Spinal Fusion Devices Market Size Worth USD 8.90 Billion by 2027
Vancouver, British Columbia, March 01, 2021 (GLOBE NEWSWIRE) — The global Spinal Fusion Devices Market will be worth USD 8.90 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing advancements in surgical technology. The improvements in surgical technology have made spinal fusion surgeries more effective, which has resulted in the increasing adoption of spinal fusion surgeries and devices by healthcare professionals. Increasing preference among patients towards surgeries, which will cause speedy recovery, less pain, and shorter hospital stays, has resulted in the increasing demand for minimally invasive spine surgeries. The rising adoption of surgical robots for spine fusion surgeries to make the surgeries more efficient is expected to drive the growth of the spinal fusion devices market.
The risks associated with spinal fusion surgeries and the high cost of the surgery is expected to hamper the demand for spinal fusion devices. Stringent government regulations on device approval might be a restraining factor to the growth of the spinal fusion devices market.
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Key Highlights From The Report
- In August 2019, NuVasive, Inc. wanted to transform spine surgery with minimally disruptive and procedurally integrated solutions, and so the company announced the commercial launch of Modulus ® TLIF-A. The Modulus ® TLIF-A is a porous titanium spine implant engineered for the transforaminal lumbar interbody fusion (TLIF) procedure.
- The thoracolumbar Devices segment held the largest market share of 45.3% in 2019. The rising incidence of degenerative disc disease and spinal cord injuries is expected to drive the demand for thoracolumbar devices.
- The Minimally Invasive Spine Surgeries segment is forecasted to grow with the fastest CAGR of 4.0% over the forecast period as the surgeries have reduced chances of infection or post-operative pain or lesser chances of blood loss.
- The Hospitals & Ambulatory Surgery Centers segment is forecasted to be the fastest-growing segment over the forecast period due to the rising adoption of advanced surgical technology and surgical robots for spine fusion surgeries by healthcare professionals.
- North America accounted for the largest market share of the Spinal Fusion Devices market in 2019 due to the growing geriatric population in the region and the presence of technologically advanced healthcare systems.
- Key participants include B. Braun Melsungen, Alphatec Holdings, Inc., Exactech, Inc., DePuy Synthes Companies (Johnson & Johnson Services, Inc.), Medtronic PLC, Globus Medical, Inc., NuVasive, Inc., Stryker Corporation, Orthofix International N.V., and Zimmer Biomet Holdings, Inc., among others.
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Emergen Research has segmented the global Spinal Fusion Devices Market on the basis of Product, Surgery, End User, and region:
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Cervical Fixation Devices
- Thoracolumbar Devices
- Interbody Fusion Devices
- Biologics
- Surgery Outlook (Revenue, USD Billion; 2017-2027)
- Minimally Invasive Spine Surgery
- Open Spine Surgery
- End User Outlook (Revenue, USD Billion; 2017-2027)
- Specialty Clinics
- Hospitals & Ambulatory Surgery Centers
- Others
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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