Spinal Implants And Surgical Devices Market To Develop And Reach USD 17.47 Billion By 2024: ZMR

Spinal implants and surgical devices are gadgets employed to treat deformity, facilitate fusion, and stabilize & strengthen the spine. Kyphosis, degenerative disc disease, fracture, scoliosis, and spondylolisthesis are some diseases that are treated with the assistance of surgical devices and spinal implants. The spinal implants and surgical devices market is likely to create income of almost USD 17.47 Billion by 2024. The global market is increasing at a CAGR of almost 5.80% from 2018 to 2024.

The rise in the prevalence and occurrence of spinal disorders and deformities is majorly boosting the development of the global spinal implants and surgical devices market. In addition to this, the rapid enhancement in the products and technologies employed in spinal implants and surgical devices and increasing requirement for these goods are rising the popularity of the global spinal implants and surgical devices market. The increment in geriatric population as well as obese people, increasing the requirement for minimally invasive methods, and elevation in the rate of accidents that hinder hamper the position of the spinal cord are some of the other reasons that responsible for the development of the global spinal implants and surgical devices market. In addition to this, increasing investment from market players is one of the major reasons that it is accountable for the development of global spinal implants and surgical devices market. For instance, in March 2018, the Spine Division of Stryker got FDA approval for 3D-Printed Tritanium TL Curved Posterior Lumbar Cage, thereby boosting the development of global spinal implants and surgical devices market.

The spinal implants and surgical devices market is bifurcated by type of surgery, product, and end-user. Based on product, the spinal implants and surgical devices market comprises spine biologics, spinal fusion devices, spinal bone stimulators, VCF (vertebral compression fracture) treatment devices, spinal decompression devices, and non-fusion devices. The spinal fusion devices of spinal implants and surgical devices market are additionally sub-divided into interbody fusion devices, thoracolumbar fixation devices, and cervical fixation devices. Pedicle screws, lumbar plates, hooks, rods, and others compose the thoracolumbar fixation devices sector in the spinal implants and surgical devices market.

The sub-segment for interbody fusion devices in spinal implants and surgical devices market comprises non-bone and bone fusion devices. Anterior cervical plates, hook fixation systems, screws, and others make up the sub-segment of cervical fixation devices in spinal implants and surgical devices market. The segment for non-fusion devices in spinal implants and surgical devices market comprises artificial discs, dynamic stabilization devices, annulus repair devices, and nuclear disc prostheses. The VCF treatment devices for spinal implants and surgical devices market are additionally sub-bifurcated into balloon kyphoplasty devices and vertebroplasty devices.

On the basis of surgery, the spinal implants and surgical devices market is divided into open spine surgery and minimally invasive spine surgery. Minimally invasive spine surgery is ruling the global market owing to rising demand and awareness for minimally invasive surgeries by the users. On the basis of end-user, spinal implants and surgical devices market comprises orthopedic centers, hospitals, and ambulatory surgical centers. The hospital section is expected to rile the global market, owing to the employment of technologically enhanced goods and the attendance of a huge patient pool in the hospitals.

The major players of the global spinal implants and surgical devices market are Pioneer Surgical, Stryker Corporation, Zimmer Biomet Holdings, Globus Medical, NuVasive Inc., Medtronic, DePuy Synthes, Alphatec Holdings, RTI Surgical Inc., and Orthofix International N.V.

North America is likely to rile the spinal implants and surgical devices market in the years to come, owing to the rising obese & geriatric population, rising requirement for minimally invasive spine surgeries, and increasing prevalence of spinal disorders & diseases. Additionally, Asia Pacific is also one of the regions where the global market is developing.

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