Spinal Implants and Devices Market

Market Overview

The global spinal implants and devices market size was valued at USD 13.25 billion in 2022. It is projected to reach USD 21.39 billion by 2031, growing at a CAGR of 5.47% during the forecast period (2023-2031). Factors such as increasing prevalence of spinal disorders and demand for minimally invasive surgical procedures, significantly drives the spinal implants and devices market demand by 2031.

Spine implants and devices are used to treat spinal disorders. The primary function of these implants and devices is to restore and maintain normal spinal alignment. According to WHO data, between 250,000 and 500,000 spinal cord injuries occur annually around the world. The majority of SCIs result from preventable causes such as falls, motor vehicle accidents, and acts of violence. According to the World Health Organization, the annual incidence of SCI is between 40 and 80 cases per million people. Patients with SCI are two to five times more likely to die prematurely than patients who do not have SCI, resulting in a higher mortality risk. The majority of traumatic SCIs result from occupational or athletic injuries. Moreover, the increasing geriatric population and the number of obese individuals frequently develop symptoms of spinal disorders such as spinal stenosis, thereby boosting the demand for spinal implant surgeries and driving the market growth.

Market Dynamics

What are the primary factors driving the Spinal Implants and Devices Market?

Increasing Prevalence of Spinal Disorders

Due to their high prevalence, spinal disorders pose a significant medical, social, and financial burden. The second most frequent cause of disability in the United States is low back pain, which is also a major contributor to absenteeism. For instance, the National Spinal Cord Injury Statistical Center reports that as of June 2022, there were over 51,000 people who had suffered traumatic SCI and were registered in the National SCIMS Database, and over 30,000 of those people had follow-up information. Obesity, a poor diet, smoking, and other aspects of lifestyle are also contributory factors to spinal deformities. Toxins in cigarettes are to blame for the early onset of degenerative spinal changes because they harm the spine's cartilage. In addition, carrying too much weight relative to height can put stress on the vertebrae, joints, and spinal discs, among other parts of the spine.

Increasing Demand for Minimally Invasive Surgical Procedures

Minimally invasive procedures have resulted in shorter overall hospital stays and fewer complications. The use of minimally invasive surgical (MIS) methods has greatly advanced spinal surgery. Surgical supplies, nerve monitoring, computer-aided navigation, and robot-assisted surgery are some of these methods, which have all advanced significantly over time. These methods significantly reduce risks, surgical complications, and recovery time. Due to the opportunities, this presents for procedural advantages as well as clinical efficiency and patient outcome improvement, the market for spine implants and devices has seen an increase in demand for minimally invasive procedures. Surgeons can also make smaller incisions to give patients better results thanks to the expansion of implant procedures and the adoption of minimally invasive procedures. Furthermore, numerous recent minimally invasive product launches and approvals by major players have increased demand for minimally invasive spine surgery. Therefore, it is anticipated that during the forecast period, the aforementioned factors will fuel spinal implants and devices market growth.

What are the main factors that will slow down the Spinal Implants and Devices Market?

Problems in the Reimbursement for Spinal Surgery

In order to perform minimally invasive sacroiliac joint fusions with the iFuse Implant System, which enables them to fuse joints with triangular titanium implants, the procedure to obtain reimbursements for spinal surgery is a difficult challenge. Insurance companies won't pay for the procedure, though, unless surgeons use it frequently and can document its beneficial effects. Additionally, in order to approve surgery and provide coverage for the procedure, insurance companies require more documentation (such as evidence that the patient followed the right course of physical therapy and epidural injections before deciding on surgery). Further complicating the reimbursement process for spine surgery is the extensive information insurance companies demand about the surgery, such as the type of implant and instrumentation to be used in surgery, approach to surgery, and more. Because insurance companies need to be convinced that the necessary procedure is crucial and the patient will benefit, appealing for reimbursement presents a significant challenge for surgeons and patients.

What are the future opportunities for Spinal Implants and Devices Market?

Increasing Technological Advancements

The ability of sophisticated robotics for screw placement, computer-assisted navigation during spinal surgery, and minimally invasive surgical techniques to complete a complex series of actions automatically increases their market demand. For instance, during spine procedures, spine navigation technology is typically used to confirm the location of the spine and assist in the proper placement of spinal implants, such as screws, plates, and hooks. Additionally, the ability to create patient-specific templates, thanks to the use of 3D printing in the manufacture of spine surgery implants, contributes to the rise in the popularity of personalized medicine. Additionally, new robotic systems being developed for spinal procedures could improve the accuracy of surgical procedures like pedicle screw placement. The Europa System also won a spine technology award for excellence and innovation in spine surgery at the North American Spine Society (NASS) meeting. Due to these technological developments, the market for spinal implants and devices is growing.

