South East Asia Spinal Implants Market Size, Share, & Trends Analysis Report By Product (Spinal Fusion, Non-fusion), By Raw Material (Titanium, PEEK), By End-use (Hospitals, ASCs), By Application, And Segment Forecasts, 2021 - 2028

Report Overview

The South East Asia spinal implants market size was valued at USD 1.9 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 6.1% from 2021 to 2028. Increasing incidence of spine disorders, such as lumbar stenosis, fractures, trauma, deformities, and degenerative disc diseases, is expected to bolster the market growth over the forecast period. The growing geriatric population and rising cases of occupational & sporting activities-related injuries are the key factors responsible for increased cases of spine disorders. In addition, the growing demand for key-hole surgeries or minimally invasive surgeries for correcting and stabilizing spine disorders is expected to propel growth. These surgical procedures are performed to facilitate fusion and strengthen & stabilize the spine.

Advancements in spine surgery devices and implants are expected to drive market growth. The growing demand for minimally invasive surgeries is attributed to the increasing awareness levels about the benefits associated with these procedures, such as shortened operating time, reduced hospitalization stays, minimal collateral tissue damage, and quicker recovery periods, which is contributing to the development of the market. The emergence of advanced spinal implants and surgical procedures is expected to positively impact the market growth.

Some of the innovations developed by key players are flexible radiolucent spinal implants, advanced image-guided technology, bone fusion, and 3D printing of disc tissue. The geriatric population in Southeast Asia is rising at an alarming pace and is susceptible to spine deformities and degenerative diseases. The rising prevalence of lower back pain and neck pain is estimated to affect 60% of the geriatric population in this region. Some of the common spine disorders being recorded amongst the geriatric population are spondylolisthesis, prolapsed intervertebral disc, lumbar stenosis, and lumbar disc herniation. Furthermore, the incidence of sports-related injuries and sudden trauma to the spine is increasing and is a key impact-rendering driver for the market.

Key market players are constantly investing in research & development activities and devising technological collaboration strategies to expand their product portfolio and business footprint. For example, computer-assisted image guidance systems are used in spine localizations and deliver real-time image datasets. Furthermore, key players are introducing lesser non-invasive surgical techniques with minimum postoperative pain & complications, preservation of motion in operated spine segment, and faster recovery periods. Moreover, spine specialists and surgeons are adopting Artificial Intelligence (AI) and machine learning algorithms, which aid healthcare professionals in their decision-making by running data analysis on the image datasets.

The ongoing COVID-19 pandemic had a negative impact on the market owing to the overburdening of healthcare systems. The transformations in the industry forced surgical departments to reduce the volume of non-emergent spine surgeries. The onset of the pandemic enforced governments to impose travel restrictions and lockdowns to curb the transmission rate. The lack of Personal Protective Equipment (PPE), testing facilities, and restructuring & shortage of workforce led to a significant decline in surgical procedures and impacted the revenue earnings of spinal implants in Southeast Asia. The pandemic impacted the operating room structures, indications, and pre-op setup enforcing healthcare facilities to make required alterations. Healthcare facilities had to postpone or cancel surgical procedures, which eventually contributed to the decline in revenue earnings.

COVID19 South East Asia spinal implants market impact: 7.4% decline in revenue growth from 2019 to 2020

A rise in the number of healthcare facilities, such as Ambulatory Surgery Centers (ASCs), hospitals, and specialty clinics, is expected to contribute to the market growth over the forecast years. Moreover, the growing trend of healthcare professional-owned and -managed specialty clinics and ASCs is supporting the demand for minimally invasive surgeries. The increasing prevalence of spine disorders is contributing to the surge in demand for spinal implants, which is supporting the entry of new players in the market with innovative product offerings. These players are focusing on developing novel products by providing enhanced patient comfort to gain a competitive edge in the market.

