Rising prevalence of spinal disorders, advances in spine surgery, and shift towards minimally invasive spinal procedures are driving the growth of the global spinal fusion devices market.
Portland, ore.And 25 April 2022 /PRNewswire/ – Allied Market Research has published a report titled, “Spinal fusion devices market By Type (Thoracolumbar Devices, Cervical Fixation Devices, Bibody Fusion Devices), By Surgery (Invasive Spine Surgery, Open Spine Surgery), By End User (Hospitals, Specialty Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030 . ” According to the report, the global Spinal fusion devices industry . has been established 7.03 billion dollars In 2020, it is expected to reach $11.43 billion By 2030, it should see a compound annual growth rate of 4.6% from 2021 to 2030.
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Drivers, limitations and opportunities
Rising prevalence of spinal disorders, advances in spine surgery, and shift towards minimally invasive spinal procedures are driving the growth of the global spinal fusion devices market. However, unfavorable repayment scenarios and strict regulatory approval procedures are restricting the growth of the market. On the other hand, advances in augmented and virtual reality, laparoscopic surgery, and 3D implants are creating new opportunities in the coming years.
Due to supply chain disruptions and prolonged lockdowns in many countries, manufacturing and sales of spinal fusion devices have been significantly affected.
Several hospitals have announced postponing or canceling elective surgeries, including various orthopedic and spine surgeries, as practitioners and surgeons have been involved in treating the growing number of patients with Covid-19. Demand is expected to recover after the closing.
The thoracolumbar devices sector to maintain its leading position during the forecast period
Based on product type, the thoracolumbar devices segment captured the highest market share in 2020, contributing to more than two-fifths of the global spinal fusion devices market, and is expected to maintain its leadership position during the forecast period. This is due to the increased use of surgeons to decompress and stabilize the chest and lower back and use it within the spaces between the two bodies or on the spine to facilitate stability. However, the segment of body fusion devices is expected to appear Highest compound annual growth rate of 7.2% From 2021 to 2030, due to use in disc space, enabling spinal fusion with less post-operative discomfort.
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Minimally invasive spine surgery segment to maintain its leading position during the forecast period
Based on surgery, the minimally invasive spine surgery division captured the largest market share in 2020, contributing to more than half of the global spinal fusion devices market, and is expected to maintain its leading position during the forecast period. Moreover, this segment is estimated to register the largest compound annual growth rate of 6.5% from 2021 to 2030, due to the adoption of simple spinal procedures such as decompression, spinal fusion and reducing the cost of surgery and hospitalization. The report also analyzes the open spine surgery segment.
North Amarica To maintain its dominance in terms of revenue by 2030
based on the area, North Amarica It contributed the highest market share in terms of revenue in 2020, accounting for more than two-fifths of the global spinal fusion devices market, and is expected to maintain its dominance in terms of revenue by 2030. This is due to the high incidence of low back pain and spinal injuries in the region. However, LAMEA is expected to depict the fastest compound annual growth rate of 7.3% during the forecast period, due to increased awareness among patients regarding minor surgical procedures.
Leading market players
Zimmer Biomet Holdings, Inc.
Alphatec Holdings Inc
B. Braun Melsungen AG
Globus Medical Company
Johnson & Johnson
Orthofix International NV
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“We have also published a few common market studies in the same field that may interest you. Below is the title of the report for your reference., considering the impact of Covid-19 on this market which will help you to assess the after effects of the pandemic on the short term and long term growth trends of this market. “
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