spinal fusion devices market

Spinal Fusion Devices Market Size Worth USD 8.90 Billion by 2027

The developments in spine surgery technology, the rising frequency of spinal illnesses, the introduction of enhanced bone grafting materials, and the growing use of minimally invasive spine procedures are all driving this industry. However, the high cost of spinal surgery and reimbursement

uncertainty are projected to limit market expansion throughout the projection period.

In 2019, the thoracic fusion & lumbar fusion devices sector had the highest market share by product.
Thoracic and lumbar fusion devices, cervical fusion devices, spine biologics, non-fusion devices, vertebral compression fracture therapy devices, spinal decompression devices, and spine bone stimulators are the different types of spinal implants and surgery equipment. In 2019, the market for spinal implants and surgery devices was led by the thoracic fusion and lumbar fusion devices segment. The growing incidence of lumbar degenerative disc disease, as well as the increasing number of product launches, can be linked to this segment’s substantial share.

The global market for spinal implants and surgery devices is expected to grow at a CAGR of 5.0 percent from USD 10.3 billion in 2019 to USD 13.8 billion in 2025.

 

spinal fusion devices market
spinal fusion devices market

The spinal fusion and fixation technologies segment accounted for the greatest market share in terms of technology in 2019.

The spinal implants and surgery devices market is divided into four categories based on technology: spinalfusion and fixation, vertebral compression fracture treatment, motion preservation/non-fusion, and spinaldecompression. In 2019, the spinal implants and surgery devices market was dominated by the spinal fusion and fixation technologies segment. The rising incidence of target diseases (such as degenerative disc disease and spinal stenosis) with the growing geriatric population around the world, a growing number of spinal fusion procedures, and technological advancements in spinal fusion techniques and bone grafting procedures can all be attributed to the large share of this segment.

See also  Hydraulic Hose Market 2028 By Product Type, Pressure, End-user and Geography

 

In 2025, open operations will continue to dominate the market for spinal implants and surgery devices.

The spinal implants and surgery equipment market is divided into open operations and minimally invasive surgeries based on the kind of surgery. In 2019, the open operations category accounted for the greatest proportion of the global market for spinal implants and surgery instruments. The growing desire for open spine procedures among medical professionals, the rising incidence of spinal abnormalities, and technological breakthroughs in spinal fusion surgery all contribute to this segment’s size.

 

During the forecast period, the Asia Pacific region is expected to increase at the fastest rate.

North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the five major locations in which spinal implants and surgery devices are sold. The Asia Pacific market is expected to grow at the fastest CAGR over the projected period, owing to improvements in healthcare infrastructure, more awareness, improved reimbursement scenarios, and expanding insurance coverage in numerous APAC nations.

Players in the Market

Medtronic (Ireland), DePuy Synthes (USA), NuVasive, Inc. (USA), Stryker Corporation (USA), B. Braun Melsungen AG (Germany), Zimmer Biomet Holdings, Inc. (USA), Globus Medical, Inc. (USA), Orthofix International N.V. (USA), Abbott Laboratories (USA), RTI Surgical, Inc. (USA), Boston Scientific (USA), SeaSpine Holdings Corporation (USA),

 

In the market for spinal implants and surgery devices, Medtronic (Ireland) was the market leader. Product launches, agreements, partnerships, and collaborations are the company’s primary growth tactics in order to maintain its leadership position and secure future growth. Geographic expansion and the development of low-cost equipment, particularly for poor countries, are major priorities for the corporation. The company is likely to see significant growth in the spinal implants and surgery devices industry in the next years, thanks to its diverse product range and strong geographic presence.

See also  Global Asian Food Market To Witness Impressive Growth, Revenue To Surge To USD 231 Billion By 2028

Product Suggestions

The thoracolumbar devices segment dominated the spinal fusion devices market in 2020, accounting for more than 55.0 percent of total revenue. The segment is being driven even further by the rising incidence of spinal problems such as spinal stenosis, severe kyphosis, and vertebral fracture. In the majority of these cases, surgery is the only choice for treatment. Furthermore, thoracolumbar fractures can be the most common reason for surgical intervention. Road accidents or bone insufficiency are the two most common causes of fractures. Bone insufficiency develops as a result of underlying conditions such as osteoporosis and malignancies, which weaken the bone and lead to fractures.

The cervical segment of the spinal fusion device market is predicted to grow rapidly over the forecast period, owing to an increase in the frequency of cervical spondylosis among corporate executives. Cervical spondylosis is a frequent condition that is expected to account for 2% of all hospital admissions in the United States by 2020. In people over the age of 55, it is the most common cause of spinal cord impairment. 90 percent of women over 60 and 90 percent of males over 50 have signs of degenerative alterations in the cervical spine, which is likely to support segment expansion in the coming years, according to radiologic results.
Insights into Disease Types

In 2020, the degenerative disc category dominated the market for spinal fusion devices, accounting for nearly 42.0 percent of total revenue. The category is being driven by growing reasons for lower back and neck discomfort in adults, as well as an increase in the senior population. In addition, the growth of sports and daily activities is predicted to contribute to category expansion.

See also  Easy Online Marketing in Your Leisure Time

Over the projected period, the market for spinal fusion devices is expected to rise rapidly in the difficult deformity segment. As medical care improves and life expectancy rises, the demographics of the old population in the United States are changing dramatically. Furthermore, the baby boomers are the fastest-growing population in the United States, with the number of people aged 65 and up expected to reach 89 million by 2050, more than double its current size, raising revenue even more.

Insights into Surgery

Because minimally invasive surgery is the preferred method for spinal fusion surgeries, it led the market for spinal fusion devices in 2020, accounting for 64.0 percent of total revenue. According to a poll conducted in the United States in 2019, the surgeon’s suggestion, complication risk, and long-term outcomes were the three most important factors for patients when deciding between MIS and open surgery. When compared to MIS surgery, most patients found open surgery to be more painful, with a higher risk of complications, a longer recovery period, and the need for greater anaesthesia. Furthermore, most patients in both groups would select a minimally invasive procedure if they needed spine surgery in the future. Over the projection period, the aforementioned variables are expected to boost revenue.

End-User Perspectives

In 2020, hospitals dominated the market for spinal fusion devices, accounting for nearly 57.0 percent of total revenue. One of the elements propelling the market is the increasing number of spine procedures conducted in hospitals. In emerging countries like India, growing government measures to improve healthcare infrastructure and expand the middle-class population are resulting in increased demand for excellent healthcare services offered by hospitals, which is helping the category grow.

Read also:Nerve Monitoring Systems Market