Cervical implants Market exhibiting CAGR of 7% by 2032, owing to the rising pervasiveness of spinal diseases | insightSLICE
The global Cervical Implants market is expected grow at a CAGR of 7% between 2023 to 2032.
Cervical implants have become an essential method of stabilizing and decompressing the cervical region. Plates, rods, and fasteners are generally anchored in the spine to stabilize the broken bone. Cervical implants can also be used for spinal fusion treatments, manage cervical abnormalities, and support the spine after damage or an accident.
They can also be used along with synthetic bone grafts, or autografts as a combination therapy. Cervical Implants can now be built from composite polymers like high-density polypropylene or metal alloys and offer various advantages over conventional methods.
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Global Cervical implants Market Key Segments:
By Product Type
- Cervical Fusion Devices
- Non-Fusion Devices
- Spinal Decompression Devices
- Spine Biologics
- Spine Bone Stimulators
- Thoracic Fusion & Lumbar Fusion Devices
- Vertebral Compression Devices
By Surgery Type
- Minimally Invasive Surgeries
- Open Surgeries
By End-user
- Hospitals
- Orthopedic Centers
- Trauma Centers
By Geography
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- South America
- Brazil
- Rest of South America
The Global Cervical Implants Market was negatively impacted due to the Covid-19 pandemic. However, the market is expected to normalize and then continue its increased growth within the next decade.
Cancellation or postponement of non-essential surgeries, conversion or repurposing of orthopedic facilities into Covid wards, and production and supply chain disturbances were major factors that damaged the prospects of the global cervical implant market. Due to the return of these factors to post-Covid levels, we may see spiked growth in the cervical implants market within the next few years.
The key players of the Global Cervical implants Market are:
Key companies dominating the global cervical implants market are Axiomed Spine Corp Stryker Corporation, Centinel Spine, Inc., Medtronic, Plc, Depuy Synthes (Johnson & Johnson Inc.), Globus Medical, Inc., NuVasive, Inc., Orthofix Medical Inc., Olympus Corp., Zimmer Biomet Holdings, Inc. Large companies across the world are deploying strategic initiatives in the Global Cervical Implants Market including service expansion, better pricing, increased sales & marketing pitch, collaboration and takeovers.
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Driving factors for the growth of Global Cervical implants Market
The increasing older population and a similar increase in geriatric care are expected to bring demand back to earlier levels. Rising per capita expenditures in the geriatric health care sector will therefore be a major contributor to the adoption and utilization of cervical implants. Additionally, the natural rise in prominence of spine-related illness, and back pain symptoms will have a positive sales impact for cervical implants.
Increased patients with degenerative disc disorders, sports, accidental injuries, and lifestyle-induced spinal damage will help the cervical implant market to flourish. Growing demand for prosthetics, spinal fusion treatment, and non-fusion surgeries are other factors that can contribute to the growth of the global cervical implant market.
Ease of implantation coupled with less invasive surgeries will enable the growth of this market. Better technologies in the production of spinal implant products will also result in similar growth of cervical implants. Large-scale production will also increase once the market reaches a critical threshold.
Increased product development, smarter design, and development, and better materials will also bring down the resultant cost and help the adoption of cervical implants positively.
Regional performance of Cervical implants Market
Large populations in the United States are expected to undergo cervical implants which will have an impact on growth and utilization within the next decade. A resultant increase in the adoption of cervical implants will happen throughout Canada, Mexico, and Brazil and drive proportional growth in the cervical implants market.
The Asia Pacific region is anticipated to grow rapidly and contribute significantly during the forecast period. The expected increase in the geriatric population of several Asian countries along with the rise in the prevalence of bone diseases is expected to be the major contributors to the growth.
Countries like Japan, China, and South Korea have a large elderly population combined with a better standard of living. This can increase the demand for high-quality cervical implant services and products. The Middle Eastern countries of Saudi Arabia, UAE, and Egypt along with Nigeria, and South Africa may see a rise in the expansion of the Cervical Implants Market in their economies.
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The leading market segments of Global Cervical implants Market
High-income nations and premium cervical implants help the cervical implants market specifically for cobalt-chromium, and titanium-based products. Alternatively lower income groups are expected to drive the stainless steel-based cervical implant market along with emerging economies.
Anterior Cervical Plate, Artificial Cervical Discs, Posterior Plates, and Screws are the main components that will have increased sales. Streamlined production and widespread demand will enable better opportunities in the manufacturing sectors of the mentioned components of cervical implants.
Hospitals will continue to be the largest contributors to the cervical implant market, whereas orthopedics and trauma centers will show the fastest growth as per the studied period. Hospitals are generally expected to perform higher and bring in higher volumes of sales globally whereas specialized orthopedic facilities may report better growth in North American and European markets.
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