According to the research report titled ‘Spinal Implant Market Size By Product Type (Artificial Discs {Cervical, Lumber}, Dynamic Stabilization Devices, Spinal Fusion Implants {Rods, Pedicle Screws, Intervertebral Body Fusion Device (IBFD), Plates, Cages}), Application (Cervical, Thoracic, Lumber), By Material (Stainless Steel, Titanium, Cobalt Chrome, Polyetheretherketone (PEEK)), By Surgery (Open Surgery, Minimally Invasive Surgery), By Indication (Spinal Trauma, Deformity), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, spinal implant market is anticipated to garner notable returns by the year 2027.
 

Rising prevalence of spine related conditions globally, along with increasing technological advancements are the major growth determinants for global spinal implant market.
 

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For the unversed, spinal implants are surgical devices that help doctors to stabilize & strengthen the spine, cure deformities, and make fusion easier during surgery. Scoliosis, degenerative disc disease, spondylolisthesis, kyphosis, and fractures are among the conditions treated with these devices.
 

Moreover, profitable strategies adopted by industry players to capitalize on growth opportunities are enhancing the industry outlook.
 

Based on product terrain, the spinal fusion implants sub-segment is expected to reach a value of USD 6,379.5 million by 2027, growing with a noteworthy CAGR over the assessment period.
 

On the basis of application, worldwide spinal implant market share from cervical segment was worth USD 927 million in 2020 and is expected to grow notably between 2021 and 2027.
 

In terms of material, the stainless steel segment is predicted to generate USD 1,590.6 million by 2027, representing a significant CAGR during the study period.
 

With respect to surgery scope of spinal implant industry, the minimally invasive surgery segment held a significant revenue share in 2020 and is expected to achieve a valuation of roughly USD 4,191.5 million by the end of 2027.
 

Speaking of indication, the deformity segment is expected to reach USD 9,354.8 million by 2027, recording a robust CAGR during the analysis period.
 

Considering the regional landscape, Latin America contributed for approximately 4.5% to overall industry sales in 2020 and is expected to achieve a significant valuation by the end of 2027. Whereas, Middle East & Africa market is predicted to rise at a CAGR of 1.5% throughout the forecast period.
 

The key players in spinal implants market are Seaspine Holdings Corporation, B BRAUN MELSUNGEN AG, Surgalign Holdings, Inc., Alphatec Holdings, Inc, Globus Medical, Inc., NuVasive, Inc., Stryker Corporation, Zimmer Biomet, Johnson & Johnson, and Medtronic plc.