Your Shopping Cart Is Empty
| ✷ Report Code: A01626 | Mar 2022 | Pages: 230 | ||
| Tables: 120 | Charts: 54 |
| |
The global spinal fusion devices market size was valued at $7,030.1 million in 2020, and is projected to reach $11,434.1 million by 2030, growing at CAGR of 4.6% from 2021 to 2030. Growth of the market is driven by increase in geriatric population and rise in incidences of spinal disorders. Spinal fusion devices are used for treatment of spinal deformities such as degenerative disc disease and spondylolisthesis. Growth of the market is driven by increase in geriatric population and rise in incidences of spinal disorders. In addition, expansion in indications for which spinal fusion surgery is performed boosts the market growth. For instance, originally spinal fusion was performed solely for scoliosis and spinal tuberculosis, however, there are 14 conditions for which spinal fusion procedure is currently indicated. In addition, in 2020 there were 1,53,288 anterior cervical discectomy and fusions were performed in the U.S and the volume is expected to increase by 13.3% by 2040.
 The COVID 19 impacted on the sales of spinal fusion devices manufacturers, owing to halted supply chain, and prolong lockdown implemented globally, which restraints for the growth of the market.
Â
Spinal disorders such as spinal stenosis is the most common problem in men and women over 50 years. Ageing population is at a high risk for spinal impairments, including those with comorbidities and/or compromised immunity. Spine level treatment options are continuously evolving with introduction of new age spine fusion and devices. Further, use of these implants and devices is being one of the effective and recommended options for treatment of spine misalignments or degenerative changes. Major factor that contributes toward growth of the spinal fusion devices market include shift toward minimally invasive spins procedures, increase in prevalence of spinal disorders, and advancements in spine surgery. Spinal fusion devices market forecast from 2020 to 2030.
Asia-Pacific possesses high market potential for spinal fusion devices, owing to rise in incidences of spinal disorders and increase in healthcare expenditure. Furthermore, rapidly aging population, low cost of spinal procedures in countries such as India as compared developed countries such as the U.S. have further increased demand for spinal implants. Spinal surgery is performed at over 2,000 hospitals in India, with complex and sophisticated surgeries such as microscopic spine surgery being performed in at least 500 multi-faculty spinal surgery hospitals and super specialty hospitals. Therefore, the aforementioned factors are projected to propel demand for spinal fusion devices.
Major players such as Alphatec Holdings, Inc., B.Barun Melsungen AG, and Stryker Corporation. are adopting acquisition strategy to improve their product portfolio to maintain competition in the market. For instance, in December 2020, Alphatec entered into an agreement to acquire EOS imaging, S.A., which is globally recognized for biplanar full body imaging and 3D modeling capabilities. This acquisition aims to improve the inventory efficiency and product portfolio. Such instances are expected to provide lucrative opportunities for major players for growth of the market. Spinal fusion devices market size are reported from 2020 to 2030.
The coronavirus disease (COVID-19) has spread across the globe. Further, owing to increase in number of corona virus patients, governments have imposed several rules and lockdown across the globe, which has resulted into closure of manufacturing and production operations of companies operating in the spinal fusion devices market. In addition, hospitals have also independently announced reduction, postponement, or cancelation of elective surgeries, including many orthopedic and spine cases as practitioners and surgeons are engaged in treating corona patients. This discontinuity in proceedings of business operations and other related procedures directly influences revenue drift of the market. Therefore, the aforementioned factors are expected to hamper the spinal fusion devices market growth.
However, unfavorable reimbursement scenario and stringent regulatory approval procedure of these devices are expected to limit the market growth. On the contrary, emerging markets are expected to drive demand for spinal implants and devices. In addition, advancements in augmented and virtual reality, endoscopic surgery, and 3D printed implants for minimally invasive surgery is also expected to fuel the market growth.
The global spinal fusion devices market is segmented into product, surgery, and end user. By product, the market is divided into thoracolumbar devices, cervical fusion devices, and interbody fusion devices. Thoracolumbar devices having the largest share for spinal fusion devices industry.Â
By surgery, it is classified into open spine surgery and minimally invasive spine surgery. By end user it is divided into hospitals, specialty clinics, and others. Hospitals segment having the largest spinal fusion devices market share.Â
By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to hold the highest market share during the forecast period.
