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Spinal Fusion Devices Market to Display a CAGR of 3.6% till 2026; Increasing Geriatric Population Worldwide to Fuel Market Growth

November 27, 2019 | Healthcare

The global spinal fusion devices market size is projected to reach USD 8.45 billion by 2026. Timely regulatory approvals to new products will prove to be one of the key drivers of growth for this market. As per the Fortune Business Insights report, titled “Spinal Fusion Devices Market Size, Share & Industry Analysis, By Product Type (Cervical Devices, Thoracolumbar Devices, Interbody Devices, and Biologics), By Disease Indication (Degenerative Disc Disease, Complex Deformity, Traumas & Fractures, and Others), By End User (Hospitals & Ambulatory Surgery Centers, Specialty Clinics and Others) and Regional Forecast, 2019-2026”, the value of the market stood at USD 6.37 billion in 2018 and is expected to register a CAGR of 3.6% from 2019 to 2026.


Rising Demand for Advanced Medical Techniques to Bolster Sales


The market is witnessing furious development of novel medical procedures that will reduce patient discomfort as much as possible. This has been further augmented by the rising global demand for minimally invasive surgical methods, which has intensified competition in the spinal arthrodesis devices market. For instance, in July 2019, InVictus, a spinal fixation system designed for minimally invasive as well as open surgical procedures, was introduced by Alphatec Spine. Such innovations, coupled with the advent of robot-assisted surgeries, will boost the spinal fusion devices market growth during the forecast period.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/spinal-fusion-devices-market-101689


Spinal Fusion Devices Market Segmentation:



  • By Product Type: Under this segment, the market is divided into cervical devices, thoracolumbar devices, interbody devices, and biologics. Here, thoracolumbar devices will lead the pack owing to increasing incidence of lumbar spine degeneration and wider availability of thoracolumbar fixation devices. Furthermore, the spinal fusion devices market trends show that cervical devices will hold firm ground with a share of 23.1% on account of increasing adoption of spine navigation technologies and favourable health insurance schemes. The other segments will also showcase considerable growth during the forecast period.

  • By Disease Indication: Under the segment, the market is categorized into degenerative disc disease, complex deformity, traumas & fractures, and others. Here, degenerative disc disease will hold a commanding position in the market owing to the growing preference for spine fusion surgery for treating this disease. The next segment with the highest growth potential will be complex deformity as a result of increasing number of birth deformity cases. The remaining two segments will also rise positively, according to the spinal fusion implants market forecast.

  • By End User: Under this segment, the market is categorized into hospitals & ambulatory surgery centers, specialty clinics, and others. Rising uptake of advanced spinal treatments will aid the hospitals & ambulatory surgery centers segment dominate the market. The specialty clinics segment will experience high growth as the number of professional spine surgeons goes up.

  • By Region: Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Here, North America is slated to dominate the spinal fusion devices market share as the region had generated a revenue of USD 3.02 billion in 2018. The prime reasons for its continued dominance include rapid increase in the number of spinal fusion procedures in ambulatory surgical centers and growing acceptance of surgical robots. Other regions also hold promising prospects for the market and are anticipated to exhibit impressive growth.


Concentrated Competition to Characterize the Market


Competition in this market is marked by the presence of a few major companies that are deepening their position through acquisitions and new product launches. Among these, Medtronic is expected to emerge as a prominent participant owing to its well-established distribution networks and focus on spine fusion implant products.


Major market players include:



  • Aesculap, Inc. (B. Braun Melsungen AG)

  • NuVasive, Inc

  • Medtronic

  • Alphatec Spine, Inc.

  • RTI Surgical Holdings, Inc.

  • Stryker

  •  DePuy Synthes (Johnson & Johnson Services, Inc.)

  • Zimmer Biomet


Key industry developments include:



  • January 2019: Medtronic launched its robotic spine surgery system called Mazor X Stealth Edition. It is designed in such a way that it can be seamlessly used with the company’s other spine implants, navigation systems, and 3D imaging tools.

  • August 2019: SeaSpine Holdings Corporation commercially launched the Shoreline RT Cervical Interbody Implant System for anterior cervical discectomy fusion surgeries and is designed to integrate the company’s NanoMetalene technology with Reef Topography.


Global Spinal Fusion Devices Market Scope











































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



 Value (USD Million)



Segmentation



By Product Type



  • Cervical Devices

  • Thoracolumbar Devices

  • Interbody Devices

  • Biologics



By Disease Indication



  • Degenerative Disc Disease

  • Complex Deformity

  • Traumas & Fractures

  • Others



By End User



  • Hospitals & Ambulatory Surgery Centers

  • Specialty Clinics

  • Others



By Geography



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East and Africa ( South Africa, GCC, and Rest of Middle East & Africa)


Spinal Fusion Devices Market
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  • 2015-2017
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