Increasing prevalence of degenerative disc disease, rising geriatric population, and increasing cases of road accidents and fatal falls worldwide are some key factors expected to drive global market growth.
Increasing prevalence of degenerative disc disease, rising geriatric population, and increasing cases of road accidents and fatal falls worldwide are some key factors expected to drive global market growth
According to Emergen Research, the global spinal fusion devices market size was USD 6.88 billion in 2019 and is expected to reach USD 8.90 billion in 2027 and register a steady revenue CAGR of 3.5% during the forecast period, 2020-2027.
Market Dynamics:
Spinal fusion is a surgical process commonly used for correcting problems with small ones in the spine and involves joining or fusion of two or more vertebrae in one single structure to stop the movement between two bones. Spinal fusion involves techniques that are designed to mimic the normal healing processes of broken bones. Various spinal fusion devices such as cervical fixation devices, thoracolumbar devices, interbody fusion devices, and biologics are widely used in spinal fusion surgeries. Many manufacturers are also focused on launching advanced devices and upgrading their existing products. Factors such as high usage of spinal fusion devices for treating spinal stenosis, spondylolisthesis, and degenerative disc disease, rising healthcare spending, growing inclination towards minimally invasive procedures, and increasing investments in R&D activities are expected to drive global market revenue growth during the forecast period.
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However, factors such as high cost of spinal fusion devices, inaccessibility to advanced technology and devices in many developing and underdeveloped economies due to budget constraints and insufficient funds, and high risk of complications associated with the procedures can hamper overall market growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Minimally Invasive Spine Surgery Segment To Account for Largest Revenue Share:
The minimally invasive spine surgery segment is expected to account for largest revenue share between 2020 and 2027. Increasing preference for minimally invasive surgeries due to less pain and discomfort, low risk of infection, shorter hospital stays and faster patient recovery, rapid adoption of advanced surgical robots in many hospitals and ambulatory surgical centers, and improving overall healthcare infrastructure are some key factors expected to drive revenue growth of the segment.
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Hospitals & Ambulatory Surgery Centers Segment to Register Rapid Revenue Growth:
The hospitals & ambulatory surgery centers segment is expected to register rapid revenue growth during the forecast period. This can be attributed to increasing patient pool, rapid adoption of advanced surgical equipment for treating spinal disorders, increasing number of hospitals and ambulatory surgery centers across the globe, and growing demand for surgical robots.
North America to Lead In Terms of Revenue Share:
North America is expected to account for largest revenue share in the global market during the forecast period. This can be attributed to factors such as increasing prevalence of spinal diseases and lifestyle-associated disorders, presence of well-established healthcare facilities and skilled healthcare professionals, and rapid advancements in spinal fusion technology. In addition, rising availability of advanced spinal treatment, presence of favorable health insurance policies, and increasing investments in developing advanced devices are expected to drive North America market growth during the forecast period.
Major Companies in the Market Include:
- 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.
- Zimmer Biomet Holdings, Inc.
For the purpose of this report, 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
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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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 trend’s 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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