The North American spinal implants market is positioned to grow at a 5.2 percent compound annual growth rate through 2021, based on a Market Data Forecast report, according to medGadget.
Here are five observations:
1. Valued at $6.68 billion in 2016, the market is set to hit $8.6 billion by 2021.
2. The North American spinal implants market accounts for 50 percent of the global market.
3. An increasing obese and geriatric population as well as a boost in spinal disorder cases will expand the North American market. The demand for minimally invasive spine surgery will also aid market growth.
4. The market's motion preservation/non-fusion segment will likely grow at the highest CAGR through 2021, due to the prevalence of MIS procedures and development of non-fusion devices.
5. Key market players include Medtronic, DePuy Synthes, Stryker Corp. NuVasive, Zimmer Biomet, Globus Medical, Alphatec Holdings, Orthofix, K2M and RTI Surgical.