Spinal Implants Market Forecast to 2031 - Size, Share, Trends
[Research Report] The spinal implants market forecast can help stakeholders in this marketplace outline their growth strategies. The market is projected to grow from US$ 11.88 billion in 2023 to US$ 19.68 billion by 2031; it is estimated to record a CAGR of 6.5% during 2023–2031.
Market Insights and Analyst View:
Spinal implants are medical devices used in spine stabilization procedures to strengthen the spine, treat deformity, and facilitate fusion. Spine injuries are generally caused by trauma or by slipped vertebrae due to degenerative intervertebral disks. Factors such as the surging number of spinal implant procedures, and the rising incidence of trauma and sport-related injuries propel the spinal implants market growth. However, stringent regulations impede the growth of the market. 3D printing of implants for surgical procedures is expected to bring new spinal implants market trends in the coming years.
Growth Drivers:
Rising Incidence of Trauma and Sport-Related Injuries
Traumatic injuries, including those from accidents and sports activities, often require spinal interventions, including the use of implants for stabilization and reconstruction. The increasing incidence of traumatic spinal injuries contributes to the demand for spinal implants. According to the World Health Organization (WHO), globally, ~1.19 million people die every year in road crashes, and 20–50 million people suffer non-fatal injuries, with many incurring a disability. Similarly, according to the Mayo Clinic estimates, sports and athletic activities such as diving in shallow water, basketball, and football cause ~10% of spinal cord injuries. The WHO data also suggests that 250,000–500,000 spinal cord injuries (SCIs) are recorded annually across the world. However, the majority of spinal cord injuries, including those caused by car accidents, falls, or assaults, are preventable. People suffering from SCIs are 2–5 times more likely to die prematurely than those without them, with low- and middle-income nations reporting notably lower survival rates. Thus, the increasing incidence of trauma and sport-related injuries results in a high demand for surgical interventions, in turn, boosting the spinal implants market growth.
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Spinal Implants Market: Strategic Insights
Market Size Value in US$ 11.88 billion in 2023 Market Size Value by US$ 19.68 billion by 2031 Growth rate CAGR of 6.5% from 2023 to 2031 Forecast Period 2023-2031 Base Year 2022
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Spinal Implants Market: Strategic Insights
Market Size Value in | US$ 11.88 billion in 2023 |
Market Size Value by | US$ 19.68 billion by 2031 |
Growth rate | CAGR of 6.5% from 2023 to 2031 |
Forecast Period | 2023-2031 |
Base Year | 2022 |
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Speak to AnalystReport Segmentation and Scope:
The spinal implants market analysis has been carried out by considering the following segments: product, procedure, material, and end user.
By product, the market is bifurcated into fusion spinal implants and non-fusion spinal implants. The fusion spinal implants segment held a larger spinal implants market share in 2023. It is anticipated to register a higher CAGR during the forecast period. The market for the fusion spinal implants segment is subsegmented into thoracolumbar devices, cervical fixation devices, and interbody fusion devices.
The market, by procedure, is categorized into foraminotomy, laminectomy, spinal disc replacement, spine fusion, and discectomy. The laminectomy segment held the largest spinal implants market share in 2023, and spine fusion is further estimated to register the highest CAGR during the forecast period.
The spinal implants market, by material, is segmented into titanium, carbon fiber, and stainless steel. The stainless steel segment held the largest market share in 2023; it is anticipated to register the highest CAGR during the forecast period.
The spinal implants market, by end user, is categorized into hospitals, diagnostic and imaging centers, and others. The hospitals segment held the largest market share in 2023. It is further expected to register the highest CAGR during the forecast period.
Regional Analysis:
The geographic scope of the spinal implants market report includes North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2023, North America held the largest market share. The growing adoption of the latest medical devices, the high prevalence of spinal injuries, and product innovations by key players contribute to the expansion of the spinal implants market size in North America. According to the Cleaveland Clinic, the US reports ~18,000 new traumatic spinal cord injury cases each year, which is equivalent to ~54 cases per 1 million population. Additionally, age-related wear-and-tear triggers the prevalence of lower back pain (LBP) among the geriatric population in the US, in turn, fuels the demand for spinal surgeries and implantable devices. According to National Health Services, in 2022, the lifetime incidence of LBP in the US is reported to be 60–90%, with an annual incidence of 5%. The source also states that 14.3% of new patients visit physicians each year because of LBP, and ~13 million people visit physicians due to chronic LBP. Thus, the high prevalence of spinal cord injury and LBP favors the spinal implants market progress.
