Latin America Spinal Implants And Devices Market Size & Outlook
Latin America spinal implants and devices market, 2018-2030 (US$M)
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Latin America spinal implants and devices market highlights
- The Latin America spinal implants and devices market generated a revenue of USD 1,212.5 million in 2023.
- The market is expected to grow at a CAGR of 7% from 2024 to 2030.
- In terms of segment, spinal fusion devices was the largest revenue generating product in 2023.
- Vertebral Compression Fracture Treatment Devices is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,212.5 million |
| Market revenue in 2030 | USD 1,942.9 million |
| Growth rate | 7% (CAGR from 2023 to 2030) |
| Largest segment | Spinal fusion devices |
| Fastest growing segment | Vertebral Compression Fracture Treatment Devices |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Spinal Fusion Devices, Spinal Biologics, Vertebral Compression Fracture Treatment Devices, Non-fusion Devices, Spinal Bone Growth Stimulators |
| Key market players worldwide | Medtronic PLC, Johnson & Johnson, Stryker Corp, NuVasive, Zimmer Biomet Holdings Inc, Globus Medical Inc Class A, Alphatec Spine, Orthofix Medical Inc, Ulrich Medical USA, B. Braun, RTI Surgical - cardiothoracic closure, SeaSpine |
Other key industry trends
- In terms of revenue, Latin America region accounted for 9.1% of the global spinal implants and devices market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 3,771.5 million by 2030.
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Spinal Implants And Devices Market Scope
Spinal Implants And Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America spinal implants and devices market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to spinal implants and devices market will help companies and investors design strategic landscapes.
Spinal fusion devices was the largest segment with a revenue share of 59.34% in 2023. Horizon Databook has segmented the Latin America spinal implants and devices market based on spinal fusion devices, spinal biologics, vertebral compression fracture treatment devices, non-fusion devices, spinal bone growth stimulators covering the revenue growth of each sub-segment from 2018 to 2030.
The scope for minimally invasive surgeries is escalating in Latin America at an exponential rate. Increased awareness about MIS coupled with its increased implementation as a consequence of the accelerating demand in this region is anticipated to boost market expansion during the forecast period.
Presence of high unmet medical needs coupled with high economic development in Latin America put forward opportunities for the market to expand.
Latin America includes emerging economies such as Brazil and Mexico. Furthermore, the growing geriatric population of the region also contributes to the market growth. Elderly population is more susceptible to these diseases and hence contributes to an increase in market demand.
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Our clientele includes a mix of spinal implants and devices market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America spinal implants and devices market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America spinal implants and devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America spinal implants and devices market size, by country, 2018-2030 (US$M)
Latin America Spinal Implants And Devices Market Outlook Share, 2023 & 2030 (US$M)
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