Market Size (2016)
2016
$5.96B
Vertical: HealthcareBase Year: 201812 Sections
Market Size (2016)
2016
$5.96B
Projected (2025)
2025
$8.48B
CAGR (2016–2025)
4.0%
4.0%Key Players
104+
The thoracolumbar junction is present between the thoracic spine and the lumbar spine. Thoracolumbar spine fractures are common injuries that can result in significant disability, deformity, and neurological deficit. Worldwide increasing obese population, high prevalence of spinal cord injuries, and growing geriatric population are some of the major factors driving the market growth. On the contrary, the presence of stringent regulatory policies, lack of awareness for the use of advanced technologies, and fewer product recalls are anticipated to impede the market growth.
Key Contributing Factors
There are numerous factors that contribute to the growth of the thoracolumbar spine devices market. The key factors are mentioned below in brief.
Increasing Obese Population
According to the Organization for Economic Co-operation and Development (OECD), the obese population in the UK was increased from 25.6% of the total population in 2014 to 28.7% of the total population in 2017. In addition, the obese population in the US increased from 38.2% of the total population in 2014 to 40% of the total population in 2016. The rising obese population is likely to support the growth of the global thoracolumbar spine devices market over the forecast period.
High Prevalence of Spinal Cord Injuries (SCI)
As per a study published by the National Spinal Cord Injury Statistical Center in 2019, the annual incidence of spinal cord injury (SCI) is approximately 54 per 1 million individuals in the US or around 17,730 new cases every year. This prevalence of spinal cord injuries is expected to propel the demand for thoracolumbar procedures, thereby assisting in market growth.
Growing Geriatric Population
According to the statistics published by the United Nations (UN), the global population aged 60 years or over was 962 million in 2017, which is projected to double by 2050 (nearly 2.1 billion). The elderly population is more prone to develop the degeneration of spinal discs and cause intervertebral disc disorder (IDD) which is likely to boost the demand for thoracolumbar spine devices over the assessment period.
The Thoracolumbar Spine Devices Market market is projected to grow at a CAGR of 4.0% from 2016 to 2025.
Historical performance and future projections (2020–2030, USD Billion)
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View Subscription PlansThoracolumbar junction is the junction between the thoracic spine and the lumbar spine. The junction consists of the part of the vertebral column from the eleventh thoracic vertebra to the first lumbar vertebra. Thoracolumbar spine devices are used in this region to provide steady support to the spine and avoid bending of the thoracic spine. The global thoracolumbar spine devices market has been bifurcated into product type, type of surgery, material, end user, and region.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2018
Historical Period
2016 – 2018
Forecast Period
2018 – 2025
Primary Interviews
150+
Historical data (2016–2018) and forecast period (2018–2025)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansBargaining Power of Suppliers
Bargaining power of suppliers in the global thoracolumbar spine devices market is low to moderate. The suppliers in the global thoracolumbar spine devices industry are medical device manufacturers. Currently, a high number of suppliers are present in the market due to high opportunities. Major players are accounting for a significant share of the market. Switching cost of the suppliers is moderate because suppliers tend to enter into long-term associations, partnership, and deals with the companies that sell thoracolumbar spine devices.
Bargaining Power of Buyers
The bargaining power of the buyers is moderate to high in the global thoracolumbar spine devices market due to the presence of many suppliers of thoracolumbar spine devices. The buyers of thoracolumbar spine devices are moderately inclined towards product manufacturers. The market consists of a high number of manufacturers which leads to many options with regards to product offering thus the bargaining power of buyers tends to be moderate to high in this market.
Threat of New Entrants
The threat of new entrants is low to moderate in the global thoracolumbar spine devices market. Any company trying to enter the thoracolumbar spine devices market is required to accept the regulatory standards and product should get approval by regulatory authorities. This market is also characterized by a reasonable degree of brand loyalty, where establishing a brand name is difficult for new entrants. Moreover, products which are already available in the market are patented, and the cost involved in R&D is high, which creates unfavorable conditions for the new entrants in the market.
Threat of Substitutes
The threat of substitutes in the global thoracolumbar spine devices market is low. Substitutes pose a low threat in the global thoracolumbar spine devices market due to the unavailability of similar products which are offered by major market players. The major products used in thoracolumbar spine treatment are implants and instrumentation and spine biologics amongst others. Due to the availability of limited thoracolumbar spine devices, threat of substitutes in the global thoracolumbar spine devices market is low.
Intensity of Rivalry
The degree of competition in the global thoracolumbar spine devices market is high. Many manufacturers are present in the market. The market is shared by many major players, and their market share is fixed, which indicates the intense rivalry. Players are engaged in developing a process to lower their manufacturing cost to overcome the competition. Moreover, the players are also developing advanced techniques to differentiate their product from their rivals.
Market estimates by geography (2025)
InsightNorth America leads with $2.87B by 2025, while Asia Pacific is projected to grow fastest at a 4.7% CAGR.
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View Subscription Plans| REGION | 2016 | 2018 | 2025 | CAGR | SHARE |
|---|---|---|---|---|---|
| Middle East and Africa | $368.70M | $453.90M | $480.60M | 3.0% | 6% |
| North America | $2.02B | $2.53B | $2.87B | 4.0% | 34% |
| Asia Pacific | $1.17B | $1.40B | $1.77B | 4.7% | 21% |
| Europe | $1.94B | $2.42B | $2.72B | 3.8% | 32% |
| South America | $460.50M | $581.20M | $644.20M | 3.8% | 8% |
| Total | $5.96B | $7.38B | $8.48B | 4.0% | 100% |
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View Subscription PlansTotal Market Size
$8.48B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Spinal Implants | $3.52B | 4.0% | 72% |
| Devices and Instrumentation | $2.94B | 4.0% | 87% |
| Spine Biologics | $2.03B | 4.0% | 72% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Thoracolumbar Spine Devices Market covering market dynamics, competitive landscape, and strategic outlook.
The Thoracolumbar Spine Devices Market market is projected to reach $8.48B by 2025, growing at 4.0% CAGR. The Spinal Implants segment holds the largest share.
The human spinal cord, based on anatomy, is divided into three sections, namely, cervical, thoracic, and lumbar. The cervical section is located at the beginning of the skull comprising of first seven vertebrae. The thoracic spine is the midback consisting of the next 12 vertebrae and the section from ribs to sacrum comprises the lumbar section consisting of the five lower vertebrae.
The global thoracolumbar spine devices market is mainly driven by increasing obese population, high prevalence of spinal cord injuries (SCI), and increasing geriatric population. Stringent regulatory policies, lack of awareness for the use of advanced technologies, and product recall may slow down the growth of the market in the future. On the other hand, launch of innovative products is likely to offer lucrative opportunities for the growth of the market.
Obesity is a complex disease which acts as a cause of other illnesses and health problems such as diabetes, heart disease, and blood pressure amongst others. According to a study published by the National Center for Biotechnology Information (NCBI), 2017, obesity adds to the burden of intervertebral disc disorder (IDD) and lower back pain (lumbar section of the spine). As per the Organization for Economic Co-operation and Development (OECD), the obese population in the UK increased from 25.6% of the total population in 2014 to 28.7% of the total population in 2017. Also, the obese population in the US increased from 38.2% of the total population in 2014 to 40% of the total population in 2016. The increase in obese population increases the risk of problems related to the thoracolumbar section which eventually increases the demand for thoracolumbar spine devices. Hence, the rising obese population is expected to increase the growth of the global thoracolumbar spine devices market during the forecast period.
The manufacturers in the global thoracolumbar spine devices market are constantly involved in research and development for the launch of innovative products. For instance, in July 2019, joimax GmbH launched its product line EndoLIF, consisting of three devices, namely, EndoLIF Double Wedge Cage, EndoLIF Delta Cage, and EndoLIF O/On-Cage, used for endoscopic-assisted minimally invasive lumbar interbody fusion. Also, in April 2016, Amendia Inc. launched OmegaLIF expandable lumbar interbody device. The device is an expandable interbody cage designed for the use in the intervertebral body spinal fusion procedures. The launch of new products to meet the increasing need for spinal cord injury treatments provides an excellent opportunity for manufacturers to increase their market share in the global thoracolumbar spine devices market.
Regulatory compliance is the primary hurdle that challenges almost all the industries, including the thoracolumbar spine devices industry. The growing prevalence of spinal cord injuries, as well as increased awareness regarding the benefit of thoracolumbar spine device techniques among healthcare professionals, have contributed to the rapid increase in the demand for thoracolumbar spine devices for the treatment of various spine-related disorders. Although the regulations serve to improve and maintain the quality of devices, the stringency also contributes to curb the growth of the thoracolumbar spine devices market, especially in developing regions such as Asia-Pacific.
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Profiles of 104 companies operating in the Thoracolumbar Spine Devices Market market, including revenue, employee count, and market positioning where available.
