The global spinal implants market is expected to grow at a 5.5 percent compound annual growth rate between 2017 and 2023, according to a Market Research Future report.
Here are five things to know:
1. A growing geriatric population is expected to drive the demand for spinal implants.
2. Increasingly sedentary lifestyles aggravate spinal problems and lead to chronic back pain diagnoses. This trend is projected to boost demand for spinal implants.
3. The Americas dominate the global spinal implants market and have made major contributions to nanotechnology and cell therapy in the spine area.
4. Europe is the second largest market due to its growing geriatric population.
5. The Asia-Pacific market is growing as a result of increased healthcare expenditures and growing government support for advanced healthcare technologies.