The spinal fusion devices market size is expected to reach US$ 12,993.25 million by 2030 from US$ 8,276.31 million in 2022; it is estimated to record a CAGR of 5.8% from 2022 to 2030.
In recent years, there has been a rise in spinal fusion procedures worldwide due to growing innovations in surgical approaches. Technological developments have offered a wide variety of interbody devices. The newly introduced spinal fusion devices are now used as alternatives in bone grafting materials, increasing the number of spine fusion procedures. The advancements in spinal fusion techniques have allowed the utility of pedicle screws for posterior instrumentation, which has leveraged market growth. Similarly, the introduction of spinal fusion methods, with interbody fusion with stand-alone cages and with anterior, lateral, or posterior approaches, designed for different surgical indications and surgeon preferences, and patient conditions have significantly increased the number of spinal fusion procedures.
Over time, the indications for spinal fusion have broadened, leading to increasing spinal fusion procedures. As per a study published in Clinical Orthopaedics and Related Research (CORR) by the Association of Bone and Joint Surgeons published in Wolters Kluwer in February 2023, stated that the demand for posterior spinal fusion procedures will grow by 80% by 2060. The study also stated that the demand would be seen in patients aged 75 years and above. The projections stated that by 2060, 38,974 posterior spinal fusion procedures would be performed in patients 75 years and above, compared to 14,657 in 2019. The increase in the procedures will be seen due to age-related loss of muscle mass. Thus, considering the projection for spinal fusion procedures, the market is likely to accelerate significantly during the forecast period and will have substantial market growth beyond the forecast period.
Based on product type, the market for spinal fusion devices is bifurcated into thoracolumbar, cervical fixation, and interbody fusion devices. In 2022, the thoracolumbar devices segment was the largest market share holder by product type. The interbody fusion devices segment is estimated to grow at a significant CAGR during 2022-2030 due to growing developments for interbody fusion devices.
The spinal fusion devices market, by surgery type is segmented into minimally invasive spine surgery and open spine surgery. In 2022, the open spine surgery segment held the largest market share by surgery. The minimally invasive spine surgery segment is projected to grow at a fastest CAGR during 2022-2030 due to the increasing adoption of the minimally invasive spine surgery approach.
The spinal fusion devices market is classified into degenerative disc, trauma and fractures, complex deformity, and others based on disease indication. In 2022, the degenerative disc segment held the largest share of the market by disease indications. The same segment is estimated to grow with highest CAGR during 2022-2030 due to the growing geriatric population that is more prone to degenerative diseases.
Based on end user, the spinal fusion devices market is divided into hospitals, specialty clinics, and others. In 2022, the hospitals segment was the largest market holder. And the same segment is expected to grow at the fastest rate during the coming years.
Major players operating in the spinal fusion devices market are DePuy Synthes Inc; Stryker Corp; B. Braun SE, ATEC Spine Inc; Globus Medical Inc; NuVasive Inc; ZimVie Inc; Medtronic Plc; Centinel Spine LLC, and Orthofix Medical Inc.
The American Association for Thoracic Surgery (AATS), Food and Drug Administration (FDA), Ministry of Health, Labor and Welfare (MHLW), Centers for Disease Control and Prevention (CDC), and Spanish National Health System (SNS) among others are a few key primary and secondary sources referred to while preparing the report on the spinal fusion devices market.
Reasons to Buy
In recent years, there has been a rise in spinal fusion procedures worldwide due to growing innovations in surgical approaches. Technological developments have offered a wide variety of interbody devices. The newly introduced spinal fusion devices are now used as alternatives in bone grafting materials, increasing the number of spine fusion procedures. The advancements in spinal fusion techniques have allowed the utility of pedicle screws for posterior instrumentation, which has leveraged market growth. Similarly, the introduction of spinal fusion methods, with interbody fusion with stand-alone cages and with anterior, lateral, or posterior approaches, designed for different surgical indications and surgeon preferences, and patient conditions have significantly increased the number of spinal fusion procedures.
Over time, the indications for spinal fusion have broadened, leading to increasing spinal fusion procedures. As per a study published in Clinical Orthopaedics and Related Research (CORR) by the Association of Bone and Joint Surgeons published in Wolters Kluwer in February 2023, stated that the demand for posterior spinal fusion procedures will grow by 80% by 2060. The study also stated that the demand would be seen in patients aged 75 years and above. The projections stated that by 2060, 38,974 posterior spinal fusion procedures would be performed in patients 75 years and above, compared to 14,657 in 2019. The increase in the procedures will be seen due to age-related loss of muscle mass. Thus, considering the projection for spinal fusion procedures, the market is likely to accelerate significantly during the forecast period and will have substantial market growth beyond the forecast period.
