The market for spine implants consists of sales of inserts used in the spinal surgery. Spine implants are the devices used to correct the deformity in the spine, stabilize and strengthen the spine and facilitate fusion of bones in different disorders such as degenerative disc disease, kyphosis, scoliosis, spondylolisthesis, spinal stenosis and fracture. The market consists of revenue generated by the companies manufacturing spine implants by the sales of these products.
The global spine implants market is expected to decline from $12.44 billion in 2019 to $11.83 billion in 2020 at a compound annual growth rate (CAGR) of -4.92%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The outbreak decreased the demand for spine implants as the treatments for spinal problems were on hold to serve the COVID patients, impacting the market negatively. The market is then expected to recover and reach $13.81 billion in 2023 at a CAGR of 5.31%.
