Spinal Fusion Market, Size, Share, Global Forecast 2022-2027, Industry Trends, Growth, Outlook, Impact of COVID-19, Company Analysis
Description
Spinal Fusion Market, Size, Share, Global Forecast 2022-2027, Industry Trends, Growth, Outlook, Impact of COVID-19, Company Analysis
Global Spinal Fusion Device Market is projected to reach US$ 9.93 Billion by 2027. The incidence of spinal cord injuries has grown significantly in the last couple of years. According to the World Health Organization (WHO), every year, around the world, between 250,000 and 500,000 people suffer an (SCI) spinal cord injury, which raises the demand for spinal fusion devices worldwide. Spinal fusion devices are utilized to provide stability to the spinal structure, which has lost stability due to degenerative disorders, fracture of the spine, trauma, tumors, and deformity. Besides, spinal fusion devices have innovative locking screw systems and mechanisms which can have self-tapping functions and self-drilling. They are made from modern manufacturing material such as titanium alloy and single and double holes per vertebrae through which the screw fixation is done.
The primary factors attributing to the global spinal surgery market's growth are:
• Advances in spinal surgery tools.
• Growing geriatric and obese population with spinal deformities.
• Increasing demand for non-invasive spinal surgery procedures elements driving the market's growth.
Apart from this, increased research on biologics, especially Bone Morphogenetic Proteins (BMPs), is expected to favor the adoption of spinal fusion implants. According to Renub Research report, Global Spinal Fusion Device Market Size was US$ 7.48 Billion in 2021.
Thoracolumbar Device holds the Biggest Market Share
The global spinal fusion device market includes Cervical Device, Thoracolumbar Device, Interbody Device, and Biologics on the ground of product type. Thoracolumbar devices hold the largest market share owing to the increasing incidence of spinal disorders such as degenerative disc disease, complex deformity, traumas & fractures, and others. In these cases, surgery is the only cure option.
Moreover, fractures in the thoracolumbar area can be essential for surgical intervention. This contribution is mainly because of the number of thoracolumbar disorders and technological advancements. Bone insufficiency is caused for reason of underlying settings such as osteoporosis and tumors that eventually weaken the bone and cause fractures.
The spinal fusion device market is segmented into minimally invasive surgeries, open surgeries, and Breath based on surgery. Open surgery is a significant market; this segment can be attributed to the increasing preference for open spine surgeries among medical professionals, rising incidence of spinal deformities, and technological advancements in spinal fusion devices.
Worldwide Spinal Fusion Device Industry will grow with a CAGR of 4.8% during 2021 to 2027
On the basis of the end-user, the spinal fusion device market is classified into Hospitals, Specialty Clinics, and Ambulatory Surgical. The hospitals & specialty clinics segment is to witness remarkable growth due to the rapid adoption of advanced spine surgery products and the gradual rise in robotic spine surgery. Also, the popularity of specialty clinics has been increasing over the years. With the demand for improved access to care, numerous types of specialty clinics have come to market over the last two decades. Specialty clinics would specifically help bridge the gap between the demand and supply of healthcare services and facilities by providing superior care.
North America is a significant Spinal Fusion Device Market
Regionally, North American is the significant spinal fusion device market, owing to increased spinal disorders. By (NCHS) National Center for Health Statistics, more than 65 Million Americans suffer from lower back problems every year. With evolving lifestyle and food consumption methods in the region, such figures will increase further. The degenerative spinal disorders are also to grow, along with a likely increase in spinal problems in obese populations due to increased obesity, further boosting the spinal fusion device market growth. Moreover, the Asia Pacific spinal fusion devices market is to significantly growing due to the rising awareness, improving healthcare infrastructure, enhancing reimbursement scenario, and the growing insurance coverage in several APAC countries.
COVID-19 Impact Analysis:
The effect of the COVID-19 pandemic has been witnessed in about every industry. Like other healthcare industries, the market for spinal fusion devices has also been entirely affected. The COVID-19 outbreak situation across countries has shown some challenges on the spinal fusion devices owed to hold on orthopedic services by the hospitals and clinics. The immense pressure on the hospitals in providing services to COVID-19 patients is also one of the factors, which has been inhibiting the clinics and hospitals in delivering spine fusion services.
Key Market Players:
The prominent companies in the global spinal fusion devices industry are Alphatec Holdings, Inc., B. Braun Group, Johnson & Johnson, Globus Medical, Medtronic, NuVasive, Orthofix Medical Inc, Stryker, Zimmer Biomet Holdings.
