(EMAILWIRE.COM, July 03, 2019 ) According to the new market research report Spinal Implants Market is expected to reach USD 17.27 billion by 2021, growing at CAGR of 5.3% during the forecast period. Technological advancements in spine surgery devices, and increasing aging and obese population with increasing number of spine deformities, and rising demand for minimally invasive spine surgery procedures are the key factors fuelling the growth of the spinal surgery devices market.
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Motion preservation/non-fusion technology segment to grow at fastest rate during the forecast period.
On the basis of technology, the global spinal implants market is segmented into three categories, namely, spinal fusion and fixation, vertebral compression fracture treatment, spinal decompression, and motion preservation/non-fusion technologies. The motion preservation/non-fusion segment is expected to grow at the highest CAGR in the next five years, owing to the development of technologically advanced non-fusion devices and rising demand for minimally invasive surgical procedures among patients. The spinal fusion and fixation technology segment has been further divided into two categories, namely, fusion and fixation. The motion preservation/non-fusion technologies segment is further categorized into dynamic stabilization, artificial disc replacement, annulus repair, and disc nucleus replacement.
Based on the type of product, the spinal implants market is classified into seven segments, namely, thoracic fusion and lumbar fusion devices, cervical fusion devices, spine biologics, vertebral compression fracture treatment devices, non-fusion treatment devices, spinal decompression devices, and spine bone stimulators. The market has also been classified into open surgery and minimally invasive surgery, based on the type of surgery.
Asia Pacific regional segment is estimated to grow at fastest CAGR during the forecast period
As of 2016, North America held the largest share of the global spinal implants and surgical devices market, followed by Europe. However, Asia Pacific is estimated to grow at the highest CAGR from 2016 to 2021 owing to the increasing government healthcare expenditure, presence of a large patient population, and growing awareness about newly developed spine treatment techniques.
New product launches and product enhancements is the key growth strategy adopted by major players to sustain their positions in the global spinal implants market. Moreover, strategies such as partnerships, agreements, and collaborations; and acquisitions were also adopted by a significant number of market players to strengthen their product portfolios and expand their geographic presence in the market.
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Medtronic, plc (Ireland), DePuy Synthes (U.S.), Stryker Corporation (U.S.), NuVasive, Inc. (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Globus Medical, Inc. (U.S.), Alphatec Holdings, Inc. (U.S.), Orthofix International N.V. (Netherlands), K2M Group Holdings, Inc. (U.S.), and RTI Surgical, Inc. (U.S.) are some of the key players operating in the global spinal implants market

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