Product Insights

In 2020, the spinal fusion implants segment dominated the market with a revenue share of 64.0%. These implants are usually combined with bone grafts during surgery to correct deformities, strengthen, and stabilize the spine. There are various types of fusion implants, such as plates, rods, pedicle screw systems, and interbody fusion devices. The increasing number of spine disorders and the growing geriatric population are boosting the segment growth. The common causes of spinal fusion injuries include trauma, falls, collisions, or road traffic accidents. The thoracolumbar devices, including pedicle screws, rods, plates, dominated the fusion devices segment in 2020. Moreover, increasing incidence of spine disorders, such as lumbar stenosis, excessive kyphosis, and vertebral fracture, are driving the segment growth.

The spinal fusion implants segment is expected to register the fastest CAGR during the forecast period. The increasing adoption of minimally invasive surgeries is increasing the demand for spinal fusion devices. Surgeons are opting for minimally invasive surgeries rather than open surgeries owing to various advantages, such as less pain & complications and reduced postoperative duration. According to a study published by Orthopedic Design & Technology publication in 2019, minimally invasive techniques are being adopted for treating a wide range of bone disorders. Moreover, spinal fusion surgery turned out to be one of the most commonly performed and well-established treatment options for spine trauma, degenerative disorders, and structural abnormalities.

Raw Material Insights

In 2020, the titanium segment dominated the market with a revenue share of 33.5%. Advantages, such as high strength like steel and being exceptionally lightweight are major factors driving the adoption of titanium implants in spinal surgical procedures. In addition, the lower modulus of elasticity as compared to stainless steel has made titanium less rigid, thereby reducing the stress exerted on bone structures. Some of the other key features of titanium implants are higher biocompatibility and the tendency to easily get alloyed to make stronger material. Moreover, titanium has proved to generate a lower immune reaction because titanium is corrosion-resistant. The majority of spinal implant products, such as pedicle screws, rods, plates, and cages, are most commonly made of titanium. In addition, various technological innovations have proved to be favorable in increasing the adoption of titanium for making spinal implants. For instance, in April 2021, Orthofix launched its first 3D-printed titanium implants for spine surgeries, which are designed to promote better bone growth and offer an extensive range of patient-specific implant sizes.

On the other hand, the Polyetheretherketone (PEEK) segment is anticipated to register the fastest CAGR during the forecast period. Recently, Polyetheretherketone (PEEK) surpassed the growth rate of titanium implants, becoming the preferred choice of raw material. Furthermore, manufacturers are focused on creating hybrid spinal implants where the implant is developed using both titanium and PEEK. Some of the key features aiding the adoption of PEEK material include its low cost & weight, flexibility, bone-like modulus, good thermal resistance, low artifacts on imaging, and high biocompatibility with bone structure. Moreover, PEEK has shown radiographic properties, which help surgeons in monitoring migration along with the success rate of the implant. PEEK rods further allow greater contact between the bone graft and the endplate, owing to its improved and enhanced elasticity & biological compliance.

Application Insights

In 2020, the degenerative disc disease segment dominated the market with a revenue share of 38.0%. Degenerative disk disease is the most common among older adults aged 40 years and above. Neck (cervical spine) and lower back (lumbar spine) pains are the most common symptoms of degenerative disc disease. An increase in cases of lower back & neck pain in adults and an increasing geriatric population are the major factors driving the segment growth. In addition, the increased popularity of sports activities is expected to boost segment growth. Constant product innovations and new launches in spinal implants intended for treating degenerative disc disease are also projected to boost the growth. For instance, in May 2020, DePuy launched its new interbody implant-CONCORDE LIFT Interbody Implant-which aids in spinal fusion surgery to treat degenerative disc disease.

The degenerative disc disease segment is further anticipated to record the fastest growth rate over the forecast period due to the development of the high number of spinal implants for this indication. Manufacturers are focusing on developing technologically advanced implantable devices, which can be used to help restore disc height in the spinal column to simplify the minimally invasive degenerative disc disease procedures. Total disc replacement with artificial discs has proven successful for treating degenerative disc disease. For instance, artificial discs are manufactured and designed to replace the intervertebral discs damaged due to spine disorders, including degenerative disc disease.

