Market growth influenced due to following factors-
- Advancements in spine surgery technologies.
- Increasing incidence of spinal disorders.
- Launch of advanced bone grafting products.
- Increasing adoption of minimally invasive spine surgeries are the major factors driving the growth of this segment.
Global market size-
According to research report the spinal implants market is projected to reach $13.8 billion by 2025, at a CAGR of 5.0%.
Leading Players-
The major players operating in the spinal implants and surgery devices market are Medtronic (Ireland), DePuy Synthes (US), NuVasive, Inc. (US), Stryker Corporation (US), B. Braun Melsungen AG (Germany), Zimmer Biomet Holdings, Inc. (US), Globus Medical, Inc. (US), Orthofix International N.V. (US), Abbott Laboratories (US), RTI Surgical, Inc. (US), Boston Scientific (US), SeaSpine Holdings Corporation (US), ulrich GmbH & Co. KG (Germany), Spineart (Switzerland), Kuros Biosciences AG (Switzerland), Bioventus, LLC (US), Colfax Corporation (US), Meditech Spine, LLC (US), and Implanet (France).
Top Recent Developments -
> In 2020, Medtronic (Ireland) acquired Stimgenics, a US-based, privately held company that has pioneered a novel spinal cord stimulation (NYSE:SCS).
> In 2019, DePuy Synthes (US) launched Symphony Occipitocervico-thoracic System.
> In 2019, NuVasive (US) launched Modulus TLIF-O.
> In 2018, NuVasive (US) and Biedermann Motech GmbH & Co. KG (Germany) entered into a strategic partnership to access intellectual properties and co-develop state-of-the-art complex spine solutions.
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Geographic Overview -
The spinal implants and surgery devices market is segmented into five regional segments, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The large share of the North American market can be attributed to its highly developed healthcare infrastructure and reimbursement systems and high patient awareness and physician education.
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