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“Increase in adoption of minimally invasive spine surgery (MISS) presents lucrative opportunities for key players in the spinal fusion devices market. MISS is preferred to conventional techniques, owing to its associated benefits such as minimal cut or incision, which in turn reduces the chances of damage caused to the adjacent muscles.”
Global Spinal Fusion Devices Market was valued at $5.86 billion in 2015, and is expected to reach $7.43 billion by 2022, with a CAGR of 3.4% during study period 2016-2022.
Spine fusion devices are used to treat the disorders associated with the spine. These devices restore the functionality and maintain the normal alignment of the spine. Spine fusion devices are categorized into thoracolumbar devices, cervical fixation devices, and interbody fusion devices.
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Global Spinal Fusion Devices Market Report provides an overview of the market based on key parameters such as market size, sales, sales analysis and key drivers. The market size of the market is expected to grow on a large scale during the forecast period (2019-2026). This report covers the impact of the latest COVID-19 on the market. The coronavirus epidemic (COVID-19) has affected all aspects of life around the world. This has changed some of the market situation. The main purpose of the research report is to provide users with a broad view of the market. Initial and future assessments of rapidly changing market scenarios and their impact are covered in the report.
The global spinal fusion devices market is driven by factors such as advent of minimally invasive spine surgery techniques and rise in incidence of spinal disorders. In addition, surge in geriatric population is anticipated to fuel the demand for spinal fusion devices, globally. However, unfavorable reimbursement scenario and stringent regulatory approval process hamper the market growth.
The thoracolumbar fusion devices segment generated the highest revenue in the global market, and accounted for more than two-fifths share of the global market. In addition, the interbody fusion devices segment is expected to grow at a CAGR of 3.6% during the forecast period.
North America accounted for the majority revenue share in 2015, and is expected to maintain this trend during the forecast period. However, the Asia-Pacific region is projected to grow rapidly, registering a CAGR of 4.6% during the forecast period. Improving healthcare infrastructure and increase in expenditures in the emerging markets, such as India and China, to cater to the unmet medical needs in these countries have bolstered the market growth.
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The key players in the spinal fusion devices market have focused on expanding their business operations in the fast-growing economies by adopting the product launch strategy.
The Major Key Players Are:
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.
Scope of The Report:
|Market size available for years||2015-2022|
|Base year considered||2015|
|Forecast units||Value (USD)|
|Segments covered||Product, and Surgery|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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