End-use Insights

In 2020, the hospital segment dominated the market with a revenue share of over 49%. Hospitals offer spinal surgical procedures to treat various disorders, including lumbar stenosis, deherniation, spine fractures, and degenerative disc diseases. Spinal implant procedures are witnessing a widespread adoption over conventional methods since this is a minimally invasive procedure and preserves muscle and other collateral tissues. The growing demand for minimally invasive procedures in hospitals is one of the significant factors expected to boost the segment growth. Moreover, the majority of hospitals have entered into long-term contracts with multiple vendors to procure spinal implants at low costs to reduce hospital expenditure without hampering the quality of care delivered.

On the other hand, the Ambulatory Surgery Centers (ASCs) segment is anticipated to record the fastest CAGR over the forecast years. An increase in demand for minimally invasive surgeries due to reduced hospital stays is a key driver expected to drive the ASCs segment. The growing trend of same-day surgeries has resulted in significant cost savings and optimum care delivery in developed economies. Less time required for spinal procedures, minimal discomfort owing to the introduction of keyhole surgeries, and quick recovery time are the factors expected to drive the demand for minimally invasive spine surgeries in ASCs. Since many surgeries require short hospitalizations & operation time and low anesthesia usage, it is viable to conduct surgical procedures in ASCs and specialty clinics.

Regional Insights

In 2020, China dominated the market with a revenue share of more than 31% This growth can be attributed to developed healthcare infrastructure and positive outlook toward adoption of advanced technologies to streamline spinal procedures as well as enhance productivity & cost savings. Increasing adoption of implants to treat traumatic spinal cord injuries coupled with the growing geriatric population in the country, which is at higher risk of spinal injuries is one of the key reasons expected to drive the market growth. The demand for spinal surgery has significantly increased in the past decade. Improvements in healthcare facilities and increases in healthcare expenditure in developing countries like China have provided growth opportunities for the spine implant market.

On the other hand, India is anticipated to record the fastest CAGR over the forecast period. Factors, such as rising healthcare expenditure, effective hospital services management, and a growing influx of patients at various healthcare facilities for spinal injuries, are anticipated to drive the market growth in the country. The prevalence of spinal cord injuries in India is much higher than in other South Asian countries. According to the Global Burden of Diseases (GBD) 2016 Traumatic Brain Injury and Spinal Cord Injury Collaborators study published in 2019, the prevalence of spinal cord injury in India was 143,743, while the prevalence in South Asia was 180,120. The Indian healthcare industry is growing rapidly owing to increasing healthcare spending, rising disposable income, and rising health awareness. Various government initiatives undertaken in the Indian healthcare industry are also expected to drive the market.

Key Companies & Market Share Insights

Major companies are constantly devising their merger & acquisition, product development, partnerships, and collaboration strategies to expand their product offerings and business footprint. For instance, in June 2019, Medtronic PLC acquired Titan Spine, a pioneering titanium interbody fusion device manufacturer. Through this acquisition, Medtronic PLC strengthened its market position and expanded its product portfolio. Some of the prominent players in the South East Asia spinal implants market are:

• Medtronic PLC

• DePuy Synthes

• NuVasive

• Stryker Corp.

• Globus Medical, Inc.

• Zimmer Biomet

• RTI Surgical, Inc.

• Orthofix Medical, Inc.

• SeaSpine

• B Braun Melsungen AG

South East Asia Spinal Implants Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research, Inc. has segmented the South East Asia spinal implants market report on the basis of product, raw material, application, end-use, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2028)

  • Spinal Fusion Implants

    • Plates

    • Rods

    • Pedicle Screw Systems

    • Interbody Fusion Devices (Spinal Cages)

  • Non-Fusion Implants

    • Expandable Cages

    • Others

• Raw Material Outlook (Revenue, USD Million, 2016 - 2028)

  • Titanium

  • Titanium Alloy

  • Stainless Steel

  • Polyetheretherketone (PEEK)

• Application Outlook (Revenue, USD Million, 2016 - 2028)

  • Spine Fractures

  • Spinal Stenosis

  • Degenerative Disc Disease

  • Complex Deformity

  • Others

• End-use Outlook (Revenue, USD Million, 2016 - 2028)

  • Hospitals

  • Ambulatory Surgery Centers

  • Clinics

• Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • China

  • Japan

  • India

  • Singapore

  • Indonesia

  • Malaysia

  • Thailand

  • Philippines

  • Vietnam