March 28, 2020

Spinal Fusion Market Is Expected To Reach US$ 10,927.9 Mn by 2027 | Credence Research

The latest market report published by Credence Research, Inc. “Spinal Fusion Market – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the spinal fusion market was valued at US$ 6,554.2 million in 2018 and is expected to reach US$ 10,927.9 million by 2027 for a CAGR of 5.8 per cent during the forecast period from 2019 to 2027.

Market Insights 

The global spinal fusion market is developing productively from 2019 to 2027, accredited to an increase in open and minimally invasive procedures, along with enhanced technology expansion worldwide in the field of spinal surgery. The U.S. contributed a maximum share of revenue in 2018. Market players in the U.S. continue to focus on research and development activities to innovate new applications along with advanced technology. Increasing geriatric population with spinal disorders (spondylosis, degenerative scoliosis, spinal deformity, spinal instability) and prevalence of spinal cord injuries will drive global market growth. Worldwide, between 250 000 and 500 000 people suffer a spinal cord injury every year. Increased adoption of new products (plate systems, screws, rods, cages) in orthopedic clinics and hospitals will drive demand.

Browse full report at https://www.credenceresearch.com/report/spinal-fusion-market

Top manufacturers are mainly focusing on new technology expansion in developing nations. Innovations in the minimally invasive techniques along with increased awareness will further spur revenue growth during the forecast period. For e.g. in June 27, 2017, DePuy Synthes Products, Inc. announced the acquisition of Sentio, LLC to enable innovation in minimally invasive spine surgery. On September 12, 2018, Johnson & Johnson Medical Devices Companies acquired Emerging Implant Technologies GmbH (manufacturer of 3D-printed titanium implants) to further expand its offering internationally. The domestic and local organizations have easy entree to this market, which makes it the biggest and most critical market for suppliers & providers. The increasing number of hospitals and orthopedic clinics segment expected to register the highest CAGR during the forecast period. Rising spinal surgical procedures in developed nations, adoption of new fusion devices, utilization of 3D printing technology, new product launches, and enhanced reimbursement structure will drive the market growth during the forecast period.

Key Market Movements:

  • Globally, the spinal fusion is growing at a CAGR of 5.8% for the period from 2019 to 2027
  • North America dominated the global market in 2018 on account of sophisticated number of open surgeries, key manufacturers have concentrated on the practice of partnerships & collaborations, adoption of new techniques and launch of spinal fusion devices
  • The Asia Pacific is projected to register the maximum growth rate during the forecast period due to the increasing elderly and obese population, increased medical expenditure along with the significant prevalence & incidence of spinal cord injuries
  • An increasing number of acquisitions, new product expansion, and increased health expenditure in the developing nations will drive the overall demand
  • Major players in this vertical 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.

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Report Scope by Segments

By Product Type

  • Spinal Plating Systems
  • Pedicle Screw Systems & Rods
  • Cages
  • Others (Hook Fixation Systems, Other Interbody Devices)

By Procedure Type

  • Posterolateral Spinal Fusion
  • Interbody Spinal Fusion

By End-User Type

  • Hospitals
  • Orthopedic Clinics & Centers
  • Ambulatory Surgical Centers

By Geography Segment

  • North America (U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (Middle East & Africa, Latin America)

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