New York, NY -- (SBWIRE) -- 05/04/2021 -- The Global Spine Therapy Market is forecast to reach USD 19.60 Billion by 2027, according to a new report by Reports and Data. Low back pain is becoming increasingly common throughout the globe. It is affecting people of all ages from children to elderly, low back pain can be acute or chronic. The growing demand for spine surgeries and the latest generation spine implants, the advent of bioabsorbable spine implants, and the availability of a wide range of recently approved spine implants are some of the growing trends, which can supposedly contribute to the market's growth. With the 3D printed, and custom fit spine implants taking the market, growth opportunities for vendors is likely to skyrocket as this increases demand for innovations among consumers. The biodegradable spine implants which are currently available commercially can disrupt the global spine therapy market effectively.

The invasive surgeries segment, on the other hand, is projected to witness faster growth and is likely to increase its share at a CAGR of 6% during the forecast period. Further, high penetration of invasive surgical techniques in emerging countries such as India, Brazil, China, Mexico, and South Africa is boosting the MI spine surgeries segment.

The COVID-19 impact:
The outbreak raised concern on the value of hygiene and healthcare. The market has experienced a downturn over the weeks, which may continue over the next few months. This pandemic has affected the Asia Pacific region the most, with China at the center of the outbreak. Most initiatives have come to a temporary halt in multiple countries. The production, as well as supply, has been put on hold, causing losses to the manufacturers, dealers as well as consumers. The market might be facing a downside for the period. Still, with a rising health concern, the demand would be hitting the roof as soon as there is a development in the condition.

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Further key findings from the report suggest:
The spinal plates are likely to emerge as one of the most-preferred spine devices treated for spinal injuries. Over the forecasted period, spinal plates are projected to gain nearly one-fourth of the revenue share. Meanwhile, spinal screws will also witness healthy growth, and is likely to around USD 1,500 million revenue by 2022 end.

By 2030, for many countries in Latin America, the number of people aged 60 or older will be 2.5-3.5 times larger than in 2000. The increase of this elderly population is expected to stimulate growth across all spinal therapy procedures, thereby stimulating the growth. The current surge of the U.S. dollar against local currencies throughout many regions has caused a restraint for local importers to profit from expensive MIS devices, which are mainly imported from the manufacturers of Europe and America. The decrement is likely to challenge the MIS transition phase, thereby stunting the market growth.

3D printed spinal implants is another technology that has undergone rapid market development. This market has seen substantial growth as surgeons migrated from PEEK (polyetheretherketone) implant materials back to Titanium. This technology has proliferated as access to 3D printing machines has become more readily available due to continued advancements of the technology and cheaper costs, which has a potential to drive the growth of the spinal therapy market throughout the forecasted period.

Compared to orthopedic clinics as the end user of spine devices, hospitals are likely to emerge as the biggest users of spine devices. Towards the end of 2022, hospitals as the end user are projected to surpass USD 5,700 million revenue, according to our analysts. Hospitals are also expected to account for more than two-third revenue share on global revenues by the end of 2020.

The spinal therapy market has experienced single digit growth over the past 10 years and is expected to maintain this growth for the foreseeable future. With more than 200 spine product manufactures, the market is predominantly dominated by Medtronic, Depuy Synthes, Stryker, Nuvasive and Globus Medica, whose profiles have been well documented in the report.

The large tier companies have introduced some new technologies via internal research and development, but the bulk of these new technologies have been acquired from smaller companies. The best example of this trend is seen in the spinal robotic space.

For the purpose of this report, Reports and Data have segmented into the spine therapy market on the basis of product, application, procedure, technology, end user and region:

Product Outlook (Revenue, USD Billion; 2017-2027)
Fusion Devices
Non-fusion Devices
Stimulation Devices

Application Outlook (Revenue, USD Billion; 2017-2027)
Open Surgery
Minimally Invasive Surgery

Procedure Outlook (Revenue, USD Billion; 2017-2027)
Discectomy
Laminotomy
Foraminotomy
Corpectomy
Facetectomy

Technology Outlook (Revenue, USD Billion; 2017-2027)
Spinal Fusion and Fixation Technologies
Vertebral Compression Fracture Treatment
Motion Preservation Technologies

End User Outlook (Revenue, USD Billion; 2017-2027)
Hospitals and Ambulatory Surgery Centers
Specialty Clinics
Others

Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
S
Canada
Europe
Germany
UK
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
MEA
Saudi Arabia
UAE
Rest of MEA

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Key Highlights of the Global Spine Therapy Market Report:
Location Quotients Analysis
Raw Material Sourcing Strategy
Product Mix Matrix
Supply chain optimization analysis
Patent Analysis
R&D Analysis
Carbon Footprint Analysis
Pre-commodity pricing volatility
Cost-Benefit Analysis
Regional demand estimation and forecast
Competitive Analysis
Vendor Management
Mergers & Acquisitions
Technological advancements

Table of Contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique

Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027

Chapter 3. Indicative Metrics

Chapter 4. Spine Therapy Market Segmentation & Impact Analysis
4.1. Spine Therapy Market Product Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Accelerating rate of spinal cord injuries and disorders
4.2.2.2. Emergence of easier and effective technologies in spine care
4.2.3. Market restraints analysis
4.2.3.1. Financial drawbacks influencing the market growth
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence

Chapter 5. Spine Therapy Market by Product Insights & Trends
5.1. Product Dynamics & Market Share, 2019 & 2027
5.2. Fusion Devices
5.2.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
5.2.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)
5.3. Non-Fusion Devices
5.3.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
5.3.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)
5.4. Stimulation Devices
5.4.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
5.4.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)

Chapter 6. Spine Therapy Market by Application Insights and Trends

Continued…..