Â
Â
Spinal Fusion Devices Market Report Highlights
| Aspects | Details |
|---|---|
| Market Size By 2030 | USD 11.4 billion |
| Growth Rate | CAGR of 4.6% |
| Forecast period | 2020 - 2030 |
| Report Pages | 230 |
| By Type |
|
| By Surgery |
|
| By End User |
|
| By Region |
|
| Key Market Players | Zimmer Biomet Holdings, Inc., Globus Medical Inc, Orthofix International N.V., Medtronic Plc, B. Braun Melsungen AG, Alphatec Holdings Inc, Nuvasive Inc, Exactech Inc, Johnson & Johnson, Stryker Corporation. |
Analyst Review
This section provides opinions of CXOs of the companies operating in the global spinal fusion devices market. On the basis of interviews conducted, adoption of spinal fusion devices is expected to increase in the future, owing to advancements in surgical options and rise in incidence rate of spinal impairments globally. The spinal fusion devices market has piqued the interest of healthcare professionals, owing to increase in use of these devices for treatment of spinal deformities.
Increase in demand for minimally invasive surgical options is expected to drive the spinal fusion devices market. Minimally invasive surgical option is preferred to conventional techniques, owing to its associated benefits such as minimal cut or incision, which, in turn, reduces chances of damage caused to adjacent muscles. Moreover, increase in geriatric population also increases demand for spinal fusion devices as they are more susceptible to spinal fractures and disorders. In addition, technological advancements in spinal fusion implants such as use of titanium implants with nano-roughened (micron-level) surface modifications have further led to growth of the market share. However, unfavorable reimbursement scenario and stringent regulatory approval procedures are expected to hamper the market growth. As per CXOs, use of these spinal fusion devices is the highest in North America region, owing to heavy expenditure by governments on healthcare and supportive reimbursement policies, which provides lucrative opportunities for growth of the global spinal fusion devices market.
Spinal disorders such as spinal stenosis, spondylolisthesis, and scoliosis constitutes a major proportion of health and economic burden, hence development of effective spinal fusion devices becomes a vital need for the treatment of the spinal disorders. To alleviate the aforementioned spine-related disorders and improve patient’s quality of life, spinal surgery is emerging as a significant treatment option. Thus, as the demand for spine fusion surgery increases, the demand for spine fusion devices and instrumentation such as rods and screws also increases.
Rise in incidence of spine-related disorders such as stenosis, growth in geriatric population, and increase in prevalence of lifestyle disorders such as obesity have led to increase in adoption of the spinal fusion devices. In addition, use of titanium alloy implants creates a favorable bone–implant contact and superior osseointegration with the surrounding bone, thus fueling the growth of spinal fusion devices market globally.
Advent of better spine surgery treatment options is one of the major factors that drive the growth of this market. For instance, most of the spine surgeons these days prefer minimal invasive surgical techniques for a wide range of spine fusion procedures. This is attributed to minor complication associated with the procedure such as reduced length of hospital stays and less bleeding.
Growth in healthcare expenditure, increase in geriatric population, and rise in incidence of spine impairments offer lucrative growth opportunity for the market in Asia-Pacific. Thus, emerging economies such as China & India possess high potential for the market growth.
A. A rise in spinal diseases, and rise in number of accidents, which are the key trends for the spinal fusion devices market.
A. North America region dominated the market in 2020.
A. Spinal fusion devices are used in applications such as medical, and imaging applications.
A. The market size for Spinal fusion devices are $7,030.1 million in 2020.
A. Stryker Corporation, Alphatec Holdings Inc, and Johnson & Johnson are the top companies which holds the largest market share in Spial fusion devices market.
Start reading instantly.
This Report and over 67,068+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Contact Details
Need to talk to an expert? Book your free consultation and let our research experts help you with your needs/problems.
Global Report 
Regional Report
Country Report
Related Report