Bharat Book Bureau Provides the Trending Market Research Report on “Spine Implants Global Market Report 2020-30”under Medical Devices Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.
Spine Implants Global Market Report 2020-30: Covid 19 Growth provides the strategists, marketers and senior management with the critical information they need to assess the global spine implants market.
This report focuses on Spine Implants Market which is experiencing strong growth. The report gives a guide to the spine implants market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
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Where is the largest and fastest growing market for the spine implants? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Spine Implants market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider spine implants market, and compares it with other markets.
• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the Covid 19 virus and forecasting its growth.
• Market segmentations break down market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of Covid 19 for all regions, key developed countries and major emerging markets.
• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
• The spine implants market section of the report gives context. It compares the spine implants market with other segments of the spine implants market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, spine implants indicators comparison.
1) By Product: Spinal Fusion Devices; Non-Fusion Devices/Motion Preservation Devices; Vertebral Compression Fracture (VCF) Treatment Devices; Spinal Bone Stimulators; Spine Biologics
2) By Procedure: Open Surgery; Minimally Invasive Surgery (MIS)
3) By Material: Metallic; Polymeric; Ceramic
4) By End Use: Hospitals; Specialty Orthopedic And Spine Centers; Ambulatory Surgical Centers
Companies Mentioned: Medtronic; Depuy Synthes; Johnson & Johnson; Stryker Corporation; NuVasive, Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Major players in the spine implants market are Medtronic, Depuy Synthes, Johnson & Johnson, Stryker Corporation, NuVasive, Inc., Zimmer Biomet Holdings, Globus Medical, Alphatec Holdings, Orthofix International, and RTI Surgical.
The global spine implants market is expected to decline from $12.44 billion in 2019 to $11.83 billion in 2020 at a compound annual growth rate (CAGR) of -4.92%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The outbreak decreased the demand for spine implants as the treatments for spinal problems were on hold to serve the COVID patients, impacting the market negatively. The market is then expected to recover and reach $13.81 billion in 2023 at a CAGR of 5.31%.
The market for spine implants consists of sales of inserts used in the spinal surgery. Spine implants are the devices used to correct the deformity in the spine, stabilize and strengthen the spine and facilitate fusion of bones in different disorders such as degenerative disc disease, kyphosis, scoliosis, spondylolisthesis, spinal stenosis and fracture. The market consists of revenue generated by the companies manufacturing spine implants by the sales of these products.
North America was the largest region in the spine implants market in 2019.
In June 2019, Medtronic completed the acquisition of Titan Spine for an undisclosed amount. Ireland-based Medtronic is a world leader in medical technology, services and solutions whereas Titan Spine is a Mequon-based medical device developer pioneered in titanium interbody fusion devices featuring a surfacing technology. Interbody implants are spacers that can be inserted between the vertebrae during spinal fusion surgery to help relieve pressure on nerves and hold the vertebrae in place while the fusion occurs. Medtronic maintains its position as a leading innovator in procedural solutions for spine surgery by the acquisition of Titan Spine. Now, Medtronic’s spine division, a part of Restorative Therapies Group, expands its existing spine technologies by adding Titan Spine’s products in its portfolio.
The spine implants market covered in this report is segmented by product into spinal fusion devices; non-fusion devices/motion preservation devices; vertebral compression fracture (VCF) treatment devices; spinal bone stimulators; spine biologics. It is also segmented by procedure into open surgery; minimally invasive surgery (MIS), by material into metallic; polymeric; ceramic and by end-use into hospitals; specialty orthopedic and spine centers; ambulatory surgical centers.
The increased treatment procedural cost is acting as a hindrance to the global spinal implants market growth. According to a study published in 2019 in National Center for Biotechnology Information, 1862 patients underwent different spinal surgeries and the direct cost (preoperative consultation, imaging studies, hospital costs, medical fees, implants, physical medicine treatments, ambulance transfers and post-surgery follow up costs) of all spinal interventions for 1,862 patients in 1 year was $12,389,960. The cost of spinal surgeries has increased by 175% globally and in the US, the annual cost of spine care is estimated at $105 billion per patient annually. Increased treatment procedural costs will increase monetary concerns, limiting the market growth.
The innovation of implants in providing minimally invasive and motion-preserving stabilization is a major trend in the spine implants market. For example, RTI Surgical Holdings, a global surgical implant company, has launched the first and only posterior lumbar motion preservation solution, Coflex. Coflex is a differentiated, minimally-invasive, motion-preserving stabilization implant that is FDA PMA-approved for the treatment of moderate to severe lumbar spinal stenosis (LSS). It can be directly implanted following a surgical decompression, without fusing the bones. The device comes in different sizes to fit the patient’s anatomy, and this can be performed even in an outpatient setting.
The rising incidences of spinal disorders coupled with the usage of the minimally invasive surgical procedures are contributing to the growth of the global spinal implants market. According to an article published in 2018 in Global Spine Journal, the annual world’s population having spinal disorders includes 3.63% lumbar degenerative spine disease (DSD) and low back pain (LBP) collectively, 0.53% spondylolisthesis, 5.5% symptomatic disc degeneration and 1.41% spinal stenosis. And due to the emergence of minimally invasive spine surgical (MISS) approaches, it has now become feasible and efficient for treating a wide range of spinal disorders without long incision and by avoiding significant damage to muscles surrounding the spine, thereby resulting in less post-operative pains and faster recovery. Therefore, increased prevalence of spinal disorders along with the ease in treatment by MISS approaches is driving the global spinal implants market.
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