Intervertebral Implants Market to Reach US$ 2.5 Bn by 2031, TMR Study

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Dec 06, 2022, 08:30 ET

Rise in prevalence of spinal disorders bolsters demand for intervertebral implants
Increase in adoption of polyetheretherketone (PEEK) materials by medical professionals across the world augments market demand

WILMINGTOM, Del., Dec. 6, 2022 /PRNewswire/ -- The global intervertebral implants market was valued at US$ 1.4 Bn and is estimated to grow at a CAGR of 5.8% from 2022 to 2031. Increase in the global geriatric population that is more susceptible to various chronic health conditions and spinal issues, is propelling demand for intervertebral implants. Rise in preference and demand for minimally invasive surgical procedures in hospitals, orthopedic centers, and clinics, is anticipated to propel market growth in the next decade. Furthermore, rise in usage of PEEK materials and titanium alloys in the manufacture of enhanced and higher quality spinal and intervertebral implants market expansion.

Intervertebral Implants Market – Key Findings of the Report

Increase in Demand for Lumbar and Cervical Implants: Rise in cases of degenerative disc disorders, and increase in incidence of chronic back pain are propelling the global market. The lumbar and cervical implants segments combined accounted for major market share in 2021. Rise in prevalence of lumbar disc diseases, such as herniated disc, is anticipated to propel the segment in the near future. On the other hand, surge in incidence of cervical health issues, and increase in number of surgeons that are trained to perform complex cervical-related surgical procedures is expected to bolster industry growth.

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Intervertebral Implants Market - Growth Drivers

Rise in prevalence of spine-related disorders that require treatment through spinal implant surgical procedures propels market growth
Increase in the incidence of new and technologically advanced intervertebral implant solutions augments market expansion
Surge in investment by industry players in 3D printing techniques for printing technologically enhanced implant solutions fuels market development

Intervertebral Implants Market - Key Players

Key stakeholders and manufacturers evaluated in the market report are B. Braun Melsungen AG, DePuy Synthes, LASAK S. R. O., Spineology Inc., Xtant Medical, Alphatec Spine, Inc., Companion Spine LLC, Johnson & Johnson, NuVasive, Inc., Stryker Corporation, and Globus Medical, Inc. Small number of well-established and large-sized players dominate the global industry. These players adopt corporate growth and expansion strategies, including increase in investment in research & development to develop new enhanced implant solutions and strategic partnerships & collaborations, in order to increase market share. Apart from this, merger & acquisition and expansion of product portfolio are the other notable strategies employed by these industry leaders.

Intervertebral Implants Market - Regional Growth Assessment

North America led the global market, with 38% share in 2021. The market in the region is estimated to grow at a CAGR of 5.6% during the forecast period. This is ascribed to rapid expansion of the regional micro-electronic medical implant devices industry, and rise in prevalence of spinal disorders. Furthermore, rise in prevalence of obesity and resultant increase in incidence rate of lifestyle-related diseases are the other drivers of the market in North America.

The market in Asia Pacific is anticipated to record higher growth rate over the next decade, expanding at a CAGR of 6.5% from 2022 to 2031. Key factors propelling the market are presence of a massive pool of patients in countries such as China and India, increase in awareness about the availability of effective treatment for various spinal diseases, and advancements in healthcare facilities. Furthermore, presence of a large geriatric population in several countries is expected to propel market development in Asia Pacific in the next decade.

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Intervertebral Implants Market: Segmentation

Intervertebral Implants Market, by Type

Cervical
Lumbar
Others

Intervertebral Implants Market, by Material

Titanium
Polyetheretherketone (PEEK)
Others

Intervertebral Implants Market, by End-user

Hospitals
Ambulatory Surgical Centers
Clinics and Orthopedic Centers

Intervertebral Implants Market, by Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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