Flexible Spinal Implants Market Size, Share, Growth, and Industry Analysis, By Type (Rods, Hooks, Pedicle Screws, Plates, Cages and Others), By Application (Thoracic, Lumbar, Cervical, Artificial Discs and Others), Regional Insights, and Forecast To 2031

Updated On: 15 April 2024

FLEXIBLE SPINAL IMPLANTS MARKET REPORT OVERVIEW

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The global flexible spinal implants market size was USD 2191.7 million in 2022 and is projected to touch USD 4198.34 million by 2031 at CAGR 7.5% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

In order to support and stabilize the spine, flexible spinal implants are implanted into the spine. They may be bent and sculpted to fit around the contours of the spine because they are constructed of flexible materials. Patients can now move around more freely and comfortably thanks to this. Flexible spinal implant are frequently utilized to offer additional stability and support to other surgical operations like fusions or decompressions. Vertebral compression fractures (VCFs) are more easily treated with spinal implant surgery than with conventional surgery. This typically results in a quicker recovery, less discomfort, and a lower chance of problems. The Food and Drug Administration has approved a new method of spine cement augmentation called a spinal implant for treating compression fractures of the spine caused by osteoporosis. Back pain, height loss, and aberrant spine curvature are all symptoms of spinal compression fractures.

The rise in spinal illnesses, technological developments in spinal implants, and rising interest in minimally invasive procedures are all factors contributing to the market's expansion. Rods, hooks, pedicle screws, plates, cages, and other types are the types into which the global flexible spinal implants market is divided. It is anticipated that the rods category will hold the biggest market share for flexible spinal implants worldwide. This can be linked to their high demand as a result of their capacity to offer the spine stability and support. The thoracic spine surgery, lumbar spine surgery, cervical spine surgery, artificial discs, and other applications, such as trauma surgeries, are the other applications that make up the application segmentation of the worldwide flexible spinal implants market. Due to the high frequency of spine problems in this region, the thoracic spine surgery category held the highest share of the global flexible spinal implant market.

COVID-19 Impact: Delayed Appointments Due to the Pandemic to Hinder Market Growth

The COVID-19 pandemic has demonstrated how flaws in health systems can have a significant impact on people's health, ability to advance economically, confidence in governments, and social cohesiveness. The virus must still be contained and its transmission and infection rate must be reduced. The ability of health systems to react quickly and effectively must also be strengthened. Vaccinations against COVID-19 are part of this. Numerous countries are launching vaccine campaigns after incredibly quick development and testing. However, there are still issues with production, delivery, and fair access, especially for low- and middle-income nations.

LATEST TRENDS

"Frequent Employment of Flexible Spinal Implants to Propel Market Growth"

Due to their capacity to deliver better results with less trauma and quicker recovery times, flexible spinal implants are being employed more frequently as an alternative to conventional open surgery techniques. Worldwide demand for flexible spinal implants is being driven by this. One of the main factors propelling the market for flexible spinal implants is the rise in spinal cord injuries. Research by the Centres for Disease Control and Prevention (CDC) estimates that 12,000 Americans experience spinal cord injuries each year. Future increases in this number are anticipated as the ageing population grows and spine health becomes a more widely known issue.

FLEXIBLE SPINAL IMPLANTS MARKET SEGMENTATION

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• By Type

Based on type market is classified as rods, hooks, pedicle screws, plates, cages and others.

• By Application

Based on application market is classified as thoracic, lumbar, cervical, artificial discs and others.

DRIVING FACTORS

"Rise in Problems Related to Spinal Cord to Propel Market Growth"

The global market has been divided into artificial disc replacement therapy, cervical spondylolisthesis, thoracic interbody fusion surgery, and lumbar interbody fusion surgery based on application. Due to the rising number of patients with degenerative disorders like herniated discs and stenosis, artificial disc replacement therapy was expected to generate the most income. The management of spinal problems like herniated discs, stenosis, and radiculopathy is covered in the other application part. Because artificial discs have a high percentage of success in treating a variety of spinal ailments, the market is anticipated to increase profitably throughout the projected period.

"Increased Stability with the Surgery to Attract Customers"

Hooks, which are tiny metal or plastic protrusions, are utilised to anchor the spine implants. After surgery, they aid in stabilising and holding the vertebrae together. Depending on their size and placement on the spine, the number of hooks needed varies. Larger ones can be placed at either end of your back (your thoracic or lumbar regions), while smaller ones can be positioned closer to the middle of your back. Rods are little, flexible objects that support spinal stability. They can also be used to treat other disorders like scoliosis and cervical radiculopathy; however, they are most frequently used to treat spondylolisthesis (slipped discs).

RESTRAINING FACTORS

"Possibilities of Risk to Impede Market Growth"

Spine implants have a number of issues, making these treatments riskier and more difficult than many people may realise. Metalloids, wear, corrosion, migration, fracture, and numerous other problems are among them.

FLEXIBLE SPINAL IMPLANTS MARKET REGIONAL INSIGHTS

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"North America to Dominate the Market Due to Expanding Awareness of Alternatives"

In terms of revenue share, North America dominated the world market. Due to expanding awareness of alternatives, an increase in the number of spinal procedures, and a high level of disposable income, the region is anticipated to hold its position during the projected period. Because of the region's expanding medical tourism, better healthcare infrastructure, and increased demand for minimally invasive procedures, the Asia Pacific is predicted to grow profitably over the projected period. Additionally, it is anticipated that rising spinal cord injury rates would fuel regional expansion in the ensuing years.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Paradigm Spine (U.S.)
• Medtronic (Ireland)
• Abbott Spine (U.S.)
• Raymedica (U.S.)
• K2M Group Holdings (U.S.)
• Stryker Corporation (U.S.)
• Zimmer Biomet Holdings (U.S.)

REPORT COVERAGE

The report anticipates a detailed analysis of the global market size at the regional and national level, the ssegmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Aanalysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.