SEATTLE, July 12, 2022 /PRNewswire/ -- According to Coherent Market Insights, the global spinal fusion devices market is estimated to be valued at US$ 9,175.04 million in 2022 and is expected to exhibit a CAGR of 4.6% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Spinal Fusion Devices Market:
Lack of alternative therapy and treatment approach for spine disorders like spondylitis, spinal deformities is expected to be the major driving factor for growth of the global spinal fusion devices market. Surgical procedures provide permanent solution to spinal problems, as they help regain spinal cord stability, integrity, and achieving decompression of the vertebrae.
Market Dynamics
Frequent approvals of innovative products like Aerial Interspinous Fixation, Coalition Agx is expected to drive the global spinal fusion devices market growth. For instance in 2018, Orthofix International N.V., received U.S. Food and Drug Administration 510(k) clearance for FORZA XP Expandable Spacer System. FORZA XP is designed to restore normal disc height in patients suffering from degenerative disc disease.
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Key Market Takeaways:
Global spinal fusion devices market is expected to exhibit a CAGR of 4.6% over the forecast period, owing to rapid product launches by key players present in market. For instance, VGI Medical, LLC, launched VerteLP Lateral Interbody Fusion System in 2017, which provides advantages such as limitation of axial rotation with the help of bilateral plate fixation system to increase the stability of the segments of spin and avoids pedicle screws.
North America is the dominant region in market over the forecast period, owing to increasing prevalence of spine disorder due to obesity in the U.S. For instance, in September 2021, according to a survey conducted in the U.S. By the National Center for Health Statistics, more than 65 million U.S. citizens suffer from lower back problems. Evolving lifestyle and food consumption methods in the region such figures are expected to increase further. The degenerative spinal disorders are also expected to increase, along with a likely increase in spinal problems in obese populations owing to increased obesity which will further boost market growth during the forecast period.
Key players operating in the global spinal fusion devices market include Zimmer Biomet Holdings, Inc., Stryker Corporation, Inc., Exactech, Inc., Orthofix International N.V., Globus Medical, Inc., NuVasive, Inc., Medtronic Plc., Depuy Synthes, B. Braun Melsungen AG, Wenzel Spine, Inc., K2M Group Holdings, Inc., Centinel Spine, Inc., and Spineart Geneva SA.
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Detailed Segmentation:
Global Spinal Fusion Devices Market, By Device Type:
- Spinal Plating Systems
- Interbody Cages
- Pedicle Screw Systems
Global Spinal Fusion Devices Market, By Procedure Type:
- Cervical Spine
- Anterior cervical discectomy and fusion
- Anterior cervical corpectomy and fusion
- Posterior cervical decompression and fusion
- Thoracic spine
- Anterior decompression and fusion
- Posterior instrumentation and fusion
- Lumbar Spine
- Posterolateral Fusion (PLF)
- Interbody Fusion
- Anterior lumbar interbody fusion (ALIF)
- Posterior lumbar interbody fusion (PLIF)
- Transforaminal lumbar interbody fusion (TLIF)
- Transpsoas interbody fusion (DLIF or XLIF)
Global Spinal Fusion Devices Market, By End User
- Hospitals
- Ambulatory Surgical Center
- Orthopedic Center
Global Spinal Fusion Devices Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- Europe
- By Country:
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Country:
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- By Country:
- GCC Countries
- Israel
- South Africa
- Rest of Middle East & Africa
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Adult Spinal Deformity Market, by Product Type (Cervical Fixation Devices, Interbody Fusion Devices, Thoracolumbar Devices, and Others), by Application (Complex Deformity, Degenerative Disc Disease, Trauma and Facture, and Others), by End User (Hospitals & Specialty Clinics, Ambulatory Surgical Centers, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028
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