGR of over 5% during 2020-2024.
Key Highlights of the Spinal Implants Market Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive spinal implants market growth during the next five years
- Precise estimation of the spinal implants market size and its contribution to the parent market
- Spinal implants market facts & figures and accurate predictions on upcoming trends and changes in consumer behavior
- Estimation of potential opportunity for spinal implants market by product and geography
- Identification of key countries across Asia, Europe, North America, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of spinal implants market vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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