The Global Spinal Implants Market size was valued at USD 10.6 billion in 2023 and is estimated to grow at a CAGR of around 6.1% during the forecast period, i.e., 2024-30.
Global Spinal Implants Market Driver:
Rising Prevalence of Spinal Disorders to Elevate the Demand Graph – Driven by age & degenerative causes such as osteoarthritis, injuries, etc., the prevalence of various spinal disorders, such as spinal stenosis, spondylolisthesis, and degenerative disc disease, has increased. This has resulted in increased adoption of spinal implants and has accelerated the growth of the Global Spinal Implants Market. Further, the incidence of low back pain (LBP) is increasing across the world. For instance, as per the World Health Organisation (WHO), it is estimated that the number of cases of low back pain (LBP) would increase to 843 million by 2050, up from 619 million in 2020, pushed largely by population expansion & aging.
Individuals with chronic back pain who remain unresponsive to traditional treatments, such as physical therapy, medication, and injections have started considering spinal implants. The spinal implants offer structural stability to the spine by stabilizing segments & decreasing nerve pressure, resulting in reduced agony. Moreover, the demand for spinal implants would increase, considering many people would go for spinal procedures.
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Global Spinal Implants Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2030
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Medtronic Plc, Johnson & Johnson Medtech, Nuvasive, Inc, Stryker Corporation, Globus Medical, Inc., Zimmer Biomet Holdings, Inc., Orthofix International N.V., Ulrich Gmbh & Co. Kg, B. Braun Melsungen Ag, Integra Lifesciences Holdings Corporation, Boston Scientific Corporation, Abbott Laboratories, Spineart, Centinel Spine Llc, Premia Spine, Others,
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