The Spinal Fusion Devices Market is segmented by Type (Thoracolumbar Devices, Cervical Fixation Devices, Interbody Fusion Devices, and Biologics), by Surgery Type (Minimally Invasive Spine Surgery and Open Spine Surgery), by End User Type (Hospitals, Specialty Clinics, and Others)and by Region(North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Italy, Spain, and Rest of Europe] and Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], The Middle East and Africa, South America).
The Spinal Fusion Devices Market is segmented by Type (Thoracolumbar Devices, Cervical Fixation Devices, Interbody Fusion Devices, and Biologics), by Surgery Type (Minimally Invasive Spine Surgery and Open Spine Surgery), by End User Type ...
"The spinal fusion devices market was valued at US$ 6.9 billion in 2022 and is projected to reach US$ 9.07 billion by 2028, growing at a CAGR of 4.64% during the forecast period".
Spinal fusion devices are used in spinal surgeries. Degenerative Disc Disease (DDD) and herniated disc are some spinal diseases for which spinal surgeries take place across the world. In the United States, there are ~17,000 new cases of spinal cord injury each year, and approx. ~282,000 persons are estimated to be living with spinal cord injury.
Spinal Fusion Devices Market Report Overview
Market Size in 2022
USD 6.9 billion
Market Size in 2028
USD 9.07billion
Market Growth (2022-2028)
4.64% CAGR
Base Year of Study
2021
Trend Period
2016-2020
Forecast Period
2022-2028
Market Drivers
Spinal fusion devices are implanted into the spinal cord during surgery in injured patients. The global spinal fusion devices market is witnessing growth over the forecast period. Some of the key drivers influencing the market growth are the aging world's population as a result of declining birth rates and improving life expectancy.
The demographic shift of populations toward aging indicates an increasing demand for therapy of spine disorders such as spinal nerve issues, osteoporosis, neck pain, low back pain, chronic back pain, and spondylolisthesis.
Spinal fusion devices are also used in fusion treatment and anterior cervical discectomy to reduce chronic neck and back pain. Moreover, disc replacement is a key factor driving the market growth. The disc replacement process includes bone grafting which means removing or replacing a damaged spinal disc with an artificial disc.
Additional factors contributing to the growth of the spinal fusion devices market are advancements in spine surgery, the increase in the prevalence of spinal disorders, and the shift towards minimally invasive spine procedures. However, the high cost of spinal fusion surgeries and lack of awareness in underdeveloped areas are some key challenges in the global marketplace.
Spinal stenosis is the most common spinal disorder in men and women in 50+ years. The geriatric population, co-morbidities, and/or compromised immunity are at high risk for spinal impairments. Spine-level treatment options are witnessing technological developments with novel age spine fusion and devices. Also, the use of these devices and implants is one of the most effective recommended options for the treatment of spine degeneration and misalignments.
COVID-19 Impact:
The COVID-19 pandemic impacted the revenue generation of spinal fusion device manufacturers around the globe. The sales impact of manufacturers is due to prolong lockdown implemented globally and halted supply chains across the globe. This impacted the overall market negatively. Hospitals have also announced cancelation, postponement, and reduction of elective surgeries, including many spine and orthopedic cases, resulting in discontinuity of business operations and other related procedures that directly influence the revenue generation of the spinal fusion devices market.
Segment Analysis
By Product Type
"Thoracolumbar devices segments hold the largest share for spinal fusion devices industry"
The market is divided into thoracolumbar devices, cervical fusion devices, interbody fusion devices, and Biologics. Studying the spinal fusion devices market shows that thoracolumbar device segments hold the largest share of the spinal fusion devices industry.
By End-User Type
"Hospitals segment holds the dominant position in the global spinal fusion devices market"
The market is segmented into hospitals, specialty clinics, and others. In this market, the Hospitals segment holds the dominant position in the global spinal fusion devices market.
By Surgery Type
The open surgery segment is witnessing a decline in overall revenue generation over the forecast period. Open surgery has many side effects such as high invasiveness, and increased operational time which may result in excessive blood loss posing a high risk of infection or damage to normal tissues.
Regional Analysis
"Asia-Pacific spinal fusion devices market possesses a high share in the global market"
Asia-Pacific spinal fusion devices market possesses a high share in the global market. The regional dominance is attributed to constant growth in healthcare expenditure coupled with a rise in incidences of spinal disorders in the region. Also, the region witnesses a rapid growth of the geriatric population in China and India along with the low cost of spinal procedures in the same countries as compared to developed countries across the globe. India witnessed a significant number of spinal surgeries. As per the data, spinal surgeries are performed in over 2,000 hospitals in India, with complex and sophisticated surgeries such as microscopic spine surgery.
This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories.
By Type
Thoracolumbar Device
Cervical Fixation Device
Interbody Fusion Devices and Biologics
By Surgery Type
Minimally Invasive Spine Surgery
Open Spine Surgery
By End-User Type
Hospital
Specialty Clinic
Other
By Region
North America (Country Analysis: the USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Key Players
The following are the key players in the Spinal Fusion Devices Market (arranged alphabetically)
The global spinal fusion devices market is fairly fragmented in the competitive landscape. The market witnessed the presence of various large and medium-sized players accounting for a significant share of global market revenue. Major players are adopting various competitive strategies to improve their product portfolio and to maintain competitiveness in the global marketplace. For instance:
In December 2020, Alphatec announced the acquisition of EOS Imaging, S.A., a company that deals in biplanar full-body imaging and 3D modeling. This acquisition focused on improving the portfolio and inventory efficiency of Alphatec.
In February 2021, NuVasive acquired Simplify Medical, a privately held company and developer of the Simplify Cervical Artificial Disc for cervical total disc replacement (cTDR) for US$ 150 million to expand its cervical spine technology portfolio.
In March 2021, IMPLANET acquired a majority stake in Orthopedic & Spine Development (OSD) specializing in spine surgical implants. This acquisition will allow IMPLANT to create a benchmark in orthopedic surgery in France.
Note: The above list does not necessarily include all the top players in the market.
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Report Features
This report provides intelligence most fully. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the global market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Spinal Fusion Devices Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market Segment Analysis and Forecast
What are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirements?
10% free customization
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the lithium-ion battery market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
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Company Profiling
Detailed profiling of additional market players (up to three players)
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Competitive Benchmarking
Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances
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Spinal fusion devices are used in spinal surgeries. Degenerative Disc Disease (DDD) and herniated disc are some spinal diseases for which spinal surgeries take place across the world.
Some major players included in the global spinal fusion devices market report are: Medtronic (US), Stryker Corporation (US), Zimmer Biomet (US), Globus Medical (US), Exactech, Inc. (US), Orthofix Medical Inc. (US), ATEC Spine, Inc. (US), Integra LifeSciences (US), Norman Noble, Inc. (US), Xtant Medical (US), Spine Wave, Inc. (US), Captiva Spine, Inc. (US), Wenzel Spine (US), Jayon Implants (India), Tecomet, Inc. (US), SINTX Technologies, Inc. (US), Abbott (US), Meditech Spine, LLC (US), Boston Scientific Corporation (US), Alphatec Holdings, Inc. (US), GPC Medical Ltd. (India).
The global spinal fusion devices market is witnessing a growth over the forecast period. Some of the key drivers influencing the market growth are aging world's population as a result of declining birth rates and improving life expectancy.
