Spinal Fusion Device Market Analysis Report By Product, By Surgery, By Disease Type, By End User, By Region And Segment Forecasts From 2021 To 2028

Synopsis

The global spinal fusion device market was prized by USD 6.3 billion in 2020. It is estimated to witness a 4.4% CAGR from 2021 to 2028.

Drivers

The increasing elderly populace, in addition to rising figures of spinal complaints, is enhancing the enlargement of the market for spinal fusion devices. Consistent with the CDC statement on or after 2019, approximately 62.0% of the elderly people plus 34.0% of the adult population got influenced by spinal abnormality. The frequent reasons for spinal fusion damages are originated from road traffic accidents, falls, collisions, and trauma.

The rising implementation of minimally invasive surgeries (MIS) is additionally raising the demand for spinal fusion devices. Due to a variety of advantages like less damage to the tissue, not as much pain, and an abridged post-operative period, surgeons are choosing for minimally invasive surgeries, instead of open surgery. Following Mini-invasive Surgery in 2019, minimally invasive methods are accepted for the treatment of an extensive variety of bone complaints.

Roughly 400,000 spinal fusion cases are executed in the U.S. per annum and it has resulted in one of the most usually carried out and entrenched alternatives of the treatment for structural irregularities, spine trauma, and degenerative disorders.

Effect of Covid-19

The influence of the Covid-19 pandemic has been observed, within almost every business. Moreover, similar to other healthcare markets, the spinal fusion devices market has been considerably affected. Covid-19 pandemic has delayed, not obligatory surgical treatments, a fall-off in sales, as well as dampened enlargement speed. The decline in surgical actions significantly abridged the requirement for the equipment and goods, which are necessary for spinal fusion. Even though urgent surgical treatments were carried out, there was a sharp turn down in the entire figure of actions. The scarcity of surgical rooms, as well as ICU beds, has been registered. The business contestants observed sluggish development as well as low down sales, within the initial two quarters of 2020.

Surgery Insight

The minimally invasive surgery section held the biggest 64.0% revenue share and led the spinal fusion device market; in 2020. It is the leading preference for spinal fusion surgeries.

Whilst relates to minimally invasive surgery, the majority of the patients who experienced open surgical treatment is having the bigger threat of complication, it is additional distressing, it necessitates heavier sedation and it takes an extended time for the recovery.

Disease Type Insight

In 2020, the degenerative disc section held the biggest, above 42.0% revenue share, and led the spinal fusion devices market. A rise in the aged populace and an increasing cause for neck pain and lower back pain in adults are the most important features moving the section. Besides, growth in every day, as well as sports event activities, is anticipated to increase the expansion of the section.

The complex deformity section is projected to; speedily develop in the market during the forecast period.

Product Insight

The thoracolumbar devices section held the biggest, above 55.0% revenue share and led the spinal fusion device market, in 2020. The rising prevalence of spinal complaints for example vertebral fracture, spinal stenosis, and excessive kyphosis is a more encouraging enlargement of the section.

Due to the increase in occurrences of cervical spondylosis in business professionals, the cervical section is likely to quickly develop in the market during the forecast period. Cervical spondylosis is a widespread sickness. In the U.S., it is expected to make up a 2.0% share of every hospital admission. Mainly, it is the recurring source of spinal cord dysfunction, within patients, having age above 55 years.

End-User Insight

The hospital's section held the biggest; more than 57.0% revenue share and led the market in 2020. The increasing figure of spinal surgical treatments, carried out at hospitals, is one of the reasons inspiring the expansion of the section.

The specialty clinics section is projected to speedily develop, within the market for spinal fusion devices, during the forecast period. The reputation of these clinics is growing, during the current years. Several categories of specialty clinics have appeared in the market, during the previous two decades.

Regional Insight

In 2020, North America held the biggest, more than 41.0% revenue share and dominated the global market. The increasing number of elderly residents, rising spinal complaints along with the growing frequency of sports injuries, and lethal accidents are among the important factors, escalating the necessity for spinal fusion devices, within North America. Additionally, the existence of deep-rooted healthcare infrastructure is estimated to boost the expansion of the market, within the region. The improvements by the major companies are, furthermore, estimated to increase the expansion of the market, by way of enormously available openings.

The market is anticipated to quickly increase, during the forecast period, in the Asia Pacific. The enlargement can be credited to government proposals along with an augmented figure of medicinal tourism. Besides, the rising marked inhabitants, within this region, are additionally raising the threat of joint troubles as well as spinal sickness.

During the forecast period, the market for spinal fusion devices is anticipated to demonstrate profitable enlargement, In India. The development can be credited to augmented medicinal tourism in India, intended for spinal fusion surgeries. Almost, 15.0% to 20.0% rises in the patient footfall in India is observed, during the previous 5 years, this was mainly for the spinal fusion surgeries, hence, increasing the demand for the spinal fusion device.

Companies

The market is very much aggressive using the existence of several small as well as large contestants of the industry. These companies are taking programs like collaborations, presentation of the new products, and provincial enlargement, to get additional penetration in the market.

Some of the companies for the spinal fusion device market are:

    • Xtant Medical Holdings, Inc.
    • Spine Wave, Inc.
    • SeaSpine
    • ATEC Spine, Inc
    • NuVasive, Inc.
    • B. Braun Melsungen AG
    • Zimmer Biomet
    • Johnson & Johnson Services, Inc. (DePuy Synthes)
    • Spineology, Inc.
    • Spinal Elements, Inc.
    • Captiva Spine, Inc
    • Globus Medical
    • Medtronic
    • Orthofix Medical, Inc.
    • Stryker

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For this study, Million Insights has segmented the global spinal fusion device market report based on product, disease type, surgery, end-user, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2028)
    • Thoracolumbar Devices
        • Anterior Lumbar Plates
        • Pedicle Screw and Rods
        • Others
    • Cervical Fixation Devices
        • Anterior Cervical Plates
        • Hook Fixation Systems
        • Others
    • Interbody Fusion Devices

• Disease Type Outlook (Revenue, USD Million, 2016 - 2028)
    • Degenerative Disc
    • Complex Deformity
    • Trauma & Fractures
    • Others

• Surgery Outlook (Revenue, USD Million, 2016 - 2028)
    • Open spine surgery
    • Minimally Invasive Spine Surgery

• End-user Outlook (Revenue, USD Million, 2016 - 2028)
    • Hospitals
    • Specialty Clinics
    • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Italy
        • Spain
    • The Asia Pacific
        • Japan
        • China
        • India
    • Latin America
        • Brazil
        • Mexico
        • Argentina
    • Middle East & Africa
        • South Africa
        • Saudi Arabia