The spinal implants and surgery devices market is expected to hit $13.8 billion by 2025, according to a report published by MarketsandMarkets.
Three insights:
1. The market's forecasted compound annual growth rate for the period is 5 percent. In 2019, the market reached $10.3 billion.
2. The market surge is attributed to advancements in minimally invasive surgery, an increase in spinal disorder cases and the release of improved bone grafting factors, according to the report.
3. Last year, thoracic and lumbar fusion devices accounted for the largest share of the spinal devices market, due to a rise in lumbar degenerative disc disease cases and new product launches.