Press release
Intervertebral Implants Market: Current Landscape and Future Prospects
The intervertebral implants market is experiencing robust growth driven by advancements in medical technology and an increasing prevalence of spine-related diseases. Valued at USD 1.4 billion in 2021, the global market is projected to reach USD 2.5 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2031.
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Key Drivers of Market Growth
High Prevalence of Spinal Diseases: A significant factor propelling market growth is the rising incidence of spinal disorders such as degenerative disc disease, spinal stenosis, and scoliosis. With over 266 million individuals diagnosed annually with degenerative spine disease and low back pain, the demand for effective spinal treatments, including intervertebral implants, is surging.
Aging Population: The global increase in the geriatric population is another major contributor. According to the U.S. Census Bureau, the number of people over 65 years old is expected to represent more than 16.7% of the total population by 2050. This demographic is particularly susceptible to spine-related issues, thereby boosting the need for spinal implants.
Market Segmentation
The intervertebral implants market is segmented based on type, material, end-user, and region.
By Type:
Lumbar Implants: Dominating the market with a 50% share in 2021, driven by the high incidence of lumbar degenerative disc diseases.
Cervical Implants: Significant due to the rise in cervical spine issues.
Others: Including thoracic implants, though with a smaller market share.
By Material:
Titanium: Anticipated to grow rapidly, favored for its strength and compatibility with the human body.
Others: Including cobalt-chromium alloys used in specific implant applications.
By End-User:
Hospitals: Largest segment, benefiting from the extensive availability of advanced surgical facilities.
Clinics and Orthopedic Centers: Expected to grow at a high CAGR, driven by the increasing preference for minimally invasive procedures and specialized orthopedic care.
Regional Insights
North America: Leading the market with a 38% share in 2021. Factors such as a high prevalence of spinal diseases, advanced healthcare infrastructure, and significant R&D investments contribute to this dominance.
Asia Pacific: Projected to grow at a CAGR of 6.5% during the forecast period. The region's large patient population, improving healthcare facilities, and rising awareness about spinal treatments are key growth drivers.
Competitive Landscape
The intervertebral implants market is characterized by a high degree of consolidation, with key players focusing on expanding their product portfolios through R&D, mergers, acquisitions, and strategic partnerships. Prominent companies in the market include:
Alphatec Spine, Inc.
B. Braun Melsungen AG
Companion Spine LLC
DePuy Synthes (Johnson & Johnson)
Globus Medical, Inc.
LASAK s.r.o.
NuVasive, Inc.
Spineology Inc.
Stryker Corporation
Xtant Medical
Recent Developments
Ulrich Medical USA received FDA clearance for its Flux-C 3D-printed porous titanium cervical interbody device in November 2022.
Stryker Corporation launched the Monterey AL interbody system, designed for anterior lumbar interbody fusion, in October 2022.
Axis Spine Technologies raised $3 million in a funding round led by ACF Investors in February 2021.
Medtronic plc launched the Adaptix Interbody System with Titan nanoLOCK surface technology in October 2020.
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About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
Contact:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com
Follow Us: LinkedIn| Twitter| Blog | YouTube
Get a Sample Research PDF: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=85239&utm_source=OpenPR_Ajay&utm_medium=OpenPR
Key Drivers of Market Growth
High Prevalence of Spinal Diseases: A significant factor propelling market growth is the rising incidence of spinal disorders such as degenerative disc disease, spinal stenosis, and scoliosis. With over 266 million individuals diagnosed annually with degenerative spine disease and low back pain, the demand for effective spinal treatments, including intervertebral implants, is surging.
Aging Population: The global increase in the geriatric population is another major contributor. According to the U.S. Census Bureau, the number of people over 65 years old is expected to represent more than 16.7% of the total population by 2050. This demographic is particularly susceptible to spine-related issues, thereby boosting the need for spinal implants.
Market Segmentation
The intervertebral implants market is segmented based on type, material, end-user, and region.
By Type:
Lumbar Implants: Dominating the market with a 50% share in 2021, driven by the high incidence of lumbar degenerative disc diseases.
Cervical Implants: Significant due to the rise in cervical spine issues.
Others: Including thoracic implants, though with a smaller market share.
By Material:
Titanium: Anticipated to grow rapidly, favored for its strength and compatibility with the human body.
Others: Including cobalt-chromium alloys used in specific implant applications.
By End-User:
Hospitals: Largest segment, benefiting from the extensive availability of advanced surgical facilities.
Clinics and Orthopedic Centers: Expected to grow at a high CAGR, driven by the increasing preference for minimally invasive procedures and specialized orthopedic care.
Regional Insights
North America: Leading the market with a 38% share in 2021. Factors such as a high prevalence of spinal diseases, advanced healthcare infrastructure, and significant R&D investments contribute to this dominance.
Asia Pacific: Projected to grow at a CAGR of 6.5% during the forecast period. The region's large patient population, improving healthcare facilities, and rising awareness about spinal treatments are key growth drivers.
Competitive Landscape
The intervertebral implants market is characterized by a high degree of consolidation, with key players focusing on expanding their product portfolios through R&D, mergers, acquisitions, and strategic partnerships. Prominent companies in the market include:
Alphatec Spine, Inc.
B. Braun Melsungen AG
Companion Spine LLC
DePuy Synthes (Johnson & Johnson)
Globus Medical, Inc.
LASAK s.r.o.
NuVasive, Inc.
Spineology Inc.
Stryker Corporation
Xtant Medical
Recent Developments
Ulrich Medical USA received FDA clearance for its Flux-C 3D-printed porous titanium cervical interbody device in November 2022.
Stryker Corporation launched the Monterey AL interbody system, designed for anterior lumbar interbody fusion, in October 2022.
Axis Spine Technologies raised $3 million in a funding round led by ACF Investors in February 2021.
Medtronic plc launched the Adaptix Interbody System with Titan nanoLOCK surface technology in October 2020.
Buy this Premium Research Report: https://www.transparencymarketresearch.com/checkout.php?rep_id=85239
About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
Contact:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com
Follow Us: LinkedIn| Twitter| Blog | YouTube
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