TBRC’s market research report covers spine implants market size, spine implants market forecasts, major spine implants companies and their market share, key strategies to undertake, and more.
LONDON, May 25, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the spine implants market, 3D printing technologies have become increasingly prevalent in the healthcare industry as a treatment procedure to enhance the speed and effectiveness of joint surgery. Major companies such as Stryker, Johnson & Johnson, and Zimmer have launched implants that use 3D printing technology, enabling customized surgery for patients. This is done by developing the required components used in the surgery through the use of a patient’s X-ray images or CT scan, enabling a highly customized implant, thereby reducing the risk of a wrong fit.
For instance, in 2018, the FDA approved Stryker Corporation’s Tritanium® TL Curved Posterior Lumbar Cage, which uses a 3D-printed interbody fusion cage that acts as a support during lumbar fixation surgery. The Tritanium TL Curved Posterior Lumbar Cage is a hollow implant that consists of both solid and porous structures, built simultaneously using AMagine, an approach to implant creation using additive manufacturing and 3D printing. Also in 2017, ConforMIS, a medical technology company that develops and sells joint replacement implants, announced clearance from the FDA for its iTotal Hip System, which comprises single-use technology and 3D-printed instruments to provide customized hip replacement to patients.
The global spine implants market size is expected to grow from $10.50 billion in 2021 to $11.32 billion in 2022 at a compound annual growth rate (CAGR) of 7.9%. The global spine implant market share is expected to grow to $15.77 billion in 2026 at a CAGR of 8.6%.
Changes in lifestyles, such as changes in working practices and performance pressures at the workplace, are increasing people’s proneness to acute spinal problems. The rise in sedentary jobs and changing consumer preferences have affected the disease profile of the world population. Long working hours with less physical activity due to working on a computer or writing at desks results in a forward head position and rounded shoulder posture — aka “poor posture syndrome” — that may result in spinal problems. According to the World Health Organization (WHO), 60 to 85% of people in the world — from both developed and developing countries — lead sedentary lifestyles. Further, according to a study in India by Apollo in 2021, there has been a 60% rise in spinal problems among the youth, causing every fifth Indian in the age group of 20–30 to suffer from various types of spinal ailments. Thus, changes in lifestyle factors are increasing the patient pool globally and driving the spinal implant materials market.
Major players in the spine implants market are Medtronic, Depuy Synthes, Johnson & Johnson, Stryker Corporation, NuVasive, Inc., Zimmer Biomet Holdings, Globus Medical, Alphatec Holdings, Orthofix International, and RTI Surgical.
The global spine implants market is segmented by product into spinal fusion devices, non-fusion devices/motion preservation devices, Vertebral Compression Fracture (VCF) treatment devices, spinal bone stimulators, spine biologics; by procedure into open surgery, Minimally Invasive Surgery (MIS); by material into metallic, polymeric, ceramic; by end-use into hospitals, specialty orthopedic and spine centers, ambulatory surgical centers.
North America was the largest region in the global spine implants market in 2021. The fastest growing regions in the spine implants market will be Asia-Pacific and Western Europe. The regions covered in the global spinal implants and devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Spine Implants Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide spine implants market overviews, analyze and forecast market size and growth for the whole market, spine implants market segments and geographies, spine implants market trends, spine implants market drivers, spine implants market restraints, spine implants market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
The spine implants market research report is one of a series of new reports from The Business Research Company that provides spine implants market statistics, including spine implants industry global market size, regional shares, competitors with a spine implants market share, detailed spine implants market segments, market trends and opportunities, and any further data you may need to thrive in the spine implants industry. This spine implants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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