The global spinal fusion implants market is expected to be valued at USD 8.90 billion by 2027 from USD 6.88 billion in 2019, registering a CAGR of 3.5% through the forecast period, according to the latest report by Emergen Research. As people over the age of 65 are more likely to encounter symptomatic spinal disorders as a result of natural degeneration, the growth of this market can be attributed to the increasing occurrence of spine degeneration among the aging population. Due to the growing budgetary allocation for healthcare, the advent of better healthcare technology in developing economies is expected to drive the growth of the demand for spinal fusion devices over the forecast period. A major contributing factor to the growing demand for spinal fusion procedures and devices is the presence of favorable health insurance coverage for most spinal treatments. In addition, the availability of more trained spine surgeons is projected to drive the market’s growth.
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Key Highlights From The Report
- The SYMPHONY Occipito-Cervico-Thoracic (OCT) System was introduced in November 2019 by DePuySynthes Companies. In the surgical treatment of conditions in the neck and upper back, the newly introduced device is expected to help. The device comprises a series of implants and instruments which can be used in patients undergoing Posterior Cervical Fusion Surgery for the stabilisation of the spine.
- The thoracolumbar devices sub-segment had the highest market share amounting to 45.3% in 2019. The growth of thoracolumbar devices is anticipated to be driven by the expanding ageing population and its rising demand for spinal treatment.
- With the fastest CAGR of 4.0% over the forecast period, minimally invasive spine surgery is projected to gather considerable traction. The risks associated with open surgery are leading to the increasing acceptance by healthcare professionals of minimally invasive spine surgery.
- The largest market share of spinal fusion products was held by the hospitals & ambulatory segment in 2019. For most spinal procedures, the prevalence of favourable health insurance policies and the availability of trained spine surgeons in hospitals are expected to boost the segment’s growth.
- Due to the rising healthcare budgetary allocation in emerging economies, the Asia Pacific region is projected to be the fastest-growing region over the forecast period.
- Key participants include Braun Melsungen, Alphatec Holdings, Inc., Exactech, Inc., DePuySynthes 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
- 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
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East &Africa
- Saudi Arabia
- Rest of MEA
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