Spinal Implants Market Report Scope
Industry Developments and Future Opportunities:
A few strategic developments by leading players operating in the spinal implants market, as per company press releases, are listed below:
- In October 2023, Silony Medical International AG completed the acquisition of Centinel Spine's Global Fusion Business. Through this acquisition, Silony makes major entry into the US market & significantly strengthens its anterior standalone cage offering.
- In September 2023, Globus Medical Inc completed its merger with NuVasive Inc. The combined company provides surgeons and patients with one of the most complete musculoskeletal procedural solutions, enabling technological advances across the care continuum.
- In November 2022, NuVasive Inc. announced the commercial launch of the NuVasive Tube System (NTS) and Excavation Micro, a revolutionary minimally invasive surgery (MIS) technology offering complete solutions for transforaminal lumbar interbody fusion (TLIF) and decompression. With additions to the NuVasive P360 portfolio, the company enhanced its access and instrumentation technology capabilities.
- In August 2022, Nexus Spine announced the full commercial launch of its PressON posterior lumbar fixation system. PressON rods are designed to press onto pedicle screws rather than set screws. This unique biomechanically stronger design measures approximately one-quarter the size of standard systems. The rods are implanted faster, and they avoid the chance of set screw loosening and allow for intraoperative rod assembly for patients. The complete market release allowed the company to expand its compliant mechanism-based portfolio, which includes a range of flexible Tranquil titanium interbody fusion devices that are offered after an exhaustive validation period of refinements and system improvements.
- In October 2021, NuVasive Inc launched the Cohere TLIF-O implant. With the addition of the Cohere TLIF-O implant to its Advanced Materials Science (AMS) portfolio, NuVasive has become the only company to provide both porous PEEK and porous titanium implants for posterior spinal surgery.
Competitive Landscape and Key Companies:
Stryker Corporation, Johnson & Johnson, Globus Medical Inc, ZimVie Inc, Camber Spine Technologies LLC, Spineart SA, Medtronic plc, Orthofix US LLC, ATEC Spine Inc, and B. Braun SE are among the prominent companies profiled in the spinal implants market report. These companies focus on developing new technologies, upgrading existing products, and expanding their geographic presence to meet the growing consumer demand worldwide.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Procedure, Material, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The spinal implants market, by end user, is categorized into hospitals, diagnostic and imaging centers, and others. The hospitals segment held the largest market share in 2023. It is further expected to register the highest CAGR during the forecast period.
The spinal implants market, by material, is segmented into titanium, carbon fiber, and stainless steel. The stainless steel segment held the largest market share in 2023; it is anticipated to register the highest CAGR during the forecast period.
The market, by procedure, is categorized into foraminotomy, laminectomy, spinal disc replacement, spine fusion, and discectomy. The laminectomy segment held the largest spinal implants market share in 2023, and spine fusion is further estimated to register the highest CAGR during the forecast period.
The spinal implants market is expected to be valued at US$ 19.68 billion in 2031.
By product, the market is bifurcated into fusion spinal implants and non-fusion spinal implants. The fusion spinal implants segment held a larger spinal implants market share in 2023. It is anticipated to register a higher CAGR during the forecast period.
The spinal implants market was valued at US$ 11.88 billion in 2023.
Factors such as surging number of spinal implant procedures and rising incidence of trauma and sport-related injuries propel the spinal implants market growth.
The spinal implants market majorly consists of the players, including Stryker Corporation, Johnson & Johnson, Globus Medical Inc, ZimVie Inc, Camber Spine Technologies LLC, Spineart SA, Medtronic plc, Orthofix US LLC, ATEC Spine Inc, and B. Braun SE.
Spinal implants are medical devices used in spine stabilization procedures to stabilize and strengthen the spine, treat deformity, and facilitate fusion. The spine injuries are generally caused by trauma or by slipped vertebrae due to degenerative intervertebral disks.
