The increased prevalence of spinal disorders, fractures, and injuries, as well as the rising need for improved medical technology and implants, are expected to drive market expansion throughout the forecast period. According to WHO figures, around 250,000 to 500,000 SCI cases are recorded globally each year. Most SCIs are caused by preventable reasons such as falls, car accidents, and violence. Every year, the WHO estimates that 40 to 80 cases of SCI occur per million persons worldwide. Patients with SCI have a higher risk of death since they are 2 to 5 times more likely to die before their time than patients without SCI. Accidents at work or in sports cause a substantial number of traumatic SCIs.
Data Bridge Market Research analyses that the Spinal Implants Market which was USD 9.93 billion in 2022, is expected to reach USD 16.74 billion by 2030, at a CAGR of 6.75% during the forecast period, 2023 to 2030
“Growing number of traffic accidents is bolstering the market growth”
Increased traffic accidents have resulted in an increase in the number of SCIs. Car accidents, as well as steamrollers, bulldozers, forklifts, and other unclassified vehicles, are some of the main factors in SCI causes, according to the National Spinal Cord Injury Statistical Centre (NSCSC). The lumbosacral spine was the most usually involved location in a research that included all individuals with spinal fractures after car accidents, according to NCBI. Whiplash (a neck/cervical spine injury), herniated discs, and vertebral fractures are among the most frequent spine injuries sustained in a car accident. According to the NCBI, adults aged 76 and older account for nearly 75% of SCI cases caused by falls. These are the specific aspects that drive market expansion.
What restraints the growth of the Global Spinal Implants Market?
“High costs associated will restrain the market growth"
Increased treatment costs, uncertainty in reimbursement, and stringent compliance and regulatory approval procedures, among other factors, will impede market growth, while a lack of adequate physicians and limited awareness/education will further impede market growth during the forecast period.
Segmentation: Global Spinal Implants Market
The spinal implants market is segmented on the basis of procedure, indication, product type, configuration and material.
- On the basis of procedure, the market is segmented into open surgery, minimally invasive surgery, others.
- On the basis of indication, the market is segmented into spinal trauma and deformity.
- On the basis of product type, the market is segmented into artificial discs, dynamic stabilization devices, spinal fusion implants, plates, cages.
- On the basis of configuration, the market is segmented into internal combustion engines (ICE) and electric vehicles.
- On the basis of material, the market is segmented into stainless steel, titanium, cobalt chrome, polyetheretherketone (PEEK).
Regional Insights: North America dominates the Global Spinal Implants Market
Given its plentiful product availability and high utilization rates, North America dominates the spinal implants market during the forecast period of 2023 to 2030.
Given the presence of significant unmet demand, ongoing expansion of manufacturing facilities by key players, and growing patient awareness of novel technologies in the area, Asia-Pacific is predicted to grow at the fastest rate during the forecast period of 2023 to 2030.
To know more about the study, visit, https://www.databridgemarketresearch.com/es/reports/global-spinal-implants-and-spinal-devices-market
The Prominent Key Players Operating in the Global Spinal Implants Market Include:
- Medtronic (Ireland)
- Zimmer Biomet (U.S.)
- Alphatec Spine Inc. (U.S.)
- RTI Surgical (U.S.)
- Stryker (U.S.)
- Orthofix US LLC (U.S.)
- NuVasive Inc. (U.S.)
- Globus Medical (U.S.)
- Aesculap Inc. (U.S.)
- Apollo Hospitals Enterprise Ltd. (India)
- Centinel Spine LLC (U.S.)
- Premia Spine (U.S.)
- Exactech Inc. (U.S.)
- Aesculap Inc. (U.S.)
- Lumitex LLC (U.S.)
- Life Spine Inc. (U.S.)
- Integra LifeSciences (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global spinal implants market companies contact, https://www.databridgemarketresearch.com/es/contact
Research Methodology: Global Spinal Implants Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
