Spinal Fusion Devices Market By Type (Thoracolumbar Devices, Cervical Fixation Devices, Interbody Fusion Devices), By Surgery (Minimally Invasive Spine Surgery, Open Spine Surgery), By End User (Hospitals, Specialty Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030
Spine-related disorders and deformities are treated using spinal fusion devices. Disorders such as spinal stenosis and lumbar degenerative spondylolisthesis are caused due to degeneration of the intervertebral disc, deformity, tumors, and trauma. Implant systems utilizing specially designed spinal instrumentation are often used in spinal fusion surgical procedures, such as plates, rods, and screws, which facilitate fusion, correct deformities, and stabilize and strengthen the spine. Most spinal fusion implants are made of metals such as titanium and are available in different shapes and sizes to treat patients of all ages.
This market is expected to witness significant growth during the forecast period, owing rise in geriatric population, advent of minimal invasive surgical treatment options, and rise in incidents of spinal disorders. In addition, advancements in spine surgeries and new product launches further fuel the market. However, stringent regulatory approval procedures, present pandemic situation, and unfavorable reimbursement scenario are expected to hamper growth of the spinal implant and devices market. Moreover, emerging markets are expected to drive demand for spinal implants and devices and advancements in augmented and virtual reality, endoscopic surgery, and 3D printed implants for minimally invasive surgery are also expected to fuel the market growth.
Major player such as Nuvasove, and others are engaged in offering new spinal fusion devices to the market. NuVasive acquired Simplify Medical Pty Limited, a developer of cervical artificial disc technology for cervical total disc replacement procedures. This aims in improving the product portfolio of the company. Such instances are expected to provide lucrative opportunities for major players for growth of the market.
The spinal fusion devices market is segmented on the basis of product, surgery, end user, and region. On the basis of product, the market is classified into thoracolumbar devices, cervical fusion devices, and interbody fusion devices. The thoracolumbar devices segment dominated the market in 2020.
On the basis of surgery, the market is categorized into open spine surgery and minimally invasive spine surgery. The minimally invasive spine surgery segment dominated the global spinal fusion devices market in 2020.
On the bases of end user, the market is divided into hospitals, specialty clinics, and others. The hospitals segment dominated the market in 2020.
On the basis of region, the spinal fusion devices market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America was the highest revenue growth, followed by Europe. LAMEA is predicted to grow faster than Asia-Pacific with a CAGR of 8.2% during the forecast period. The North America region is expected to dominate the spinal fusion devices market.
The key players profiled in the market report include such as Alphatec Holdings, Inc., B. Braun Melsungen AG, Depuy Synthes (Johnson & Johnson), Exactech, Inc., Globus Medical, Inc., Medtronic Plc., NuVasive, Inc., Orthofix International N.V., Stryker Corporation, and Zimmer Biomet Holdings, Inc.
Major players are adopting product launch and acquisition as key developmental strategies to improve the product portfolio. For instance, in August 2019, Alphatec launched InVictus Minimally Invasive or MIS, SingleStep K-wireless implant delivery system. It eliminates the requirement of K-wires in percutaneous pedicle fixation procedures and reduces potential complications that can occur with inadvertent K-wire advancement in traditional minimally invasive pedicle screw placement technique. This improves product portfolio of the company.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the spinal fusion devices market analysis from 2020 to 2030 to identify the prevailing spinal fusion devices industry opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Spinal fusion devices market opportunity are reported from 2020 to 2030.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the spinal fusion devices market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global spinal fusion devices market trends, key players, market segments, spinal fusion devices market size, application areas, and market growth strategies.
Key Market Segments
By Type
Cervical Fixation Devices
Interbody Fusion Devices
Thoracolumbar Devices
By Surgery
Minimally Invasive Spine Surgery
Open Spine Surgery
By End User
Hospitals
Specialty Clinics
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
Italy
France
Spain
Rest of Europe
Asia-Pacific
Rest Of Asia Pacific
China
Japan
India
South Korea
LAMEA
Rest of Latin America
Middle East
Africa
Key Market Players
Zimmer Biomet Holdings, Inc.
Alphatec Holdings Inc
B. Braun Melsungen AG
Exactech Inc
Globus Medical Inc
Johnson & Johnson
Medtronic Plc
Nuvasive Inc
Orthofix International N.V.
Stryker Corporation
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook