The global minimally invasive spinal implant market is expected to reach USD 6.49 Billion by 2027, according to a new report by Reports and Data. The growth of the market may be attributed to the increasing prevalence of target conditions, among other factors.
According to the World Health Organization (WHO), each year, globally, around 250,000 and 500,000 individuals suffer a spinal cord injury. Preventable causes, including road traffic accidents, falls, or violence, are the major contributors to the spinal cord injury, and individuals suffering from the condition are more likely to die prematurely as compared to healthy individuals with low and middle-income economies having the worst survival rates. Spinal cord injury is linked with a peril of occurrence of secondary conditions, which can be incapacitating and sometimes cost a person’s life, such as urinary tract infections, deep vein thrombosis, muscle spasms, pressure ulcers, osteoporosis, chronic pain, and respiratory complications.
As per the Global Health and Aging report published by the WHO (World Health Organization), the number of people aged 65 years or older is estimated to increase from a projected 524 million in 2010 to approximately 1.5 billion by 2050, with a significant percentage of increase in developing economies. Additionally, the number of people aged 65 years or older is anticipated to considerably surpass children younger than five years of age by 2050. Aging leads to the deterioration of facet joints resulting in several spinal disorders. Thus, the increasing prevalence of diseases in the growing geriatric population is likely to propel the growth of the market in the forecast period.
In-depth Study of the Competitive Landscape:
The global Minimally Invasive Spinal Implant market consists of various market players, which make this business sphere highly competitive. In this section of the report, the authors have provided authentic information on product portfolios, new product innovations, technological capabilities, and product pricing strategies of each of these players. Moreover, it discusses the key strategies implemented by these players, such as mergers acquisitions, joint ventures, collaborations, partnerships and agreements, to build on their market presence.
Top companies profiled in the report include:
Medtronic, DePuy Synthes, Zimmer Biomet, Stryker, NuVasive, Paradigm Spine, Cook Medical, Captiva Spine, Alphatec Spine Inc., and RTI Surgical Holdings Inc., among others.
Key Market Regions Covered in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Device Type Outlook (Revenue, USD Million; 2016-2027)
- Fusion Devices
- Non-Fusion Devices
- Spine Stimulation Devices
Disease Type Outlook (Revenue, USD Million; 2016-2027)
- Degenerative Disc Disease
- Traumas Fractures
- Complex Deformity
- Others
End-Users Outlook (Revenue, USD Million; 2016-2027)
- Hospitals
- Clinics
- Ambulatory Surgical Centers
Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global Minimally Invasive Spinal Implant market over the forecast period?
- What are the major factors driving the growth of the Global Minimally Invasive Spinal Implant Market?
- What are the key challenges impacting the global Minimally Invasive Spinal Implant market growth?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
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