Intervertebral Implants Market
Number of pages: 100 | Report Format: PDF | Published date: May 24, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 1.52 billion |
|
Revenue Forecast in 2031 |
US$ 2.62 billion |
|
CAGR |
5.6% |
|
Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Type, Material, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global intervertebral implants market was valued at US$ 1.52 billion in 2022 and is expected to register a revenue CAGR of 5.6% to reach US$ 2.62 billion by 2031.
Intervertebral Implants Market Fundamentals
Intervertebral implants are medical devices used in spinal surgery to replace or stabilize damaged intervertebral discs, which are the soft cushions between the vertebrae of the spine. These implants are designed to maintain proper spacing and alignment of the vertebrae, alleviate pain, and restore stability and mobility to the spine. They can be made of various materials such as metal, ceramic, or polymer and are available in different shapes and sizes to suit individual patient needs.
The global intervertebral implants industry analysis report comprehensively analyzes the market, with the factors that either aid or impede the market growth, such as its drivers, restraints, and opportunities. The research provides insight into the companies that operate in the intervertebral implants market and their efforts to position themselves as key players through expansion strategies and innovations. It also highlights recent developments that contribute to the intervertebral implants market growth. The research also analyzes the impact of the COVID-19 pandemic.
This research is valuable for businesses seeking insights into the market, customers, and competition. The research provides special insights into the segmentation, regions, market size & projection, revenue CAGRs, and other important information that may help clients make the right decisions. The report assembles data from market players and professionals across the industrial value chain. The study also incorporates qualitative and quantitative assessments from industry professionals. Secondary research, surveys and interviews, and statistical modeling are all used in our research to estimate market size and projection. Our reports deliver the most reliable market data because of our specialized research methods.
Intervertebral Implants Market Dynamics
The growing incidence of spinal conditions, such as degenerative disc disease, spinal stenosis, and herniated discs, is a significant driver for intervertebral implants. As the population ages and lifestyles change, the demand for effective treatments for these conditions rises, increasing the need for intervertebral implants. According to the National Center for Biotechnology Information, around 102 million individuals (1.4%) are diagnosed with spinal stenosis worldwide annually, with the highest estimated incidence in Europe (2.2%) and lowest in Africa (0.94%). Technological advancements have positively influenced intervertebral implants by enhancing implant materials, design, and surgical techniques. These improvements have resulted in safer, more durable, and highly effective implants. As a result, a broader spectrum of patients can now access the benefits of implant procedures, driving higher adoption rates and fostering notable market growth. Minimally invasive spine surgeries have gained popularity due to their potential benefits, including smaller incisions, reduced blood loss, shorter hospital stays, and faster recovery times. Intervertebral implants play a crucial role in these procedures by providing stability and support to the spine. The development of healthcare infrastructure, particularly in emerging economies, has improved access to advanced spine surgeries, including intervertebral implants. Increased availability of specialized healthcare facilities, trained professionals, and advanced medical technologies has contributed to the growth of the intervertebral implants market.
However, Intervertebral implant procedures can be expensive due to the cost of implants, surgical equipment, and specialized healthcare services. The high costs associated with these procedures may limit their accessibility, thus restricting the intervertebral implants market growth. Risks and complications associated with intervertebral implants include implant failure, infection, nerve damage, and adjacent segment degeneration, which are likely to hinder the intervertebral implants market growth.
Intervertebral Implants Market Ecosystem
Intervertebral Implants Market, by Type
Intervertebral Implants Market, by Material
Intervertebral Implants Market by Segments
The lumber segment accounted for almost 48% of the revenue share of the intervertebral implants market. Lumbar spinal conditions, such as degenerative disc disease, herniated discs, and spinal stenosis, are more prevalent than other spine regions. The lumbar spine experiences more wear and tear due to its weight-bearing function and frequent movement, leading to a higher incidence of spinal disorders that require intervertebral implants. According to the National Center for Biotechnology Information, the annual incidence of a herniated disc is between 5 to 20 cases per 1000 persons, with a male-to-female ratio of 2:1. The severity of symptoms and functional limitations associated with lumbar spinal disorders often necessitate surgical interventions. When conservative treatments fail to provide sufficient relief, intervertebral implants offer a viable solution to alleviate pain, restore stability, and improve mobility in the lumbar spine.
