Global Interbody Spine Implants Market Grows Steadily at a CAGR of 2.51%

Introduction

Interbody spine implants are primarily utilized to remedy spinal deformities, strengthen and improve spine stability, facilitate the fusion of two vertebrae, and treat spinal fractures. Moreover, the primary function of spinal implants is to facilitate the fusion of two vertebrae and to replace the natural disc material. The spine consists of bones, tendons, ligaments, spinal fluid, and spinal fibers from the neck to the pelvis. The spine is an essential body structure that keeps the body standing and erect. It facilitates movement and provides flexibility to the body.

Market Dynamics

Rising Frequency of Strategic Acquisitions Drives the Global Market

In recent years, the spinal implants market has emerged as one of the most competitive M&A markets in the medical technology sector. The global market for interbody spine implants has also witnessed significant mergers and acquisitions over the past decade. Such strategic acquisitions will likely alter the market's dynamics and may cause a reorganization of the market's top participants over the forecast period.

Additionally, these strategic initiatives will contribute to consolidating the acquiring companies in the global market for interbody spine implants. For instance, in 2021, ATEC Spine acquired EOS Imaging for 116.9 million dollars. The business plans to incorporate EOS technology into its AlphaInformatiX platform by adding spinal imaging and anatomical modeling.

Frequent New Product Launches Creates Tremendous Opportunities

In recent years, the market has witnessed the introduction of numerous innovative and advanced spine implant devices and significant changes in product design, material use, and spinal surgery techniques. For instance, Theradaptive developed Osteo Adapt SP, which is utilized in surgical procedures to treat degenerative disc diseases, spondylolisthesis, and retrolisthesis. These product introductions have enabled surgeons to perform spine surgeries more efficiently, improving post-operative outcomes.

In response to the substantial demand for surface-modified titanium spinal implants and porous PEEK systems, several market participants are concentrating on developing Ti-PEEK-based advanced spinal implant products. For instance, NuVasive introduced 3D printing and entirely porous titanium implant devices. Thus, the increasing emphasis of vendors on technological advancements and enhancements has contributed to the introduction of numerous innovative devices and increased demand for such devices. These factors are predicted to generate growth opportunities in the global interbody spine implants market over the forecast period.

Regional Analysis

North America is the most significant global interbody spine implants market shareholder and is estimated to grow at a CAGR of 2.40% over the forecast period. Most of the region's expansion is driven by the increasing demand for technologically advanced spine implant devices and the introduction of innovative spine implants with improved safety/efficacy profiles due to the relatively greater penetration of spine implants in North America compared to other regions and the large volume of spinal fusion and non-fusion surgeries. In the United States, the volume of elective lumbar fusion increased by approximately 62% between 2004 and 2015, from 122,679 cases to 199,140 cases. In addition, the increase in surgical procedures is attributable to the availability of a developed healthcare infrastructure, constant technological advancements, and the growing acceptability of various SR procedures. The prevalence of diverse spine disorders is also rising in the region, encouraging patients with spine disorders to endure spine surgeries, thereby driving the market growth.

Asia-Pacific is predicted to exhibit a CAGR of 3.35% over the forecast period. The increasing elderly population with a high risk of spinal disorders and the increased adoption of various spine surgical procedures are anticipated to boost the demand for interbody spine implants in Asia-Pacific. According to the UNPFA, the elderly population is predicted to triple by 2050 compared to 2010 and reach approximately 1.3 billion people. The healthcare system in this region is also undergoing a rapid transformation with the assistance of numerous government agencies. Similarly, healthcare providers focus on providing patients with advanced care, increasing demand for spine implants. The high cost of healthcare increases patient access to various advanced treatments for disc herniation and stenosis, thereby driving demand for spine implants.

Key Highlights

• The global interbody spine implants market size was valued at USD 89 billion in 2022. It is estimated to reach USD 2.36 billion by 2031, growing at a CAGR of 2.51% during the forecast period (2023–2031).
• Based on product type, the global interbody spine implants market is segmented into lumbar and cervical interbody spine implants. The lumbar segment is the highest contributor to the market and is projected to exhibit a CAGR of 3.13% over the forecast period.
• Based on materials, the global interbody spine implants market is segmented into metal, PEEK, and others. The metal segment owns the highest market share and is projected to exhibit a CAGR of 2.86% over the forecast period.
• Based on end-users, the global interbody spine implants market is bifurcated into hospitals, specialty orthopedic and spine centers, and ASCs. The hospitals segment dominates the global market and is predicted to exhibit a CAGR of 2.18% during the forecast period.
• North America is the most significant global interbody spine implants market shareholder and is estimated to grow at a CAGR of 2.40% over the forecast period.

Competitive Players

Competitive Players

The key players in the global interbody spine implants market are Globus Medical, Canwell Medical, Johnson & Johnson, Medtronic, Beijing Chunlizhengda Medical Instruments, B. Braun Melsungen, Aurora Spine, ATEC Spine, Aegis Spine, NuVasive, Stryker, Zimmer Biomet, and others.

Recent Developments

Market News

• In May 2023, HAPPE Spine, a medical device business dedicated to introducing innovative materials to orthopedic implants, announced that the FDA had granted 510k approval for its INTEGRATE-CTM Interbody Fusion System.
• In March 2023, FloSpine, a company that develops spinal fusion implants that can enhance outcomes and shorten recovery times for individuals with spine conditions, received approval from the U.S. Food and Drug Administration (FDA) for a 3D-printed implant to support the spine.

Segmentation

Global Interbody Spine Implants Market: Segmentation

By Product Type

• Lumbar
• Cervical

By Material

• Metal
• Peek
• Others

By End-Users

• Hospitals
• Speciality Orthopedic and Spine Centers
• ASCs

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa