Spinal Implants Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Spinal Implants Market: Snapshot
The increasing number of road and sports accidents worldwide and the rising cases of spinal injuries is considered the prime driver of the global spinal implants market. The advancement of gene therapy and increasing popularity of bone grafting and minimally invasive spine surgeries will also add boost to the overall growth of this market. Some researchers of the Rice University have grown new implants for implantation in patients with spinal string wounds that give electrical incitement. The new exploration examines the capacity to power and program multisite bio triggers utilizing a solitary transmitter. In the lab, the specialists showed a substituting attractive field produced and constrained by a battery-power transmitter outside the body, possibly worn on a belt or bridle, could convey force and programming to at least two implants that are in any event 2.3 inches away.
Quickly developing populace and fundamentally expansion in the treatment pace of degenerative spine problems are the key components driving interest in the worldwide spinal implants market. Changing the way of life that prompted the development of stoutness among the majority has additionally expanded development for spinal implants. Expanding spine wounds because of expanding sports exercises and different reasons are additionally profiting development in this market. Besides, the rising inclination for insignificantly obtrusive sicknesses is likewise expected to support interest for spinal implants.
Currently, the spinal implants run on battery and require replacement every few years. This may emerge as a challenging factor for the growth of the market. However, market manufacturers are investing both time and money on the development of 3D printed spinal implants that can heal bones, have a longer life span and at efficient prices. Geographically, the market is dominated by North America on account of the rising use of nanotechnology in the medical and pharmaceutical sector.
Global Spinal Implants Market: Overview
Rapidly growing population and significantly increase in the treatment rate of degenerative spine disorders are the key factors driving demand in the global spinal implants market. Changing the lifestyle that led to the growth of obesity among the masses has further augmented growth for spinal implants. Increasing spine injuries due to increasing sports activities and other reasons are also benefitting growth in this market. Moreover, the rising preference for minimally invasive diseases is also expected to boost demand for spinal implants.
The key categories in the global spinal implants market are likely to include procedure, material, and products. Based on the product type, the market is expected to be segmented into spinal fusion devices, vertebral Compression Fracture (VCF) treatment devices, spine biologics, non-fusion devices/motion preservation devices, spinal bone stimulators, and others. These segments are further segmented to gain a clearer insight into this market. In terms of procedure, the market is expected to be divided into minimally invasive surgery (MIS), open surgery, and others.
The report on the global spinal implants market is highly insightful and provides complete knowledge about the market to the key stakeholders. The information presented is gathered from various reliable sources and is been validated by using different statistical tools. Moreover, information in this report also helps the players to take better and well-informed decisions for their growth in the coming years.
Global Spinal Implants Market: Recent Developments
Development of new techniques to treat spinal injuries is the key growth potential in the global spinal implants market. Recently, Nexxt Spine developed 3D printed bone healing spinal implants. MTS Systems Corporation, a supplier of testing systems and simulations assisted Nexxt Spine in developing 3D spinal implants. Another example is of RTI Surgical that has recently deployed Fortilink Interbody Fusion (IBF) 3D printed implants. They are planning to test efficacy and safety of these plants on Degenerative Disc Disease (DDD) patients.
Global Spinal Implants Market: Trends and Opportunities
Development of new and effective technologies in spine care is likely to create a huge growth opportunity in the global spinal implants market. These developments are taking place because of 17,000 new cases of spinal cord injuries in the United States. The National Spinal Cord Injury Statistical Center presented this figure in 2016. Additionally, the data presented by the American Chiropractic Association shows that people suffering from lower back pain is nearly 31 million in the U.S. each year billions of money is spent on back pain treatment. Thus, with the growing spinal issues, the growth in the global spinal implants market is likely to increase significantly in the coming years.
Global Spinal Implants Market: Regional Outlook
On the regional front, developed economies in North America are projected to hold a higher share in the global spinal implants market. The increasing use of nanotechnology in the pharmaceutical sector, advancement in the manufacturing process, and technological innovation are the major factors fuel growth of spinal implants in North America.
On the other hand, Asia Pacific is also projected to contribute to the growth of this market in the coming years. Increasing investment in healthcare infrastructure and growing support of developing and advancing healthcare are likely to fuel growth in the global spinal implants market.
Some of the most prominent competitors operating in the competitive landscape of global spinal implants market include –
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