Renub Research latest report “Global Spinal Fusion Device Market by product type (Cervical Device, Thoracolumbar Device, Interbody Device an Biologics), Surgery Type (Open Surgery, Minimally Invasive), Disease Indicator Type (Degenerative Disc Disease, Complex Deformity, Traumas & Fractures and Other), End-Users (Hospitals, Specialty Clinics and Ambulatory Surgical), Regions (North America, Europe, Asia-Pacific, Latin America and MEA), Company Analysis (Alphatec Holdings, Inc., B. Braun Group, Johnson & Johnson, Globus Medical, Medtronic, NuVasive, Orthofix Medical Inc, Stryker, Zimmer Biomet Holdings)” provides a detailed analysis of Global Spinal Fusion Device Industry.
Product Type – Market Breakup has been covered from 4 viewpoints
1. Cervical Device
2. Thoracolumbar Device
3. Interbody Device
4. Biologics
Surgery Type – Market Breakup has been covered from 2 viewpoints
1. Open Surgery
2. Minimally Invasive
Disease Indicator – Market Breakup has been covered from 4 viewpoints
1. Degenerative Disc Disease
2. Complex Deformity
3. Traumas & Fractures
4. Other
End Users – Market Breakup has been covered from 3 viewpoints
1. Hospitals
2. Specialty Clinics
3. Ambulatory Surgical
Regions – Market Breakup has been covered from 5 viewpoints
1. North America
2. Europe
3. Asia-Pacific
4. Latin America
5. Middle East Africa
Company Insights:
• Overviews
• Strategic Initiatives
• Financial Performance
Company Analysis:
1. Alphatec Holdings
2. Inc., B. Braun Group
3. Johnson & Johnson
4. Globus Medical
5. Medtronic
6. NuVasive
7. Orthofix Medical Inc
8. Stryker
9. Zimmer Biomet Holdings
Global Spinal Fusion Device Market is projected to reach US$ 9.93 Billion by 2027. The incidence of spinal cord injuries has grown significantly in the last couple of years. According to the World Health Organization (WHO), every year, around the world, between 250,000 and 500,000 people suffer an (SCI) spinal cord injury, which raises the demand for spinal fusion devices worldwide. Spinal fusion devices are utilized to provide stability to the spinal structure, which has lost stability due to degenerative disorders, fracture of the spine, trauma, tumors, and deformity. Besides, spinal fusion devices have innovative locking screw systems and mechanisms which can have self-tapping functions and self-drilling. They are made from modern manufacturing material such as titanium alloy and single and double holes per vertebrae through which the screw fixation is done.
The primary factors attributing to the global spinal surgery market's growth are:
• Advances in spinal surgery tools.
• Growing geriatric and obese population with spinal deformities.
• Increasing demand for non-invasive spinal surgery procedures elements driving the market's growth.
Apart from this, increased research on biologics, especially Bone Morphogenetic Proteins (BMPs), is expected to favor the adoption of spinal fusion implants. According to Renub Research report, Global Spinal Fusion Device Market Size was US$ 7.48 Billion in 2021.
Thoracolumbar Device holds the Biggest Market Share
The global spinal fusion device market includes Cervical Device, Thoracolumbar Device, Interbody Device, and Biologics on the ground of product type. Thoracolumbar devices hold the largest market share owing to the increasing incidence of spinal disorders such as degenerative disc disease, complex deformity, traumas & fractures, and others. In these cases, surgery is the only cure option.
Moreover, fractures in the thoracolumbar area can be essential for surgical intervention. This contribution is mainly because of the number of thoracolumbar disorders and technological advancements. Bone insufficiency is caused for reason of underlying settings such as osteoporosis and tumors that eventually weaken the bone and cause fractures.
The spinal fusion device market is segmented into minimally invasive surgeries, open surgeries, and Breath based on surgery. Open surgery is a significant market; this segment can be attributed to the increasing preference for open spine surgeries among medical professionals, rising incidence of spinal deformities, and technological advancements in spinal fusion devices.
Worldwide Spinal Fusion Device Industry will grow with a CAGR of 4.8% during 2021 to 2027
On the basis of the end-user, the spinal fusion device market is classified into Hospitals, Specialty Clinics, and Ambulatory Surgical. The hospitals & specialty clinics segment is to witness remarkable growth due to the rapid adoption of advanced spine surgery products and the gradual rise in robotic spine surgery. Also, the popularity of specialty clinics has been increasing over the years. With the demand for improved access to care, numerous types of specialty clinics have come to market over the last two decades. Specialty clinics would specifically help bridge the gap between the demand and supply of healthcare services and facilities by providing superior care.
