The spinal implants and devices market is experiencing growth due to increasing demand for laminectomy procedures as well as an aging population and advancements in medical technology. Companies in this dynamic and highly competitive industry must stay informed of emerging trends and opportunities to drive success. SkyQuest’s report provides valuable insights and recommendations for companies seeking to expand their presence in the market. Meanwhile, Companion Spine has closed a $60.1 million funding round to further the development of the company’s proprietary spine treatment technologies. The report also poses key questions that the global market should address, including how top companies are adapting their marketing strategies to appeal to different demographics and international audiences and what new trends or emerging technologies are expected to impact the market. Finally, SkyQuest Technology provides growth consulting services to 450+ clients globally, including market intelligence, commercialization, and technology services.
Spinal Implants and Devices Market to Reach USD 14.87 Billion by 2030 with a 2.63% CAGR from 2022-2030, Fueled by Rising Demand for Outpatient Surgeries and Increasing Healthcare Expenditure
According to a recent report by market research firm SkyQuest, the global spinal implants and devices market is expected to grow significantly, with the Asia Pacific region leading the way followed by North America. The rising prevalence of spinal disorders and the adoption of minimally invasive spinal surgeries are the primary drivers of regional growth. Sedentary lifestyles and busy schedules have led to increased occurrences of obesity, back pain, posture-related problems, and other degenerative spinal conditions, resulting in a surge in demand for spinal implants and devices. Technological advancements have also played a crucial role in the market’s expansion, including the development of advanced bone grafting products, leading to improved success rates of spinal fusion surgeries. The use of more durable materials than metal has also contributed to the development of long-lasting spinal implants and devices, decreasing the need for revision surgeries.
SkyQuest’s research indicates that annually, between 300,000 and 550,000 individuals worldwide suffer from spinal cord injuries. In the United States alone, there are approximately 18,500 new spinal cord injury cases each year. As a result, about 290,000 individuals with spinal cord injuries require ongoing care and support, representing a significant patient population that can benefit from the spinal implants and devices market.
The spinal implants and devices market report by SkyQuest comprises 244 pages, 119 tables, and 76 figures, providing an in-depth analysis of the market. Additionally, individuals can request a sample copy of the report through the link provided above.
Spinal Implants and Devices Market Booming with Open Surgery Segment Leading the Way, Projected to Reach USD 14.87 Billion by 2030
Spinal implants and devices are specialized medical instruments that are surgically implanted into the spine to provide support and stability to patients with spinal conditions. Common conditions treated with spinal implants include degenerative disc disease, spinal stenosis, herniated discs, and scoliosis. The type of implant used depends on the patient’s condition and symptom severity, with some cases requiring multiple devices.
The spinal implants and devices market is experiencing rapid growth, with the open surgery segment registering the fastest growth in 2021. This trend is expected to continue from 2022 to 2030, fueled by technological advancements, increasing demand for minimally invasive surgical (MIS) procedures, and a rising prevalence of spinal disorders. The laminectomy segment is expected to register significant growth, driven by a large patient population and a wide range of indications.
Prominent players in the spinal implants and devices market include Medtronic, Exactech, Inc., Integra LifeSciences, Stryker Corporation, Zimmer Biomet, Orthoflix Medical Inc., Globus Medical, Wenzel Spine, Abbott, Tecomet, Inc., XTANT Medical, Jayon Implants, Captiva Spine, Inc., GPC Medical Ltd., SINTX Technologies, Inc., and Spine Wave, Inc.
The Asia Pacific region is expected to remain the major spinal implants and devices market through 2030, with continued growth driven by factors such as the aging population, rising healthcare expenditure, and increasing adoption of MIS techniques. As the region develops and expands, we will likely see even more innovation and investment in the market, making it an exciting and dynamic area for healthcare professionals, researchers, and manufacturers alike.
For those interested in an in-depth analysis of the spinal implants and devices market, the report and complete Table of Contents (ToC) can be found through the link provided above. With the future looking bright for the spinal implants and devices industry, innovations and developments promise to improve patient outcomes and quality of life.
Laminectomy Segment Drives Growth in Spinal Implants and Devices Market with North America Expected to Remain Positive by 2030
The laminectomy segment of the spinal implants and devices market emerged as a key revenue generator in 2021, with the trend expected to continue in the coming years. The growing prevalence of spinal disorders, such as degenerative disc disease and spinal stenosis, has increased the demand for laminectomy procedures. The availability of a wide range of spinal implants and devices, including interbody fusion devices, artificial discs, and spinal cord stimulators, also contributes to the growth of the laminectomy segment.
The North American spinal implants and devices market is expected to remain in a positive zone by 2030. The growing aging population, advancements in medical technology, and an increase in the number of patients seeking treatment for spinal disorders all contribute to this market’s growth. As a result, spinal implants and devices industry companies are investing heavily in research and development to develop new and innovative products to meet the growing demand for these devices.
The spinal implants and devices market is highly competitive and dynamic, with companies investing heavily in research and development to stay ahead of the curve. SkyQuest’s report provides valuable insights and recommendations for companies seeking to expand their presence in the market. Those looking for custom requirements may speak with an analyst for tailored solutions.
Key Developments in the Spinal Implants and Devices Market
OC Spine, a leading medical device company, has launched the Focus Interbody System. This system features xCELLerate technology, designed to promote faster and more efficient fusion of spinal bones, resulting in improved patient outcomes. FloSpine, a leading manufacturer of spinal implants, has received clearance from the US Food and Drug Administration (FDA) for its innovative 3D-printed spinal implant. The implant is designed to provide patients with a customized solution for spinal fusion surgeries, improving outcomes and reducing recovery times.
These key developments showcase the constant advancements in technology and innovation in the spinal implants and devices market. As the market continues to evolve and grow, these developments offer hope for improved patient outcomes and quality of life.
Companion Spine, a medical technology startup that focuses on developing innovative treatments for spinal conditions, has successfully raised $60.1 million in a Series A funding round. The company plans to use the funding to further advance the development of its proprietary spine treatment technologies.
The Spinal Implants and Devices Market Report, published by SkyQuest, provides valuable insights and recommendations for companies seeking to expand their presence in the market. The report answers important questions, such as how top companies have adapted their marketing strategies to appeal to different demographics or international audiences, and what impact this has had on their success. It also explores new trends and emerging technologies expected to impact the global market in the coming years.
The laminectomy segment emerged as a key revenue generator in the spinal implants and devices market in 2021, with demand for laminectomy procedures increasing due to the growing prevalence of spinal disorders, such as degenerative disc disease and spinal stenosis. The availability of a wide range of spinal implants and devices, such as interbody fusion devices, artificial discs, and spinal cord stimulators, also contributes to the growth of the laminectomy segment.
The North American spinal implants and devices market is expected to remain in a positive zone through 2030, thanks to the growing aging population, advancements in medical technology, and an increase in the number of patients seeking treatment for spinal disorders. To keep up with demand, spinal implants and devices industry companies are investing heavily in research and development to develop new and innovative products.
SkyQuest Technology is a leading growth consulting firm that provides market intelligence, commercialization, and technology services. The company has over 450 clients worldwide and is located in Westford, Massachusetts. For more information on the Spinal Implants and Devices Market Report or to speak with an analyst, visit their website.
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