Regional Analysis

The global spinal implants and devices market share is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America region is the highest contributor to the market and is expected to grow at a CAGR of 5.2% during the forecast period. The U.S. Bone and Joint Initiative state that musculoskeletal back pain is a significant contributor to disability among Americans. In fact, one in four adults experiences chronic lower back pain, according to the National Center for Health Statistics. Some diseases and conditions, including arthritis, spinal stenosis, a history of back injuries, or even disc disorders like spondylolisthesis, can cause this pain. Lower back pain is one of the leading causes of economic burden on people and governments, according to the WHO. The aging of the population in the United States is one of the major factors contributing to the rise in spinal impairment incidences.

Europe is expected to witness dynamic growth in the spinal implants and devices market,with a CAGR of 6.3% during the forecast period. Men and women over the age of 50 are more likely to have spinal disorders (spinal stenosis) diagnosed. The most frequent cause of spinal impairment is the changes in the structure of people's spines as they age, such as the thickening of the band of tissues that support the spine and the enlargement of the bones and joints. Each year, there are progressively more people in Europe who are over 60. Additionally, musculoskeletal issues brought on by aging and the deterioration of the musculoskeletal system are the main causes of physical performance limitations in older people, including frailty.

Asia-Pacific is expected to witness a significant CAGR of 6.7% in the spinal implants and devices market during the forecast period owing to an increase in new SCI cases in China and India. Japan has also contributed to the rapid growth, thanks to its technologically advanced spine procedures. It is a potential market for spinal implants and devices due to its large population base, high disposable income, and increased patient awareness of advanced spinal implantations. Furthermore, due to medical tourism and technological advancements, Asia-Pacific has become a lucrative market for spinal implants and devices. Furthermore, over 2,000 hospitals in India perform spinal surgery, with complex and sophisticated surgery such as microscopic spine surgery performed in at least 500 multi-faculty spinal surgery hospitals and super specialty hospitals. The growing geriatric population, combined with an increase in vehicular accidents, is also propelling regional growth.

The LAMEA region is expected to witness a moderate CAGR of 6.8% in the global spinal implants and devicesmarket during the forecast period. LAMEA has become a highly profitable market for spinal implants and technology. The demand for spinal implants and devices has grown as patients' awareness of minimally invasive procedures has increased. Brazil's demand for spinal implants and devices has significantly increased as a result of improved access to public healthcare and the presence of domestic implant manufacturers there. However, due to a lack of domestic manufacturers, the cost of implants and surgery is extremely high in other nations like Colombia.

Segmental Analysis

The global spinal implants and devices market is segmented by type and surgery.

Based on product, the global spinal implants and devices market is bifurcated into spinal fusion implants, vertebral compression fracture (VCF) devices, spinal bone stimulators, motion preservation devices, and spine biologics.

The spinal fusion implants segment is the highest contributor to the market and is expected to grow at a CAGR of 4.5% during the forecast period. The spinal fusion procedure is a method for stabilizing spinal bone or vertebrae conditions so that there is no motion between them. In spinal fusion procedures, implant systems utilizing specially designed spinal instrumentation are frequently used. These devices are used to strengthen and stabilize the spine, facilitate fusion, and treat deformities. The majority of spinal implants are constructed from non-metallic materials and metals like titanium, titaniumalloy, or stainless steel. The market for spinal implants has undergone significant development, including the introduction of the hook, rod, and screw systems that enable surgeons to correct spinal deformities in three dimensions and the creation of specialized plates and cages that support spinal fusion.

The motion preservation devices segment is expected to witness a higher CAGR of 11.7%. The concept of motion preservation is frequently used to treat degenerative disc disease in the lumbar spine. For a number of disorders, including scoliosis, spinal stenosis, and discogenic low-back pain, these techniques are an alternative to fusion. Additionally, the aging population, busy schedules at work, an increase in obesity cases, and demand for minimally invasive therapies all contribute to higher demand for motion preservation devices. Non-fusion devices are also less invasive, guarantee a quicker recovery, and require shorter hospital stays, all of which increase demand for these products.

Based on the surgery, the global spinal implants and devicesmarket is bifurcated into open spine surgery and minimally invasive spine surgery.

The open spine surgery segment is the highest contributor to the market and is expected to grow at a CAGR of 5.1% during the forecast period. Open surgery, which involves a lengthy incision to expose the surgical site and allow access to the spinal cord, has historically been used to perform spine operations. However, today's minimally invasive techniques are used to treat the majority of spine conditions. This is attributed to various open surgery-related complications.

The minimally invasive spine surgery segment is expected to grow at a significant CAGR of 6.04%. Simple spinal procedures like decompression and spinal fusion are frequently performed using minimally invasive spine surgery (MISS). The market's expansion is fueled by the declining hospital and surgical costs. The surgical technique does not require a lengthy cut or incision, reducing the possibility of causing harm to the muscles surrounding the spine. As a result, it is the method of choice for surgeries involving spinal injuries. As a result, there is less post-operative pain, a shorter hospital stay, less bleeding, and a quicker recovery.

Recent Developments

• October 2022, Seaspine Holdings Corporation announced the commercial launch of the Mariner MIS Wayfinder system. It eliminates the use of traditional guidewires for percutaneous screw placement.
• October 2022, Medtronic launched a new Neurovascular Co-Lab Platform to propel innovation in the treatment of strokes.