North America is a significant Spinal Fusion Device Market
Regionally, North American is the significant spinal fusion device market, owing to increased spinal disorders. By (NCHS) National Center for Health Statistics, more than 65 Million Americans suffer from lower back problems every year. With evolving lifestyle and food consumption methods in the region, such figures will increase further. The degenerative spinal disorders are also to grow, along with a likely increase in spinal problems in obese populations due to increased obesity, further boosting the spinal fusion device market growth. Moreover, the Asia Pacific spinal fusion devices market is to significantly growing due to the rising awareness, improving healthcare infrastructure, enhancing reimbursement scenario, and the growing insurance coverage in several APAC countries.
COVID-19 Impact Analysis:
The effect of the COVID-19 pandemic has been witnessed in about every industry. Like other healthcare industries, the market for spinal fusion devices has also been entirely affected. The COVID-19 outbreak situation across countries has shown some challenges on the spinal fusion devices owed to hold on orthopedic services by the hospitals and clinics. The immense pressure on the hospitals in providing services to COVID-19 patients is also one of the factors, which has been inhibiting the clinics and hospitals in delivering spine fusion services.
Key Market Players:
The prominent companies in the global spinal fusion devices industry are Alphatec Holdings, Inc., B. Braun Group, Johnson & Johnson, Globus Medical, Medtronic, NuVasive, Orthofix Medical Inc, Stryker, Zimmer Biomet Holdings.
Renub Research latest report “Global Spinal Fusion Device Market by product type (Cervical Device, Thoracolumbar Device, Interbody Device an Biologics), Surgery Type (Open Surgery, Minimally Invasive), Disease Indicator Type (Degenerative Disc Disease, Complex Deformity, Traumas & Fractures and Other), End-Users (Hospitals, Specialty Clinics and Ambulatory Surgical), Regions (North America, Europe, Asia-Pacific, Latin America and MEA), Company Analysis (Alphatec Holdings, Inc., B. Braun Group, Johnson & Johnson, Globus Medical, Medtronic, NuVasive, Orthofix Medical Inc, Stryker, Zimmer Biomet Holdings)” provides a detailed analysis of Global Spinal Fusion Device Industry.
Product Type – Market Breakup has been covered from 4 viewpoints
1. Cervical Device
2. Thoracolumbar Device
3. Interbody Device
4. Biologics
Surgery Type – Market Breakup has been covered from 2 viewpoints
1. Open Surgery
2. Minimally Invasive
Disease Indicator – Market Breakup has been covered from 4 viewpoints
1. Degenerative Disc Disease
2. Complex Deformity
3. Traumas & Fractures
4. Other
End Users – Market Breakup has been covered from 3 viewpoints
1. Hospitals
2. Specialty Clinics
3. Ambulatory Surgical
Regions – Market Breakup has been covered from 5 viewpoints
1. North America
2. Europe
3. Asia-Pacific
4. Latin America
5. Middle East Africa
Company Insights:
• Overviews
• Strategic Initiatives
• Financial Performance
Company Analysis:
1. Alphatec Holdings
2. Inc., B. Braun Group
3. Johnson & Johnson
4. Globus Medical
5. Medtronic
6. NuVasive
7. Orthofix Medical Inc
8. Stryker
9. Zimmer Biomet Holdings
Table of Contents
150 Pages
- 1. Introduction
- 2. Research Methodology
- 3. Executive Summary
- 4. Market Dynamics
- 4.1 Growth Drivers
- 4.2 Challenges
- 5. Global Spinal Fusion Device Market
- 6. Market Share – Global Spinal Fusion Device Market
- 6.1 By Product Type
- 6.2 By Surgery Type
- 6.3 By Disease Indicator Type
- 6.4 By End Users
- 6.5 By Regions
- 7. Product Type – Global Spinal Fusion Device Market
- 7.1 Cervical Device
- 7.2 Thoracolumbar Device
- 7.3 Interbody Device
- 7.4 Biologics
- 8. Surgery Type - Global Spinal Fusion Device Market
- 8.1 Open Surgery
- 8.2 Minimally Invasive
