The global Spinal Fusion Devices Market is projected to reach USD 8.45 billion by 2026, exhibiting a CAGR of 3.6% during the forecast period. A rapidly rising global geriatric population will be a critical factor driving the growth of this market. According to the United Nations, around 16% of the world’s population will be over the age of 65 by 2050. In North America and Europe, close to 25% of the population will be aged. Aged people are highly vulnerable to various kinds of injuries and spinal cord injuries are one of the most common afflictions of old age. For instance, a study published in the Lancet journal showed that in the US, the average age of patients who suffered from spinal cord damage rose from 40 years to 50 years in just two decades. This shows that as geriatric population increases, the risk of spinal cord injuries also rises in tandem, thereby spiking the demand for spinal arthrodesis devices in the long-run.
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According to a new report published by Fortune Business Insights, titled “Spinal Fusion Devices Market Size, Share & Industry Analysis, By Product Type (Cervical Devices, Thoracolumbar Devices, Interbody Devices, and Biologics), By Disease Indication (Degenerative Disc Disease, Complex Deformity, Traumas & Fractures, and Others), By End User (Hospitals & Ambulatory Surgery Centers, Specialty Clinics and Others) and Regional Forecast, 2019-2026”, the market value stood at USD 6.37 billion in 2018. Within the report is also contained an exhaustive evaluation and analysis of the drivers, restraints, and other dynamics that will influence the market in the forecast period. Besides this, the report also provides a macroscopic overview of the general industry trends that will enable businesses to align their strategies with the needs of the market.
A spinal fusion device or implant is an orthopedic surgical mechanism which is used to join or keep in place two or more vertebrae. They consist of interbody devices, biologics, cervical fixation devices, and thoracolumbar fixation devices.
What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
The COVID-19 pandemic has had a seismic effect on several economies across the globe. To curb the pandemic spread, the governments of several countries have ordered complete lockdown of industrial and human activities. This is expected to have a significant impact on the market in 2020. However, proactive steps by the industry leaders to revive the Healthcare industry will bode well for the growth of the market in the near future.
Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Our research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers and acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
DRIVER RESTRAINTS:
Growing Adoption of Surgical Robots for Spinal Injuries to Prove Favorable for the Market
There is an increasing demand for minimally invasive surgical procedures, prompting many hospitals to adopt robots for performing surgical procedures for the spinal treatments. As a result, manufacturers are now increasingly engaging in developing novel robotic technologies to aid surgeons perform tricky spinal cord surgeries with greater ease and accuracy. Thus, emergence of robotics in healthcare is, therefore, expected to shape the spinal fusion devices market trends during the forecast period.
North America to Hold a Commanding Position; Europe to Display Healthy Growth Pattern
With a revenue generation of USD 3.02 billion in 2018, North America is poised to dominate the spinal fusion devices market share. This will be a result of increasing incidence of chronic pain in the U.S. and a ready adoption of advanced spinal fusion implant devices. In Europe, a rising demand for 3D printed medical devices and a growing proclivity towards minimally invasive procedures will drive the market for spine fusion implants in the continent. Asia-Pacific is anticipated to experience soaring demand for spinal fusion devices owing to the rising prevalence of degenerative spinal disorders and steadily evolving reimbursement policies. In Latin America and the Middle East and Africa, improving healthcare infrastructure will mainly fuel the market for spinal fusion implants in these regions.
Key questions answered in the report:
- What will the market growth rate of Spinal Fusion Devices Market in 2026?
- What are the key factors driving the global Spinal Fusion Devices Market?
- Who are the key manufacturers in Spinal Fusion Devices Market space?
- What are the market opportunities, market risk and market overview of the Spinal Fusion Devices Global market?
- What are sales, revenue, and price analysis of top manufacturers of Spinal Fusion Devices Global market?
- What are sales, revenue, and price analysis by types and applications of Spinal Fusion Devices Market?
- What are sales, revenue, and price analysis by regions of Spinal Fusion Devices Market?
COMPETITIVE LANDSCAPE
This report focuses on Spinal Fusion Devices Market Global Market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application. Regional analysis is another highly comprehensive part of the research and analysis study of the global market presented in the report. This section sheds light on the sales growth of different regional and country-level markets. For the historical and forecast period to 2026, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.
Major companies in the Global Spinal Fusion Devices Market are increasingly focusing on research and development activities to create new and innovative products to stay ahead of the competition. Staying on top of market trends & drivers is crucial for decision-makers to hold this emerging opportunity. The study provides information on market trends and development, drivers, capacities, technologies, and the changing investment structure of the Spinal Fusion Devices Industry.
Wide Availability of Opportunities to Innovate to Stimulate Competition
The spinal fusion devices market is set to receive a new influx of energy as competition in this market tightens. Major players are looking to gain momentum in this burgeoning market by increasing their investment in research to launch novel products and diversify their product portfolio.
