According to a recent Emergen Research study, the global Spinal Fusion Devices Market will be worth USD 8.90 billion by 2027. The increasing condition of spine degeneration among the aging population can be attributed to the growth of this market, as people over the age of 65 are more likely to experience symptomatic spinal conditions as a result of natural degeneration. The emergence of better healthcare technology in emerging economies as healthcare budgetary allocation increases is expected to drive the growth of the spinal fusion devices market over the forecast period.
Spinal disorders, such as spinal stenosis, are the most common issue in men and women over the age of 50. The aging population, including those with comorbidities and/or compromised immunity, is at high risk for spinal impairments. With the introduction of new age spine fusion and devices, treatment options for the spine are constantly evolving. Furthermore, the use of these implants and devices is one of the most effective and recommended treatments for spine misalignments or degenerative changes. The shift toward minimally invasive spine procedures, the increased prevalence of spinal disorders, and advancements in spine surgery are all major factors contributing to the growth of the spinal fusion devices market. Market forecast for spinal fusion devices from 2020 to 2027.
The COVID-19 pandemic, on the other hand, hurt the global spinal fusion device market, owing to the increased stress of patients infected with COVID-19 in hospitals. According to a National Center for Biotechnology Information article, in August 2020, hospitals experienced rapid overcrowding due to COVID-19 patients, and many spinal surgeons were called upon to care for the Covid-19 patients. The cancellation of elective surgery cases, as well as the postponement of interventional spinal procedures and surgeries, coincided with this significant shift in a clinical role. Such cancellations are made for two reasons: to reduce patient and provider exposure to COVID-19, and to conserve personal protective equipment and other valuable resources.
Some Key Highlights from the Report
DePuy Synthes Companies introduced the SYMPHONY Occipito-Cervico-Thoracic (OCT) System in November 2019. The company’s newly launched system is expected to aid in the surgical treatment of conditions in the neck and upper back. The system consists of a collection of implants and instruments that can be used to stabilize the spine in patients undergoing Posterior Cervical Fusion Surgery.
In 2019, the thoracolumbar devices segment had the largest market share of 45.3%. The aging population’s increased demand for spinal care is expected to fuel the growth of thoracolumbar devices.
Over the forecast period, Minimally Invasive Spine Surgery is expected to grow at the fastest CAGR of 4.0%. The risks associated with open surgeries are driving an increase in the use of Minimally Invasive Spine Surgery by healthcare professionals.
Braun Melsungen, Alphatec Holdings, Inc., Exactech, Inc., DePuy Synthes Companies (Johnson & Johnson Services, Inc.), Medtronic PLC, Globus Medical, Inc., NuVasive, Inc., Stryker Corporation, Orthofix International N.V., and Zimmer Biomet Holdings, Inc. are among the key participants.
Emergen Research has segmented the global Spinal Fusion Devices Market based on Product, Surgery, End User, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Cervical Fixation Devices
- Thoracolumbar Devices
- Interbody Fusion Devices
Surgery Outlook (Revenue, USD Billion; 2017-2027)
- Minimally Invasive Spine Surgery
- Open Spine Surgery
End User Outlook (Revenue, USD Billion; 2017-2027)
- Specialty Clinics
- Hospitals & Ambulatory Surgery Centers
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- the U.S.
- the UK
- Rest of Europe
- the Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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