The Spinal fusion devices market size is projected to reach US$ 9.99 Billion by 2030, according to the report. Spinal Fusion surgery is used to rectify disorders related to small bones in the spine. The procedure involves the fusion of two or more vertebrae in the vertebral column to treat degenerative discs, fractured vertebrae, spondylolisthesis, disc herniation, and spinal canal stenosis, among others. In recent years, the number of spine fusion surgeries has gradually increased. This is due to the rising prevalence of spine-associated deformities caused primarily by aging, road traffic crashes, falls, or violence.
 Spinal fusion devices treat spinal deformities such as degenerative disc disease and spondylolisthesis. The market's growth is driven by an increase in the geriatric population and a rise in incidences of spinal disorders. expansion in indications for which spinal fusion surgery is performed boosts the market growth. For instance, spinal fusion was initially performed solely for scoliosis and spinal tuberculosis. However, there are 14 conditions for which spinal fusion procedure is currently indicated. In addition, in 2020, 153,288 anterior cervical discectomy and fusions were performed in the U.S., and the volume is expected to increase by 13.3% by 2040.
In May 2022, according to the 'Spinal Cord Injuries' report, 250,000 and 500,000 people worldwide suffer from spinal cord injury yearly. Most instances result from preventable factors including violence and vehicles injuries. Approximately 17,000 new spinal cord injury instances are reported yearly within the United States, with a predicted 282,000 peoples dwelling with SCI. The majority of patients with SCI caused by a sports injury are men. The age group from 16 to 30 years has the highest threat of SCI. Thus, the high incidence of spinal cord injuries will surge the demand for spinal fusion devices over the approaching years. Furthermore, the increasing preference for minimally invasive surgical procedures because of numerous benefits propels the market growth.
Single-position anterior lumbar fusion surgical treatment allows surgeons to complete the whole operation while the patients is at their side. Technological advancements in surgical techniques are also a key factor driving the market's growth. In November 2022, Sentinel Spine LLC announced the recent publication of a peer-reviewed look at of the STALIF M portfolio of products in a worldwide journal in November of Spine Surgery: 'Evaluation of Anterior Lumbar Interbody Fusion Using a Stand-Alone, Integrated Fusion Cage.' The STALIF M implant technology is primarily based at the STALIF technology platform, with over 30 years of confirmed medical records and over 75,000 devices implanted. As a result, Spinal Fusion Devices Market Size is valued at USD 7.60 Billion in 2023.
This growth is driven by several key factors, including an expanding aging population, increasing instances of spinal conditions, and advancements in medical technology. The demand for spinal fusion devices is expected to rise as healthcare infrastructure improves and awareness of treatment options increases. This burgeoning market reflects the China and India region's evolving healthcare landscape and the commitment to addressing spinal health issues. As the Asia Pacific region continues to invest in healthcare advancements, the rapid growth of the spinal fusion device market signifies a promising future for patients and the industry.
 Spinal fusion devices treat spinal deformities such as degenerative disc disease and spondylolisthesis. The market's growth is driven by an increase in the geriatric population and a rise in incidences of spinal disorders. expansion in indications for which spinal fusion surgery is performed boosts the market growth. For instance, spinal fusion was initially performed solely for scoliosis and spinal tuberculosis. However, there are 14 conditions for which spinal fusion procedure is currently indicated. In addition, in 2020, 153,288 anterior cervical discectomy and fusions were performed in the U.S., and the volume is expected to increase by 13.3% by 2040.
Global spinal fusion devices market is projected to grow at a CAGR of 3.98% from 2024 to 2030
The global population is aging rapidly due to reduced birth rates and increasing life expectancy. The demographic trend towards an aging population represents an increasing need to manage old age-associated spine disorders. In 2021, according to the World Health Organization, 1 out of every 6 people will be 60 years old or older by 2030. The number of people aged 60 and above is anticipated to increase upward from 1 Billion in 2020 to 1.4 Billion by 2050. By 2050, the worldwide population of elderly people 60 and above will double to reach 2.1 billion. Between 2020 and 2050, the number of human beings aged 80 and above is predicted to triple, attaining 426 million. These physiological modifications and prolonged exposure to risk factors increase the prevalence rate of backbone disorders, which may also require surgical intervention.In May 2022, according to the 'Spinal Cord Injuries' report, 250,000 and 500,000 people worldwide suffer from spinal cord injury yearly. Most instances result from preventable factors including violence and vehicles injuries. Approximately 17,000 new spinal cord injury instances are reported yearly within the United States, with a predicted 282,000 peoples dwelling with SCI. The majority of patients with SCI caused by a sports injury are men. The age group from 16 to 30 years has the highest threat of SCI. Thus, the high incidence of spinal cord injuries will surge the demand for spinal fusion devices over the approaching years. Furthermore, the increasing preference for minimally invasive surgical procedures because of numerous benefits propels the market growth.
Single-position anterior lumbar fusion surgical treatment allows surgeons to complete the whole operation while the patients is at their side. Technological advancements in surgical techniques are also a key factor driving the market's growth. In November 2022, Sentinel Spine LLC announced the recent publication of a peer-reviewed look at of the STALIF M portfolio of products in a worldwide journal in November of Spine Surgery: 'Evaluation of Anterior Lumbar Interbody Fusion Using a Stand-Alone, Integrated Fusion Cage.' The STALIF M implant technology is primarily based at the STALIF technology platform, with over 30 years of confirmed medical records and over 75,000 devices implanted. As a result, Spinal Fusion Devices Market Size is valued at USD 7.60 Billion in 2023.
