spinal-fusion-market

Spinal Fusion Market Product (Spinal Plating Systems, Pedicle Screw Systems & Rods, Cages, Others), By Procedure (Posterolateral Spinal Fusion, Interbody Spinal Fusion, By End-User (Hospitals, Orthopedic Clinics & Centers, Ambulatory Surgical Centers) - Growth, Future Prospects, and Competitive Analysis, 2024 - 2032

01 Dec 2019 Format PDF icon PPT icon XLS icon Request Sample

"Incidence of spinal cord injuries has risen significantly on a global scale" 

The global spinal fusion market is growing competently, expected to grow at a CAGR of 5.8%. Worldwide, increasing open and minimally invasive spine surgeries has significantly increased the revenue of spinal fusion devices. Growing geriatric population are more vulnerable to spine disorders, increasing incidences of fracture, trauma, deformity, tumor, scoliosis, and degenerative spine disorders globally will enhance the growth of the global spinal fusion market. Innovative product launches along with improvement in anterior/posterior spinal fusion procedures are factors driving the growth of the market. 

"Pedicle screw systems & rods segment is expected to register higher growth by the end of 2030" 

Utilization of bio-absorbable materials is becoming popular owing to their superior properties of being absorbed in the human body over time. Moreover, this eradicates repeat surgical procedures necessary to remove the implant after the bones have recovered fully. Pedicle screw systems & rods will show significant growth. Increased lumbar fusion and cervical fusion rates will further spur revenue growth during the forecast period. The new launch of advanced plating systems, interbody cages, hook fixation systems, and other products with enhanced structural stability and integrity will drive the demand in open surgeries. Additionally, a wide range of spine products for deformity, minimally invasive surgery, lumbar degenerative, cervical, biomaterials, vertebral body augmentation, and replacement will further spur revenue growth during the forecast period. 

"Interbody fusion segment is expected to register higher growth by the end of 2030" 

Adult degenerative scoliosis, adult lumbar spondylolisthesis, broken vertebrae, Herniated disc, instability from conditions such as arthritis and spinal weakness will enhance the growth of anterior and posterior interbody fusion procedures globally. Even though the procedure is most commonly performed for lumbar area, thoracic vertebrae and cervical can also be treated in cases of accidents. Other spinal related conditions recommended by surgeons comprise spinal tumor, degenerative disc disease, vertebral fracture, and spondylosis. Increasing road accidents, aging population, heavy investment in the multispecialty hospital infrastructure, and rising incidences of incidence of spinal cord injuries will drive the market growth globally. 

"Increasing aging population, rising medical expenditure and the presence of top companies hold the U.S. in dominant position" 

According to National Spinal Cord Injury Statistical Center, in the U.S., the number of individuals living with spinal cord injury is currently estimated to be around 288,000 individuals, with a range from 240,000 to 350,000 individuals. In 2018, North America generated maximum revenue share in the spinal fusion market due to an increase in technology expansion of spinal fusion procedures along with educating awareness about minimally invasive surgery. Product expansion in developing nations (mainly in the Asia Pacific), higher patient pool for spinal related disorders, low cost of surgery, and medical tourism will drive the product segment during the forecast period. 

"Increased research and development with strong product portfolio in the developed regions" 

Major players in the spinal fusion market are Zimmer Biomet, Johnson & Johnson Services, Inc., Stryker, Orthofix Holdings, Inc., B. Braun Melsungen AG, RTI Surgical Holdings, Inc., Life Spine, Inc., MicroPort Scientific Corporation, Integra LifeSciences, NuVasive, Inc., RTI Surgical Holdings, Inc., Exactech Inc., K2M Group Holdings Inc., Titan Spine LLC and others. Major manufacturers are focused on producing top-quality bio-absorbable products. Partnership agreements, new product launch, acquisitions, and improved R&D will increase the expansion of the spinal fusion market in the emerging nations in the near future. 

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Spinal Fusion market are as follows:

  • Research and development budgets of manufacturers and government spending
  • Revenues of key companies in the market segment
  • Number of end users and consumption volume, price and value.
  • Geographical revenues generate by countries considered in the report
  • Micro and macro environment factors that are currently influencing the Spinal Fusion market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

ATTRIBUTE DETAILS
Research Period  2022-2032
Base Year 2023
Forecast Period  2024-2032
Historical Year  2022
Unit  USD Million
Segmentation
Product
  • Spinal Plating Systems
  • Pedicle Screw Systems & Rods
  • Cages
  • Others (Hook Fixation Systems, Other Interbody Devices)

Procedure
  • Posterolateral Spinal Fusion
  • Interbody Spinal Fusion

End-User
  • Hospitals
  • Orthopedic Clinics & Centers
  • Ambulatory Surgical Centers

 Region Segment (2022-2032; US$ Million)

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • UK and European Union
    • UK
    • Germany
    • Spain
    • Italy
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • Africa
    • Rest of Middle East and Africa

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Spinal Fusion market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2032.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the Spinal Fusion market?
  • Which is the largest regional market for Spinal Fusion market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving Spinal Fusion market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Spinal Fusion market worldwide?
Choose Licence Type
$4500
$6500
$9000
Why Acute
View Other Reports