Spinal Implants Market: Valued at USD 10.6 billion (2023)

MarkNtel Advisors recently published a research report mentioning that the Global Spinal Implants Market size was valued at USD 10.6 billion in 2023 and is estimated to grow at a CAGR of around 6.1% during the forecast period, i.e., 2024-30. The growth of the market is propelled by numerous aspects, such as the escalation in injuries related to sports, rising technological advancements, etc. These road accidents are essentially accountable for spinal and other injuries that have boosted the demand for spinal implants.

Additionally, with the rising old-age population and the geriatric population, the prevalence of bone and spinal illnesses is anticipated to surge through the world, further backing the implementation of spinal implants for effective treatments. Moreover, developing economies are likely to offer growth prospects to the Global Spinal Implants Market.

Examining the Market Segmentation of the Global Spinal Implants Market

• By Product (Thoracic & Lumbar Fusion Devices, Cervical Fusion Devices, Spine Biologics, VCF Treatment Devices, Spinal Decompression Devices, Non-fusion Devices, and Spine Bone Stimulators)
• By Application (Spinal Fusion & Fixation, VCF Treatment, Motion Preservation/Non-fusion, and Spinal Decompression)
• By Type of Surgery (Open Surgery and Minimally Invasive Surgery)
• By End User (Hospitals, Specialty Clinics, and Others (Ambulatory Surgical Centers, Research Organizations, etc.))
• By Region (North America, South America, Europe, The Middle East & Africa, and Asia-Pacific)

Hospitals have a leading edge in the Spinal Implants Market with the maximum share. The segment’s growth is majorly accredited to the point that hospitals have been prominent medical facilities providing to people facing an extensive range of disorders, such as spinal disorders and others. Additionally, the market growth is fueled by the substantial growth in the development of hospitals, globally which is stimulated by rising health consciousness & the objective to enhance public healthcare. Besides, the increasing number of hospitals in the forecast period and the governments across diverse countries have been taking initiatives to incessantly boost the healthcare infrastructure of their country, which is leading to enhanced funding for the construction of new hospitals.

North America retains the maximum share of the Global Spinal Implants Market. The regional growth is majorly propelled by the existence of chief market players, product introductions, government initiatives, etc. The presence of a wide number of patients with numerous orthopedic diseases, including arthritis in the region which causes several spinal illnesses such as spinal stenosis, spondylosis, etc., has fueled the North American Spinal Implants Market. Moreover, additional factors such as the augmented involvement in sports and other activities have led to a rise in the cases of sports-related injuries, including those that affect the spine along with the increasing old-age population is also propelling the market growth.

Unveiling Some of the Prominent Companies in the Global Spinal Implants Market

Global Spinal Implants Market includes market players such as Medtronic Plc, Johnson & Johnson Medtech, Nuvasive, Inc., Stryker Corporation, Globus Medical, Inc., Zimmer Biomet Holdings, Inc., Orthofix International N.V., Ulrich Gmbh & Co. Kg, B. Braun Melsungen Ag, Integra Lifesciences Holdings Corporation, Boston Scientific Corporation, Abbott Laboratories, Spineart, Centinel Spine Llc, Premia Spine, and Others. With constant evolvements and implementation of market tactics, these companies have gained significant traction and are anticipated to have a leading edge in the coming years as well.

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