1. Introduction
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. Research Methodology
4. Spinal Implants Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Spinal Implants Market - Key Market Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. Spinal Implants Market - Global Market Analysis
6.1 Spinal Implants - Global Market Overview
6.2 Spinal Implants - Global Market and Forecast to 2031
7. Spinal Implants Market – Revenue Analysis (USD Million) – By Product, 2021-2031
7.1 Overview
7.2 Fusion Spinal Implants
7.2.1 Thoracolumbar Devices
7.2.2 Cervical Fixation Devices
7.2.3 Interbody Fusion Devices
7.3 Non-Fusion Spinal Implants
8. Spinal Implants Market – Revenue Analysis (USD Million) – By Procedure, 2021-2031
8.1 Overview
8.2 Foraminotomy
8.3 Laminectomy
8.4 Spinal Disc Replacement
8.5 Spine Fusion
8.6 Discectomy
9. Spinal Implants Market – Revenue Analysis (USD Million) – By Material, 2021-2031
9.1 Overview
9.2 Titanium
9.3 Carbon Fiber
9.4 Stainless Steel
10. Spinal Implants Market – Revenue Analysis (USD Million) – By End User, 2021-2031
10.1 Overview
10.2 Hospitals
10.3 Diagnostics and Imaging Centers
10.4 Others
11. Spinal Implants Market - Revenue Analysis (USD Million), 2021-2031 – Geographical Analysis
11.1 North America
11.1.1 North America Spinal Implants Market Overview
11.1.2 North America Spinal Implants Market Revenue and Forecasts to 2031
11.1.3 North America Spinal Implants Market Revenue and Forecasts and Analysis - By Product
11.1.4 North America Spinal Implants Market Revenue and Forecasts and Analysis - By Procedure
11.1.5 North America Spinal Implants Market Revenue and Forecasts and Analysis - By Material
11.1.6 North America Spinal Implants Market Revenue and Forecasts and Analysis - By End User
11.1.7 North America Spinal Implants Market Revenue and Forecasts and Analysis - By Countries
11.1.7.1 United States Spinal Implants Market
11.1.7.1.1 United States Spinal Implants Market, by Product
11.1.7.1.2 United States Spinal Implants Market, by Procedure
11.1.7.1.3 United States Spinal Implants Market, by Material
11.1.7.1.4 United States Spinal Implants Market, by End User
11.1.7.2 Canada Spinal Implants Market
11.1.7.2.1 Canada Spinal Implants Market, by Product
11.1.7.2.2 Canada Spinal Implants Market, by Procedure
11.1.7.2.3 Canada Spinal Implants Market, by Material
11.1.7.2.4 Canada Spinal Implants Market, by End User
11.1.7.3 Mexico Spinal Implants Market
11.1.7.3.1 Mexico Spinal Implants Market, by Product
11.1.7.3.2 Mexico Spinal Implants Market, by Procedure
11.1.7.3.3 Mexico Spinal Implants Market, by Material
11.1.7.3.4 Mexico Spinal Implants Market, by End User
Note - Similar analysis would be provided for below mentioned regions/countries
11.2 Europe
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 Spain
11.2.5 United Kingdom
11.2.6 Rest of Europe
11.3 Asia-Pacific
11.3.1 Australia
11.3.2 China
11.3.3 India
11.3.4 Japan
11.3.5 South Korea
11.3.6 Rest of Asia-Pacific
11.4 Middle East and Africa
11.4.1 South Africa
11.4.2 Saudi Arabia
11.4.3 U.A.E
11.4.4 Rest of Middle East and Africa
11.5 South and Central America
11.5.1 Brazil
11.5.2 Argentina
11.5.3 Rest of South and Central America
12. Industry Landscape
12.1 Mergers and Acquisitions
12.2 Agreements, Collaborations, Joint Ventures
12.3 New Product Launches
12.4 Expansions and Other Strategic Developments
13. Competitive Landscape
13.1 Heat Map Analysis by Key Players
13.2 Company Positioning and Concentration
14. Spinal Implants Market - Key Company Profiles
14.1 Stryker Corporation
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
Note - Similar information would be provided for below list of companies
14.2 Johnson and Johnson
14.3 Globus Medical Inc
14.4 ZimVie Inc
14.5 Camber Spine Technologies LLC
14.6 Spineart SA
14.7 Medtronic Plc
14.8 Orthofix US LLC
14.9 ATEC Spine Inc
14.10 B. Braun SE
15. Appendix
15.1 Glossary
15.2 About The Insight Partners
15.3 Market Intelligence Clouda
The List of Companies - Spinal Implants Market
- Stryker Corporation
- Johnson & Johnson
- Globus Medical Inc
- ZimVie Inc
- Camber Spine Technologies LLC
- Spineart SA
- Medtronic plc
- Orthofix US LLC
- ATEC Spine Inc
- B. Braun SE
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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