The Global Spinal Implants and Devices Market was worth $9,741 million in 2015, and is estimated to reach $13,384 million by 2022, growing at a CAGR of 4.6% during the study period.

Portland, OR -- (SBWire) -- 03/01/2018 --Spinal implants and devices are used to treat spinal deformities such as spinal stenosis and isthmic spondylolisthesis. Increase in geriatric population, rise in adoption of minimal invasive surgery techniques, and upsurge in incidence rate of spinal disorders are expected to drive the market growth. Moreover, technological advancements in spinal fusion implants fuel this growth. However, unfavorable reimbursement scenario and stringent regulatory approval procedures are expected to impede the market growth.

Spinal stenosis is the most common problem in men and women over 50 years of age. With age, changes occur in the structure of the spine, such as the band of the tissue that supports the spine gets thick, bones and joints get bigger, thus leading to the most common cause of spinal impairment. According to Eurostat, on January 1, 2015, the European Union (EU)-28 population was estimated to be 508.5 million of which older persons (aged 65 years or over) had an 18.9% share, reflecting an increase of 0.4% compared to the previous year. Therefore, increase in geriatric population is expected to impact the demand for spinal implant and devices for the treatment of spinal disorders.

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Asia-Pacific possesses high market potential, owing to the rise in incidence of spinal disorders and increase in healthcare expenditure. Moreover, the rapidly aging population and low cost of the spinal procedures in countries such as India as compared to in developed countries (U.S.) have further increased the demand for spinal implants. Spinal surgery is performed at over 2,000 hospitals in India, of which complex and sophisticated surgeries, such as microscopic spine surgery, are performed in at least 500 multi-faculty spinal surgery hospitals and super-specialty hospitals. Therefore, the aforementioned factors are expected to upsurge the demand for spinal implants and devices in the region.

Fusion implants and devices are used in the treatment of spine disorders such as mechanical low back pain, which is often associated with degenerative changes in the discs or low-grade slippage of the spine. According to the U.S. Bone and Joint Initiative, musculoskeletal back pain is a major cause of disability in Americans. In fact, according to the National Center for Health Statistics, one in four adults suffers from chronic low back pain. Moreover, as stated by WHO, low back pain is a leading cause of economic burden on individuals and government. In the U.S., around 149 million days are lost every year due to low back pain. Thus, rise in prevalence of disorders such as low back pain and stenosis stimulates the market for these devices.

The key companies operating in this market are Alphatec Spine, Inc., B. Braun Melsungen AG, Depuy Synthes (Johnson & Johnson), Exactech, Inc., Globus Medical, Inc., Medtronic plc, NuVasive, Inc., Orthofix International N.V., Stryker Corporation, and Zimmer Biomet Holdings, Inc.

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The other players operating in the market include Paragon Medical, Inc., Norman Noble, Inc., Nutech, Titan Spine, Wenzel Spine, Inc., X·spine Systems, Inc., Tecomet, Inc., Marox Corporation, Axial Medical, Spine Wave, Inc., K2M, Inc., and Captiva Spine, LLC.

Key Benefits

- The study provides an in-depth analysis of the global market, with current trends and future estimations, to elucidate the imminent investment pockets.
- Quantitative analysis from 2014 to 2022 is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- The report provides actual historical figures for 2014 and Y-o-Y forecasts from 2016 to 2022, considering 2015 as base.
- Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities.
- Extensive analysis is conducted by closely following key product positioning and monitoring the top contenders within the market framework.