Advancements in spinal surgeries have accelerated uptake of polyether ether ketone (PEEK) interbody devices. These devices are implanted in order to facilitate spinal fusion. Such surgeries are designed to inhibit motion at a painful vertebral segment.
Developed for the US aerospace industry, PEEK devices are now being incorporated across the healthcare domain to facilitate numerous surgical procedures. These implants are bone-friendly and more compatible with diagnostic imaging.
According to Future Market Insights (FMI), PEEK devices will grow at 7.7% CAGR from 2020-2030.
Advancements in Spinal Implants
As the global geriatric population expands, the incidence of spinal disorders has multiplied. Consequently, healthcare providers have been intensifying research to discover innovative solutions for the problem.
PEEK interbody devices are an outcome of this research, with some of the earliest devices being used in the 1980s, followed by widespread clinical acceptance in the subsequent decade.
Provision of a bone-like modulus, high radiolucency to ensure accuracy and greater biocompatibility have all contributed to increasing PEEK interbody devices adoption for spinal procedures, and is likely to remain so in the future.
Demand for Organic Polymers
Heightening environmental concerns over the usage of synthetic polymers to manufacture medical implants have accelerated growth prospects for organic polymers in recent years.
PEEK interbody devices are a class of organic thermoplastic polymers which have acquired a V-O flammability rating as they produce minimal toxic emissions when exposed to a flame. Based on this characteristic, it has been a preferred choice of material across various end-use applications.
Additionally, polyether ether ketone thermoplastics are recyclable, thus increasing their uptake in the healthcare industry to produce interbody devices on a large-scale.
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Increasing Legislative Approvals
The multifarious advantages offered by PEEK interbody devices has led regulatory authorities worldwide to increase their uptake.
For instance, in 2018, Vallum Corporation, a prominent medical devices manufacturer, received approval from the U.S. FDA to market its PEEK spinal interbody fusion device named PEEKPlus.
Rising Demand for Minimally Invasive Surgeries
Current advancements in surgery are centered on developing minimally invasive spine technologies to reduce trauma for the patients. PEEK implants are being deployed across minimally invasive spine implants for reducing tissue dissection and nerve root retraction.
Vertebral Technologies Inc., a prominent PEEK implants manufacturer, specializes in minimally invasive interbody devices. Its product line includes the Interfuse Interbody System which provides a large anterior lumbar interbody fusion sized cage footprint through a less invasive approach.
High Capital Expenditure an Impediment
Healthcare organizations have to appropriate a significant budget percentage to acquire PEEK interbody devices as they are generally expensive and difficult to procure. Consequently, many practitioners are discouraged from acquiring these devices, thus restraining growth.
North America PEEK Interbody Devices Market
The North American PEEK interbody devices market is set to pivot growth, acquiring nearly 70% revenue share through 2030.
High prevalence of degenerative disc disease is prompting patients to seek treatment, thereby heightening adoption across healthcare settings. Across the U.S., over 3% of patients are diagnosed with degenerative disc disease while 500,000 have spinal stenosis.
Furthermore, rising approvals from the FDA is driving the region’s interbody devices market to newer heights.
These trends are ideal for the PEEK interbody devices to spawn across the North American market for the 2020-2030 forecast period.
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East Asia PEEK Interbody Devices Market
East Asia is likely to be the 2nd largest market, owing to surging advancements in healthcare technology.
Surging disposable incomes are prompting people to seek treatment for several life-threatening conditions, compelling governments to improve existing healthcare infrastructure across these nations.
Various prominent vendors such as Medtronic Plc., Stryker Corporation, Zimmer Biomet Holdings Inc. and Alphatec Holdings Inc. have consolidated their influence across the East Asian markets, with most manufacturing units situated across China.
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Europe PEEK Interbody Devices Market
The European PEEK interbody devices market is expected to reach US$ 271.5 Mn by 2030. High incidence of lower back pain amongst patients is likely to accelerate the need to undergo spinal surgery, keeping demand for interbody devices sustained.
According to studies, around 60-90% of people suffer from low back disorders at some point of their lives. A survey concerning workplace habits in Europe revealed that 30% of the workers suffer from back pain and is the root cause of later problems.
To offset this alarming rise, healthcare providers are incorporating various minimally invasive spinal implanting techniques, thereby opening frontiers for the PEEK interbody devices market to proliferate.
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Interbody Fusion Devices Remain Dominant
By product type, interbody fusion devices are to be the most extensively utilized through 2030, expanding at 7.7% CAGR. Amongst all device, the transforminal lumbar interbody fusion (TLIF) devices shall generate nearly half of the revenue share.
Trailing behind is the posterior lumbar interbody fusion (PLIF) device segment, expected to generate nearly 30% of the global revenue share. Minimally invasive nature combined with enhanced patient compliance are expected to pivot interbody fusion devices growth.
Hospitals to be Primary End-Users
Maximum uptake is witnessed across hospitals, owing to increasing number of footfalls by patients to address internal joint problems.
Specialty clinics are increasingly incorporating interbody fusion devices. A CAGR of 6.5% is projected for the segment, along with an incremental $ opportunity worth US$ 483.6 Mn.
COVID-19’s Impact on PEEK Interbody Devices Market
The novel coronavirus pandemic has had varying impacts across the global polyether ether ketone interbody devices market. In the first stage, strict lockdowns and social distancing measures led to a drastic decline in industrial output, creating immense shortages of the devices across various healthcare settings.
Furthermore, greater emphasis was laid on caring for COVID-19 positive patients, leading to postponement of elective surgical procedures such as spinal correction or implantation, causing a substantial decline.
As the incidence of infections receded, the market has been experiencing a gradual incline. Flattening infection curves have enabled countries to ease lockdown restrictions, leading to a resumption of output which has largely balanced the demand-supply equation.
