The global Thoracolumbar Spine Devices market is expected to grow at a CAGR of XX% during the forecast period (2024-2031), reaching a value of USD YY billion by 2031, up from USD XX billion in 2024. North America is expected to dominate the market throughout the forecast period. The growth of the Thoracolumbar Spine Devices market is driven by the increasing prevalence of spinal disorders, rising geriatric population, and technological advancements in spinal surgery.
Growing adoption of minimally invasive spinal surgeries
Minimally invasive spine surgeries are becoming increasingly popular due to their numerous benefits, which include smaller incisions, less blood loss, shorter hospital stays, and faster recovery times. The expanding usage of these treatments is driving up the need for specialised thoracolumbar spine devices designed for minimally invasive surgery. In 2023, over 60% of all spinal surgeries were performed using minimally invasive techniques, a trend that is expected to continue throughout the projection period.
Technological advancements in spinal implants and instrumentation
Continuous innovation in spinal implants and instrumentation drives market growth. The use of 3D-printed, patient-specific implants, advanced biomaterials, and robotic-assisted surgical systems enhances the outcomes of thoracolumbar spine surgeries. NuVasive, for example, presented its new 3D-printed titanium interbody implant for thoracolumbar fusion in January 2024, which improves osseointegration and biomechanical stability.
High cost of spinal implants and surgeries
The high cost of spinal implants and surgeries can hinder market growth, particularly in developing countries. Thoracolumbar spine devices are usually expensive, and spinal treatments can be a significant financial burden for those who lack adequate insurance coverage. However, the development of cost-effective implants and the increased adoption of value-based healthcare models are expected to reduce this barrier to some extent.
By product, the thoracolumbar pedicle screws segment is expected to dominate the market during the forecast period.
Thoracolumbar pedicle screws are frequently used in spinal fusion surgeries because they provide adequate fixation and stability. The growing number of spinal fusion procedures, combined with technological advancements in pedicle screw design and materials, is moving the market forward. The global thoracolumbar pedicle screws market was valued at USD YY billion in 2023 and is expected to grow at a 7.5% CAGR during the forecast period.
North America is expected to dominate the Thoracolumbar Spine Devices market during the forecast period.
North America's dominance in the Thoracolumbar Spine Devices market can be attributed to a variety of factors, including the high frequency of spinal disorders, contemporary healthcare infrastructure, and the existence of major industry competitors. The region's expanding elderly population, combined with greater usage of less invasive spinal surgeries, is driving market growth. In 2023, the United States led the North American Thoracolumbar Spine Devices market, followed by Canada.
Recent market developments in North America include:
In North America, Medtronic gained FDA approval for its guided interbody system for minimally invasive thoracolumbar fusion surgeries in September 2023.
Stryker also introduced a 3D-printed titanium thoracolumbar interbody cage in November 2023 to increase spinal fusion results.
Key data that show North America's commercial dominance:
In 2023, North America dominated the global Thoracolumbar Spine Devices market, accounting for 45%.
In 2023, the United States dominated the North American Thoracolumbar Spine Devices market, accounting for 80%.
Thoracolumbar Spine Devices is a very competitive market, with many significant players focused on product innovation, geographic expansion, and strategic alliances. The market's leading companies are Medtronic, Johnson & Johnson (DePuy Synthes), Stryker, NuVasive, Zimmer Biomet, and Globus Medical.
Medtronic dominates the global Thoracolumbar Spine Devices market, offering a wide range of spinal implants and surgical navigation systems. Continuous R&D investment and a global presence help to support the company's market position.
Recent developments in the competitive landscape include:
Johnson & Johnson (DePuy Synthes) has acquired a controlling stake in Sentio, a startup developing AI-powered surgical planning software for spinal procedures,
While NuVasive and Siemens Healthineers have formed a partnership to develop an integrated surgical navigation and imaging platform for spinal surgeries.
The Thoracolumbar Spine Devices market will expand in the next years due to the increasing frequency of spinal disorders, an ageing population, and technological advancements. As minimally invasive procedures gain popularity, companies that focus on developing unique, minimally invasive thoracolumbar spine devices are expected to gain a competitive advantage.
Medtronic
Johnson & Johnson (DePuy Synthes)
Stryker
NuVasive
Zimmer Biomet
Globus Medical (List Not Exhaustive)
In September 2023, Medtronic received FDA approval for its navigated interbody system.
Johnson & Johnson (DePuy Synthes) acquired a majority stake in Sentio in March 2024.
