Spinal fusion devices are medical implants which join two or more vertebrae are fused in the spine. The procedure is typically performed on individuals who suffer from spinal instability, degenerative disc disease, spinal deformities, or spinal fractures.
Spinal fusion aims to stabilize the spine, relieve pain, and improve function. Spinal fusion devices are designed to provide support and promote bone growth between the fused vertebrae, creating a solid fusion.
In 2021, the market for spinal fusion devices was worth USD 6.86 billion, and by 2030 it will be worth USD 9.63 billion, growing at a 3.83% CAGR during the forecast period.
The market for spinal fusion devices is expanding due to the growing number of invasive surgeries performed to treat injuries sustained in accident or trauma cases and expanding aging population.
Market Dynamics
Drivers
Due to different lifestyle factors like nutrition and smoking, the number of people with spinal diseases is rising. The NCBI estimates that spinal diseases affect 28.1% of people worldwide. While 27.1% have cervical spine diseases, 53.1% have lumbar spine disorders. Because of an increasing senior population and an increase in people suffering from spinal problems, the spinal fusion devices sector trend has turned positively.
The rising use of surgical robots for spinal fusion aids in the upward trending growth of the world market for spinal fusion devices. Surgical robots are in higher demand as they are more successful at minimally invasive surgery.
Restraints
Several problems, such as high spinal operation costs, a lack of competent medical staff, and stringent regulatory restrictions, hamper the market for spinal fusion devices. Alternative therapies like stem cell therapy and physiotherapy may also restrain market expansion.
Furthermore, expensive procedures and equipment severely constrain the industry’s expansion. The average cost of a spinal fusion surgery ranges from $14,000 to $150,000. An NCBI study found that posterior or transforaminal lumbar interbody fusion costs $ 66,000, and anterior lumbar interbody fusion costs roughly $76,000. The growth is hampered by the requirement to buy support devices for spinal fusion.
Opportunity
Major market participants will launch more products, boosting market expansion during the forecast period. For instance, Spine Wave reported in December 2021 that the Defender Anterior Cervical Plate and the Stronghold C 3D Titanium Interbody Device, including TiCell 3D advanced surface technology, had been released immediately. During anterior cervical fusion procedures, fixation is provided by the Defender Anterior Cervical Plate, a titanium plate and screw system.
Market Segmentation
By Product
The thoracolumbar devices segment was the biggest market in 2020, with a more than 55.0% revenue share. It is due to the rising prevalence of spinal problems such as spinal stenosis, severe kyphosis, and vertebral fracture. Additionally, the most significant indication for surgery is thoracolumbar fractures.
Due to the increasing frequency of cervical spondylosis among corporate executives, the cervical segment will grow rapidly.
By Disease Type
The degenerative disc segment was the biggest market, with 42.0% of the revenue share in 2020. The primary factors driving the category are an increase in the older population and growing reasons for lower back and neck discomfort in adults. The growth of sports and everyday activities will stimulate the market growth rate.
By Surgery
In 2020, the minimally invasive surgery segment was the largest market with 64.0% of revenue share as it is the most preferred type of spinal fusion surgery. The three most important factors for patients to consider when choosing between MIS and open surgery in 2019 in the U.S. were the surgeon’s suggestion, complication risk, and long-term outcomes. Most patients found that open surgery was more painful, had a higher risk of complications, required longer recovery times, and required more sedation than MIS.
By End-User
With a revenue share of more than 57.0% in 2020, hospitals ruled the market for spinal fusion devices. One of the variables influencing the segment is the rise in hospital spinal procedures. The demand for high-quality healthcare services hospitals provides is rising due to expanding government attempts to upgrade the healthcare infrastructure and an expanding middle-class population in developing countries like India, supporting sector growth.
Key Players
SeaSpine
DePuy Synthes
Orthofix Medical, Inc.
B. Braun Melsungen AG
Globus Medical
NuVasive, Inc.
Zimmer Biomet
Medtronic
ATEC Spine, Inc.
Spineology
Captiva Spine, Inc.
Spinal Elements, Inc.
Stryker
Spine Wave, Inc.
Xtant Medical Holdings, Inc.
In 2021, the market for spinal fusion devices was worth USD 6.86 billion, and by 2030 it will be worth USD 9.63 billion, growing at a 3.83% CAGR during the forecast period. The market growth of spinal fusion devices is stimulated by the expanding geriatric population and rising instances of spinal issues like spinal stenosis, herniated discs, and degenerative disc disease.
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