The Global Spine Implants Market to Reach Revenues of Around $12 Billion by 2024- Market Research Report by Arizton

CHICAGO, Sept. 17, 2019 /PRNewswire/ --  According to Arizton's recent research report Spine Implants Market – Global Outlook and Forecast 2019-2024, the global spine implants market is expected to reach over $12 billion by 2024, growing at a CAGR of more than 3% during the forecast period.

Key Highlights Offered in the Report:

1. 3D printed spine implants are gaining widespread attention and popularity as they offer multiple benefits, ranging from designing custom-fit implants, usage of additive manufacturing technology, allowing personalization of porosity and pore size to increased peri-implant osteogenesis and ingrowth. Therefore, the growing demand for such innovative spine implants is expected to drive the market worldwide.
2. Motion preservation segment is witnessing the fastest growth compared to other product types and is likely to grow at an absolute growth of around 92% during the forecast period
3. APAC is likely to grow at the fastest rate, recording the absolute growth (49%) during the forecast period.
4. India and China are likely to witness higher absolute growth rates of 54% and 51%, respectively, in the global spine implants market.
5. Within MedTech industry, spine implants market continues to dominate with multiple M&A activities. The global spine implants market has been witnessing significant acquisitions over the last decade. In 2018, the market witnessed the two largest acquisitions with an estimated value of around $3.1 billion.

Key Offerings:

• Market Size & Forecast by Revenue| 2018−2024
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis of the market by products, surgery, end-users, and geography.
• Competitive Landscape – Profile of 6 key vendors and 38 other vendors.

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Spine Implants Devices Market – Segmentation

• The research report includes detailed market segmentation by products, end-users, surgery, and geography.
• The spinal non-fusion implants segment is expected to grow at the highest CAGR of over 11% during the forecast period. The shift to non-fusion procedures from other minimally invasive and spine fusion procedures for treating a wide range of spine pathologies is expected to drive the market. Approximately, 15−20% of spine surgeries involve non-fusion techniques globally.
• In 2018, the hospitals accounted for a share of over 50% in the global spine implants market. The growth in the elderly population, changes in lifestyle patterns, and the prevalence of spinal disorders are the major factors contributing to the increasing volume of spine surgeries in hospitals.

Market Segmentation by Products

• Spinal Fusion Implants
• Spine Biologics
• VCF Treatment Devices
• Spinal Non-Fusion Implants
• Spine Bone Growth Electrical Stimulation Devices

Market Segmentation by End-users

• Hospitals
• Specialty Orthopedic and Spine Centers
• Ambulatory Surgical Centers (ASCs)

Market Segmentation by Surgery

• Open Spine Surgeries
• MI Spine Surgeries

Market Segmentation by Geography

• North America
• Europe
• MEA
• APAC
• Latin America

Spine Implants Devices Market– Dynamics

The use of bioresorbable spine implants presents a novel approach for the treatment of several spine disorders/ailments. Bioabsorbable materials play a significant role in specific spinal reconstructive procedures with improved image assessment and fusion healing properties. Their time-engineered resorption properties enable controlled dynamization in interbody and plate applications.

Key Drivers and Trends Fueling Market Growth:

• Growing Demand for MI Spine Surgeries
• Availability of several Innovative Spine Implants
• Emergence of 3-D Printed and Custom Fit Spine Implants
• High Demand for Next Generation Spine Implants

Spine Implants Market–Geography

North America accounted for the highest share in the global spine implants market in 2018. Although North America is expected to retain its dominance during the forecast period, the market is likely to grow at a slower CAGR. APAC is the second major market for spine implants. Japan, China, India, South Korea, and Australia are the major revenue contributors in APAC. These countries are witnessing higher growth than countries such as the US, Germany, France, the UK, and Spain. APAC is likely to offer lucrative opportunities for spine implant vendors due to the presence of a large patient population.

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Market Segmentation by Geography

• North America
• US
• Canada
• Europe
• France
• Germany
• UK
• Spain
• Italy
• APAC
• China
• Japan
• Australia
• India
• South Korea
• Latin America
• Brazil
• Mexico
• MEA
• Turkey
• Saudi Arabia
• South Africa
• Iran

Major Vendors

• Medtronic
• Johnson & Johnson
• Stryker
• NuVasive
• Globus Medical
• Zimmer Biomet

Other vendors include ARCA-MEDICA, Artrofiks, Alphatec Spine, A-SPINE, Biorthex, Captiva Spine, CarboFix Orthopedics, Camber Spine, Corentec, CTL Amedica, Centinel Spine, CoreLink, FH ORTHO, iSpine, LfC, Life Spine, Maxxspine Deutschland, Medacta International, Medicrea, Meditech Spine, medyssey, MicroPort Scientific, Neuro France Implants, Orthofix, OsteoMed, Paradigm Spine, Precision Spine, Premia Spine, RD Medical, RTI Surgical, S14 IMPLANTS, Safe Orthopedics, SeaSpine, SI-BONE, SIGNUSMedizintechnik, Spinal Elements, Spinal Kinetics, Spine Wave, Spineart, SpineCraft, Spineology, Spineway, TAEYEON Medical, TranS1, Tria Spine, TST, ulrich medical, Wenzel Spine, Zavation, Z-Medical and, ZygoFix.

Explore our healthcare and life sciences profiles to know more about the industry.

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