Spinal Implants and Surgery Devices Market size worth $ 14.1 Billion, Globally, by 2028 at 4.2% CAGR: Verified Market Research®

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Mar 30, 2022, 10:15 ET

The elements such as rising advancements in spine surgery technologies, increasing incidences of spine disorders, an increasing number of launches of advanced bone grafting products, are boosting the Spinal Implants and Surgery Devices Market growth

JERSEY CITY, N.J., March 30, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Spinal Implants and Surgery Devices Market" By Type (Open Surgeries, Minimally Invasive Surgeries), By Technology (Spinal Fusion And Fixation, Spinal Decompression), By Product (Cervical Fusion Devices, Spine Biologics), and By Geography. According to Verified Market Research, the Global Spinal Implants and Surgery Devices Market size was valued at USD 10.1 Billion in 2020 and is projected to reach USD 14.1 Billion by 2028, growing at a CAGR of 4.2% from 2021 to 2028.

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Global Spinal Implants and Surgery Devices Market Overview

The growing demand for minimally invasive surgical procedures is expected to fuel the growth of the global Spine Implants and Surgery Devices Market in the forecasted period. Besides, due to the lack of awareness and trained professionals, more cost of treatment procedures, and uncertainty in reimbursement might hamper the overall growth of the market.

Therefore, the emerging markets and the rising number of hospitals and surgical centers are good opportunities for market growth. Challenges such as lack of appropriate physicians and limited awareness or education are essential to be considered. Spine surgery technologies are evolving continuously. The launch of the latest advanced or modern bone grafting products is further expected to drive the demand of the market. With enlarging awareness among the people, the trend of adoption of minimally invasive spine surgeries is increasing which will positively affect the market.

Distant from escalating elderly population, the spinal implant is also catering to the recent modern technological advancements, which not only have upgraded the quality but also made the surgeries more affordable for larger masses. In addition, the increasing health awareness among the masses, along with rising in the disposal capacity of the population is moving the market growth. Improving patient knowledge for such surgeries is also expected to stimulate market growth.

Key Developments

In January 2022, Stryker announced a definitive merger agreement to acquire all of the issued and outstanding shares of common stock of Vocera Communications, Inc. for USD 79.25 per share, or a total equity value of approximately $2.97 billion and a total enterprise value of approximately $3.09 billion.
In Dec 2021, DePuy Synthes, a division of Johnson & Johnson has announced the acquisition of OrthoSpin through its Synthes GmbH affiliate. OrthoSpin, based in Israel, creates a robot-assisted external fixation system for orthopedic treatments
In 2020, Medtronic (Ireland) acquired Stimgenics, a US-based, privately held company that has pioneered a novel spinal cord stimulation (SCS).

Key Players

The major players in the market are Medtronic plc, NuVasive, Inc., Orthofix International N.V., Stryker Corporation, Zimmer Biomet Holdings, Inc., Alphatec Spine, Inc., B. Braun Melsungen AG, DePuy Synthes, Exactech, Inc., and Globus Medical, Inc.

Verified Market Research has segmented the Global Spinal Implants and Surgery Devices Market On the basis of Type, Technology, Product, and Geography.

Spinal Implants and Surgery Devices Market, By Type

Open Surgeries
Minimally Invasive Surgeries

Spinal Implants and Surgery Devices Market, By Technology

Spinal Fusion & Fixation
Vertebral Compression Fracture Treatment
Spinal Decompression
Motion Preservation/Non B Fusion

Spinal Implants and Surgery Devices Market, By Product

Thoracic Fusion & Lumbar Fusion Devices
Cervical Fusion Devices
Spine Biologics
Vertebral Compression Fracture Treatment Devices
Spinal Decompression Devices
Non-Fusion Devices
Spine Bone Stimulators

Spinal Implants and Surgery Devices Market by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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