Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global spinal fusion devices market was pegged at US$ 7,462.4 million in 2016 and is further expected to exhibit a strong CAGR of 4.6% over the forecast period (2015-2025).
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New product launches by the leading players of the global spinal fusion devices market is one of the pivotal factors driving the global market growth at present. In 2016, Medtronic Plc. launched its Pivox Oblique Lateral Spinal System with Lateral Plate for Oblique Lateral Interbody Fusion 25 (OLIF25), and Divergence-L Anterior/Oblique Lumbar Fusion System for OLIF51 at the International Meeting on Advanced Spine Techniques (IMAST) in Washington, D.C.
In 2017, Zimmer Biomet Holdings, Inc. introduced its latest product, called Avenue T TLIF Cage, in the U.S. The Avenue T TLIF Cage system is indicated for intervertebral body fusion of the lumbar spine, from L2 to S1, in skeletally mature patients who have had six months of non-operative treatment. The company had also launched its Vitality+ and Vital Spinal Fixation systems in the U.S. in 2014.
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In 2015, Globus Medical, Inc. expanded its expandable spacer’s portfolio by introducing RISE-L, a lateral lumbar interbody fusion (LLIF) device. RISE-L is a vertically expanding LLIF device designed to minimize impaction, maximize indirect decompression, and provide a large graft space optimal for fusion potential. Furthermore, in 2017, the spine division of Stryker launched its Tritanium C Anterior Cervical Cage, a 3D-printed interbody fusion cage intended for application in the cervical spine.
Therefore, burgeoning incidence of spinal disorders, such as degenerative disc diseases, spinal fractures, trauma, and herniated discs, is expected to fuel the demand for spinal fusion devices, thereby accelerating the global market growth over the projected timeline. As per a study published by the World Health Organization (WHO) in 2013, around 250,000 people suffer a spinal cord injury (SCI) every year, while a majority of the injuries caused by road traffic crashes, falls, or violence.
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Key Market Takeaways:
- Lack of alternative therapy and treatment approach is a significant factor predicted to propel the global spinal fusion devices market growth in the near future.
- North America is expected to evolve as the most dominant market for spinal fusion devices over the forecast period, owing to the surging prevalence of spinal disorders, such as degenerative disc diseases, spinal fractures and trauma, and herniated discs, in the region.
- The leading companies involved in the global spinal fusion devices market include Zimmer Biomet Holdings, Inc., Stryker Corporation, Inc., Exactech, Inc., Orthofix International N.V., Globus Medical, Inc., NuVasive, Inc., Medtronic Plc., Depuy Synthes, B. Braun Melsungen AG, Wenzel Spine, Inc., K2M Group Holdings, Inc., Centinel Spine, Inc., and Spineart Geneva SA.
- These players are deeply focused on expanding their global market presence, with the introduction of novel devices and by gaining marketing approvals of their new products in some of the key regions across the globe.
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