Cervical segment is expected to grow significantly within the spinal fusion devices market throughout the forecast timeframe
Product Type, the Spinal Fusion Devices Market is segmented into Cervical Devices, Thoracolumbar Devices, Interbody Devices, and Biologics. In spinal fusion devices, the cervical segment is poised for a substantial and quick enlargement in the foreseeable future. Projections suggest that this particular sector will surge in demand and prominence. This upsurge is expected to be pushed via various factors, which includes technological advancements, increasing patient’s awareness, and a growing incidence of cervical spine-related troubles. As a result, companies within the spinal fusion device industry are gearing up to innovate and cater to this burgeoning market. The cervical sector predicted speedy increase highlighting the evolving panorama of medical technology and its commitment to addressing crucial healthcare needs.Minimally invasive surgical surgery segment held the largest spinal fusion device market revenue proportion
By Surgery Type, the Spinal Fusion Devices Market is split into Minimally Invasive and Open Spine Surgery. Within the spinal fusion device market, the minimally invasive surgical surgery section become the dominant force in terms of sales. This section emerged as the frontrunner, capturing the lion's proportion of the market's financial returns. The popularity of minimally invasive methods has surged notably in recent years due to their numerous advantages. These strategies commonly involve smaller incisions, decreased recovery times, and much less postoperative discomfort, making them an appealing choice for patients and healthcare companies. This trend underscores a growing preference for less invasive surgical techniques within the spinal fusion device landscape, emphasizing the importance of innovation and performance inside the medical field.Market for spinal fusion devices was controlled by hospitals, representing the largest market share
By End User, the Spinal Fusion Devices Market is classified into Hospitals, Specialty Clinics, and Others. Hospitals, with the most significant marketplace, played a pivotal role in the spinal fusion device market. These healthcare establishments wielded a considerable impact and held a dominant position. This dominance may be attributed to different factors, which include the excessive extent of spinal fusion procedures conducted in clinic settings and their functionality to provide comprehensive spinal care services. Hospitals are appropriately geared up for complex spinal surgical procedures, making them a dependent choice for patients and healthcare specialists. Their strong presence underscored their primary role in the spinal fusion devices market, emphasizing the importance of their know-how and infrastructure in delivering delicate spinal care.Asia Pacific Spinal fusion device market will increase due to growing older population and road accident
By Countries, Spinal Fusion Devices Market is split into North America (United States, Canada), Europe (France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, Turkey), Asia Pacific (China, Japan, India, South Korea, Thailand, Malaysia, Indonesia, Australia, New Zealand), South America (Brazil, Mexico, Argentina), Middle East & Africa (Saudi Arabia UAE, and South Africa). The Asia Pacific region is poised for a significant spinal fusion device market surge. Projections indicate that this sector will witness rapid growth in the foreseeable future.This growth is driven by several key factors, including an expanding aging population, increasing instances of spinal conditions, and advancements in medical technology. The demand for spinal fusion devices is expected to rise as healthcare infrastructure improves and awareness of treatment options increases. This burgeoning market reflects the China and India region's evolving healthcare landscape and the commitment to addressing spinal health issues. As the Asia Pacific region continues to invest in healthcare advancements, the rapid growth of the spinal fusion device market signifies a promising future for patients and the industry.
Key Players
Prominent market participants include Medtronic Plc, Stryker Corporation, Zimmer Biomet Holdings, Orthofix Medical Inc., NuVasive Inc., Globus Medical Inc., Xtant Medical Holdings, and Alphatec Holdings Inc.Product Type - Market Breakup has been covered from 4 viewpoints
- Cervical Devices
- Thoracolumbar Devices
- Interbody Devices
- Biologics
Surgery Type - Market Breakup has been covered from 2 viewpoints
- Open Surgery
- Minimally Invasive
End Users - Market Breakup has been covered from 3 viewpoints
- Hospitals
- Specialty Clinics
- Others
Regions - Market Breakup has been covered from 5 viewpoints
North America
- United States
- Canada
Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherland
- Turkey
Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Malaysia
- Indonesia
- Australia
- New Zealand
Latin America
- Brazil
- Mexico
- Argentina
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
Company Insights:
- Overview
- Recent Development
- Revenue
Company Analysis
- Medtronic Plc
- Stryker Corporation
- Zimmer Biomet Holdings
- Orthofix Medical Inc.
- NuVasive Inc.
- Globus Medical Inc.
- Xtant Medical Holdings
- Alphatec Holdings Inc.
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. Spinal Fusion Device Market
4. Market Dynamics
6. Market Share - Spinal Fusion Device Market
7. Product Type - Spinal Fusion Device Market
8. Surgery Type - Spinal Fusion Device Market
9. End User - Spinal Fusion Device Market
10. Countries - Spinal Fusion Device Market
11. Porter’s Five Forces Analysis - Spinal Fusion Device Market
12. SWOT Analysis - Spinal Fusion Device Market
13. Key Players Analysis
List of Figures
List of Tables
Companies Mentioned
- Medtronic plc
- Stryker Corporation
- Zimmer Biomet Holdings
- Orthofix Medical Inc.
- NuVasive Inc.
- Globus Medical Inc.
- Xtant Medical Holdings
- Alphatec Holdings Inc.
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
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 190 |
| Published | January 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 7.6 Billion |
| Forecasted Market Value ( USD | $ 9.99 Billion |
| Compound Annual Growth Rate | 3.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
