The spinal implants market is expected to grow at a CAGR of 5.34%

HYDERABAD, TELANGANA, INDIA, December 16, 2022 /EINPresswire.com/ -- Per the research report published by MarketDataForecast, the Spinal Implants Market is anticipated to be worth USD 20186 million by 2027, registering a CAGR of 5.34% from 2022-2027

Spinal implants are the devices used by the surgeon during surgery to treat spine-related problems. Surgical stabilization can be achieved either by the anterior or posterior approach. These spinal implants are used for disorders such as degenerative disc disease, scoliosis, kyphosis, and fracture. Spinal implants are made of stainless steel and titanium and are available in different sizes.

Increasing incidence of spinal disorders and increasing advancement in spinal implant surgeries.

Every year, around 250 000 to 500 000 people suffer a spinal cord injury worldwide. Most of these injuries are due to road accidents and falls. People with severe spine injuries may also lead to losing their life. The increase in the older population also demands market growth. Older people have spinal disorders such as spinal stenosis, spondylolisthesis, and vertebral compression fractures, which require spinal surgery to reduce the problem.
Many researchers are focusing on developing a different type of spinal implant with a high quality that increases the life of the patients who undergo surgery. In addition, advancement in biomaterial development and computer-assisted and image guide technology in spinal implant devices gives more demand to the market.

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The availability of different types of technology for the surgery of spinal disorders supports the technology segment.

The technology segment is divided into spinal fusion and fixation technologies, vertebral compression fracture treatment, motion preservation/Nonfusion technologies, and spinal decompression. The motion preservation / nonfusion technologies segment has the highest market share. Motion preservation is a minimally invasive procedure that reduces the pain and the recovery time and gives the spine movement in less time. Due to this, most people are adopting this procedure which drives the segment growth forward.

The availability of different types of devices for every spinal disorder supports the product segment.

The product segment is divided into thoracic fusion, lumbar fusion devices, and others. The thoracic fusion segment has the highest market share. Video-assisted thoracoscopic surgery was developed for thoracic cavity and thoracic spine surgery. Video-assisted thoracoscopic surgery is used to treat a variety of thoracic spine diseases.

Regional Outlook of the Spinal Implants Market

North American spinal implant market has the highest market share due to the increasing presence of key players and research centers in spinal implant devices. As a result, the North American spinal implant market was valued at USD 7768.40 million in 2022 and is expected to grow with a CARG of 5.32% and rise to USD 10066.67 million by 2027.

Asia Pacific is in the second position in the market share due to increasing awareness about spinal implant surgeries and increasing healthcare expenditures by the population. Asia Pacific spinal implants market was valued at USD 3159.89 million in 2022 and is predicted to reach USD 4214.70 million by 2027 with a CAGR of 5.93%. India and China have the largest market share in the region.

Europe's spinal implant market was valued at USD 3145.47 million in 2022 and is expected to grow with a CAGR of 5.73% and to raise USD 4156.01 million by 2027. Some factors, such as increasing government investments and reimbursement policies, drive the market forward in Germany.
The Latin American spinal implant market was valued at USD 1167 million in 2022 and is expected to grow to USD 1459.17 million by 2027 with a CAGR of 4.57%.

The Middle East Africa market has grown with a CAGR of 2.82% during the forecast period.

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Key Players in the Spinal Implants Market

Medtronic, Zimmer Biomet, RTI Surgical, Alphatec Spine Inc., Stryker, Globus Medical, Integra LifeSciences, Life Spine Inc., Aesculap Inc., Apollo Hospitals Enterprise Ltd., NuVasive Inc., Premia Spine are Some of the market's key players

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