According to the latest report published by Acute Market Reports “Spinal Implants and Surgical Devices Market - Growth, Future Prospects and Competitive Analysis, 2021-2029,” the global spinal implants and surgical devices market was valued at US$ 12.85 Bn in 2020, and is projected to reach US$ 21 Bn by 2029, expanding at a CAGR of 6.1% from 2021 to 2029.
Browse the full report Spinal Implants and Surgical Devices Market - Growth, Future Prospects and Competitive Analysis, 2021–2029 at https://www.acutemarketreports.com/report/spinal-implants-and-surgical-devices-market
Market Insights
Spinal implants are utilized as a part of spondylolisthesis, degenerative disc infection, traumatic fracture, and few types of spinal uncertainty including scoliosis with a spinal implant surgery. Predesigned shape and function of implant systems are utilized according to the need in the surgical procedures. These implants helps in balancing out and reinforcing the spine. They also encourage fusion and correction of deformities. Metals utilized as a part of spinal implants include titanium or titanium-alloy and stainless steel. Carbon/PEEK material and non-metallic compounds can also be used to make implants. They are available in various structures and sizes to cater the vast range of patient age groups.
Spinal cord injuries (SCI) mainly occur from different causes; for example, trauma and infection, followed by falls, sports activities, and a blocked chain supply. In 2020, according to the National Safety Council (NSC) data, the number of individuals injured in traffic accident was 4.5 Mn in the United States. In addition, in 2021, the prevalence of spinal cord injuries were 285,000 individuals, with a range between 245,000 to 353,000 individuals. Growing incidence rate of spinal injuries each year among adults is the one of the main factors enhancing the market of spinal implants and surgical devices.
Based on the product types, the global spinal implants and surgical devices market is segmented into non-fusion devices, cervical fusion devices, spinal decompression devices, spine bone stimulators, vertebral compression fracture treatment devices, and lumbar fusion and thoracic fusion devices; additionally the technologies studied in this report are categorized into motion preservation/non-fusion technologies, vertebral compression fracture treatment, spinal decompression, and spinal fusion and fixation technologies. Expansion in technology and rising incidence of spinal injuries in adults, better patience awareness and surge in disposable income in the evolving nations would additionally boost the acceptance of spinal implants.
Geographically, the worldwide spinal implants and surgical devices market is projected for Europe, Middle East and Africa, Asia Pacific, Latin America, and North America. As for revenue share, North America at this moment drives the global market and is expected that the situation will remain consistent amid the forecast period. Though the ascendancy of North America will be clearly challenged by Asia Pacific. The need of spinal implants and surgical devices has become prominent in Asia Pacific because of growth in the healthcare infrastructure, healthcare expenditure, and flexible income. There are massive chances for market diffusion in nations like India, Mexico, and China to the market occupants already having a grip in developed countries.
