Dublin, April 24, 2023 (GLOBE NEWSWIRE) -- The "Spinal Implant Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Product Type, By Application, By Material, By Surgery, By Indication, By Region and Competition" report has been added to ResearchAndMarkets.com's offering.
The Global Spinal Implant market is anticipated to witness impressive growth during the forecast period.
Companies Mentioned
- Medtronic Plc
- Johnson & Johnson.
- Zimmer Biomet, Inc
- Stryker Corporation
- NuVasive, Inc.
- Alphatec Holdings, Inc.
- Surgalign Holdings, Inc.
- B. Braun Melsungen AG
- SeaSpine Holdings Corporation.
- Globus Medical Inc.
The growth can be ascribed to the high demand owing to the deteriorating condition of patients due to bad posture, lifestyle changes, and lack of exercise and flexibility, amongst others, across the globe.
Additionally, the growing incidence of spinal disorders such as tumors, hematoma, vertebral fractures, degenerative disc diseases, spinal stenosis, etc., is expected to create significant growth during the forecast period. Similarly, growing investment by government organizations in the research and development of spinal disorders for developing new therapy and devices will further drive the growth of the market during the forecast period.
According to Clinicaltrials.gov, 987 studies have been found for the spinal implant, and among these studies, 139 studies have been found related to child spinal implants. Also, the use of bioabsorbable spinal implants is most important for spinal reconstructive procedures with better image assessment and fusion healing properties, which will further drive the growth of the market over the years.
According to the World Health Organization (WHO) data, approximately 250,000 and 500,000 Spinal Cord Injury cases occur every year across the world.
The Rise in Incidence of Traumatic Fractures
Growing incidence of traffic accidents, sports injuries, or any other accidental falls will further boost the market growth during the forecast period. According to the National Center for Biotechnology Information (NCBI), the lumbosacral spine is the most common region which is affected due to car accidents.
This, in turn, is expected to enhance the demand for spinal implants, which will boost the market growth over the years. According to the NCBI, approximately 75% of SCI cases due to falls occur in people aged 76 and older. The growing incidence of spinal disorders due to current demographic changes, such as the growing aging population, and lifestyle-related factors, such as increasing back problems, will propel the growth of the market growth during the forecast period.
Additionally, burgeoning demand for minimally invasive spinal surgical procedures owing to the advantages such as smaller incisions, less muscle damage, decreased blood loss, and length of hospital stay following surgery in comparison to the standard operating procedure will also contribute to the global spinal implant market growth during the forecast period. According to the National Spinal Cord Injury Statistical Center 2018, the annual incidence of spinal cord injury (SCI) is approximately 54 cases per one million or about 17,700 new SCI cases each year in the United States.
Growing Demand for Advanced Technologies
The market is propelling due to the growing demand for advanced technologies by major players acquiring potential start-ups and mid-sized players to increase their dominance in the industry during the forecast period. Moreover, product approvals in developing regions will further contribute to the growth of the global spinal implant market during the forecast periods.
Report Scope:
In this report, the global spinal implants market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
Spinal Implants Market, By Product Type:
- Artificial Discs
- Dynamic Stabilization Devices
- Spinal Fusion Implants
- Others
Spinal Implants Market, By Application:
- Cervical
- Thoracic
- Lumber
Spinal Implants Market, By Material:
- Stainless Steel
- Titanium
- Cobalt Chrome
- Polyetheretherketone (PEEK)
- Others
Spinal Implants Market, By Surgery:
- Open Surgery
- Minimally Invasive Surgery
Spinal Implants Market, By Indication:
- Spinal Trauma
- Deformity
For more information about this report visit https://www.researchandmarkets.com/r/7f552
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