The market segmentation sections provide the intervertebral implants market outlook regarding the demarcation of different consumer groups. Market segmentation is splitting an industry into subgroups depending on characteristics such as type, material, and region. Market segmentation data helps organizations understand the preferences and distinctive demands of different customer groups and implement targeted marketing strategies. This data additionally helps in identifying potential intervertebral implants market demand opportunities. The lumbar spine offers more treatment options than other spine regions. In addition to intervertebral implants, alternative procedures such as lumbar fusion and disc replacement are commonly performed for lumbar spinal disorders. The availability of multiple treatment modalities in the lumbar segment contributes to its growth in the intervertebral implants market.
Intervertebral Implants Market by Region
The North America region has the largest intervertebral implants treatment market size in revenue generation, accounting for almost 36% of the revenue share. North America has a significant burden of spinal disorders, including degenerative disc disease, herniated discs, and spinal stenosis. Factors such as an aging population, sedentary lifestyles, and obesity contribute to the rising prevalence of these conditions. The need for effective treatments, such as intervertebral implants, drives market growth in the region. According to the National Center for Biotechnology Information, lumbar spinal stenosis affects more than 200,000 adults in the U.S. It is the most prevalent reason for spine surgery in people over the age of 65. North America is at the forefront of technological advancements in healthcare. The region witnesses continuous innovation in intervertebral implant materials, design, and surgical techniques. These advancements contribute to improved safety, durability, and effectiveness of intervertebral implants, driving their adoption in the market. North America boasts a well-developed healthcare infrastructure, including advanced medical facilities, specialized spine centers, and a skilled workforce. The availability of state-of-the-art healthcare facilities and expertise in intervertebral implant procedures enables widespread access to these treatments, supporting market growth.
Based on the regions, the global intervertebral implants market is segmented into:
The industry's regional segmentation provides insights into geographic pockets regarding intervertebral implants industry trends, market size, share, and growth rate. This information helps organizations assess potential growth opportunities in new regional markets, understand competitive threats, and develop localized sales and expansion strategies. This section also offers deeper insights into the regional and country-level intervertebral implants market overview.
Key Components of the Report
intervertebral implants Market Competitive Landscape
The market competitive landscape analysis is performed by gathering and evaluating data about the key competitors, industry trends, and market dynamics. It involves collecting and analyzing data on factors such as products, pricing, geographic reach, customer demographics, marketing tactics, and recent developments. Competitive landscape analysis can help organizations identify present or prospective opportunities and risks in the market.
Intervertebral Implants Market Strategic Developments
Reasons To Buy This Report
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Intervertebral implants are medical devices used in spinal surgery to replace or stabilize damaged intervertebral discs, which are the soft cushions between the vertebrae of the spine. These implants are designed to maintain proper spacing and alignment of the vertebrae, alleviate pain, and restore stability and mobility to the spine.
During the forecast period, Asia Pacific is the key growth region in the global market due to the surge in intervertebral implants industry trends in China, Japan, and the Indian subcontinent.
The intervertebral implants market is expected to register a revenue CAGR of 5.6% during the forecast period from 2023 to 2031.
Continued advancements in intervertebral implant materials, design, and surgical techniques hold immense growth potential. Innovations such as 3D-printed implants, biocompatible materials, and minimally invasive surgical approaches can improve implant safety, durability, and efficacy. Companies investing in research and development to bring novel technologies to market will likely gain a competitive advantage and drive market growth.
Companies in the intervertebral implants market frequently engage in mergers and acquisitions to strengthen their market position. Acquiring or merging with complementary companies allows for diversification, expansion into new geographic regions, and access to a broader customer base.
The intervertebral implants market was valued at US$ 1.52 billion in 2022
The estimated size of the global intervertebral implants market in 2031 is US$ 2.62 billion.
The key players operating in the global intervertebral implants market are Stryker Corporation, B. Braun Melsungen AG, DePuy Synthes (Johnson & Johnson), NuVasive, Inc., and Globus Medical, Inc.
The lumber segment dominated the intervertebral implants market.
*Insights on financial performance are subject to the availability of information in the public domain