Spine-related disorders and deformities are treated using spinal fusion devices. Disorders such as spinal stenosis and lumbar degenerative spondylolisthesis are caused due to degeneration of the intervertebral disc, deformity, tumors, and trauma. Implant systems utilizing specially designed spinal instrumentation are often used in spinal fusion surgical procedures, such as plates, rods, and screws, which facilitate fusion, correct deformities, and stabilize and strengthen the spine. Most spinal fusion implants are made of metals such as titanium and are available in different shapes and sizes to treat patients of all ages.
This market is expected to witness significant growth during the forecast period, owing rise in geriatric population, advent of minimal invasive surgical treatment options, and rise in incidents of spinal disorders. In addition, advancements in spine surgeries and new product launches further fuel the market. However, stringent regulatory approval procedures, present pandemic situation, and unfavorable reimbursement scenario are expected to hamper growth of the spinal implant and devices market. Moreover, emerging markets are expected to drive demand for spinal implants and devices and advancements in augmented and virtual reality, endoscopic surgery, and 3D printed implants for minimally invasive surgery are also expected to fuel the market growth.
Major player such as Nuvasove, and others are engaged in offering new spinal fusion devices to the market. NuVasive acquired Simplify Medical Pty Limited, a developer of cervical artificial disc technology for cervical total disc replacement procedures. This aims in improving the product portfolio of the company. Such instances are expected to provide lucrative opportunities for major players for growth of the market.
The spinal fusion devices market is segmented on the basis of product, surgery, end user, and region. On the basis of product, the market is classified into thoracolumbar devices, cervical fusion devices, and interbody fusion devices. The thoracolumbar devices segment dominated the market in 2020.
On the basis of surgery, the market is categorized into open spine surgery and minimally invasive spine surgery. The minimally invasive spine surgery segment dominated the global spinal fusion devices market in 2020.
On the bases of end user, the market is divided into hospitals, specialty clinics, and others. The hospitals segment dominated the market in 2020.
On the basis of region, the spinal fusion devices market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America was the highest revenue growth, followed by Europe. LAMEA is predicted to grow faster than Asia-Pacific with a CAGR of 8.2% during the forecast period. The North America region is expected to dominate the spinal fusion devices market.
The key players profiled in the market report include such as Alphatec Holdings, Inc., B. Braun Melsungen AG, Depuy Synthes (Johnson & Johnson), Exactech, Inc., Globus Medical, Inc., Medtronic Plc., NuVasive, Inc., Orthofix International N.V., Stryker Corporation, and Zimmer Biomet Holdings, Inc.
Major players are adopting product launch and acquisition as key developmental strategies to improve the product portfolio. For instance, in August 2019, Alphatec launched InVictus Minimally Invasive or MIS, SingleStep K-wireless implant delivery system. It eliminates the requirement of K-wires in percutaneous pedicle fixation procedures and reduces potential complications that can occur with inadvertent K-wire advancement in traditional minimally invasive pedicle screw placement technique. This improves product portfolio of the company.
This market is expected to witness significant growth during the forecast period, owing rise in geriatric population, advent of minimal invasive surgical treatment options, and rise in incidents of spinal disorders. In addition, advancements in spine surgeries and new product launches further fuel the market. However, stringent regulatory approval procedures, present pandemic situation, and unfavorable reimbursement scenario are expected to hamper growth of the spinal implant and devices market. Moreover, emerging markets are expected to drive demand for spinal implants and devices and advancements in augmented and virtual reality, endoscopic surgery, and 3D printed implants for minimally invasive surgery are also expected to fuel the market growth.
Major player such as Nuvasove, and others are engaged in offering new spinal fusion devices to the market. NuVasive acquired Simplify Medical Pty Limited, a developer of cervical artificial disc technology for cervical total disc replacement procedures. This aims in improving the product portfolio of the company. Such instances are expected to provide lucrative opportunities for major players for growth of the market.
The spinal fusion devices market is segmented on the basis of product, surgery, end user, and region. On the basis of product, the market is classified into thoracolumbar devices, cervical fusion devices, and interbody fusion devices. The thoracolumbar devices segment dominated the market in 2020.
On the basis of surgery, the market is categorized into open spine surgery and minimally invasive spine surgery. The minimally invasive spine surgery segment dominated the global spinal fusion devices market in 2020.
On the bases of end user, the market is divided into hospitals, specialty clinics, and others. The hospitals segment dominated the market in 2020.
On the basis of region, the spinal fusion devices market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America was the highest revenue growth, followed by Europe. LAMEA is predicted to grow faster than Asia-Pacific with a CAGR of 8.2% during the forecast period. The North America region is expected to dominate the spinal fusion devices market.
The key players profiled in the market report include such as Alphatec Holdings, Inc., B. Braun Melsungen AG, Depuy Synthes (Johnson & Johnson), Exactech, Inc., Globus Medical, Inc., Medtronic Plc., NuVasive, Inc., Orthofix International N.V., Stryker Corporation, and Zimmer Biomet Holdings, Inc.
