Global Spinal Fusion Devices Market

Report ID : 1372 | Published : 2022-09-28 | Pages: | Format: PDF/EXCEL

The market size of the Global Spinal Fusion Devices Market is predicted to show an 6.22% CAGR during the forecast period.

Spinal fusion devices are employed to restore stability to the spinal structure that has been lost owing to a fracture, degenerative disorders of the spine, trauma, tumors, and deformity. Spinal cord injuries are most frequently caused by a restricted blood supply, infections, trauma, compression by a tumor, or a broken bone. The market is expanding due to the aging population and the increasing prevalence of spinal illnesses. Additionally, as more patients seek spinal fusion surgery, the market is predicted to grow. For instance, spinal fusion is now utilized to treat 14 additional illnesses in addition to spinal TB and scoliosis. Furthermore, using these implants and devices is one of the best and most effective ways to address spinal misalignments and degenerative changes. The market for spinal fusion devices is expanding due to several vital causes, including the trend toward less invasive spine surgeries, an increase in the prevalence of spinal diseases, and technological advancements in spine surgery.

However, it is anticipated that the expansion of the market will be constrained by unfavourable reimbursement scenarios and strict regulatory clearance procedures for these devices. With the US FDA's stringent regulations, product recalls are common and may affect the growth of this industry. The high cost of care restricts the potential development of the spinal fusion devices industry. With the operations' steadily rising prices, there has been a slowdown in the integration of spinal surgery technology; this has been a significant obstacle for both new market entrants and big hospitals.

Market Segmentation:

The spinal fusion devices market is differentiated on the basis of product and end-user. Based on product, the market is segmented as screws, plates, cages, pin and wire, rods and stem, hook, and spacers. Based on end-user, the market is differentiated into hospitals, speciality clinics, ambulatory surgical centres, and others.

Based on product, the screw segment is accounted as a significant contributor in the spinal fusion devices market.

Pedicle screw fixation is thought to be the stabilizing method utilized most frequently during spinal surgery. They aid in deformity correction and may be utilized to fasten rods and plates during the instrumentation process. Pedicle screws retain the bone structure firmly and assist in immobilizing the spine to enable fusion. Although they can also be implanted in the sacral vertebra and thoracic, they are frequently employed in the lumbar spine. The desire for minimally invasive and cost-effective techniques and the increased incidence of vertebral deformity and spinal cord injuries are predicted to propel the expansion of the screw segment during the projected period. In addition to offering therapeutic benefits, including quicker healing, less scarring, and less blood loss, this is anticipated to increase demand for pedicle screw fixation operations in the market throughout the projection period.

The hospital sector is expanding quickly.

Hospitals controlled the market for spinal fusion devices with a significant revenue share. One of the variables influencing the segment is the rise in hospital spinal procedures. The demand for high-quality healthcare services provided by hospitals is rising as a result of expanding government attempts to upgrade the healthcare infrastructure and an expanding middle-class population in developing countries like India, supporting sector growth. Additionally, there are now more options to provide quality healthcare at a reasonable cost, thanks to the growing demand for such services.

In the region, the North American spinal fusion devices market holds a significant revenue share.

North America to dominate the market in the forecast period and is anticipated to hold a dominant market position for spinal fusion devices globally for the projected period. The sharp increase in spinal fusion procedures in outpatient and ambulatory surgical settings, the quick adoption of spine navigation technologies, and surgical robots propels the market in North America. The United States holds the most significant market share in North America. The number of Americans suffering from lower back pain and other conditions associated with the spine is increasing year after year in the United States, which now dominates the market for spinal surgery devices.

With increased Spinal Cord Injury (SCI) instances in China and India, the Asia Pacific region is expected to grow at the quickest rate throughout the projection period. The technologically improved spine surgeries used in Japan have also aided rapid expansion. Regional development is also heavily fueled by rising vehicle accidents and the ageing population. The main drivers of the market are the growth of prominent manufacturers' distribution networks in developing countries, improvements in healthcare infrastructure, and a progressive trend toward less invasive spine options.

