The global spine market is projected to reach $18 billion by 2023, according to iData Research reports.
Here are five things to know:
1. The U.S. market share is expected to see the most growth, with 22 percent of its growth attributable to the minimally invasive spinal implants segment.
2. The MIS implant market is expected to grow at a 3.6 percent compound annual growth rate during the projected period.
3. MIS interbody implant options will see growth in the European spinal market, particularly for anterior lumbar interbody fusion and posterior lumbar interbody fusion approaches.
4. China's spinal market is currently valued at $2.73 billion, more than 15 European countries combined.
5. China's market is projected to grow at a 9 percent CAGR, due to trends towards increased motion preservation and MIS.