Spine Implants Global Market estimated to be worth $18,111.7 million by 2022
Spine implant devices are used for the treatment of congenital spine disorders and disorders of the spine that develop due to ageing and injury. Prevalence of spine diseases and disorders due to the ageing population, technological advancement and growing healthcare expenditure and demand for minimally invasive surgery are driving market growth. However, strict regulatory requirements with the high cost of device development, lack of patient awareness and primary healthcare infrastructure in developing countries, high cost associated with the device and procedure are hindering the growth of the market. The lack of properly trained professional who could use the advanced surgical instruments is severely affecting the development of the market. According to World Health Organization (WHO), the global population of over 60 years is estimated to increase from 12% of the overall population in 2015 to about 22% by 2050 increasing the number of people with some form of spinal disorders. This projected increase in the old aged patient population provides an opportunity for medical devices companies to come up with effective implants and treatment techniques.
Spine surgery is commonly performed as open surgery with a long incision in the operative site to view and access the spinal anatomy. Since, open spine surgery results in considerable amount of trauma and requires long recovery periods; minimally invasive spine surgery is preferred over open surgery. Minimally invasive technology which offers advantage such as less trauma, cost effectiveness and quick post-operative recovery period has emerged as front runner in spine disease treatment. The types of surgery performed on spine are fusion, nonfusion and vertebral compression fracture (VCF) surgery and all these surgery includes use of biologics.
Spinal fusion is a surgical implant procedure where two or more spinal vertebrae are fused together to restrict movement and provide stability to the spine. The disadvantages such as Pseudarthrosis, restricted movement, loss of proper spinal curvature can be overcome by non-fusion spine implants. Non-fusion implants have become exciting areas in today’s spine surgery world, as these implants can be implanted in order to treat various spine conditions. Non-fusion implants have increased the level of preservation in terms of movement and enhanced flexibility which is considered to be lost in fusion techniques/procedures. The major advantages of non-fusion devices over fusion devices are spinal flexibility, elimination of pseudoarthrosis, reduction of adjacent level degeneration.
The spine implant devices global market is segmented into fusion, non-fusion, VCF and biologics implants based on the type. The fusion devices market is sub segmented into Interbody fusion devices, Plate fixation systems, and screw and rod fixation systems. The non-fusion devices are classified into dynamic stabilisation systems, artificial disc implants, nucleus replacement and annulus repair. The vertebral compression fracture (VFC) is segmented into Vertebroplasty and Kyphoplasty. While, that of biologics are classified into Spinal Bone grafts, Spinal Bone graft substitutes, and Bone stimulators. Hospitals, consisting of public funded and private for profit are the end-users. Among these, public hospital accounts for largest share and is growing strongly at a CAGR of 6.6%.
The spine implant devices global market based on geography is divided into North America, Europe, Asia-Pacific and Rest of the world. North American region commanded the largest revenue market by growing at a CAGR of 6.6%. Favourable reimbursement coverage and high investments in healthcare infrastructures have led the market growth in this region. However, Asia- Pacific region is expected to grow at the highest CAGR of 8.2% from 2015 to 2022 due to increased healthcare awareness, improved economic growth and increasing government funds, increasing trends of medical tourism, large patient pool and rising aged population with increased surgeries.
Stryker, Medtronic, Nuvasive, Depuy Synthes, Globus Medical, B.Braun, Zimmer-Biomet, Orthofix, K2M, Alphatec spine, LDR Holdings, and Exatech are some of the companies that play a major role in manufacturing spine implant devices. Medtronic accounts for the major spine implant market share followed by DePuy Synthes (J&J) and Nuvasive.