The innovation of implants in providing minimally invasive and motion-preserving stabilization is a major trend in the spine implants market. For example, RTI Surgical Holdings, a global surgical implant company, has launched the first and only posterior lumbar motion preservation solution, Coflex. Coflex is a differentiated, minimally-invasive, motion-preserving stabilization implant that is FDA PMA-approved (Food and Drug Administration Premarket Approval) for the treatment of moderate to severe lumbar spinal stenosis (LSS). It can be directly implanted following a surgical decompression, without fusing the bones. The device comes in different sizes to fit the patient’s anatomy, and this can be performed even in an outpatient setting.
The global spine implants market size is expected to decline from $12.44 billion in 2019 to $11.83 billion in 2020 at a compound annual growth rate (CAGR) of -4.92%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The outbreak decreased the demand for spine implants as the treatments for spinal problems were on hold to serve the COVID patients, thus impacting the market negatively. The spinal implants market size is then expected to recover and reach $13.81 billion in 2023 at a CAGR of 5.31%.
The rising incidences of spinal disorders coupled with the usage of minimally invasive surgical procedures are contributing to the growth of the global spinal implants and devices market. According to an article published in 2018 in Global Spine Journal, the annual world’s population suffering from spinal disorders includes 3.63% lumbar degenerative spine disease (DSD) and low back pain (LBP) collectively, 0.53% spondylolisthesis, 5.5% symptomatic disc degeneration, and 1.41% spinal stenosis. Due to the emergence of minimally invasive spine surgical (MISS) approaches, it has now become feasible and efficient for treating a wide range of spinal disorders without long incisions and by avoiding significant damage to muscles surrounding the spine, thereby resulting in less post-operative pains and faster recovery. Therefore, increased prevalence of spinal disorders along with the ease in treatment by MISS approaches is driving the global spinal implants market share.
The market for spine implants consists of sales of inserts used in spinal surgery. Spine implants are the devices used to correct the deformity in the spine, stabilize and strengthen the spine, and facilitate fusion of bones in different disorders such as degenerative disc disease, kyphosis, scoliosis, spondylolisthesis, spinal stenosis and fracture. The market consists of revenue generated by the companies’ manufacturing spine implants by the sales of these products.
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