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  Title	Spinal Implants Market: Industry Share, Research Insights, Trends & Growth Strategy – Analysis & Forecast to 2028
  ID	7191816
  External ID	7568137802
  Author	Unknown
  Published Date	Feb. 21, 2025, 1:44 a.m.
  Summary	Medtronic receives CE Mark approval for Inceptiv spinal cord stimulator with closed-loop sensing to treat chronic pain. The Global Spinal Implants Market valued at US$10.7 billion in 2022, is forecas
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  URL	https://www.whatech.com/og/markets-research/medical/934818-spinal-implants-market-industry-share-research-insights-trends-growth-strategy-analysis-forecast-to-2028.html
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  Relevance	0.01852

• Content Details

  Content ID	4508595
  Key	844bb1e0-0b4e-4f70-ae0e-fd6681b0f15b
  Content	Medtronic receives CE Mark approval for Inceptiv spinal cord stimulator with closed-loop sensing to treat chronic pain. The Global Spinal Implants Market valued at US$10.7 billion in 2022, is forecasted to grow at a robust CAGR of 5.0%, reaching US$11.2 billion in 2023 and an impressive US$14.3 billion by 2028. An increase in spinal disorders and the aging population, increasing research & funding initiatives from organizations, and worldwide advancement in spine surgical procedures are a few drivers that collectively contribute to the growth of the market, and as healthcare technologies continue to evolve, the demand for minimally invasive spine surgical procedure is expected to rise further in the upcoming years. However, challenges for regulatory issues, high cost limits the market growth. Browse in-depth TOC on "Spinal Implants Market" 359 - Tables 45 - Figures 335 – Pages Driver: Increase in prevalence of spinal disorder The escalating prevalence of spinal disorder stands as a significant driving force in the market. This trend underscores a growing demand for advanced surgical procedures, compelling the healthcare industry to invest in innovative spine surgical technologies. Advancing age is associated with an increased risk of degenerative spinal conditions. As people live longer, the prevalence of age-related spinal disorders, such as degenerative disc disease and spinal stenosis, is on the rise. This demand, fueled by the rising incidence of spinal disorder, is reshaping the landscape of spinal implants and driving advancements in the sector. Restraint: Issues related to high cost of procedures The elevated costs associated with spinal implant procedures impose a considerable financial strain on patients, even those covered by insurance. This often results in deferred or altogether avoided treatments. Effectively addressing the constraint of high procedural costs in the spinal implant domain necessitates a comprehensive approach involving collaboration among healthcare providers, payers, manufacturers, and policymakers. This collaborative effort aims to guarantee the accessibility and affordability of innovative treatments for patients. Strategic initiatives such as enhancing transparency, fostering competition, and exploring value-based care models are pivotal in alleviating the adverse effects of this constraint. Opportunity: Emerging markets offering growth opportunities Emerging markets are evolving into pivotal growth hubs for the spinal implants industry. A myriad of factors contribute to the expansion opportunities within these markets, encompassing heightened healthcare consciousness, enhanced healthcare infrastructure, escalating disposable incomes, and a burgeoning aging demographic. Rapidly growing economies like India and China present substantial growth prospects in the field of spinal implants due to the expanding patient base caused by the rising prevalence of spinal disorder with aging population in these nations. Challenge: Lack of adequate physicians and limited awareness Physicians' limited awareness of recent advancements in spinal implant technologies, especially in minimally invasive procedures for spine surgical procedures, coupled with a scarcity of training opportunities in certain regions, poses challenges. Additionally, patients often lack awareness of spinal implant options and their benefits. To address these issues, initiatives such as continuous medical education for physicians, public awareness campaigns, and improved access to specialized care are crucial. These efforts aim to bridge knowledge gaps, empower physicians with up-to-date skills, and inform patients, ultimately promoting the effective use of spinal implant technologies for improved patient outcomes.Major companies in this market include well-established and financially stable suppliers of spinal implants. Prominent companies in spinal implants market include Medtronic plc (Ireland), Johnson & Johnson (Depuy Synthes) (US), Stryker corporation (US), NuVasive (US), Globus Medical Inc. (US), Zimmer Biomet holdings (Warsaw), RTI Surgical