Key industry developments include:
- August 2019: NuVasive, Inc. commercially launched its Modulus TLIF-A which is a porous titanium spinal implant designed to aid the transforaminal lumbar interbody fusion procedure. This will be the final installment in the company’s Advanced Materials Science product line aimed for all posterior interbody fusion techniques.
- July 2019: Alphatec Spine unveiled its titanium interbody implant system called IdentiTi. The device is engineered for performing anterior lumbar interbody fusion procedures.
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Fortune Business Insights identifies some of the prominent competitors in this market:
- DePuy Synthes (Johnson & Johnson Services, Inc.)
- Aesculap, Inc. (B. Braun Melsungen AG)
- Stryker
- Alphatec Spine, Inc.
- RTI Surgical Holdings, Inc.
- Zimmer Biomet
- Medtronic
- NuVasive, Inc.
Some major points from Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Key Spinal Diseases – For Key Countries/Regions
- Regulatory Scenario – For Key Countries/Regions
- Reimbursement Scenario – For Key Countries/Regions
- New Product Launches
- Key industry Developments – Mergers, Acquisitions and Partnerships
- Key Industry Trends
- Global Spinal Fusion Devices Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Cervical Devices
- Thoracolumbar Devices
- Interbody Devices
- Biologics
- Market Analysis, Insights and Forecast – By Disease Indication
- Degenerative Disc Disease
- Complex Deformity
- Traumas & Fractures
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals & Ambulatory Surgery Centers
- Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Spinal Fusion Devices Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Cervical Devices
- Thoracolumbar Devices
- Interbody Devices
- Biologics
- Market Analysis, Insights and Forecast – By Disease Indication
- Degenerative Disc Disease
- Complex Deformity
- Traumas & Fractures
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals & Ambulatory Surgery Centers
- Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Country
- S.
- Canada
- Europe Spinal Fusion Devices Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Cervical Devices
- Thoracolumbar Devices
- Interbody Devices
- Biologics
- Market Analysis, Insights and Forecast – By Disease Indication
- Degenerative Disc Disease
- Complex Deformity
- Traumas & Fractures
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals & Ambulatory Surgery Centers
- Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Countries/ Sub-region
- K.
- Germany
- France
- Spain
- Italy
- Scandinavia
- Rest of Europe
- Asia Pacific Spinal Fusion Devices Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Cervical Devices
- Thoracolumbar Devices
- Interbody Devices
- Biologics
- Market Analysis, Insights and Forecast – By Disease Indication
- Degenerative Disc Disease
- Complex Deformity
- Traumas & Fractures
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals & Ambulatory Surgery Centers
- Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Countries/ Sub-region
- Japan
- China
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
Continued…
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List of Figures
Figure 1: Global Spinal Fusion Devices Market Revenue Breakdown (US$ Mn, %) by Region, 2018 & 2026
Figure 2: Global Spinal Fusion Devices Market Value Share (%), by Product Type, 2018 & 2026
Figure 3: Global Spinal Fusion Devices Market Forecast (US$ Mn), by Cervical Devices, 2015-2026
Figure 4: Global Spinal Fusion Devices Market Forecast (US$ Mn), by Thoracolumbar Devices, 2015-2026
Figure 5: Global Spinal Fusion Devices Market Forecast (US$ Mn), by Interbody Devices, 2015-2026
Figure 6: Global Spinal Fusion Devices Market Forecast (US$ Mn), by Biologics, 2015-2026
Figure 7: Global Spinal Fusion Devices Market Value Share (%), by Disease Indication, 2018 & 2026
Figure 8: Global Spinal Fusion Devices Market Forecast (US$ Mn), by Degenerative Disc Disease, 2015-2026
List of Tables
Table 1: Global Spinal Fusion Devices Market Revenue (US$ Mn) Forecast, by Product Type, 2015–2026
Table 2: Global Spinal Fusion Devices Market Revenue (US$ Mn) Forecast, by Disease Indication, 2015–2026
Table 3: Global Spinal Fusion Devices Market Revenue (US$ Mn) Forecast, by End-user, 2015–2026
Table 4: Global Spinal Fusion Devices Market Revenue (US$ Mn) Forecast, by Region, 2015-2026
Table 5: North America Spinal Fusion Devices Market Revenue (US$ Mn) Forecast, by Product Type, 2015-2026
Table 6: North America Spinal Fusion Devices Market Revenue (US$ Mn) Forecast, by Disease Indication, 2015-2026
Table 7: North America Spinal Fusion Devices Market Revenue (US$ Mn) Forecast, by End-user, 2015-2026
Table 8: North America Spinal Fusion Devices Market Revenue (US$ Mn) Forecast, By Country, 2015-2026
Highlights of the Report
- In-depth analysis of various insights, namely, Spinal Fusion Devices Market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and market shares.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
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