The global spinal implants and spinal devices market is expected to reach over USD 19.54 billion by 2024 according to a new report by Grand View Research, Inc.
The key drivers of the market include the rising number of spinal injuries, increasing trend in the adoption of sedentary lifestyles, postural defects stemming from bad posture habits at work and while driving, and a large number of people suffering from obesity. In addition to the above, the introduction of the image-based spinal navigation technology, the evolution of titanium biologics, and the ongoing research on the genetically modified bone morphogenetic proteins are also expected to positively reinforce the market growth.
Moreover, the increase in the geriatric population base prone to spinal disorders due to the lack of proper diet and exercise and declining bone density are also expected to fuel the market expansion over the forecast period.
The rising cost of spinal implants and procedural costs are a major concern across the globe and this factor is identified as a large strain on the emerging and low-income economies. Therefore, the introduction of novel bone growth stimulators and the increasing adoption of Minimally-Invasive Surgeries (MIS) surgeries that are relatively less-expensive are expected to propel the usage of spinal implants and devices over the forecast period.
With favorable government initiatives being advanced and the increasing number of investments being made by various private organizations is providing the thrust to the R&D activities pertaining to new product development and new treatment methods.
For instance, the American Academy of Orthopedic Surgeons and the North American Spine Foundation, both contribute towards the growth of the spinal implants and devices market through R&D funding activities and training programs for physicians globally.
Browse full research report on Global Spinal Implants and Spinal Devices Market: http://www.grandviewresearch.com/industry-analysis/spinal-implants-spinal-devices-market
Further key findings from the study suggest:
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the global spinal implants and spinal devices market on the basis of product, technology, type of surgery, and type of procedure:
Global Spinal Implants and Devices Market Product Outlook, by Revenue (USD Billion, 2016 - 2024)
Global Spinal Implants And Devices Market Technology Outlook, By Revenue (USD Billion, 2016 - 2024)
Global Spinal Implants And Devices Market Type Of Surgery Outlook, By Revenue (USD Billion, 2016 - 2024)
Global Spinal Implants And Spinal Market Procedure Type Outlook, By Revenue (USD Billion, 2016 - 2024)
Spinal Implants and Spinal Market Regional Outlook, by Revenue (USD Billion, 2016 - 2024)
Access press release of this research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-spinal-implants-spinal-devices-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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