The Global Spine Implants Market to Reach Revenues of Around $12 Billion by 2024- Market Research Report by Arizton

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Sep 17, 2019, 11:00 ET

CHICAGO, Sept. 17, 2019 /PRNewswire/ -- According to Arizton's recent research report Spine Implants Market – Global Outlook and Forecast 2019-2024, the global spine implants market is expected to reach over $12 billion by 2024, growing at a CAGR of more than 3% during the forecast period.

Key Highlights Offered in the Report:

3D printed spine implants are gaining widespread attention and popularity as they offer multiple benefits, ranging from designing custom-fit implants, usage of additive manufacturing technology, allowing personalization of porosity and pore size to increased peri-implant osteogenesis and ingrowth. Therefore, the growing demand for such innovative spine implants is expected to drive the market worldwide.
Motion preservation segment is witnessing the fastest growth compared to other product types and is likely to grow at an absolute growth of around 92% during the forecast period
APAC is likely to grow at the fastest rate, recording the absolute growth (49%) during the forecast period.
India and China are likely to witness higher absolute growth rates of 54% and 51%, respectively, in the global spine implants market.
Within MedTech industry, spine implants market continues to dominate with multiple M&A activities. The global spine implants market has been witnessing significant acquisitions over the last decade. In 2018, the market witnessed the two largest acquisitions with an estimated value of around $3.1 billion.

Key Offerings:

Market Size & Forecast by Revenue| 2018−2024
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis of the market by products, surgery, end-users, and geography.
Competitive Landscape – Profile of 6 key vendors and 38 other vendors.

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Spine Implants Devices Market – Segmentation

The research report includes detailed market segmentation by products, end-users, surgery, and geography.
The spinal non-fusion implants segment is expected to grow at the highest CAGR of over 11% during the forecast period. The shift to non-fusion procedures from other minimally invasive and spine fusion procedures for treating a wide range of spine pathologies is expected to drive the market. Approximately, 15−20% of spine surgeries involve non-fusion techniques globally.
In 2018, the hospitals accounted for a share of over 50% in the global spine implants market. The growth in the elderly population, changes in lifestyle patterns, and the prevalence of spinal disorders are the major factors contributing to the increasing volume of spine surgeries in hospitals.

Market Segmentation by Products

Spinal Fusion Implants
Spine Biologics
VCF Treatment Devices
Spinal Non-Fusion Implants
Spine Bone Growth Electrical Stimulation Devices

Market Segmentation by End-users

Hospitals
Specialty Orthopedic and Spine Centers
Ambulatory Surgical Centers (ASCs)

Market Segmentation by Surgery

Open Spine Surgeries
MI Spine Surgeries

Market Segmentation by Geography

North America
Europe
MEA
APAC
Latin America

Spine Implants Devices Market– Dynamics

The use of bioresorbable spine implants presents a novel approach for the treatment of several spine disorders/ailments. Bioabsorbable materials play a significant role in specific spinal reconstructive procedures with improved image assessment and fusion healing properties. Their time-engineered resorption properties enable controlled dynamization in interbody and plate applications.

Key Drivers and Trends Fueling Market Growth:

Growing Demand for MI Spine Surgeries
Availability of several Innovative Spine Implants
Emergence of 3-D Printed and Custom Fit Spine Implants
High Demand for Next Generation Spine Implants

Spine Implants Market–Geography

North America accounted for the highest share in the global spine implants market in 2018. Although North America is expected to retain its dominance during the forecast period, the market is likely to grow at a slower CAGR. APAC is the second major market for spine implants. Japan, China, India, South Korea, and Australia are the major revenue contributors in APAC. These countries are witnessing higher growth than countries such as the US, Germany, France, the UK, and Spain. APAC is likely to offer lucrative opportunities for spine implant vendors due to the presence of a large patient population.

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Market Segmentation by Geography

North America

US
Canada

Europe

France
Germany
UK
Spain
Italy

APAC

China
Japan
Australia
India
South Korea

Latin America

Brazil
Mexico

MEA

Turkey
Saudi Arabia
South Africa
Iran

Major Vendors

Medtronic
Johnson & Johnson
Stryker
NuVasive
Globus Medical
Zimmer Biomet

Other vendors include ARCA-MEDICA, Artrofiks, Alphatec Spine, A-SPINE, Biorthex, Captiva Spine, CarboFix Orthopedics, Camber Spine, Corentec, CTL Amedica, Centinel Spine, CoreLink, FH ORTHO, iSpine, LfC, Life Spine, Maxxspine Deutschland, Medacta International, Medicrea, Meditech Spine, medyssey, MicroPort Scientific, Neuro France Implants, Orthofix, OsteoMed, Paradigm Spine, Precision Spine, Premia Spine, RD Medical, RTI Surgical, S14 IMPLANTS, Safe Orthopedics, SeaSpine, SI-BONE, SIGNUSMedizintechnik, Spinal Elements, Spinal Kinetics, Spine Wave, Spineart, SpineCraft, Spineology, Spineway, TAEYEON Medical, TranS1, Tria Spine, TST, ulrich medical, Wenzel Spine, Zavation, Z-Medical and, ZygoFix.

Explore our healthcare and life sciences profiles to know more about the industry.

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About Arizton:

Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

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SOURCE Arizton Advisory & Intelligence