Pharma Dive

Spinal Fusion Devices Market Estimated to Grow over $12,728.6 Million by 2028

Pressmeddelande   •   Aug 27, 2019 18:51 CEST

The global spinal fusion devices market was amounted to $7,519.2 million in 2018, and is estimated to grow over $12,728.6 million by 2028.

The global spinal fusion devices market is expected to grow at a single-digit compound annual growth rate between the years 2019 and 2028, primarily driven by the increasing prevalence of spinal disorders. Growing geriatric population further leading to spinal degeneration and increase in the incidence of fall, is further bolstering the spinal fusion devices market.

Modern lifestyle has resulted in increasing physical inactivity among people, globally. Among various medical problems associated with physical inactivity, spinal disorders are the most critical. Spinal disorders are considered one of the primary causes of disability across the world, resulting in a substantial burden on the healthcare industry. Spinal fusion surgery is an established and widely adopted procedure for the treatment of low back pain.

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Low back pain in the elderly population is due to age-related changes in the lumbar spine structure and these changes are further associated with the lifestyle of the patient. Spine fractures are one of the common injuries occurring due to fall in the geriatric population.

Moreover, technological evolution in the medical industry has given rise to a number of minimally invasive procedures for spinal surgeries. With minimally invasive techniques, patients are offered an option safer than open surgeries.

However, along with the benefits of spinal fusion surgery, are attached to the complications and risks associated with the spinal fusion surgery. Moreover, due to the higher demand for better and safer medical devices, the regulations on the device market have increased. This has led to challenges for the entry of products into the major U.S. and European markets as well as in the emerging market.

Research Highlights:

  • Majority of companies i.e., NuVasive, Inc., Globus Medical, and SeaSpine Holdings Corporation are launching novel products into the market and sustaining the competition through the development of a wide range of products in the spinal fusion devices market.
  • Companies i.e. Medtronic, Plc and Stryker Corporation are acquiring companies to improve their position in the spine market and to improve their product portfolio and global presence.
  • Medtronic plc signed a definitive agreement to acquire Titan Spine, to alter spinal procedures and improve procedural solutions.
  • Globus Medical, Inc. partnered with the Society of Lateral Access Surgery's (SOLAS), to support key educational and research initiatives to advance lateral access surgery.
  • APAC region, for spinal fusion devices, is expected to grow at a CAGR of 8.95% during the forecast period as this region is highly populated and its geriatric population is increasing, further leading to an increase in the medical tourism.

This market intelligence report provides a multidimensional view of the global spinal fusion devices market in terms of market size and growth potential. This research report aims at answering various aspects of the global spinal fusion devices market with the help of key factors driving the market, restraining factors that can possibly inhibit the overall market growth, and the current growth opportunities that are expected to shape the future trajectory of the market expansion.

Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launches, partnerships, collaborations, business expansions as well as mergers and acquisitions, among others. The research report provides a comprehensive analysis of the trend analysis by product and end-user analysis by geographical regions.

This report is a meticulous compilation of research on more than 50 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 30 leading companies, market participants, and vendors.

he report also profiles 16 key companies, including Medtronic, Plc, Johnson & Johnson, Stryker Corporation, Zimmer Biomet Holdings, Inc., NuVasive, Inc, Globus Medical Inc., RTI Surgical, Inc, SeaSpine Holdings Corporation, Spine Wave, Inc., Spinal Elements, Orthofix Medical, Inc., and B. Braun Melsungen AG.

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Key Topics Covered:

Executive Summary

1 Market Overview
1.1 Introduction of Human Spine
1.2 Spinal Disorders
1.3 Spinal Treatment Options
1.4 Spinal Fusion
1.5 Spinal Fusion Procedures
1.6 Spinal Fusion Devices
1.7 Complications of Spinal Fusion Procedure
1.8 Global Market Scenario
1.9 Assumptions and Limitations

2 Market Dynamics
2.1 Overview
2.2 Impact Analysis
2.3 Market Drivers
2.3.1 Increasing Prevalence of Spinal Disorders
2.3.2 Surge in Number of Spinal Fusion Surgeries
2.3.3 Growing Geriatric Population
2.3.4 Increasing Acceptance of Minimally Invasive Spinal Surgeries
2.3.5 Increasing Rate of Obesity
2.3.6 Increase in Road Accidents, Sports Injuries, and Falls Causing Spinal Disorders
2.3.7 Increasing Medical Tourism Promotes Spinal Surgery
2.4 Market Restraints
2.4.1 Increased Regulatory Scrutiny
2.4.2 Complications and Risks Associated with Spinal Fusion Surgery
2.4.3 Product Recalls
2.4.4 High Initial Cost and Cost of Procedure
2.5 Market Opportunities
2.5.1 Emerging Market Driving the Demand for Spinal Fusion Devices
2.5.2 Technological Advancements in Spinal Surgeries and Implants
2.5.3 Growing Number of Hospitals and Ambulatory Surgical Centers
2.5.4 Continuous Launch of New Products

3 Competitive Landscape
3.1 Key Developments and Strategies
3.1.1 Product Launches, Approvals and Clearances
3.1.2 Agreements, Collaborations, and Partnerships
3.1.3 Mergers and Acquisitions
3.1.4 Expansion and Divestitures
3.2 Market Share Analysis
3.3 Vendor Analysis
3.4 Industry Attractiveness

4 Industry Insights
4.1 Patent Analysis
4.2 Regulatory Framework
4.2.1 Regulatory Framework in the U.S.
4.2.2 Regulatory Framework in Europe
4.2.3 Regulatory Framework in Asia-Pacific
4.2.3.1 Japan
4.2.3.2 China

5 Global Spinal Fusion Devices Market (by Product)
5.1 Introduction
5.2 Growth Share Analysis
5.3 Screws
5.4 Plates
5.5 Cages
5.6 Pin and Wire
5.7 Rods and Stem
5.8 Hook
5.9 Spacers

6 Global Spinal Fusion Devices Market (by End User)
6.1 Introduction
6.2 Hospital
6.3 Specialty Clinics and Ambulatory Surgical Center
6.4 Others

7 Global Spinal Fusion Devices Market (by Region)

8 Company Profiles

  • Alphatec Holdings, Inc
  • B. Braun Melsungen AG
  • Captiva Spine, Inc.
  • Globus Medical, Inc.
  • Johnson & Johnson
  • Medtronic, Plc.
  • NuVasive, Inc.
  • Orthofix Medical, Inc.
  • RTI Surgical, Inc.
  • SeaSpine Holdings Corporation
  • Spinal Elements
  • Spine Wave, Inc.
  • Stryker Corporation
  • Xtant Medical Holdings, Inc.
  • Zimmer Biomet Holdings Inc.

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