Report ID :10086046 |
Published Date : 21 Oct 2022 |
Report Format : |
Delivery Timeline :48-72 Business Hours
"The global spinal fusion device market is estimated to be valued at ~USD 7 billion in 2021 and is expected to expand at a compound annual growth rate of ~4% during the forecast period 2022-2030. Spinal fusion devices are used to treat spinal deformities such as degenerative disc disease and spondylolisthesis. The market growth is driven by the increase in the elderly population and the increase in the incidence of spinal diseases. In addition, the expansion of indications for spinal fusion surgery is driving market growth. For example, initially spinal fusion was only used for scoliosis and spinal tuberculosis, but there are currently 14 situations that require spinal fusion. However, the unfavorable redemption of these devices and strict regulatory approval procedures are expected to limit market growth.
Spinal diseases such as spinal stenosis are the most common problems for men and women over the age of 50. The elderly are at high risk of spinal diseases, including those with comorbidities and/or weakened immunity. According to an article published in the Tohoku Journal of Experimental Medicine in February 2016, by the end of 2010, approximately 23.1% of the Japanese population was over 65 years old, and 11.4% were over 75 years old. It is estimated that you are over 65 years old. The rapid aging of the population has had an important impact on society, especially in the medical field. The same study showed that in 2012, about half of patients with lumbar spinal stenosis (ESL) and cervical spondylotic myelopathy were over 70 years old.
Due to the increase in the incidence of spinal diseases and the increase in medical costs, the market potential of spinal fusion devices in the Asia-Pacific region is great. In addition, compared with developed countries such as the United States, the rapidly aging population and lower cost of spinal surgery in countries such as India have further increased the demand for spinal implants. Spine surgery is performed in more than 2,000 hospitals in India, and complex and sophisticated operations such as microspine surgery are performed in at least 500 multi-faculty spine surgery hospitals and super-specialty hospitals.
Therefore, the aforementioned factors are expected to drive the demand for spinal fusion devices. According to the product type, the fusion cage is divided into thoracolumbar spine device, cervical fixation device and intervertebral fusion cage. Instruments used to fuse thoracic, lumbar, and cervical vertebrae include hooks, rods, and screws. On the other hand, interbody fusion is performed without the use of the device, but instead includes a device composed of bone or polyether ether ketone (PEEK). According to an article published in 2014 by the British Association of Bone and Joint Surgery Publishing, the rate of lumbar fusion and cervical fusion has increased rapidly, while the rate of thoracic fusion has decreased. It is obvious from the statistics that in 2011, lumbar fusion surgery accounted for about 52% of all spinal fusion surgery. Therefore, the increasing prevalence of diseases such as low back pain and stenosis supplements the growth of the spinal fusion device market.
AlphaTech Holdings, Inc. is a leading player in the spinal fusion device market. Braun Melsungen AG, Depuy Synthase (Johnson & Johnson), Exact, Inc., Globus Medical, Inc., Medtronic plc, Nuvasive, Inc. Orthofix International NV, Stryker and Zimmer Biomet Holdings, Inc. Other vendors include Paragon Medical, Inc. Norman Noble, Inc. Newtek, Titan Spine, Wenzel Spine, Inc. and X-Spine Systems, Inc. and Tecomet, Inc., Marox Corporation, Axial Medical, Spine Wave, Inc., K2M, Inc. and Captiva Spine, LLC.
The main advantages of the spinal fusion device market This study provides an in-depth analysis of the global spinal fusion device market, including current trends and future estimates, to clarify the upcoming investment pockets. It is expected that the quantitative analysis from 2022-2030 will enable all stakeholders to take advantage of current market opportunities. The report provides actual historical data from 2018 and year-on-year forecasts from 2022-2030. Comprehensive regional analysis to determine the main opportunities in these regions, product positioning and tracking of major competitors within the market framework.
THE MAIN MARKET SEGMENTS OF SPINAL FUSION DEVICES :
By-products Thoracic and lumbar spine devices Front lumbar vertebral plates Lumbar vertebral plates Pedicle screws Rod hooks Wires and cables"
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