Minimally Invasive Spine Surgery Segment Is Likely to Boost the Growth Of Spinal Fusion Devices Market At a Faster Rate
Minimally invasive spine surgery type (MISS) has gained notable attention over traditional open spine surgery type. MISS requires smaller incisions; therefore, convincing patients to undergo MISS is easier. Other advantages such as avoiding damage to the surrounding muscles, less bleeding, less pain, faster recovery, and shorter hospital stays have increased the adoption of MISS. At present, MISS is considered a common procedure for spinal fusion. The higher adoption of MISS includes treating spinal problems in older and critically sick people by limiting the risks and changing reimbursement patterns and patient preferences. In addition, transformations in MISS have introduced new intraoperative imaging techniques by combining powerful software. The combination of imaging techniques and software allows real-time navigation for surgeons to supplement their understanding of the spine's 3-dimensional (3D) anatomy. Thus, the transformation in MISS is leading to the segment's fastest growth, eventually driving market growth. According to an article titled “Minimally Invasive Spine Surgery Type: An Overview,” published in July 2022, ~75% of 1.2 million spine procedures in the US are performed annually by MISS techniques. Similarly, an article, “Spinal Endoscopy: Evidence, Techniques, Global Trends, and Future Projections,” published in January 2022, stated that 96.7% of Asian surgeons perform MISS. Thus, considering the increasing number of MISS procedures, the market is anticipated to grow notably in the coming years.Report Segmentation:
The segmentation of spinal fusion devices in done on the basis of product type, surgery type, disease indication, and end user.Based on product type, the market for spinal fusion devices is bifurcated into thoracolumbar, cervical fixation, and interbody fusion devices. In 2022, the thoracolumbar devices segment was the largest market share holder by product type. The interbody fusion devices segment is estimated to grow at a significant CAGR during 2022-2030 due to growing developments for interbody fusion devices.
The spinal fusion devices market, by surgery type is segmented into minimally invasive spine surgery and open spine surgery. In 2022, the open spine surgery segment held the largest market share by surgery. The minimally invasive spine surgery segment is projected to grow at a fastest CAGR during 2022-2030 due to the increasing adoption of the minimally invasive spine surgery approach.
The spinal fusion devices market is classified into degenerative disc, trauma and fractures, complex deformity, and others based on disease indication. In 2022, the degenerative disc segment held the largest share of the market by disease indications. The same segment is estimated to grow with highest CAGR during 2022-2030 due to the growing geriatric population that is more prone to degenerative diseases.
Based on end user, the spinal fusion devices market is divided into hospitals, specialty clinics, and others. In 2022, the hospitals segment was the largest market holder. And the same segment is expected to grow at the fastest rate during the coming years.
Major players operating in the spinal fusion devices market are DePuy Synthes Inc; Stryker Corp; B. Braun SE, ATEC Spine Inc; Globus Medical Inc; NuVasive Inc; ZimVie Inc; Medtronic Plc; Centinel Spine LLC, and Orthofix Medical Inc.
The American Association for Thoracic Surgery (AATS), Food and Drug Administration (FDA), Ministry of Health, Labor and Welfare (MHLW), Centers for Disease Control and Prevention (CDC), and Spanish National Health System (SNS) among others are a few key primary and secondary sources referred to while preparing the report on the spinal fusion devices market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the spinal fusion devices market.
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Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Spinal Fusion Devices Market Landscape
5. Spinal Fusion Devices Market - Key Industry Dynamics
6. Spinal Fusion Devices Market - Global Market Analysis
7. Global Spinal Fusion Devices Market - Revenue and Forecast to 2030 - by Product Type
8. Global Spinal Fusion Devices Market - Revenue and Forecast to 2030 - by Surgery Type
9. Global Spinal Fusion Devices Market - Revenue and Forecast to 2030 - by Disease Indications
10. Global Spinal Fusion Devices Market - Revenue and Forecast to 2030 - by End User
11. Spinal Fusion Devices Market - Geographical Analysis
12. Pre & Post Covid-19 Impact
13. Spinal Fusion Devices Market Industry Landscape
14. Company Profiles
15. Appendix
Companies Mentioned
- DePuy Synthes Inc.
- Stryker Corp
- B. Braun SE
- ATEC Spine Inc.
- Globus Medical Inc.
- NuVasive Inc.
- ZimVie Inc.
- Medtronic Plc
- Centinel Spine LLC
- Orthofix Medical Inc.
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 208 |
Published | September 2023 |
Forecast Period | 2022 - 2030 |
Estimated Market Value ( USD | $ 8.28 Billion |
Forecasted Market Value ( USD | $ 12.99 Billion |
Compound Annual Growth Rate | 5.8% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |