Global Thoracolumbar Spine Devices Market Overview
Thoracolumbar Spine Devices Market Size was valued at USD 6.3 Billion in 2023. The Global Thoracolumbar Spine Devices industry is projected to grow from USD 6.54 Billion in 2024 to USD 8.66 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.60% during the forecast period (2024 - 2032). Thoracolumbar 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 increasing obese population, high prevalence of spinal cord injuries (SCI), and increasing geriatric population are expected to enhance market growth. However, the stringent regulatory policies, lack of awareness for the use of advanced technologies, and product recalls are projected to curb the growth of the market.
Market Dynamics
The market is expected to witness a profitable growth owing to the high prevalence of spinal cord injuries (SCI). According to a study published by the National Spinal Cord Injury Statistical Center in 2019, the annual incidence of SCI is approximately 54 per million people in the US or around 17,730 new cases each year. The approximate number of individuals affected by SCI in the US is 291,000. High prevalence of spinal cord injuries, in turn, increases the demand for thoracolumbar spine devices used in diagnosis. Thus, an increase in the prevalence of spinal cord injuries is expected to boost the global thoracolumbar spine devices market during the forecast period.
Thoracolumbar Spine Devices Market Share, by Product Type, 2018 (%) 
Source: MRFR Analysis
Thoracolumbar Spine Devices Market Segment Insights
The thoracolumbar spine devices market, by product type, has been segmented into spinal implants, devices and instrumentation and spine biologics.
Thoracolumbar Spine Devices Product Type Insights
Based on the type of surgery, the thoracolumbar spine devices industry has been categorized as open surgery and minimally invasive surgery (MIS). The material segment is further segmented as titanium, stainless steel, biomaterials, and others.
Thoracolumbar Spine Devices End-user Insights
Based on end-user, the thoracolumbar spine devices has been categorized as hospitals and clinics, ambulatory surgery centers, academic institutes and research centers, and others.
Asia-Pacific Thoracolumbar Spine Devices Market Share, 2018 (%) 
Source: MRFR Analysis
Thoracolumbar Spine Devices Regional Insights
The thoracolumbar spine devices market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
Americas accounted for the largest market share of in 2018, due to the presence of key market players, sophisticated healthcare infrastructure, and increasing R&D in the field of thoracolumbar spine devices.
Europe is anticipated to account for the second-largest market share during the forecast period. The market growth in Europe can be attributed to the research and development by manufacturers for the launch of innovative products. For instance, ZygoFix Ltd, in 2018, initiated the first in a human clinical study for its clock spinal facet joint fixation system.
Asia-Pacific is likely to be the fastest-growing region in the thoracolumbar spine devices market. The high growth rate is due to owing to the presence of a large patient base, availability of skilled healthcare personnel, and a defined regulatory framework enabling accelerated product approvals. India held a share of 16.2% in the Asia-Pacific thoracolumbar spine devices market in 2018.
The Middle East & Africa market is projected to show gradual growth during the forecast period. The Middle East would spearhead the market growth, attributing to facts such as the developing healthcare infrastructure, booming medical tourism, budding medical device industry, and gradually increasing adoption of medical diagnosis modalities in the Gulf Cooperation Council (GCC).
Prominent Players
The Prominent Players in Market are
- Orthofix Holdings, Inc. (US)
- Alphatech holdings, Inc. (US)
- B. Braun Melsungen AG (Germany)
- Depuy Synthes (US)
- Exactech, Inc. (US)
- Globus Medical, Inc. (US)
- Medtronic PLC (Ireland)
- NuVasive, Inc. (the US)
- ZIMMER BIOMET HOLDINGS, INC. (US)
- STRYKER CORPORATION (US)
Some of the key strategies followed by players operating in the thoracolumbar spine devices industry were product launch, patent acquisition, partnership, product expansion, and collaborations.
- In March 2018, Stryker’s spine division received the FDA clearance for 3d-printed titanium TL curved posterior lumbar cage. This cage offers alternative posterior lumbar solutions for spinal surgeons.
- In January 2017, Depuy Synthes entered into an asset purchase and development agreement with Interventional Spine, Inc. which enabled the company to add a family of expandable cages used in the spinal fusion surgery.
- In February 2017, Alphatec launched the Arsenal Deformity Adolescent Scoliosis (AIS) system in limited markets in the US. This launch expanded the arsenal spinal fixation system portfolio of the company.
Thoracolumbar Spine Devices Market Segmentation
Thoracolumbar Spine Devices Product type Outlook
Thoracolumbar Spine Devices Type of Surgery Outlook
- Open Surgery
- Minimally Invasive Surgery (MIS)
Thoracolumbar Spine Devices Material Outlook
- Titanium
- Stainless Steel
- Biomaterials
- Others
Thoracolumbar Spine Devices End User Outlook
- Hospitals and Clinics
- Ambulatory Surgery Centers
- Academic Institutes and Research Centers
- Others
Thoracolumbar Spine Devices Region Outlook
- Americas
- North America
- Latin America
- Europe
- Western Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Asia-Pacific
- Japan
- China
- India
- South Korea
- Australia
- Rest of Asia-Pacific
Available Additional Customizations
- Company Profiles of Other Key Players
- RTI Surgical Holdings, Inc.
- Alliance Spine
- Life Spine, Inc.
- Thoracolumbar Spine Devices Market, Industry Trends
Intended Audience
- Medical device manufacturers
- Research & development organizations
- Academic institutes
Frequently Asked Questions (FAQ) :
thoracolumbar spine devices market is projected grow at approximately 5.60% CAGR during the assessment period (2024-2032).
The valuation of the global thoracolumbar spine devices market is estimated to increase to USD 8.66 Billion by the end of 2032.
Based on product type, the spine biologics segment and based on end user the hospitals & clinics segment holds the majority shares in the global thoracolumbar spine devices market.
North America holds the largest share in the global thoracolumbar spine devices market, followed by Europe and the Asia Pacific, respectively.
Alphatech holdings, Inc. (US), Orthofix Holdings, Inc. (US), B. Braun Melsungen AG (Germany), Exactech, Inc. (US), Depuy Synthes (US), Globus Medical, Inc. (US), NuVasive, Inc. (US), Medtronic Plc (Ireland), Stryker Corporation (US), and Zimmer Biomet Holdings, Inc. (US), are some of the major players operating in the global thoracolumbar spine devices market.
