Global spinal implants market is registering a substantial CAGR of 6.58% in the forecast period of 2019-2026. This rise in the market can be attributed to the technological upgradations in spine surgery and surging aging and obese population globally which is increasing the figure of spine deformities.
Few of the major market competitors currently working in the global spinal implants market are Medtronic, Zimmer Biomet, Alphatec Spine Inc., K2M Inc., RTI Surgical Holdings Inc., Stryker, Orthofix Holdings Inc., NuVasive Inc., DePuy Synthes, Globus Medical Inc., Aesculap Inc., Apollo Hospitals Enterprise Ltd., Centinel Spine LLC, Spineart, Reliance Medical Systems, Paradigm Spine, Premia Spine, Exactech Inc., Aesculap Implant Systems LLC, Lumitex Inc., SpineFrontier Inc., Life Spine Inc., Integra LifeSciences Corporation among others.
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The Spinal Implants market report contains information and data in the form of charts, tables and graphs which is easily understandable to the users. This report deals with several markets internationally including Asia, North America, South America, and Africa in accord with the client’s needs. It endows them with the best possible solutions and meticulous information about the market trends. The best analytical methods have been employed in the report, namely SWOT analysis and Porter’s Five Forces analysis wherever applicable. What is more, the report offers advanced information and scenario about the Healthcare industry which helps to stand apart in the competition in this fast paced business environment. This Spinal Implants market report also offers insights into revenue generation and sustainability initiative.
Market Definition: Global Spinal Implants Market
There is a prevalence of spinal disorders globally which is driving the need for implants. These are instruments which are used at the time of spinal surgery to facilitate fusion, stabilize, correct deformities and strengthen the spine. The spinal implants are made of metals such as stainless steel or titanium and are available in different sizes according to the requirement for treatment. It is also categorized into hooks, cages, pedicles screw, plates and rods. There is a lot of research done to refine implants to improve patient outcomes.
Segmentation: Global Spinal Implants Market
Spinal Implants Market : By Configuration
- Spinal Fusion Devices
- Non-Fusion Devices/Motion Preservation Devices
- Vertebral Compression Fracture (VCF) Treatment Devices
- Spinal Bone Stimulators
- Spine Biologics
Spinal Implants Market : By Procedure
- Open Surgery
- Minimally Invasive Surgery
Spinal Implants Market : By Material
- Stainless Steel
Spinal Implants Market : By Geography
- North America
- South America
- Middle East and Africa
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Key Developments in the Spinal Implants Market:
- In June 2019, NuVasive Inc. has announced the launch of new product Modulus TLIF-O. It is a titanium spine implant made for transforaminal lumbar interbody fusion procedure. With this launch, the company will expand the product portfolio as well as increase its market share.
- In May 2019, Medtronic announced its acquisition of Titan Spine. The acquisition will expand the product portfolio of Medtronic and it will also strengthen its market share. This deal will establish Medtronic as a key innovator in spinal surgical procedural solutions and it will increase the goodwill in the market.
Spinal Implants Market : Drivers
- The growing geriatric and obese population is driving the growth of the market
- The surging prevalence of spinal disorders is fueling the growth of the market
- The spinal surgery has undergone some innovations which has led to market growth
- The minimally invasive surgery has gained interest among the surgeon which is contributing to the growth of the market
- The bone grafting products is going under technological innovations and developments which is contributing to the growth of the market
Spinal Implants Market : Restraints
- Due to stringent compliances and regulatory approval procedure is restraining the growth of the market
- The unfavorable reimbursement scenario is hampering the growth of the market
- The treatment procedural cost are increased which act as a hindrance in the market growth
Spinal Implants Market : Competitive Analysis
Spinal implants market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares spinal implants market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Scope of the Spinal Implants Market Report : –
The report shields the development activities in the Spinal Implants Market which includes the status of marketing channels available, and an analysis of the regional export and import. It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments. This will benefit the report’s users, that evaluates their position in Spinal Implants market as well as create effective strategies in the near future.
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