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Global Spinal Implants Market Soaring at 5% CAGR by 2028

Date: January 09, 2023 Ashwin Naphade Ashwin Naphade
Global Spinal Implants Market Soaring at 5% CAGR by 2028

Expert researchers claim that global spinal implants market is anticipated to record a moderate CAGR of 5% during 2022-2028, and subsequently amass a sustainable valuation by the end of the forecast period.

Notable advancements in spine surgery technologies and growing prevalence of spinal disorders are the crucial factors maximizing global spinal implants market remuneration.

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In addition, burgeoning inclination toward minimally invasive surgeries in tandem with penetration of innovative & advanced bone grafting products are likely to unearth promising avenues for market expansion in the coming years.

For instance, WHO recently revealed in its statistics that spinal cord injury is a case of concern as these incidences have increased from 60 to 80 cases per year.

Despite the promising outlook, stringent regulatory framework and the expensive nature of spinal cord surgeries are some of the glaring challenges that industry players may have to overcome during the analysis timeline.  

Moving on to segmentation, based on product type, the spinal fusion implant segment of worldwide spinal implants industry is slated to accrue a substantial remuneration during 2022-2028, owing to rapid integration of Artificial Intelligence (AI) in several spinal implant surgical procedures to improve their efficiency and reliability.

In terms of application, the thoracic fusion segment is anticipated to showcase remunerative growth in the forthcoming years, ascribed to increasing prevalence of spinal cord surgeries.

From a regional frame of reference, Asia Pacific is anticipated to contribute substantially to overall market revenue during the analysis timeframe, attributable to improving healthcare infrastructure, enhancements in reimbursement policies, and rapidly improving cognizance regarding the latest spinal implant technologies in the region.

Meanwhile, North American market is anticipated to maintain its dominance throughout the forecast timeframe, attributable to increasing prevalence of spinal cord surgeries, escalating aging population, and rise in the volume of procedures across the region.

Considering the competitive framework, NuVasive Inc., Stryker Corporation, B. Braun Melsungen AG, Orthofix Medical Inc., Ulrich GmbH & Co. KG, Surgalign Spine Technologies Inc., SeaSpine Orthopedics Corporation, Meditech Spine LLC, Spineart S.A., Zimmer Biomet Holdings Inc., Medtronic plc, Implanet S.A., ATEC Spine Inc., Aesculap Inc., and Johnson & Johnson are the major players influencing global spinal implants industry trends.

Questions and Answers: - Global spinal implants market

Question 1. What are the major factors driving global spinal implants market trends?

Answer 1. Notable advancements in spine surgery technologies and growing prevalence of spinal disorders are the major factors driving global spinal implants market trends.

Question 2. How is Asia Pacific contributing to global spinal implants market revenue?

Answer 2. Improving healthcare infrastructure, enhancements in reimbursement policies, and rapidly improving cognizance regarding the latest spinal implant technologies is impelling the demand for spinal implants in Asia Pacific, thereby contributing to overall market.

Question 3. Which are the key players influencing global spinal implants market dynamics?

Answer 3. NuVasive Inc., Stryker Corporation, B. Braun Melsungen AG, Orthofix Medical Inc., Ulrich GmbH & Co. KG, Surgalign Spine Technologies Inc., SeaSpine Orthopedics Corporation, Meditech Spine LLC, Spineart S.A., Zimmer Biomet Holdings Inc., Medtronic plc, Implanet S.A., ATEC Spine Inc., Aesculap Inc., and Johnson & Johnson are the major players influencing global spinal implants market trends.

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Ashwin Naphade

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interests also cover the game of cricket (seeing as well as playing) and movies ( a typical bollywood buff).