Spinal Implants Market Will Grow to USD 12.56 Billion By 2032, at a CAGR of 5.3%

Spinal Implants Market Size Worth USD 12.56 Billion By 2032 | CAGR: 5.3%


The global spinal implants market size is expected to reach USD 12.56 Billion by 2032, according to a new study by Polaris Market Research. The report “Spinal Implants Market Share, Size, Trends, Industry Analysis Report, By Product Type (Spinal Fusion Devices, Non-Fusion Devices, Spine Biologics, Others); By Material; By Procedure; By End User; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The spinal implant industry is growing rapidly around the globe, mainly due to the increase in spinal disorders and technological advancements. The rising prevalence of spinal diseases such as degenerative disc disease, scoliosis, and spondylolisthesis is driving the market. These ailments are the primary drivers of the market. Moreover, the senior population's rise, who are more prone to spinal disorders, is also a contributing factor to the market's expansion. Furthermore, the development of new technologies, such as minimally invasive surgery and motion preservation devices, has led to a surge in demand for spinal implants.

Nevertheless, the expensive nature of these methods, as well as the need for remuneration in some countries, limits market growth. Furthermore, the risk of complications associated with spinal surgeries, as well as the availability of alternate treatments like physiotherapy and pain management medications, may limit market growth. Nonetheless, the market is expected to grow further due to increased awareness of spine health and the development of innovative products that meet the needs of patients.

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The rise in spinal disorders such as scoliosis, degenerative disc disease, and spondylolisthesis among both the young and aged populations is a significant factor driving the spinal implant market's expansion. The market is highly competitive, with several key players such as Stryker, Globus Medical, Medtronic, and Alphatec competing for market share. These companies are focusing on product innovation and expanding their product portfolios to stay ahead of the competition.

Spinal Implants Market Report Highlights

  • In 2023, the spinal fusion devices segment dominated the global spinal implant market owing to the high prevalence of spinal conditions such as degenerative disc disease, spondylolisthesis, and fractures.
  • The global spinal implant market is largely dominated by the metallic material segment, owing to its superior strength, durability, and biocompatibility properties.
  • The spinal implants market is expected to see a notable CAGR in the minimally invasive surgery segment over the forecast period. This is due to the advantages of minimally invasive surgeries, such as reduced tissue damage, lower blood loss, and quicker recovery times, in comparison to traditional open surgeries.
  • The market for spinal implants witnessed a surge in demand in the North American region in 2023. This can be attributed to the rising incidence of spinal injuries and disorders in the region, which has necessitated the adoption of advanced spinal implant technologies.
  • The global key market players include Alpla Group, Amcor Plc, Amerplast Ltd., Berry Global, Comar, Diversey, Essity, Glenroy, JohnsByrne, Kimberly Clark, Mondi Group, Napco National, Sidel, Sonoco Products Company, UMF Corp, WestRock, etc.

Polaris Market Research has segmented the spinal implants market report based on product type, form, structure, distribution channel, end-use industry, and region:

Spinal Implants, Product Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Spinal Fusion Devices
  • Thoracic Fusion & Lumbar Fusion Devices
  • Cervical Fusion Devices
  • Expandable Fusion Cages
  • Others
  • Non-Fusion Devices
  • Dynamic Stabilization Devices
  • Artificial Discs
  • Annulus Repair Devices
  • Nuclear Disc Prostheses
  • Others
  • Spine Biologics
  • Others

Spinal Implants, Material Outlook (Revenue - USD Billion, 2019 - 2032)

  • Metallic Material
  • Polymers Material
  • Ceramic Material
  • Others

Spinal Implants, Procedure Outlook (Revenue - USD Billion, 2019 - 2032)

  • Open Surgery
  • Minimally Invasive Surgery

Spinal Implants, End User Outlook (Revenue - USD Billion, 2019 - 2032)

  • Hospitals
  • Orthopedic Centers
  • Others

Spinal Implants, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Australia
  • Rest of APAC
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of MEA

Spinal Implants Market Report Scope

Report Attributes

Details

Market size value in 2023

USD 7.92 billion

Revenue Forecast in 2032

USD 12.56 billion

CAGR

5.3% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments Covered

By Product Type, By Material, By Procedure, By End User, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, regions, and segmentation.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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