Spinal Fusion Devices Market Size to Reach USD 9.21 Billion in 2028 Growing at a CAGR of 3.5%

Emergen Research has published its latest report titled “Spinal Fusion Devices Market, By Product Type (Cervical Fixation Devices, Thoracolumbar Devices), By Surgery Type (Minimally Invasive Spine Surgery, Open Spine Surgery), By End-use (Hospitals & Ambulatory Surgery Centers, Specialty Clinics, Others), and By Region, Forecast to 2028”

According to Emergen Research, the global spinal fusion devices market size was USD 7.12 billion in 2020 and is expected to reach USD 9.21 billion in 2028 and register a revenue CAGR of 3.5% during the forecast period, 2021-2028.

Market Dynamics:

Steady revenue growth of the global spinal fusion devices market is attributed to factors such as rise in geriatric population around the world, rising prevalence of spinal disorders, continuous advancements in spine fusion devices and surgical techniques, and increasing preference for minimally invasive spine surgeries. Increasing incidences of spinal degeneration or deformities, rising cases of road accidents and fatal falls, growing patient pool, and increasing volumes of surgical procedures in hospitals and ambulatory surgical centers are among the other factors expected to drive the global market revenue growth over the forecast period.

Spinal fusion refers to the surgical procedure that involves permanent joining of two or more bones in the vertebrae that form the spinal column. The surgery is performed to treat various spinal disorders such as degenerative disc disease, herniated discs, spinal stenosis, and spine tumors. The global spinal fusion devices market revenue growth, however, is restrained to a significant extent due to factors such as high costs of spinal fusion surgical devices and various complications associated with the procedure such as bleeding, formation of blood clots, infection, poor wound healing, blood vessel injury, and acute pain.

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COVID-19 Impact Analysis:

  • Social distancing and restrictions severely disrupted businesses and operations
  • Lockdowns caused disruptions in transportation and logistics
  • Impacted manufacturing activities and mining operations globally
  • Took a toll on economy of various countries
  • Caused sudden and drastic downturn in economic activity
  • Disrupted agriculture, fisheries, dairy, and other sectors
  • Caused loss of employment and financial crisis
  • Supply impacts were further compounded owing to reduced disposable income
  • Emergence of variants  continue to cause concerns and impact normal routines

Minimally Invasive Spine Surgery Accounted for Largest Revenue Share in 2020:

Based on surgery type, the global spinal fusion devices market is segmented into minimally invasive spine surgery and open spine surgery. The minimally invasive spine surgery segment held the largest revenue share in the global market in 2020, owing to factors such as growing preference for minimally invasive spine surgical procedures due to many advantages over open surgeries, such as shorter hospital stay, lesser pain and discomfort, less damage to muscle and soft tissue, reduced post-operative pain, lower risks of infection, and faster patient recovery and healing.

Hospitals & Ambulatory Surgery Centers Segment to Account for Fastest Revenue CAGR:

Based on end-use, the global spinal fusion devices market is segmented into hospitals & ambulatory surgery centers, specialty clinics, and others. The hospitals & ambulatory surgery centers segment is expected to register the fastest revenue growth rate in the global market over the forecast period.  Rapid adoption of advanced surgical techniques for spinal disorders in hospitals and ambulatory surgery centers, growing availability of skilled spine surgeons, increasing use of surgical robots in spine fusion surgical procedures, and favorable health insurance policies for spinal treatments are key factors boosting revenue growth of this segment.

North America Accounted for Largest Revenue Share in 2020:

Among regional markets, the North America spinal fusion devices market accounted for the largest revenue share in the global market in 2020. Increasing prevalence of spinal disorders, unhealthy lifestyles and rising incidences of lifestyle-induced disorders, growing need for advanced spine treatment and care, and availability of technologically advanced healthcare infrastructure and skilled surgeons in the region are among the major drivers for the North America market revenue growth.

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Major Companies in the Global Spinal Fusion Devices Market Include:

  • Braun Melsungen
  • Alphatec Holdings, Inc.
  • Exactech, Inc.
  • DePuy Synthes Companies (Johnson & Johnson Inc.)
  • Medtronic Plc
  • Globus Medical, Inc.
  • NuVasive, Inc.
  • Stryker Corporation
  • Orthofix International N.V.
  • Zimmer Biomet Holdings, Inc.

For the purpose of this report, Emergen Research has segmented the global spinal fusion devices market based on product type, surgery type, end-use, and region:

Product Type Outlook (Revenue, USD Billion; 2018-2028)

  • Cervical Fixation Devices
  • Thoracolumbar Devices
  • Interbody Fusion Devices
  • Biologics

Surgery Type Outlook (Revenue, USD Billion; 2018-2028))

  • Minimally Invasive Spine Surgery
  • Open Spine Surgery

End-use Outlook (Revenue, USD Billion; 2018-2028))

  • Hospitals & Ambulatory Surgery Centers
  • Specialty Clinics
  • Others

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Region Outlook (Revenue, USD Billion; 2018–2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • South Africa
    • Turkey
    • Rest of Middle East & Africa

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