The latest market report published by Credence Research, Inc. “Spinal Fusion Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the Spinal Fusion Market was valued at US$ 6,554.2 Mn in 2018 and expected to reach US$ 10,927.9 Mn by 2027 at a CAGR of 5.8% during the forecast period from 2019 to 2027.
The global spinal fusion market is developing productively from 2019 to 2027 accredited to the rise in open and minimally invasive procedures along with enhanced technology expansion worldwide in the field of spinal surgery. The U.S. contributed maximum revenue share in 2018. The market players in the U.S. continue to focus on research & development activities to innovate new applications along with advanced technology. Increasing geriatric population with spinal related disorders (spondylosis, degenerative scoliosis, deformity of the spine, spinal instability) and prevalence for spinal cord injuries will drive the market growth on a global scale. Worldwide, in between 250 000 and 500 000 people suffer a spinal cord injury every year. Increasing adoption of new products (plating systems, screws, rods, cages) in orthopedic clinics and hospitals will drive the demand.
Top manufacturers are mainly focusing on new technology expansion in developing nations. Innovations in the minimally invasive techniques along with increased awareness will further spur revenue growth during the forecast period. For e.g. in June 27, 2017, DePuy Synthes Products, Inc. announced the acquisition of Sentio, LLC to enable innovation in minimally invasive spine surgery. On September 12, 2018, Johnson & Johnson Medical Devices Companies acquired Emerging Implant Technologies GmbH (manufacturer of 3D-printed titanium implants) to further expand its offering internationally. The domestic and local organizations have easy entree to this market, which makes it the biggest and most critical market for suppliers & providers. The increasing number of hospitals and orthopedic clinics segment expected to register the highest CAGR during the forecast period. Rising spinal surgical procedures in developed nations, adoption of new fusion devices, utilization of 3D printing technology, new product launches, and enhanced reimbursement structure will drive the market growth during the forecast period.
Key Market Movements:
- Globally, the spinal fusion is growing at a CAGR of 5.8% for the period from 2019 to 2027
- North America dominated the global market in 2018 on account of sophisticated number of open surgeries, key manufacturers have concentrated on the practice of partnerships & collaborations, adoption of new techniques and launch of spinal fusion devices
- The Asia Pacific is projected to register the maximum growth rate during the forecast period due to the increasing elderly and obese population, increased medical expenditure along with the significant prevalence & incidence of spinal cord injuries
- An increasing number of acquisitions, new product expansion, and increased health expenditure in the developing nations will drive the overall demand
- Major players in this vertical are Zimmer Biomet, Johnson & Johnson Services, Inc., Stryker, Orthofix Holdings, Inc., B. Braun Melsungen AG, RTI Surgical Holdings, Inc., Life Spine, Inc., MicroPort Scientific Corporation, Integra LifeSciences, NuVasive, Inc., RTI Surgical Holdings, Inc., Exactech Inc., K2M Group Holdings Inc., Titan Spine LLC and others.
Browse full report at https://www.credenceresearch.com/report/spinal-fusion-market
The Global Spinal Fusion Market is Segmented into:
|Segmentation||By Product Type (2017–2027; US$ Mn)|
|By Procedure Type (2017–2027; US$ Mn)|
|By End-User (2017–2027; US$ Mn)|
|By Geography (2017–2027; US$ Mn)|
*Complete segmentation list is on report page