According to a new report by Reports and Data, the global Spine Therapy Market is expected to reach USD 19.60 billion by 2027. The global Spine Therapy market is experiencing growth due to the increasing prevalence of low back pain worldwide. This has resulted in a higher demand for spine surgeries and the latest generation of spine implants, including bioabsorbable implants and recently approved varieties.

Vendors are benefiting from the emergence of 3D printed and custom-fit spine implants, as it drives innovation and creates more demand. Additionally, the market is being disrupted by the availability of biodegradable spine implants.

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The invasive surgeries segment is poised for rapid growth during the forecast period, expected to achieve a projected CAGR of 6%, thereby gaining a larger market share. The increasing adoption of invasive surgical techniques, especially in emerging economies like India, Brazil, China, Mexico, and South Africa, is a significant driver fueling the expansion of the minimally invasive spine surgeries segment.

The COVID-19 pandemic has had a significant impact on the Asia Pacific region, with China being the epicenter of the outbreak. The market has experienced a decline in recent weeks, and this may continue in the coming months. Manufacturers, dealers, and consumers have all suffered losses due to the halt in production and supply. However, with rising health concerns, the demand is expected to increase significantly once the situation improves.

Over the forecast period, spinal plates are expected to account for almost one-fourth of the revenue share, while spinal screws are expected to experience healthy growth, reaching around USD 1,500 million in revenue by the end of 2022. The increasing elderly population in Latin America is likely to stimulate growth across all spinal therapy procedures.

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The 3D printed Spine Therapy have undergone rapid market development and seen substantial growth as surgeons migrated from PEEK implant materials back to Titanium. Compared to orthopedic clinics, hospitals are likely to emerge as the biggest users of spine devices, accounting for more than two-third revenue share on global revenues by the end of 2020.

The spinal therapy market has experienced single digit growth over the past 10 years and is expected to maintain this growth for the foreseeable future. Medtronic, Depuy Synthes, Stryker, Nuvasive, and Globus Medica are the dominant players in the market.

Reports and Data have segmented the Spine Therapy market on the basis of product, application, procedure, technology, end user, and region. The product segment includes fusion devices, non-fusion devices, and stimulation devices. The application segment includes open surgery and minimally invasive surgery. The procedure segment includes discectomy, laminotomy, foraminotomy, corpectomy, and facetectomy. The technology segment includes spinal fusion and fixation technologies, vertebral compression fracture treatment, and motion preservation technologies. The end-user segment includes hospitals and ambulatory surgery centers, specialty clinics, and others. Finally, the regional outlook covers North America, Europe, Asia Pacific, Latin America, and MEA.

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