Global Spine Implants Market Segments
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%. The rising incidences of spinal disorders coupled with the usage of the minimally invasive surgical procedures are contributing to the growth of the global spinal implants market. However, the increased treatment procedural cost is acting as a hindrance to the global spinal implants market growth.
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.
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The global spine implants market is further segmented based on type and geography.
By Product: Spinal Fusion Devices, Non-Fusion Devices/Motion Preservation Devices, Vertebral Compression Fracture (VCF) Treatment Devices, Spinal Bone Stimulators, Spine Biologics
By Procedure: Open Surgery, Minimally Invasive Surgery (MIS)
By Material: Metallic, Polymeric, Ceramic
By End Use: Hospitals, Specialty Orthopedic And Spine Centers, Ambulatory Surgical Centers.
By Geography: The global spine implants market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American spine implants market accounts for the largest share in the global spine implants market.
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Trends In The Spine Implants Market
The innovation of implants in providing minimally invasive and motion-preserving stabilization is a major trend in the spine implants market.
Spine Implants Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides spine implants market overviews, analyzes and forecasts spine implants market size and growth for the global spine implants market, spine implants market share, spine implants market players, spine implants market size, spine implants market segments and geographies, spine implants market trends, spine implants market drivers and spine implants market restraints, spine implants market’s leading competitors’ revenues, profiles and market shares. The spine implants market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.