The global spinal implants market is likely to be driven by a global aging population and the expected increase in demand for innovative spinal fusion and non-fusion technologies. A new report by visiongain, a London-based business information provider, predicts that the global market for spinal implants will be worth $16.0bn by 2022. The market generated sales of $7.4bn in 2011.
London, United Kingdom, September 18, 2012 –(PR.com)– The medical device industry has witnessed explosive growth in recent years. According to visiongain estimates, the global market was worth $266.0bn in 2011. Much of this growth is linked to the rising prevalence of a number of diseases worldwide; most notably in cardiac and neurological systems. A key factor in the growth of this market is orthopaedics, a branch of medicine concerned with conditions involving the musculoskeletal system, which has progressed rapidly in recent years owing primarily to the aging patient population and the increased incidence in conditions such as degenerative disc disease. The spinal implants market is the largest sector of the orthopaedics industry. It is an attractive and highly profitable market and therefore an intensely competitive one. This is clearly demonstrated by the sheer number of devices that are expected to be launched by the end of 2012 and the vast number of devices that are reported to be currently in different stages of development.
Rodrigo Gutierrez Gamboa, healthcare industry analyst, says: “Despite facing one of the most challenging years in recent history, the spinal implants market will see significant growth in the period 2012-2022. The spinal implants market has been facing increasing pressures in pricing due to constrained healthcare budgets in the US, the largest market for spinal implants. Nevertheless, the market managed to expand, albeit moderately, due to the growth exhibited in other major international markets. The spinal implants industry has therefore been described as one of the most resilient medical device markets in the face of pressures in healthcare due to poor macroeconomic conditions. Growth will be driven primarily by the increasing aging population and the subsequent increase in age-related disorders such as degenerative disc disease. The increase in these conditions is being further compounded by the escalating levels of worldwide obesity amongst the population, which has now reached epidemic proportions. In response, there has been a surge in patient demand for innovative and cost-effective spinal implant technologies, particularly those that preserve spinal motion.”
Visiongain’s research also suggests that the world spinal implants market may benefit from globalisation. There has been a steady rise in healthcare spending and medical insurance cover in countries such as Brazil, Russia, India and China (BRIC nations), owing to their rapidly growing economies. As a result, a greater proportion of the patient population will now be able to afford the treatments available, which will further strengthen demand in this sector.
Visiongain predicts that this market will grow steadily to 2022. The future of the spinal implants market appears promising and has significant potential for growth and investment with the increasing demand for safer, less invasive therapies. This new report adds to visiongain’s wide range of analytical reports in healthcare and other industry areas.
For sample pages and further information concerning the Visiongain report Spinal Implants: World Market Outlook 2012-2022 please visit http://www.visiongain.com/Report/865/Spinal-Implants-World-Market-Outlook-2012-2022
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