Published: Jun, 2018
The global spinal fusion devices market is foretold to witness the dominance of a few well-established players, notes a new market study by Transparency Market Research (TMR). Key players in the market give cut-throat competition to each other in order to boost sales and expand their customer base. To sustain in this intensely competitive market, key players have been quintessentially been involved in introducing new products and advancement of existing products.
Some of the leading companies in the global spinal fusion devices market are Zimmer Biomet Holdings Inc., Alphatec Holdings Inc., Stryker Corporation, Globus Medical Inc., Titan Spine LLC Medtronic plc, B. Braun Melsungen AG, Exactech Inc., K2M Group Holdings Inc., NuVasive Inc., and Depuy Synthes.
TMR forecasts the global market for spinal fusion devices to rise at a steady 4.6% CAGR over the forecast period extending from 2017 to 2025. At this pace, the market would be worth US$10,965.7 mn by the end of 2025. Among the key segments based on product type, thoraco-lumbar fixation devices held supremacy in 2016; the segment is anticipated to continue to remain at the fore over the forecast period. By region, North America held the maximum share in 2016 vis-à-vis revenue, and is predicted to maintain its lead position over the forecast period. The growth of the region is mainly because of presence of an ultra-modern healthcare infrastructure. Furthermore, advanced products introduced consistently coupled with high awareness among individuals is contributing to this regional market’s growth.
Product Innovation to Fuel Market Growth
The high incidence of back pain has raised concerns in the medical fraternity to find effective cure for it. This has led to increasing demand for spinal fusion devices and have brought them in the spotlight of attention for spinal disorders. The incidence of spinal disorders is on the rise due to growing geriatric population globally. This has created substantial demand for spinal fusion devices.
The sedentary lifestyle of individuals nowadays is also related to several diseases, among which spinal dysfunctions is common. As people become lethargic in everyday life, spine disorders are bound to crop up. Hence, lifestyle changes have also played a key role in the demand for spinal fusion devices market.
Quick Adoption of Novel Devices Favors Market
Furthermore, patients with back pain for prolonged time period are quick to adopt any new treatment device that is commercially available. Hence, research and development pursuits to introduce improved spinal fusion devices is likely to contribute significantly to this market. The key players in the market have undertaken a host of activities to introduce technologically advanced products thereby leading market demand to soar high. With the launch of novel plating systems that provide better structural integrity and stability, the market is foreseen to gain impetus in the forthcoming years. Moreover, the advent of newer screw systems and locking mechanisms manufactured from modern materials such as titanium alloy will further propel the spinal fusion devices market.
The review presented here is based on the findings of a TMR report, titled “Spinal Fusion Devices Market (Product Type - Thoraco-Lumbar Fixation Devices (Lumbar Plates, Rods, Hooks, and Pedicle Screws), Cervical Fixation Devices (Anterior Cervical Plates, Screws, and Hook Fixation Systems), and Interbody Fusion Devices (Non-bone fusion Devices and Bone Fusion Devices); Surgery - Open Surgery and Minimally-invasive Surgery; End-User - Hospitals, Ambulatory Surgical Centers, and Clinics and Orthopedic Centers) - Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2017 – 2025.”
The global spinal fusion devices market is segmented as follows;
Spinal Fusion Devices Market, by Product Type
- Thoraco-lumbar Fixation Devices
- Lumbar Plates
- Pedicle Screws
- Cervical Fixation Devices
- Anterior Cervical Plates
- Hook Fixation Systems
- Interbody Fusion Devices
- Non-bone Fusion Devices
- Bone Fusion Devices
Spinal Fusion Devices Market, by Surgery
- Open Surgery
- Minimally-invasive Surgery
Spinal Fusion Devices Market, by End-user
- Ambulatory Surgical Centers
- Clinics & Orthopedic Centers
Spinal fusion Devices Market, by Region
- North America
- Rest of Europe
- Latin America
- Rest of Latin America
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.”
Transparency Market Research
90 State Street,
Albany NY - 12207