NEW YORK, June 7, 2022 /PRNewswire/ -- According to the market research report published by P&S Intelligence, in 2021, the global interbody spine implants market accounted for $1,904.8 million revenue, which is expected to touch $2,471.8 million by 2030, at a 2.9% CAGR. Advancements in spinal surgery technologies, increasing demand for spinal fusion devices owing to the rising prevalence of spinal ailments, fast acceptance of minimally invasive spine operations, and surging number of sophisticated bone-grafting product launches are the primary drivers for the market.
Market Opportunities
- Owing to the aging of the global population, there is a continuing demand for spinal implants, which drives spinal implant innovation. Metallic biomaterial implants, bioceramic implants, and polymeric implants have been developed for improved clinical results.
- Many companies offer products for advanced techniques, including oblique lateral interbody fusion (OLIF), robot-assisted spine surgery, and 3D printing, which offer several opportunities in the field of neurology drugs and surgeries.
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Metal-Based Implants Will Be in High Demand
In the coming years, metal-based implants are predicted to dominate the interbody spine implants market with more than 45% revenue share, growing at the highest rate. This might be because of the flexibility, robustness, and durability of these variants.
Market Driven by Growing Number of Spinal Disorder Cases
The number of people suffering from spinal ailments is on the rise all over the world. Scoliosis, degenerative disc disease, kyphosis, spondylolisthesis, and fractures are some of the most-common ailments treated with spine implants. Over 266 million people are diagnosed with lumbar degenerative spine disease each year, according to the National Library of Medicine.
Geographical Analysis
In the coming years, the APAC interbody spine implants market will advance with over 3.0% rate. India, China, Australia, South Korea, and Japan are the key revenue contributors to the market. This is due to the increasing awareness of spinal disorders and treatment options, a large patient pool, rising healthcare expenditure, and improving healthcare infrastructure.
Browse detailed report on Global Interbody Spine Implants Market Size, Growth and Development Forecast To 2030
North America dominates the interbody spine implants market owing to the deep penetration of spinal implants and a high volume of spinal fusion and non-fusion procedures. Furthermore, the regional industry is advancing due to the increasing incidence of spinal disorders, including disc herniation, spondylolisthesis, scoliosis, and spinal stenosis, as well as the increasing acceptance of advanced spinal implants in Canada and the U.S.
Key End User of Interbody Spine Implants Is Hospitals
Hospitals account for over 50% of the interbody spine implants market share because they execute large numbers of surgeries to treat a variety of spinal ailments. With their high-tech equipment and trained professionals, they are able to better combine orthopedics and neuroscience than other healthcare centers.
Key Players in Market Are:
- NuVasive Inc.
- Medtronic Plc
- Zimmer Biomet Holdings Inc.
- Stryker Corporation
- Johnson & Johnson
- Globus Medical Inc.
Interbody Spine Implants Market Segmentation Analysis
By Product Type
- Lumbar
- Cervical
By Material
- Metal
- PEEK
By End User
- Hospitals
- Specialty Orthopedic & Spine Centers
- ASCs
Regional Outlook
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- Saudi Arabia
- South Africa
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