What is Spinal Implants and Devices Market?
Spinal implants are devices used by surgeons during surgery to treat deformity, stabilize and strengthen the spine, and facilitate fusion. Disorders treated using spinal implants include degenerative disc disease, scoliosis, kyphosis, spondylolisthesis, and fracture. The implantable pulse generator system is intended to treat chronic pain by electrically stimulating the spinal cord. The multi-channel, multi-electrode device ability offers flexibility in conjunction with ease of programming. There are many different types of metal devices that are used to perform a lumbar fusion. These devices connect two or more vertebrae together, hold them in the correct position, and keep them from moving until they have a chance to grow together, or fuse.
The market study is being classified by Type (Fusion Devices [Cages, Plates, Rods] and Non-Fusion Devices [Expandable Rods, Artificial discs]), by Application (Open Spine Surgery and Minimally Invasive Spine Surgery) and major geographies with country level break-up.
Medtronic plc (Ireland), DePuy Synthes (United States), Orthofix Holdings, Inc. (United States), Zimmer (United States), Ottoback (Germany), Wright Medical Group (United States), Tornier (United States), Smith & Nephew (United Kingdom), Globus Medical, Inc. (United States), Solvay (Belgium), Evonik (Germany), Arkema (France) and Akzo Nobel (Netherlands) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Peroxy Chem (United States), Kemira (Finland) and Aesculap, Inc. (United States).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Spinal Implants and Devices market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Spinal Implants and Devices market by Type, Application and Region.
On the basis of geography, the market of Spinal Implants and Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Procedural Number Fueled by the Aging Population
- Growing Incidences of Spinal Ailments
Market Trend
- Development of Fixation Devices
- Increasing Expenditure on Healthcare
Restraints
- High Cost of Spinal Surgeries
- Risks and Complications such as Infections, Surgical Risks, and Implant Failure
Opportunities
- Growing Healthcare Infrastructure in Emerging Markets
Challenges
- Stringent Government Regulations Regarding Healthcare Technologies
Market Leaders and some development strategies
On June 27, 2019 - Medtronic plc, a global leader in medical technology, announced that it has completed the acquisition of Titan Spine, a privately-held titanium spine interbody implant and surface technology company. The acquisition of Titan Spine strengthens Medtronic’s position as a leading innovator in procedural solutions for spine surgery.
On February 28, 2019 - Medtronic plc has announced that the Japanese launch of the Grafton(TM) Demineralized Bone Matrix (DBM) bone grafting product for spine and orthopedic procedures. Grafton DBM is the first and only demineralized bone matrix product available in Japan, the world's second largest market for spinal medical devices.
Key Target Audience
Manufacturers of Medical Device, Suppliers of Medical Device, Wholesalers, Distributors and Retailers of Medical Device, Healthcare Industry, Governmental Bodies and Research Firms