Major players are adopting product launch and acquisition as key developmental strategies to improve the product portfolio. For instance, in August 2019, Alphatec launched InVictus Minimally Invasive or MIS, SingleStep K-wireless implant delivery system. It eliminates the requirement of K-wires in percutaneous pedicle fixation procedures and reduces potential complications that can occur with inadvertent K-wire advancement in traditional minimally invasive pedicle screw placement technique. This improves product portfolio of the company.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the spinal fusion devices market analysis from 2020 to 2030 to identify the prevailing spinal fusion devices industry opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Spinal fusion devices market opportunity are reported from 2020 to 2030.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the spinal fusion devices market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global spinal fusion devices market trends, key players, market segments, spinal fusion devices market size, application areas, and market growth strategies.
Key Market Segments
By Type
- Cervical Fixation Devices
- Interbody Fusion Devices
- Thoracolumbar Devices
By Surgery
- Minimally Invasive Spine Surgery
- Open Spine Surgery
By End User
- Hospitals
- Specialty Clinics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- Spain
- Rest of Europe
- Asia-Pacific
- Rest Of Asia Pacific
- China
- Japan
- India
- South Korea
- LAMEA
- Rest of Latin America
- Middle East
- Africa
Key Market Players
- Zimmer Biomet Holdings, Inc.
- Alphatec Holdings Inc
- B. Braun Melsungen AG
- Exactech Inc
- Globus Medical Inc
- Johnson & Johnson
- Medtronic Plc
- Nuvasive Inc
- Orthofix International N.V.
- Stryker Corporation
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SPINAL FUSION DEVICES MARKET, BY TYPE
CHAPTER 5: SPINAL FUSION DEVICES MARKET, BY SURGERY
CHAPTER 6: SPINAL FUSION DEVICES MARKET, BY END USER
CHAPTER 7: SPINAL FUSION DEVICES MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Spinal Fusion Devices Market,' the spinal fusion devices market size was valued at $7,030.10 million in 2020, and is estimated to reach $11,434.10 million by 2030, growing at a CAGR of 4.6% from 2021 to 2030.The global spinal fusion devices market analysis is driven by factors such as advent of minimally invasive spine surgery techniques and rise in incidences of spinal disorders. In addition, surge in geriatric population is anticipated to fuel demand for spinal fusion devices, globally. However, unfavorable reimbursement scenario and stringent regulatory approval process hampers the market growth. Moreover, emerging markets are expected to drive demand for spinal implants and devices and advancements in augmented and virtual reality, endoscopic surgery and 3D printed implants for minimally invasive surgery are also expected to fuel the spinal fusion devices market growth.
Major players such as Alphatec Holdings, Inc., B.Barun Melsungen AG, and Stryker Corporation are adopting acquisition 0/to improve their product portfolio to maintain competition in the market. For instance, in September 2018, J&J acquired Emerging Implant Technologies GmbH company, which is a privately held manufacturer of 3D-printed titanium interbody implants for spinal fusion surgery to enhance global offering of interbody spine implants. Such instances are expected to provide lucrative opportunities for major players for growth of the market.
The global spinal fusion devices market is segmented on product, surgery, end user, and region. On the basis of product, the market is classified into thoracolumbar devices, cervical devices, and interbody fusion devices. Thoracolumbar devices segment dominated the market in 2020. In addition, the interbody fusion devices segment is the fastest-growing sector in the spinal fusion devices market, registering a CAGR of 6.1% during the forecast period.
On the basis of surgery, the market is categorized into open spine surgery and minimally invasive spine surgery. The minimally invasive spine surgery segment had highest revenue followed by open surgery in 2020. The open surgery segment is expected to grow at a CAGR of 3.5% during the forecast period.
On the basis of end user, the market is divided into hospitals, specialty clinic, and others. The hospital segment holds maximum spinal fusion devices market share in the global market, followed by the specialty clinics segment.
On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific dominated the market in 2020, owing to improvement in healthcare infrastructures and rise in expenditures in emerging markets (India and China) to overcome the unmet medical needs. Moeover, technological advancements to develop cost-effective devices in these nations offer a lucrative opportunity for spinal fusion devices market forecast.
The key players profiled in the market report include such as Alphatec Holdings, Inc., B. Braun Melsungen AG, Depuy Synthes (Johnson & Johnson), Exactech, Inc., Globus Medical, Inc., Medtronic Plc., NuVasive, Inc., Orthofix International N.V., Stryker Corporation, and Zimmer Biomet Holdings, Inc.
Several manufacturers in the global spinal fusion devices industry stopped their business activities in 2020, owing to lockdowns implemented in developed and developing countries. This halt in production activities impacted revenue of spinal fusion devices manufacturing companies. For instance, net sales of Nuvasive dropped by 10.1% from January 2020 to December 2020. In addition, lack of man power and raw materials affected the supply chain of the global spinal fusion devices industry. However, the market is projected to recover from the 1st quarter of 2023, owing to reduced restrictions and reopening of the global spinal fusion devices market. Moreover, in 2021, with availability of vaccine against COVID-19, the market re-opened at full pace.
Companies Mentioned
- Zimmer Biomet Holdings, Inc.
- Alphatec Holdings Inc
- B. Braun Melsungen AG
- Exactech Inc
- Globus Medical Inc
- Johnson & Johnson
- Medtronic Plc
- Nuvasive Inc
- Orthofix International N.V.
- Stryker Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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