Competitive Landscape

The major firms in the spinal fusion devices market have shifted their focus towards bio-based components for product manufacturing and are initiating significant strategies such as mergers, acquisitions, and leveraging partnerships between domestic and international businesses to diversify their product offerings and expand their global market presence. Some of the major key players in the spinal fusion devices market are Alphatec Holdings, Inc, B. Braun Melsungen AG, Captiva Spine, Inc., Globus Medical, Inc., Johnson & Johnson, Medtronic, Plc., NuVasive, Inc., Orthofix Medical, Inc., RTI Surgical, Inc., Stryker Corporation, SeaSpine Holdings Corporation, Spinal Elements, Spine Wave, Inc., Spineology, Inc., Xtant Medical Holdings, Inc., and Zimmer Biomet Holdings Inc.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Spinal Fusion Devices Market Snapshot

Chapter 4. Global Spinal Fusion Devices Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Product Type Estimates & Trend Analysis

5.1. by Product Type & Market Share, 2019 & 2030

5.2. Market Size (Value (US$ Mn) & Volume (no. of units) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Product Type:

5.2.1. Screws

5.2.2. Plates

5.2.3. Cages

5.2.4. Pin and Wire

5.2.5. Rods and Stem

5.2.6. Hook

5.2.7. Spacers

Chapter 6. Market Segmentation 2: by End-users Estimates & Trend Analysis

6.1. by End-users & Market Share, 2019 & 2030

6.2. Market Size (Value (US$ Mn) & Volume (no. of units) & Forecasts and Trend Analyses, 2019 to 2030 for the following by End-users:

6.2.1. Hospital

6.2.2. Specialty Clinics and Ambulatory Surgical Center

Chapter 7. Spinal Fusion Devices Market Segmentation 3: Regional Estimates & Trend Analysis

7.1. North America

7.1.1. North America Spinal Fusion Devices Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2019-2030

7.1.2. North America Spinal Fusion Devices Market Revenue (US$ Million) Estimates and Forecasts by End-users, 2019-2030

7.1.3. North America Spinal Fusion Devices Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2030

7.2. Europe

7.2.1. Europe Spinal Fusion Devices Market revenue (US$ Million) by Product Type, 2019-2030

7.2.2. Europe Spinal Fusion Devices Market revenue (US$ Million) by End-users, 2019-2030

7.2.3. Europe Spinal Fusion Devices Market revenue (US$ Million) by country, 2019-2030

7.3. Asia Pacific

7.3.1. Asia Pacific Spinal Fusion Devices Market revenue (US$ Million) by Product Type, 2019-2030

7.3.2. Asia Pacific Spinal Fusion Devices Market revenue (US$ Million) by End-users, 2019-2030

7.3.3. Asia Pacific Spinal Fusion Devices Market revenue (US$ Million) by country, 2019-2030

7.4. Latin America

7.4.1. Latin America Spinal Fusion Devices Market revenue (US$ Million) by Product Type, 2019-2030

7.4.2. Latin America Spinal Fusion Devices Market revenue (US$ Million) by End-users, 2019-2030

7.4.3. Latin America Spinal Fusion Devices Market revenue (US$ Million) by country, 2019-2030

7.5. Middle East & Africa

7.5.1. Middle East & Africa Spinal Fusion Devices Market revenue (US$ Million) by Product Type, 2019-2030

7.5.2. Middle East & Africa Spinal Fusion Devices Market revenue (US$ Million) by End-users, 2019-2030

7.5.3. Middle East & Africa Spinal Fusion Devices Market revenue (US$ Million) by country, 2019-2030

Chapter 8. Competitive Landscape

8.1. Major Mergers and Acquisitions/Strategic Alliances

8.2. Company Profiles

8.2.1. Alphatec Holdings, Inc

8.2.2. B. Braun Melsungen AG

8.2.3. Captiva Spine, Inc.

8.2.4. Globus Medical, Inc.

8.2.5. Johnson & Johnson

8.2.6. Medtronic, Plc.

8.2.7. NuVasive, Inc.

8.2.8. Orthofix Medical, Inc.

8.2.9. RTI Surgical, Inc.

8.2.10. Stryker Corporation

8.2.11. SeaSpine Holdings Corporation

8.2.12. Spinal Elements

8.2.13. Spine Wave, Inc.

8.2.14. Spineology, Inc.

8.2.15. Xtant Medical Holdings, Inc.

8.2.16. Zimmer Biomet Holdings Inc.

8.2.17. Other Prominent Players

By Product

  • Screws
  • Plates
  • Cages
  • Pin and Wire
  • Rods and Stem
  • Hook
  • Spacers

By End User

  • Hospital
  • Specialty Clinics and Ambulatory Surgical Center

By Region-

  • North America-
  • US
  • Canada
  • Mexico
  • Europe-
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific-
  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific
  • Latin America-
  • Brazil
  • Argentina
  • Rest of Latin America
  • Middle East & Africa-
  • GCC Countries
  • South Africa
  • Rest of the Middle East and Africa
  • Others

 

 

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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