Spinal fusion surgery is done in case of degenerative disk disease, fracture, scoliosis, spinal stenosis, spondylolisthesis or spinal infection. Spinal fusion helps to improve stability, correct a deformity, and reduce back pain.
The first five-year cumulative revenue (2018–2022) is projected to be more than US$ 40 Bn, which is expected to increase rather moderately over the latter part of the five-year forecast period. The global spinal fusion devices market is expected to value at nearly US$ 8.5 Bn in 2019 and is expected to register a CAGR of 5.1%.
Increasing incidence of degenerative spine disease/low back pain across the globe, coupled with the availability of advanced technologies for successful spinal surgeries is one among the major factors expected to boost growth of the global spinal fusion devices market.
Moreover, increasing adoption of advanced surgical devices in hospitals and clinics in both developed and developing countries is expected to augment the growth of the global spinal fusion devices market over the forecast period.
Global Spinal Fusion Devices Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global spinal fusion devices market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global spinal fusion devices market is expected to register a CAGR of 5.1% over the forecast period.
Global Spinal Fusion Devices Market: Segmental Snapshot
The market report has been segmented on the basis of product type, surgery, end user, and region. The product type segment includes thoraco-lumbar fixation devices, cervical fixation devices anterior, and interbody fusion devices. The surgery segment includes open surgery and minimally-invasive surgery. The end user segment includes hospitals, ambulatory surgical centers, and clinics & orthopedic centers. The region includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By Product Type: The thoraco-lumbar fixation devices segment is expected to register CAGR of over 5.0% over the forecast period in the global market.
By Surgery: The open surgery segment is expected to register highest CAGR of over 4.8% over the forecast period in the global market.
By End User: The hospital segment is expected to register highest CAGR of over 4.9% over the next 10 years in the global market.
By Region: The market in North America is expected to register the highest CAGR of over 4.6% during the forecast period in the global market.
The research report on the global spinal fusion devices market includes profiles of some of the major companies such as Zimmer Biomet Holdings, Inc., Stryker Corporation, Exactech, Inc., Globus Medical, Inc., Wenzel Spine, Inc., NuVasive, Inc., Medtronic plc, Orthofix International N.V., Johnson & Johnson, and B. Braun Melsungen AG.