Spinal Implants Market Trends, Analysis and Forecast, 2019-2028
"The global spinal implant market is estimated to witness a moderate growth rate of around 5% during the period of 2019–2028. Spinal implants are devices used to treat various spinal disorders and deformities, stabilize and strengthen the spine, and facilitate fusion. Advancements in spine surgery technologies, a surge in the prevalence of spinal disorders, increasing adoption of minimally invasive spine surgeries, and innovation of advanced bone grafting products are some factors expected to propel the demand for the spinal implant across the globe. The annual global incidence of spinal cord injury has been estimated to be 40 to 80 cases per million globally as per the data published by the World Health Organization (WHO).
With advancements in technology and the incorporation of AI in other fields of medicine, the potential for robot-assisted surgeries in spine-related procedures has been increasing. Recognizing the high efficiency and accuracy of such procedures, the demand for spinal implants and surgical devices is expected to be positively impacted. Key players in the industry have continuously been involved in the process of R&D and have recognized the benefits of biocompatible materials in the manufacturing of implants and surgical devices. Such innovations are expected to further drive up the growth of the market in the forecasted period. However, stringent regulatory approvals and the high cost of spinal surgery are expected to restrain the global spinal implant market growth during the forecast period.

Thoracic and lumbar applications, collectively to hold a substantial share
Thoracic fusion and lumbar fusion devices hold the largest market share among the other applications. This is mainly due to the increasing incidence of lumbar degenerative disc disease and the growing number of product launches in the marketplace. For instance, in March 2021, Spine Wave Inc. has launched a 3D Titanium lumbar Interbody Device with advanced technology and features that would help in curing the spine disease more quickly. Further, a growing number of spinal procedures and bone grafting procedures are also augmenting the segmental growth of the market.

North America to remain key region
Asia Pacific is expected to grow at the fastest CAGR during the forecast period owing to improving healthcare infrastructure in the region, rising awareness regarding the latest spinal implant technologies among people, and improving reimbursement scenarios. Moreover, increasing spinal procedures coupled with the surging incidence of spinal disorders in the region is further escalating the regional demand for spinal implants. North America led the global demand for spinal implants in 2021 and is expected to hold dominant position during the forecast period. The adoption of spinal implants and devices in surgery, the rise in procedure volumes, and the increasing aging population in North America are some of the factors aiding North America spinal market growth.

Further, in Europe the growing development in the surgeries of spinal disorders coupled with the increasing number of patients is accelerating the demand for spinal implants. Also, the European government has initiated development in bone grafting products which is further boosting the demand for spinal implants in the region. Latin America spinal implant market is positively influenced by the emerging technologies in spinal surgeries such as fusion, fixation, decompression and motion preservation within the industry and ease of access to healthcare facilities in the economies such as Brazil and Mexico.

Market Structure and Competitive Landscape
Some of the prominent players that contribute significantly to the market include Medtronic PLC, DePuy Synthes (Johnson & Johnson), Stryker Corp., NuVasive Inc., B. Braun Melsungen AG, Zimmer Biomet, Globus Medical Inc., Orthofix Medical Inc., Aesculap Inc., ulrich GmbH & Co. KG, Spinal Elements Inc., Surgalign Spine Technologies Inc., ATEC Spine Inc., SeaSpine Orthopedics Corp., Spineart SA, Implanet, and Meditech Spine LLC among others. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global spinal implant market include,
• In November 2021, Globus Medical Inc. approached NuVasive Inc., a US manufacturer of spine surgery equipment with an acquisition offer.
• In March 2021, Implanet, a medical technology company specializing in knee-surgery implants, acquired Orthopaedic & Spine Development (OSD).
• In January 2020, Medtronic plc acquired Stimgenics, LLC, a privately held company based in Bloomington specialized in novel spinal cord stimulation (SCS). "
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• Analyzing the outlook of the market with the recent trends and SWOT analysis
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Table of content

1. Market Introduction
1.1. Scope of Study
1.2. Problem Statement
1.3. Market Segmentation

2. Assumptions and Acronyms

3. Executive Summary
3.1. Global Market in 2022
3.2. Analyst Insights & Recommendations
3.3. Growth Opportunities and Key Strategies
3.4. Supply-side and Demand-side Trends

4. Research Methodology

5. Analysis of COVID-19 Impact and Road Ahead

6. Market Indicators and Background
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