LONDON, Jan. 20, 2023 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the spine implants market, 3D printing technologies have become increasingly prevalent in the healthcare industry as a treatment procedure to enhance the speed and effectiveness of joint surgery. Major companies such as Stryker, Johnson &Johnson and Zimmer have launched implants which use 3D printing technology enabling customized surgery for patients. This is done by developing the required components used in the surgery through use of a patient’s X-rays images or CT scan, enabling a highly customized implant thereby reducing the risk of a wrong fit.
For instance, in 2018, the FDA approved Stryker Corporation’s Tritanium® TL Curved Posterior Lumbar Cage which uses 3D-printed interbody fusion cage that acts as a support during the lumbar fixation surgery. The Tritanium TL Curved Posterior Lumbar Cage is a hollow implant that consists of both solid and porous structures, built simultaneously using AMagine, an approach to implant creation using additive manufacturing/ 3D printing.
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The global spine implant market size grew from $11.48 billion in 2020 to $12.35 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The spine implants market is expected to reach $14.86 billion in 2025 at a CAGR of 5%.
Patient specific instrumentation supported with artificial intelligence (AI) is another emerging trend in the spinal implants and devices market. Precise alignment of the spine is important for effective functioning of the musculoskeletal system. Patient-specific instrumentation is a novel technology treatment that uses deformity correction planning software through which prefabricated rods can be manufactured, which also addresses the need to bend rods in the operating room. AI- based software help in designing patient specific rods. Prefabricated rods provide flexibility to surgeon and allow them to maintain a deformity correction which aligns with surgical plan. For instance, in 2020, Medtronic has gained approval for patient specific UNiD™ Rods. UNiD™ Rods are customized based on patients’ requirements and pre-bent prior to surgery to accurately match an artificial intelligence (AI)-driven pre-operative surgical plan, which is created with UNiD™ ASI technology to precisely align patients’ spines.
TBRC’s global spine implants market report is segmented by product into spinal fusion devices, non-fusion devices/motion preservation devices, vertebral compression fracture (VCF) treatment devices, spinal bone stimulators, spine biologics; by procedure into open surgery, minimally invasive surgery (MIS); by material into metallic, polymeric, ceramic; by end use into hospitals, specialty orthopedic and spine centers, ambulatory surgical centers.
The global spine implants market is concentrated, with a small number of large players. The top ten competitors in the market made up to 75.87% of the total spine implant market share in 2023. Major players in the market include Medtronic plc, Johnson & Johnson, Stryker Corporation, NuVasive, Inc., Zimmer Biomet Holdings, Inc. and others.
North America was the largest region in the spine implants market, accounting for 41.4% of the global market in 2023. It was followed by Asia Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the spine implants market will be Asia Pacific and Western Europe, where growth will be at CAGRs of 6.8% and 4.7% respectively from 2023-2026.
Spine Implants Market Global Report 2022: Market Size, Trends, And Global Forecast 2023 – 2026 is one of a series of new reports from The Business Research Company that provide spine implant market overviews, spine implant market analyze and forecast market size and growth for the whole market, spine implant market segments and geographies, spine implant market trends, spine implant market drivers, spine implant market restraints, spine implant market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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