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Interbody Fusion Cage Market Expected to Reach $2,309 Million, Globally, by 2023

 
 

quote The recent trend and adoption of minimally invasive surgery poses lucrative opportunities for key market players in the interbody fusion cage market. The surgical procedure is preferred owing to no involvement of long cut or incision, which in turn reduces the chances of damage caused to the muscles surrounding the spine. Therefore, the shift in trend toward minimally invasive surgeries boosts the market growth. quote

Garima Chandra
Senior Research Analyst, Healthcare at AMR

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According to a new report published by Allied Market Research, titled, Interbody Fusion Cage Market by Product, Surgery Type and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global interbody fusion cage market was valued at $1,818 million in 2016, and is projected to reach $2,309 million by 2023, growing at a CAGR of 3.4% from 2017 to 2023. The lumbar segment accounted for about two-sevenths share of the global market in 2016.

Interbody fusion cage are medical devices utilized to provide stability to the spine and the cervical region. Interbody fusion cages are large hollow cylinders made of metals and alloys such as carbon fiber, titanium, and allograft femur. The cages can be filled with autologous bone material to promote arthrodesis (artificial induction of joint ossification).

Rise in geriatric population and increase in spinal cord injuries which might be caused due to accidents and diseases such as degenerative disk disease drive the growth of the market. However, the high cost associated with the spinal fusion surgeries and the dearth of skilled professionals impede the growth of the interbody fusion cage market. Moreover, the increased adoption of minimally invasive surgeries create ample opportunities in the market.

Among the product segment, the cervical segment accounted for about one-fourth share of the total market in 2016. This is due to the increase in cervical fusion surgeries, which helps preserve the motion of the spine without bone grafting. Also, the cervical disc replacement does not require a plate placement directly in the front of the spine.

Among the surgery type segment, the anterior segment accounted for one-third share of the total market owing to the ease in accessing the body from the front section. This results in the increase in anterior interbody fusion surgeries globally.

Key Findings of the Interbody Fusion Cage Market:

  • The thoraco-lumbar segment accounted for about one-fourth share of the total market in 2016, and is expected to register a high CAGR of 3.5% from 2017 to 2023.
  • The hospital segment accounted for two-fifths share of the total market and is expected to grow at a CAGR of 3.1% during the forecast period.
  • U.S. dominated the North America interbody fusion cage market and is projected to retain its trend throughout the forecast period.
  • India is the fastest growing country in the Asia-Pacific interbody fusion cage market, registering a CAGR of 7.1% during the forecast period.
  • The ambulatory surgery center segment accounted for one-fourth of the market share in 2016, and is expected to grow at a high CAGR of 3.4%.

In 2016, North America was the dominant revenue contributor, owing to high prevalence rate of spinal cord injuries. Also, the increase in geriatric population who are prone to spinal injuries and diseases boost the market growth in North America. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period, owing to the presence of high populace countries such as India and China. In addition increase in awareness regarding interbody fusion cage, and rise in disposable income also fuel the market growth.

The key players operating in the global interbody fusion cage market are Aurora Spine, Inc., B. Braun Melsungen AG, Benvenue Medical, Inc., Ulrich Medicals USA, Prodorth, Orthofix International, N.V., Medtronic, plc, Zimmer Biomet, Inc., NuVasive, Inc., and Johnson & Johnson (DePuy Synthesis). Other players operating in the value chain are Biomet USA, Globus Medical USA, Spineart France, Precision Spine USA, Medacta Switzerland, and K2M USA.

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quote Interbody Fusion Cage Market by Product (Lumbar, Cervical, Thoraco-lumbar, and Thoracic), Surgery Type (Anterior, Transforaminal, Posterior, and Lateral), and End User (Hospital, Clinic, Ambulatory Surgical Center, and Others) - Global Opportunity Analysis and Industry Forecast, 2017-2023 quote

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