Inc. (US), Spineart (Switzerland) among several others. Non-Fusion Devices segment to register a significant growth rate over the forecast period of 2022-2028. Based on the product, the spinal implants market is segmented into Thoracic Fusion and lumbar Fusion Devices, Cervical Fusion Devices, Spine Biologics, Spinal Decompression Devices, Non-Fusion Devices, Vertebral Compression Fracture Treatment Devices, and Spine Bone Stimulators. The surge in spinal disorder and non-fusion procedures often involve less disruption to surrounding tissues and may result in shorter recovery times. Furthermore, The adoption of non-fusion devices in spinal implants reflects a shift toward more patient-centered, minimally invasive approaches that aim to address spinal conditions while preserving motion and reducing the potential for complications associated with fusion surgeries are significant contributors to this segment's substantial market share. Open Surgeries segment accounted for the significant share of the spinal implants market in 2022-2028. Based on the type of surgery, Open Surgeries is the preferred application for surgeons in spine surgical procedures for complex spinal deformities, such as severe scoliosis or advanced kyphosis. The direct visualization provided by open procedures allows surgeons to address intricate anatomical abnormalities more effectively. Additionally, In trauma cases, open procedures are often used when the surgeon needs quick access to treat fractures, dislocations, and other severe injuries., is anticipated to bolster the segment's growth. North America to account for a significant market share in the spinal implants market in 2022. Based on region, The spinal implants market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, with North America dominating the market share in 2022. This dominance in North America is propelled by factors such as a growing elderly population, a high incidence of spinal disorder, a rise in demand for minimally invasive surgical procedures, and the presence of well-established players with robust spinal implants portfolios. Furthermore, growing research and funding initiatives from public and private organizations are expected to further boost the spinal implants market in North America. Key Market Players of Spinal Implants Industry: As of 2022, prominent players in the spinal implants market are Medtronic (Ireland), Depuy Synthes- Johnson & Johnson (US), NuVasive (US), Spineart (Switzerland), RTI Surgical (Germany), Zimmer Biomet Holdings (US), Globus Medical Inc. (US), Abbott Laboratories (US) and Boston Scientific Corporation (US), Stryker Corporation (US), among others. Spinal Implants Market - Access this Report: The report will help the new entrants/ market leaders/smaller firms in this market with investment evaluation viability within the spinal implants market through a thorough analysis of comprehensive data, thereby facilitating robust risk assessment and enabling well-informed investment determinations. Benefit from meticulous market segmentation encompassing application, end-user, and regional dimensions, affording tailored insights for precise segment targeting. The report also provides an all-encompassing evaluation of encapsulating pivotal trends, challenges, growth catalysts and prospects, thereby empowering strategic decision-making with astute discernment. The report provides insights on the following pointers: Analysis of key drivers (increasing prevalence of spinal disorder diseases, Increasing geriatric population worldwide, Ongoing advancements in spine surgery technologies), restraints (high cost of treatment procedures and uncertainty in reimbursement structure), opportunities (Growth in the number of hospitals and surgical centers, Emerging markets offers high-growth opportunities), and challenges (lack of adequate physicians and limited awareness) influencing the growth of the spinal implants market Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the spinal implants market. Market Development: Comprehensive information about lucrative markets – the report analyses the spinal implants market across varied regions. Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the spinal implants market Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Medtronic (Ireland), Johnson & Johnson- Depuy Synthes (US), Stryker Corporation (US), NuVasive (US), among others. Content Source: News From
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  Publisher Name	WhaTech
  Publisher URL	https://www.whatech.com/
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  Citation Flow Score	26

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  Data Source Name	Quantexa News
  Data Source Type	news
  Data Source URL	https://app.aylien.com/dashboard
  Description	Welcome to Quantexa News API — the most powerful way to aggregate, filter, and integrate global news data into your apps and models.
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