The global spinal implants and devices market is expected to reach $13.38 billion by 2022, based on an Allied Market Research report, according to medGadget.
Here are 10 observations:
1. The market will grow at a compound annual growth rate of 4.6 percent through 2022.
2. While open spine surgery accounted for the greatest revenue in 2015, the minimally invasive surgery market will grow at the highest CAGR at 14.7 percent through 2022.
3. In 2015, the spinal fusion devices sector captured about three-fifths of the total market share.
4. The non-fusion and motion preservation segment will likely grow at a 10.9 percent CAGR through 2022.
5. In 2015, the balloon kyphoplasty segment captured about four-fifths of the global vertebral compression fracture devices market.
6. A boost in government spinal research and development funding has spiked market growth.
7. The popularity of minimally invasive sine surgery as well as an increasing number of spinal disorders will also expand the market.
8. Poor reimbursements and strict regulatory approval will hinder market growth, however.
9. The Asia-Pacific region will see the highest CAGR of 5.7 percent through 2022.
10. Alphatec B. Braun Melsungen, DePuy Synthes, Exactech, Globus Medical, Medtronic, NuVasive, Orthofix, Stryker and Zimmer Biomet dominate the market.