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope & Segment
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking -- Key Players
3.3. Market Share Analysis -- Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. COMPANY PROFILES (Key Companies list by Country) (Premium)*
5. COMPANY PROFILES
5.1. Medtronic
5.2. Johnson & Johnson (DePuy Synthes)
5.3. Stryker
5.4. NuVasive
5.5. Zimmer Biomet
5.6. Globus Medical
5.7. Alphatec Spine
5.8. Orthofix Medical
5.9. RTI Surgical
5.10. SeaSpine (LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Growing adoption of minimally invasive spinal surgeries
6.1.2. Technological advancements in spinal implants and instrumentation
6.1.3. Increasing focus on 3D-printed and patient-specific implants
6.2. Market Drivers
6.2.1. Rising prevalence of spinal disorders
6.2.2. Growing geriatric population
6.2.3. Increasing healthcare expenditure and reimbursement coverage
6.3. Market Restraints
6.3.1. High cost of spinal implants and surgeries
6.3.2. Stringent regulatory requirements and product recalls
6.4. Market Opportunities
6.5. Porter's Five Forces Analysis
6.5.1. Threat of New Entrants
6.5.2. Bargaining Power of Buyers/Consumers
6.5.3. Bargaining Power of Suppliers
6.5.4. Threat of Substitute Products
6.5.5. Intensity of Competitive Rivalry
6.6. Supply Chain Analysis
6.7. Value Chain Analysis
6.8. Trade Analysis
6.9. Pricing Analysis
6.10. Regulatory Analysis
6.11. Patent Analysis
6.12. SWOT Analysis
6.13. PESTLE Analysis
7. BY PRODUCT (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
7.1. Thoracolumbar Pedicle Screws
7.1.1. Monoaxial Pedicle Screws
7.1.2. Polyaxial Pedicle Screws
7.1.3. Cannulated Pedicle Screws
7.2. Hooks
7.2.1. Pedicle Hooks
7.2.2. Laminar Hooks
7.2.3. Transverse Process Hooks
7.3. Rods
7.3.1. Rigid Rods
7.3.2. Semi-rigid Rods
7.3.3. Dynamic Rods
7.4. Plates
7.4.1. Anterior Plates
7.4.2. Lateral Plates
7.5. Cages
7.5.1. Anterior Lumbar Interbody Fusion (ALIF) Cages
7.5.2. Posterior Lumbar Interbody Fusion (PLIF) Cages
7.5.3. Transforaminal Lumbar Interbody Fusion (TLIF) Cages
7.6. Spacers
7.6.1. Interspinous Spacers
7.6.2. Interlaminar Spacers
7.7. Others
8. BY SURGERY (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
8.1. Open Surgery
8.1.1. Anterior Approach
8.1.2. Posterior Approach
8.1.3. Lateral Approach
8.2. Minimally Invasive Surgery
8.2.1. Percutaneous Pedicle Screw Fixation
8.2.2. Minimally Invasive TLIF
8.2.3. Minimally Invasive Decompression
9. BY INDICATION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
9.1. Degenerative Disc Disease
9.1.1. Lumbar Degenerative Disc Disease
9.1.2. Thoracic Degenerative Disc Disease
9.2. Spinal Stenosis
9.2.1. Lumbar Spinal Stenosis
9.2.2. Thoracic Spinal Stenosis
9.3. Fractures
9.3.1. Compression Fractures
9.3.2. Burst Fractures
9.4. Spondylolisthesis
9.4.1. Isthmic Spondylolisthesis
9.4.2. Degenerative Spondylolisthesis
9.5. Spinal Tumors
9.5.1. Primary Spinal Tumors
9.5.2. Metastatic Spinal Tumors
9.6. Others
10. BY END-USER (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
10.1. Hospitals
10.1.1. Public Hospitals
10.1.2. Private Hospitals
10.2. Specialty Clinics
10.2.1. Orthopedic Clinics
10.2.2. Neurosurgery Clinics
10.3. Ambulatory Surgical Centers
10.3.1. Hospital-based ASCs
10.3.2. Freestanding ASCs
11. REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
11.1. North America
11.1.1. United States
11.1.2. Canada
11.1.3. Mexico
11.2. South America
11.2.1. Brazil
11.2.2. Argentina
11.2.3. Rest of South America
11.3. Europe
11.3.1. Germany
11.3.2. United Kingdom
11.3.3. France
11.3.4. Italy
11.3.5. Spain
11.3.6. Russia
11.3.7. Rest of Europe
11.4. Asia-Pacific
11.4.1. China
11.4.2. Japan
11.4.3. India
11.4.4. Australia
11.4.5. South Korea
11.4.6. Rest of Asia-Pacific
11.5. Middle-East
11.5.1. UAE
11.5.2. Saudi Arabia
11.5.3. Turkey
11.5.4. Rest of Middle East
11.6. Africa
11.6.1. South Africa
11.6.2. Egypt
11.6.3. Rest of Africa
*NOTE: All the regions mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
By Product:
Thoracolumbar Pedicle Screws
Hooks
Rods
Plates
Cages
Spacers
Others
By Surgery:
Open Surgery
Minimally Invasive Surgery
By Indication:
Degenerative Disc Disease
Spinal Stenosis
Fractures
Spondylolisthesis
Spinal Tumors
Others
By End-User:
Hospitals
Specialty Clinics
Ambulatory Surgical Centers
By Region:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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