Spinal Fusion Device Market Size To Reach $8.8 Billion By 2028 Owing To Increasing Elderly Populace Coupled With Rising Figures of Spinal Complaints | Million Insights
The global spinal fusion device market is estimated to arrive at USD 8.8 billion by 2028. It is projected to develop by 4.4% CAGR from 2021 to 2028.
The rising figure of spine associated sicknesses plus the technical progression in spinal fusion surgeries, is increasing the enlargement of the market for spinal fusion device.
In 2020, because of the cancellations or else the postponement of not obligatory surgical actions, the market experienced a minor decline in the development percentage.
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As equated to Q1 of 2019, Nuvasive registered a cut in the revenue by 5.4% in Q1 of 2020; this was the result of locked down, got imposed due to the outbreak of Covid-19 pandemic. But, because of relieve of the lockdown and recommencement of surgical treatments, the market faced revival, throughout the Q3 of 2020.
Orthofix got FDA 510 (k) permission for the Forza Ti spacer system, intended for the transformational lumbar inter body fusion actions, in May 2021. To increase the spine range, ATEC presented the InVictus Occipital-Cervical-Thoracic Spinal Fixation System, in March 2021. The abovementioned things are estimated to increase the revenue share of the spinal fusion device market, during the forecast period.
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Further key findings from the report suggest:
• In terms of the revenue share, North America led the global market, in 2020.Technical progression, augmented figure of the marked population and sophisticated healthcare infrastructure are the factors, expected to add to enlargement of the market, within the state.
• In 2020, the degenerative disc section detained the biggest, more than 42.0% revenue share of the market for spinal fusion device. The augmentation can be credited to the increasing marked inhabitants plus the rising number of neck pain as well as lower back pain, in adults.
• Due to the technical progressions as well as the augmented figure of thoracolumbar complaints, the thoracolumbar devices led the product sector of the market, in 2020.
• The hospitals division detained the principal share of revenue, in 2020. The enlargement can be credited to the highly developed alternatives for the treatment plus the greater amount of patient footfall.
• The minimally invasive section held the biggest, more than 64.0% revenue share and led the spinal fusion devices market in 2020. The linked advantages like better revival period, fewer blood losses and a lesser amount of surgical treatment time, are the factors increasing the expansion of the section.
Million Insights segmented the global spinal fusion device market based on End User, Surgery, Disease Type, Product, and Region.
Spinal Fusion Device Product Outlook (Revenue, USD Million, 2016 – 2028)
• Thoracolumbar Devices
• Anterior Lumbar Plates
• Pedicle Screw and Rods
• Others
• Cervical Fixation Devices
• Anterior Cervical Plates
• Hook Fixation Systems
• Others
• Interbody Fusion Devices
Spinal Fusion Device Disease Type Outlook (Revenue, USD Million, 2016 – 2028)
• Degenerative Disc
• Complex Deformity
• Trauma & Fractures
• Others
Spinal Fusion Device Surgery Outlook (Revenue, USD Million, 2016 – 2028)
• Open spine surgery
• Minimally Invasive Spine Surgery
Spinal Fusion Device End-User Outlook (Revenue, USD Million, 2016 – 2028)
• Hospitals
• Specialty Clinics
• Others
Spinal Fusion Device Regional Outlook (Revenue, USD Million, 2016 – 2028)
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
Companies
Various companies for spinal fusion device market are:
• Xtant Medical Holdings, Inc.
• Spine Wave, Inc.
• SeaSpine
• ATEC Spine, Inc
• NuVasive, Inc.
• B. Braun Melsungen AG
• Zimmer Biomet
• Johnson & Johnson Services, Inc. (DePuy Synthes)
• Spineology, Inc.
• Spinal Elements, Inc.
• Captiva Spine, Inc
• Globus Medical
• Medtronic
• Orthofix Medical, Inc.
• Stryker
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