What Has Been The Evolution of the Spinal Fusion Devices Market in Recent Years?
The spinal fusion devices market has seen considerable growth due to a variety of factors.
• In recent times, the market for spinal fusion devices has seen significant growth. Predictions suggest it will increase from $7.85 billion in 2024 to $8.31 billion in 2025, with a compound annual growth rate (CAGR) of 5.8%.
The boost throughout the historical period can be associated with an escalating incidence of degenerative spine ailments, an increasing elderly population, progression in surgical technology, elevated awareness regarding spinal health, higher demand for less invasive procedures, betterment of healthcare infrastructure, and a spike in spinal injuries.
What Is the Forecasted Market Size and Growth Rate for The Spinal Fusion Devices Market Size In The Coming Years?
The spinal fusion devices market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the market for spinal fusion devices is predicted to expand significantly, eventually reaching a value of $10.24 billion in 2029 with a compound annual growth rate (CAGR) of 5.4%.
The projection for this growth can be credited to various factors including a higher occurrence of spinal abnormalities, improved healthcare provisions in developing economies, a growing preference for customised medication, an increase in the elderly population, and an uptick in funding for research and development related to the spine. Noteworthy trends predicted for this timeframe encompass the adoption of less intrusive surgical methods, the use of robots for surgical procedures, breakthroughs in biologics and regenerative medicine, the innovation of intelligent spinal implants, the application of 3D printing, and the incorporation of digital technologies.
What Factors Are Driving Growth In The Spinal Fusion Devices Market?
The growth of the market for spinal fusion devices is expected to be fuelled by the rising number of spinal disorders. Such disorders are a range of medical conditions that impact the spine and its associated elements, including the spinal cord, vertebrae, nerves, intervertebral discs, and ligaments. The prevalence of spinal complaints is having a surge owing to factors like an aging populace, inactive lifestyles, and enhanced diagnostic abilities. Spinal fusion devices are used to control the escalating prevalence of spinal disorders by stabilizing the spine, relieving pain and enhancing functionality via surgical procedures. To illustrate, in February 2024, data from the National Spinal Cord Injury Statistical Center (NSCISC), a research organization based in the US, indicated that in 2023, the annual occurrence of traumatic spinal cord injury (tSCI) was roughly 54 cases per million people, equating to nearly 18,000 fresh tSCI cases annually. Thus, the escalating prevalence of spinal disorders is propelling the expansion of the spinal fusion device market.
What Are The Main Segments Of The Global Spinal Fusion Devices Market?
The spinal fusion devices market covered in this report is segmented –
1) By Type: Cervical Fusion Device, Thoracic Fusion Device, Lumbar Fusion Device
2) By Material: Metallic Devices, Non Metallic Devices
3) By Surgery: Open Spine Surgery, Minimally Invasive Spine Surgery
4) By Disease Type: Degenerative Disc, Complex Deformity, Trauma And Fractures, Other Diseases
5) By End-User: Hospital, Ambulatory Service Centers, Orthopedic Centers, Other End-Users
Subsegments:
1) By Cervical Fusion Device: Anterior Cervical Discectomy And Fusion (ACDF) Devices, Cervical Plates And Screws, Cervical Interbody Fusion Devices (IBFDs), Minimally Invasive Cervical Fusion Devices
2) By Thoracic Fusion Device: Thoracic Interbody Fusion Devices, Thoracic Plates And Screws, Anterior Thoracic Fusion Devices, Posterior Thoracic Fusion Devices
3) By Lumbar Fusion Device: Lumbar Interbody Fusion Devices (LIFDs), Lumbar Pedicle Screws And Rods, Expandable Interbody Fusion Devices, Minimally Invasive Lumbar Fusion Devices
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What New Trends Are Influencing The Spinal Fusion Devices Market?
Key players in the spinal fusion devices market such as NovApproach Spine, are investing their resources in the development of innovative products like interbody spinal fusion systems. These systems are designed to increase surgical precision, bolster the stability of the implant, and augment overall patient results. Interbody spinal fusion systems are specialized medical devices that are utilized in spine surgeries to stabilize the backbone and encourage fusion between the vertebrae. In particular, the U.S based firm, NovApproach Spine, unveiled OneLIF in October 2023. This progressive interbody spinal fusion system enhances the accuracy and effectiveness of spinal fusion surgeries by providing state-of-the-art instrumentation and implant technology that fosters ideal alignment, firmness, and fusion rates in the lumbar spine. The device is primarily used for treating lumbar spinal conditions such as degenerative disc disease and spinal stenosis, while enabling less invasive surgeries aimed at shortening healing periods and improving patient results.
Who Are the Key Players In The Spinal Fusion Devices Market?
Major companies operating in the spinal fusion devices market are:
• Johnson & Johnson
• Medtronic plc
• Stryker Corporation
• Zimmer Biomet Holdings Inc.
• NuVasive Inc.
• Globus Medical Inc.
• Medacta International SA
• Orthofix Medical Inc.
• Exactech Inc.
• Paradigm Corp
• SeaSpine Holdings Corporation
• Xtant Medical Holdings Inc.
• Spinal Elements Inc.
• Surgalign Holdings Inc.
• Precision Spine Inc.
• Spine Wave Inc.
• SpineFrontier Inc.
• Zavation Medical Products
• Aurora Spine Corporation
• Nexxt Spine LLC
• Camber Spine Technologies LLC
• Captiva Spine Inc.
• Viseon Inc.
What Is The Most Dominant Region In The Spinal Fusion Devices Market?
North America was the largest region in the spinal fusion devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the spinal fusion devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
