Spinal Implant Market Poised for Steady Growth to $16.7 Billion by 2031 Driven by Demand in North America and Advances in Materials and Design
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The global spinal implant market is projected to reach $16.7 billion by 2031, expanding at a CAGR of 5.2% from 2023-2031.
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Spinal implants are used to support the spine, relieve pain, and improve mobility for spinal conditions like degenerative disc disease and scoliosis.
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North America accounted for a large share of the spinal implant market in 2022, driven by the U.S. due to product approvals and demand for less invasive procedures.
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Titanium is a preferred material for spinal implants due to its strength, low weight, corrosion resistance, and biocompatibility.
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Key players are focused on new product development, mergers and acquisitions, and partnerships to improve spinal implant materials, designs, and technology.