Moreover, spinal implant procedures are resuming, with hospitals and clinics registering a fall in the number of SARS-CoV-2 patients. Considering this recovery scenario, the global PEEK interbody devices is anticipated to rebound starting from 2021.
PEEK Interbody Devices Manufacturers
Prominent players within the global PEEK interbody devices landscape are focusing on expanding existing manufacturing capabilities, product innovations, forays into untapped markets and strengthening core competencies.
Some of the players included in the scope of this report include, but are not limited to*:
- Zimmer Biomet Holdings Inc.,
- Medtronic Plc.,
- Stryker Corporation,
- B. Braun Melsungen AG,
- SeaSpine Holdings Corporation,
- Shandong Weigao Group Medical Polymer Company Limited.
- Alphatec Holdings Inc.,
- Xtant Medical Holdings Inc.
- Life Spine Inc.
*This list is indicative- full details about the PEEK Interbody devices players is available upon request.
Amongst the abovementioned vendors, Zimmer Biomet, Medtronic Plc, Stryker Corporation and Shandong Weigo Group are the topmost players operating within the landscape.
In June 2020, Zimmer Biomet announced the incorporation of new enhanced features of its mymobility® care management system which was introduced in collaboration with Apple in October 2018. These features will assist healthcare professionals to enhance decision-making processes concerning major surgeries by incorporating higher precision.
In October 2020, Medtronic plc reported that over 84% of chronic back pain patients treated with its DTMTM Spinal Cord Stimulation Therapy reported at least 50% pain relief since the system’s inception a year earlier. This has encouraged the company to keep investing in better pain management technologies.
In 2013, Stryker Corporation successfully acquired MAKO Surgical Corp. with the objective of furthering its growth in the robotic arm assisted surgery in orthopedics.
PEEK Interbody Devices Market Report: Scope
Historical Data Available for
US$ Mn for Value
Key Regions Covered
North America, Latin America, Europe, Middle East & Africa (MEA), East Asia, South Asia & Oceania
Key Countries Covered
U.S., Canada, Mexico, Brazil, U.K., Germany, France, Italy, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Australia, New Zealand, GCC, Turkey & South Africa
Key Segments Covered
Product Type & End-Users
Key Companies Profiled
Zimmer Biomet Holdings Inc., Medtronic Plc., Stryker Corporation, B. Braun Melsungen AG, SeaSpine Holdings Corporation, Shandong Weigao Group Medical Polymer Company Limited., Alphatec Holdings Inc., Xtant Medical Holdings Inc., Life Spine Inc., Beijing Fule Science & Technology Development Co. Ltd., Double Medical Technology Inc., Zavation LLC., DiFusion Technologies Inc. and Canwell Medical Co. Ltd.
Market Overview, Key Market Trends, Key Success Factors, COVID-19 Crisis Analysis, Market Background, Sales Analysis, Demand Analysis, Segmental Analysis, Regional Profiling, Market Structure Analysis & Competition Analysis
Customization & Pricing
Key questions answered in the report
- What is the projected PEEK interbody devices market size?
According to Future Market Insights (FMI), the global PEEK interbody devices market is expected to be valued at US$ 3.7 billion by 2030, registering a positive CAGR of 7.7% across the assessment period
- What drives the global PEEK interbody devices market?
Increasing applications to correct spinal anomalies, demand for organic-polymer derived medical devices to protect the environment and a growing preference for minimally invasive surgeries are all slated to drive the global PEEK interbody devices market
- Which is the most preferred PEEK interbody device type?
Transforaminal lumbar interbody fusion (TLIF) devices are the most widely used across different healthcare settings, attributed to its minimally invasive nature, leading to high patient compliance. However, posterior lumbar interbody fusion (PLIF) devices are expected to surge as well
- How has COVID-19 impacted PEEK interbody device market growth?
In the initial stages, the COVID-19 pandemic led to a substantial growth deceleration due to halting production cycles in the wake of stringent lockdowns. Moreover, priority to address COVID-19 patients led to postponement of elective surgeries such as spinal implantation to a later date, thus impacting demand.
However, as countries gradually return to normal in the wake of declining infection rates, growth prospects appear significantly promising, with projections expected to return to pre-COVID levels by 2021. Resumption of production cycles and elective surgeries in hospitals will help reorient growth projections in the remainder of the forecast period
- Which are the prominent PEEK interbody devices market players?
Prominent players profiled in FMI’s PEEK interbody devices market include Zimmer Biomet Holdings Inc., Medtronic Plc., Stryker Corporation, B. Braun Melsungen AG, SeaSpine Holdings Corporation, Shandong Weigao Group Medical Polymer Company Limited., Alphatec Holdings Inc., Xtant Medical Holdings Inc. and Life Spine Inc. among others.
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- Posterolateral Fusion Devices
- Interbody Fusion Devices
- Anterior Lumbar Interbody Fusion Devices (ALIF)
- Extreme Lateral Interbody Fusion Devices (XLIF)
- Posterior Lumbar Interbody Fusion Devices (PLIF)
- Transforaminal Lumbar Interbody Fusion Devices (TLIF)
- Other Devices
- Ambulatory Surgical Centers
- Specialty Clinics
- North America (U.S & Canada)
- Latin America (Brazil, Mexico, Argentina & Rest of Latin America)
- Europe (Germany, Italy, France, U.K., Spain, BENELUX, Russia & Rest of Europe)
- South Asia (India, Thailand, Indonesia, Malaysia & Rest of South Asia)
- East Asia (China, Japan & South Korea)
- Oceania (Australia & New Zealand)
- Middle East & Africa (GCC, South Africa & Rest of MEA)