According to a new report by Reports and Data, the global Spine Therapy Market is expected to reach USD 19.60 billion by 2027. The rising prevalence of low back pain globally is a significant factor contributing to the market's growth. The market is witnessing an increase in demand for spine surgeries and the latest generation spine implants, including bioabsorbable spine implants and a wide range of recently approved spine implants.

The emergence of 3D printed and custom-fit spine implants is also driving the growth opportunities for vendors, as it increases demand for innovations among consumers. The availability of biodegradable spine implants can also effectively disrupt the global spine therapy market.

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The invasive surgeries segment is projected to witness faster growth, increasing its share at a CAGR of 6% during the forecast period, and the high penetration of invasive surgical techniques in emerging countries such as India, Brazil, China, Mexico, and South Africa is boosting the MI spine surgeries segment.

The COVID-19 pandemic has affected the Asia Pacific region the most, with China at the center of the outbreak. The market has experienced a downturn over the weeks, which may continue over the next few months. The production, as well as supply, has been put on hold, causing losses to the manufacturers, dealers as well as consumers. The market might be facing a downside for the period. Still, with a rising health concern, the demand would be hitting the roof as soon as there is a development in the condition.

Spinal plates are projected to gain nearly one-fourth of the revenue share over the forecasted period, and spinal screws will also witness healthy growth, likely to reach around USD 1,500 million revenue by 2022 end. The increase in the elderly population in Latin America is expected to stimulate growth across all spinal therapy procedures.

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The 3D printed spinal implants have undergone rapid market development and seen substantial growth as surgeons migrated from PEEK implant materials back to Titanium. Compared to orthopedic clinics, hospitals are likely to emerge as the biggest users of spine devices, accounting for more than two-third revenue share on global revenues by the end of 2020.

The spinal therapy market has experienced single digit growth over the past 10 years and is expected to maintain this growth for the foreseeable future. Medtronic, Depuy Synthes, Stryker, Nuvasive, and Globus Medica are the dominant players in the market.

Reports and Data have segmented the spine therapy market on the basis of product, application, procedure, technology, end user, and region. The product segment includes fusion devices, non-fusion devices, and stimulation devices. The application segment includes open surgery and minimally invasive surgery. The procedure segment includes discectomy, laminotomy, foraminotomy, corpectomy, and facetectomy. The technology segment includes spinal fusion and fixation technologies, vertebral compression fracture treatment, and motion preservation technologies. The end-user segment includes hospitals and ambulatory surgery centers, specialty clinics, and others. Finally, the regional outlook covers North America, Europe, Asia Pacific, Latin America, and MEA.

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