Spinal implants are implanted into the bone, which is then secured to the spinal column. Spinal or vertebral implant systems typically made of titanium, plastic, or other synthetic materials, using specially designed spinal tooling are most often used in instances when spinal injuries require surgical intervention. These implant products fuse together to promote stabilization and improve function, as well as correcting deformities and stabilizing and strengthening the spine.
Spinal implants can be used for both rehabilitation and permanent modification. They are generally recommended for use in patients suffering from certain types of spinal injuries, including degenerative disc disease, scoliosis, spondylolysis (a condition in which the backbone's soft tissue is deformed), spinal stenosis (a narrowing of the spinal canal), or more severe back injuries.
The increasing prevalence of spinal arthritis is a prime factor propelling the growth of spinal implants market. According to the World Health Organization, worldwide estimates are that 9.6% of men and 18.0% of women aged over 60 years have symptomatic osteoarthritis. 80% of those with osteoarthritis will have limitations in movement, and 25% cannot perform their major daily activities of life. The growing geriatric population is further increasing the prevalence of spinal implants. This is again propelling the growth of spinal implants market. Increasing healthcare spending for improving infrastructure and patient care is again expected to foster the market growth of the spinal implants.
From the geographical point of view, North America is expected to gain significant growth over the forecast period and this is attributed to the high presence of the geriatric population in the region. According to the U.S. Census Bureau, there were 40.3 million U.S. residents 65 years and older in the 2010 Census and more than 54 million in July 2019. Also, the strong presence of the medical implants industry in the region is again projected to propel the market growth.
Key Developments:
1. In January 2019, ulrich medical USA, Inc., announced the market entry of a highly-anticipated, new generation vertebral body replacement device which is the company’s flagship technology in the U.S. spine implant market.
2. In October 2019, Xtant Medical has launched three new spinal implants—two cervical interbody spacers and one plasma coated PEEK implant.
3. In November 2020, Huntsville, AL, based spinal implant manufacturer Curiteva, Inc announced record revenue for Q3 2020 with the successful launch of their Prodigy Open and MIS posterior fixation systems.
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