The elements such as rising advancements in spine surgery technologies, increasing incidences of spine disorders, an increasing number of launches of advanced bone grafting products, are boosting the Spinal Implants and Surgery Devices Market growth
JERSEY CITY, N.J., March 30, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Spinal Implants and Surgery Devices Market" By Type (Open Surgeries, Minimally Invasive Surgeries), By Technology (Spinal Fusion And Fixation, Spinal Decompression), By Product (Cervical Fusion Devices, Spine Biologics), and By Geography. According to Verified Market Research, the Global Spinal Implants and Surgery Devices Market size was valued at USD 10.1 Billion in 2020 and is projected to reach USD 14.1 Billion by 2028, growing at a CAGR of 4.2% from 2021 to 2028.
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Global Spinal Implants and Surgery Devices Market Overview
The growing demand for minimally invasive surgical procedures is expected to fuel the growth of the global Spine Implants and Surgery Devices Market in the forecasted period. Besides, due to the lack of awareness and trained professionals, more cost of treatment procedures, and uncertainty in reimbursement might hamper the overall growth of the market.
Therefore, the emerging markets and the rising number of hospitals and surgical centers are good opportunities for market growth. Challenges such as lack of appropriate physicians and limited awareness or education are essential to be considered. Spine surgery technologies are evolving continuously. The launch of the latest advanced or modern bone grafting products is further expected to drive the demand of the market. With enlarging awareness among the people, the trend of adoption of minimally invasive spine surgeries is increasing which will positively affect the market.
Distant from escalating elderly population, the spinal implant is also catering to the recent modern technological advancements, which not only have upgraded the quality but also made the surgeries more affordable for larger masses. In addition, the increasing health awareness among the masses, along with rising in the disposal capacity of the population is moving the market growth. Improving patient knowledge for such surgeries is also expected to stimulate market growth.
Key Developments
- In January 2022, Stryker announced a definitive merger agreement to acquire all of the issued and outstanding shares of common stock of Vocera Communications, Inc. for USD 79.25 per share, or a total equity value of approximately $2.97 billion and a total enterprise value of approximately $3.09 billion.
- In Dec 2021, DePuy Synthes, a division of Johnson & Johnson has announced the acquisition of OrthoSpin through its Synthes GmbH affiliate. OrthoSpin, based in Israel, creates a robot-assisted external fixation system for orthopedic treatments
- In 2020, Medtronic (Ireland) acquired Stimgenics, a US-based, privately held company that has pioneered a novel spinal cord stimulation (SCS).
Key Players
The major players in the market are Medtronic plc, NuVasive, Inc., Orthofix International N.V., Stryker Corporation, Zimmer Biomet Holdings, Inc., Alphatec Spine, Inc., B. Braun Melsungen AG, DePuy Synthes, Exactech, Inc., and Globus Medical, Inc.
Verified Market Research has segmented the Global Spinal Implants and Surgery Devices Market On the basis of Type, Technology, Product, and Geography.
- Spinal Implants and Surgery Devices Market, By Type
- Open Surgeries
- Minimally Invasive Surgeries
- Spinal Implants and Surgery Devices Market, By Technology
- Spinal Fusion & Fixation
- Vertebral Compression Fracture Treatment
- Spinal Decompression
- Motion Preservation/Non B Fusion
- Spinal Implants and Surgery Devices Market, By Product
- Thoracic Fusion & Lumbar Fusion Devices
- Cervical Fusion Devices
- Spine Biologics
- Vertebral Compression Fracture Treatment Devices
- Spinal Decompression Devices
- Non-Fusion Devices
- Spine Bone Stimulators
- Spinal Implants and Surgery Devices Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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