COVID-19 Impact on the Spinal Implants Market
The surge in SARS-CoV-2 infection has also boosted the apprehension with regard to reduced supply of essential medical devices that are used for treating not only the novel coronavirus but other disorders and ailments as well. The pandemic has weakened the demand for spine implants since treatments in this regard have been put on hold in favor of COVID patients, leading to slower market growth.
The pandemic and the resultant global lockdown have prompted companies to accelerate their manufacturing processes. However, the situation has been worsened by the lack of workforce as the social distancing practice has become the norm since the COVID-19 outbreak. Automation and robotics are the latest trends in the spinal implants market, as the adoption of these technologies is helping manufacturers to bridge the supply and demand gap.
Spinal implants market 2020 can expect growth at a decent rate of approximately 5.5% from 2017 to 2023 (assessment period), suggests Market Research Future (MRFR). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
Key Growth Boosters and Challenges
Constant developments in non-invasive spine surgical approaches have made it feasible and much more effective in the treatment of various types of spinal disorders, preventing long incisions. These approaches also help avoid substantial damage to the muscles that surround the spine, thereby causing lesser pain post operation as well as quicker recovery.
The market for spinal implant is extremely competitive, with various firms adopting strategies such as collaboration, partnership, acquisition and product launch to gain a higher business stand. To cite an instance, in November 2020, Aurora Spine Corporation launched SOLOTM ALIF Stand-Alone Cage system, which is a device that is used as an integrated plate to sustain the natural shape of the spine and also offers stability and support. This 3D printed technology facilitates minimally invasive spinal surgical procedures that helps boost patient safety while improving the clinical outcomes.
Key Industry Participants
The key participants in the global industry are SpineGuard (France), Back 2 Basics Spine (Canada), Precision Spine (U.S.), NuVasive, Inc. (U.S.), Exactech Inc. (U.S.), Alliance Spine (U.S.), Medtronic, plc (Ireland), K2M Group Holdings, Inc. (U.S.), RTI Surgical, Inc. (U.S.), Spinal Solutions Inc. (U.S.), Apollo Spine (U.S.), Integra LifeSciences (U.S.), LDR Holding Corporation (U.S.), Globus Medical, Inc. (U.S.), Orthofix International N.V. (Netherlands), Life Spine (U.S.), Amedica Corporation (U.S.), Ascendx Spine (U.S.), Depuy Synthes Inc. (Johnson & Johnson) (U.S.), AESCULAP (U.S.), Accel Spine (U.S.), Captiva Spine Inc. (U.S.), Alphatec Holdings, Inc. (U.S.), Premia Spine (Israel), A-Spine (Taiwan), Quandary Medical LLC (U.S.), Centinel Spine (U.S.), Reliance Medical Systems (U.S.), NLT Spine (U.S.), Spineart Geneva SA (Switzerland), SI-BONE (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Spine Frontier (U.S.), Stryker Corporation (U.S.), Paradigm Spine LLC (U.S.), and more.