Spinal implants market to exceed US$19.5 billion by 2024

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The global spinal implants market is forecast to grow at a 7% compound annual growth rate to exceed US$19.5 billion by 2024, according to a recent Market Research Engine report.

The growth of bioresorbable implants is expected to propel the spinal implants market forward. The report states: “The present advancement of bio-resorbable inserts that naturally leave the body as the patient recoups is anticipated to accelerate the development of the spine implant market. Spinal inserts are utilised to remedy disfigurements, reinforce the spine, and encourage combination. A portion of the significant conditions that require spine implants are interminable degenerative disc illness, spondylolisthesis, scoliosis, awful crack, and different types of spinal hazards.”

According to the authors, one of the key drivers of the spinal implant market is the escalation of the geriatric population susceptible to spinal ailments. It is well established that the world’s population is ageing: virtually every country in the world is experiencing growth in the number and proportion of older persons in their population, according to the United Nations. Data from World Population Prospects: the 2017 Revision reveal that the number of people aged 60 years or over is expected to more than double by 2050 and to more than triple by 2100, rising from 962 million globally in 2017 to 2.1 billion in 2050 and 3.1 billion in 2100. Globally, population aged 60 or over is growing faster than all younger age groups. This adds a burden to spinal cords: an increase in elderly people means a concordant increase in the incidence of age-related degenerative diseases such as osteoporosis.

Additionally, the number of traumatic spinal cord injuries from low falls in the elderly are increasing in the majority of countries with ageing populations. This contributes to the second driver of market growth highlighted in the report: the raised rate of spinal cord injuries and disorders. A 2017 paper estimated that the proportion of traumatic spinal cord injury from land transport is decreasing or stable in developed nations, but is increasing in developing countries due to trends in transport mode (transition to motorised transport), poor infrastructure and regulatory challenges.

First author Bon Lee (Spinal Medicine Department, Prince of Wales Hospital; Neuroscience Research Australia, University of New South Wales, both Sydney, Australia) and colleagues wrote: “The proportion of traumatic spinal cord injuries resulting from land transport (four-wheeled vehicles) is stable or decreasing in developed countries, but on the increase in developing countries. The relatively smaller proportion of traumatic spinal cord injury due to land transport in developing countries belies the extent of the problem, owing to the growing number of people being (preventably) injured and poorer survival to hospital.”

A third cause for the expected expansion of the spinal implant market is the increasing use of recent technologies in spinal devices. One of the most promising areas for growth is robotic-assisted surgery in spine procedures. Medtronic recently acquired Mazor Robotics, following its stint as the exclusive worldwide distributor of the Mazor X system over the last year. To date, more than 80 Mazor X systems have been installed since launch. The use of robotics in spine surgery necessitates the integrated use of other technologies, such as pre-surgical planning software, a robotic arm, intraoperative 3D imaging, navigation, and powered instruments. As well as Medtronic’s Mazor offering, Stryker, Zimmer-Biomet, and Globus Medical all have their own robots. Globus has the ExcelsiusGPS robotic system, Stryker sells the Mako, and Zimmer-Biomet owns the Rosa Spine.

A fourth contributing factor to the forecast growth in the spinal implants market is the huge demand for surgery, due to quicker recovery times and lesser discomfort than in previous years.

However, the report also lists a number of restraining factors acting on the global spinal implants market. These include: absence of proper diet and exercise and the resultant decline in bone density; scarcity on the emerging and low-income economies; growing prevalence of postural defects; and monetary concerns affect the market growth.

The report lists the following companies as key players in the global spinal implants market (note this is not an exhaustive list):

  • Medtronic
  • DePuy Synthes
  • Stryker
  • NuVasive
  • Zimmer Biomet
  • Globus Medical
  • Orthofix
  • LDR Holding

1 COMMENT

  1. Many cases of scoliosis mamy not require surgical intervention if anyone is looking for infromation on nonsurgical alternatives you might want to look into schroth physiotherapy, it’s a non-surgical form of treatment that stops curve progression and helps to correct spinal curvature. Always consult with a doctor before starting treatment but I’m going to include 2 links that might be helpful to people looking for more info research the first is to an article from scoliosis care centers that explains what schroth physiotherapy much better than I can https://scoliosiscarecenters.com/schroth-physiotherapy/
    And the next link I am posting is for a study that supports that schroth physiotherapy improves spinal curvature https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3847831/ it’s a peer reviewed study and it’s from a reliable source. Overall just do your research scoliosis care centers specializes in nonsurgical scoliosis treatment so there are many more articles on there an alternative treatment forms.

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