The primary factors attributing to the global spinal surgery market's growth are:
- Advances in spinal surgery tools.
- Growing geriatric and obese population with spinal deformities.
- Increasing demand for non-invasive spinal surgery procedures elements driving the market's growth.
Apart from this, increased research on biologics, especially Bone Morphogenetic Proteins (BMPs), is expected to favor the adoption of spinal fusion implants. According to this report Global Spinal Fusion Device Market Size was US$ 7.48 Billion in 2021.
Thoracolumbar Device holds the Biggest Market Share
The global spinal fusion device market includes Cervical Device, Thoracolumbar Device, Interbody Device, and Biologics on the ground of product type. Thoracolumbar devices hold the largest market share owing to the increasing incidence of spinal disorders such as degenerative disc disease, complex deformity, traumas & fractures, and others. In these cases, surgery is the only cure option.
Moreover, fractures in the thoracolumbar area can be essential for surgical intervention. This contribution is mainly because of the number of thoracolumbar disorders and technological advancements. Bone insufficiency is caused for reason of underlying settings such as osteoporosis and tumors that eventually weaken the bone and cause fractures.
The spinal fusion device market is segmented into minimally invasive surgeries, open surgeries, and Breath based on surgery. Open surgery is a significant market; this segment can be attributed to the increasing preference for open spine surgeries among medical professionals, rising incidence of spinal deformities, and technological advancements in spinal fusion devices.
Worldwide Spinal Fusion Device Industry will grow with a CAGR of 4.8% during 2021 to 2027
On the basis of the end-user, the spinal fusion device market is classified into Hospitals, Specialty Clinics, and Ambulatory Surgical. The hospitals & specialty clinics segment is to witness remarkable growth due to the rapid adoption of advanced spine surgery products and the gradual rise in robotic spine surgery. Also, the popularity of specialty clinics has been increasing over the years. With the demand for improved access to care, numerous types of specialty clinics have come to market over the last two decades. Specialty clinics would specifically help bridge the gap between the demand and supply of healthcare services and facilities by providing superior care.
North America is a significant Spinal Fusion Device Market
Regionally, North American is the significant spinal fusion device market, owing to increased spinal disorders. By (NCHS) National Center for Health Statistics, more than 65 Million Americans suffer from lower back problems every year. With evolving lifestyle and food consumption methods in the region, such figures will increase further. The degenerative spinal disorders are also to grow, along with a likely increase in spinal problems in obese populations due to increased obesity, further boosting the spinal fusion device market growth. Moreover, the Asia Pacific spinal fusion devices market is to significantly growing due to the rising awareness, improving healthcare infrastructure, enhancing reimbursement scenario, and the growing insurance coverage in several APAC countries.
COVID-19 Impact Analysis:
The effect of the COVID-19 pandemic has been witnessed in about every industry. Like other healthcare industries, the market for spinal fusion devices has also been entirely affected. The COVID-19 outbreak situation across countries has shown some challenges on the spinal fusion devices owed to hold on orthopedic services by the hospitals and clinics. The immense pressure on the hospitals in providing services to COVID-19 patients is also one of the factors, which has been inhibiting the clinics and hospitals in delivering spine fusion services.
Key Market Players:
The prominent companies in the global spinal fusion devices industry are Alphatec Holdings, Inc., B. Braun Group, Johnson & Johnson, Globus Medical, Medtronic, NuVasive, Orthofix Medical Inc, Stryker, Zimmer Biomet Holdings.
This latest research report “Global Spinal Fusion Device Market by product type (Cervical Device, Thoracolumbar Device, Interbody Device an Biologics), Surgery Type (Open Surgery, Minimally Invasive), Disease Indicator Type (Degenerative Disc Disease, Complex Deformity, Traumas & Fractures and Other), End-Users (Hospitals, Specialty Clinics and Ambulatory Surgical), Regions (North America, Europe, Asia-Pacific, Latin America and MEA), Company Analysis (Alphatec Holdings, Inc., B. Braun Group, Johnson & Johnson, Globus Medical, Medtronic, NuVasive, Orthofix Medical Inc, Stryker, Zimmer Biomet Holdings)” provides a detailed analysis of Global Spinal Fusion Device Industry.
Product Type - Market Breakup has been covered from 4 viewpoints
- Cervical Device
- Thoracolumbar Device
- Interbody Device
- Biologics
Surgery Type - Market Breakup has been covered from 2 viewpoints
- Open Surgery
- Minimally Invasive
Disease Indicator - Market Breakup has been covered from 4 viewpoints
- Degenerative Disc Disease
- Complex Deformity
- Traumas & Fractures
- Other
End Users - Market Breakup has been covered from 3 viewpoints
- Hospitals
- Specialty Clinics
- Ambulatory Surgical
Regions - Market Breakup has been covered from 5 viewpoints
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East Africa
Company Insights:
- Overviews
- Strategic Initiatives
- Financial Performance
Company Analysis:
- Alphatec Holdings
- Inc., B. Braun Group
- Johnson & Johnson
- Globus Medical
- Medtronic
- NuVasive
- Orthofix Medical Inc
- Stryker
- Zimmer Biomet Holdings
Table of Contents
Companies Mentioned
- Alphatec Holdings
- Inc., B. Braun Group
- Johnson & Johnson
- Globus Medical
- Medtronic
- NuVasive
- Orthofix Medical Inc
- Stryker
- Zimmer Biomet Holdings
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 150 |
| Published | February 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 7.48 Billion |
| Forecasted Market Value ( USD | $ 9.93 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