Showing 104 of 104 companies
STRYKER CORPORATION
Company Headquarters: Michigan, US Founded: 1941 Workforce: ~36,000 Company Working: Stryker Corporation (Stryker) is engaged in developing, manufacturing, and marketing specialty surgical and medical products. The company's products include implants, biologics, surgical, neurologic, ear, and throat and interventional pain equipment, endoscopic, surgical navigation, communications, and digital imaging systems, along with patient handling and emergency medical equipment. It has classified its products into three major categories, namely, medical and surgical equipment, orthopedics, and neurotechnology. Stryker had 7,784 patents globally till 2018. It is also listed on the New York Stock Exchange. It was also one of the Fortune 500 companies in 2018.
MEDTRONIC PLC
Company Headquarters: Dublin, Ireland Founded: 1949 Workforce: ~91,000 Company Working: Medtronic plc (Medtronic) is a global healthcare solutions company that focuses on improving the lives of people through medical technologies, solutions, and services. The company with Covidien has accelerated and advanced its abilities to create meaningful innovations for hospitals, health systems, and healthcare providers. The company’s businesses majorly fall into four groups: the Cardiac and Vascular Group (CVG), the Restorative Therapies Group (RTG), the Diabetes Group, and the Minimally Invasive Therapies Group (MITG). Medtronic operates from over 370 locations in almost 160 countries. The company has been at the forefront of the cardiac telemedicine industry with patented technologies such as ambulatory devices with unified analysis & reporting software and on-site diagnostic systems. The company is committed to advancing science in patient monitoring. The company is awarded more than 4,600 patents.
DEPUY SYNTHES
Company Headquarters: Massachusetts, US Founded: 1895 Workforce: 18,000 + Company Working: DePuy Synthes is a subsidiary of Johnson & Johnson Services, Inc. The company is involved in manufacturing and marketing of orthopedic and neurological devices. It operates through business segments including joint reconstruction, trauma, spine, sports medicine, neuro, cranio-maxillofacial, power tools, and biomaterials. Additionally, it is engaged in manufacturing of reconstruction solutions for hip, knee, and shoulder replacement and trauma devices for internal and external fixation, implants, and instruments. It is directly present in more than 60 countries and operates in all major markets.
B. BRAUN MELSUNGEN AG
Established in 1839 and headquartered in Germany, B.Braun is a leading healthcare supplier. The company provides its products for hospitals, surgeries, private practices (medical care and doctors´ offices), and extracorporeal blood treatments. The company’s product segments include clinical nutrition, urinary care, infection prevention, insulin therapy, diabetes care, neurosurgery, extracorporeal blood treatment, IV drugs, orthopaedics, spine, and wound care, amongst others. B.Braun operates in four major divisions, namely, Hospital Care, Aesculap, Out Patient Market, and B. Braun Avitum. With these four divisions, the company has a wide range of products with about 5,000 products, out of which 95% of the products are manufactured by the company. Geographically the company operates in 64 countries in regions such as Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The company generated a revenue of about USD 6672 million in 2015 with a head count of more than 55,000 employees all around the globe.
Novavax, Inc.
Company Headquarters: Maryland, US Founded: 1987 Workforce: ~2,500 Company Working: Novavax, Inc. is a biotechnology company that commercializes and develops vaccines to prevent a wide range of infectious diseases. It designs recombinant nanoparticle vaccine technology that produces a strong immune response against a variety of pathogens. It is partnered with leading biopharma organizations, government agencies, research institutions, and foundations, namely the Coalition for Epidemic Preparedness Innovations (US), the Joint Program Executive Office for Chemical, Biological, Radiological, and Nuclear Defense (US), the Serum Institute of India Pvt. Ltd. (India), SK Bioscience (South Korea), CPL Biological (India), and Takeda Pharmaceuticals (US). It has seven research and manufacturing facilities. It has presence in regions namely North America, Europe, and the Middle East and Africa
Ology Bioservices, Inc
Company Headquarters: Florida, US Founded: 1999 Workforce: ~800 Company Working: Ology Bioservices, Inc. is an integrated biopharmaceutical company that develops and manufactures biopharmaceuticals and medical devices. It specializes in cell therapy, gene therapy, viral vectors, antibodies, oncolytic viruses, biopharmaceutical manufacturing, and vaccines. It has collaboration and partnerships with recognized government agencies, namely the Department of Defense and Medical Countermeasures Advanced Development and Manufacturing, which support it in developing biodefense products. Moreover, it has decades of experience in developing, licensing, and manufacturing proteins, therapeutics, and vaccines. It develops products to offer both commercial customers and US governments. Furthermore, it is a wholly owned company of National Resilience, Inc. (US), and assisting Resilience through its services includes regulatory support from preclinical through licensure and cGMP manufacturing up to biosafety level 3 (BSL3).
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Thoracolumbar Spine Devices Market