- 9. Disease Indicator Type – Global Spinal Fusion Device Market
- 9.1 Degenerative Disc Disease
- 9.2 Complex Deformity
- 9.3 Traumas & Fractures
- 9.4 Other
- 10. End Users – Global Spinal Fusion Device Market
- 10.1 Hospitals
- 10.2 Specialty Clinics
- 10.3 Ambulatory Surgical
- 11. Regions – Global Spinal Fusion Device Market
- 11.1 North America
- 11.2 Europe
- 11.3 Asia-Pacific
- 11.4 Latin America
- 11.5 Middle East & Africa
- 12. Porter’s Five Forces
- 12.1 Threat of New Entrants
- 12.2 Threat of Substitutes
- 12.3 Bargaining Power of Buyers
- 12.4 Bargaining Power of Suppliers
- 12.5 Degree of Competition
- 13. Company Analysis
- 13.1 Alphatec Holdings
- 13.1.1 Overview
- 13.1.2 Recent Development
- 13.1.3 Sales Analysis
- 13.2 Inc., B. Braun Group
- 13.2.1 Overview
- 13.2.2 Recent Development
- 13.2.3 Sales Analysis
- 13.3 Johnson & Johnson
- 13.3.1 Overview
- 13.3.2 Recent Development
- 13.3.3 Sales Analysis
- 13.4 Globus Medical
- 13.4.1 Overview
- 13.4.2 Recent Development
- 13.4.3 Sales Analysis
- 13.5 Medtronic
- 13.5.1 Overview
- 13.5.2 Recent Development
- 13.5.3 Sales Analysis
- 13.6 NuVasive
- 13.6.1 Overview
- 13.6.2 Recent Development
- 13.6.3 Sales Analysis
- 13.7 Orthofix Medical Inc
- 13.7.1 Overview
- 13.7.2 Recent Development
- 13.7.3 Sales Analysis
- 13.8 Stryker
- 13.8.1 Overview
- 13.8.2 Recent Development
- 13.8.3 Sales Analysis
- 13.9 Zimmer Biomet Holdings
- 13.9.1 Overview
- 13.9.2 Recent Development
- 13.9.3 Sales Analysis
- List Of Figures:
- Figure-01: Global Spinal Fusion Device Market (Million US$), 2017 – 2021
- Figure-02: Global – Forecast for Spinal Fusion Device Market (Million US$), 2022 – 2027
- Figure-03: Product Types – Cervical Device Market (Million US$), 2017 – 2021
- Figure-04: Product Types – Forecast for Cervical Device Market (Million US$), 2022 – 2027
- Figure-05: Product Types – Thoracolumbar Device Market (Million US$), 2017 – 2021
- Figure-06: Product Types – Forecast for Thoracolumbar Device Market (Million US$), 2022 – 2027
- Figure-07: Product Types – Interbody Device Market (Million US$), 2017 – 2021
- Figure-08: Product Types – Forecast for Interbody Device Market (Million US$), 2022 – 2027
- Figure-09: Product Types – Biologics Market (Million US$), 2017 – 2021
- Figure-10: Product Types – Forecast for Biologics Market (Million US$), 2022 – 2027
- Figure-11: Surgery Type – Open Surgery Market (Million US$), 2017 – 2021
- Figure-12: Surgery Type – Forecast for Open Surgery Market (Million US$), 2022 – 2027
- Figure-13: Surgery Type – Minimally Invasive Market (Million US$), 2017 – 2021
- Figure-14: Surgery Type – Forecast for Minimally Invasive Market (Million US$), 2022 – 2027
- Figure-15: Disease Indicator Type – Degenerative Disc Disease Market (Million US$), 2017 – 2021
- Figure-16: Disease Indicator Type – Forecast for Degenerative Disc Disease Market (Million US$), 2022 – 2027
- Figure-17: Disease Indicator Type – Complex Deformity Market (Million US$), 2017 – 2021
- Figure-18: Disease Indicator Type – Forecast for Complex Deformity Market (Million US$), 2022 – 2027
- Figure-19: Disease Indicator Type – Traumas & Fractures Market (Million US$), 2017 – 2021
- Figure-20: Disease Indicator Type – Forecast for Traumas & Fractures Market (Million US$), 2022 – 2027
- Figure-21: Disease Indicator Type – Other Market (Million US$), 2017 – 2021
- Figure-22: Disease Indicator Type – Forecast for Other Market (Million US$), 2022 – 2027
- Figure-23: End Users – Hospitals Market (Million US$), 2017 – 2021
- Figure-24: End Users – Forecast for Hospitals Market (Million US$), 2022 – 2027
- Figure-25: End Users – Specialty Clinics Market (Million US$), 2017 – 2021
- Figure-26: End Users – Forecast for Specialty Clinics Market (Million US$), 2022 – 2027
- Figure-27: End Users – Ambulatory Surgical Market (Million US$), 2017 – 2021
- Figure-28: End Users – Forecast for Ambulatory Surgical Market (Million US$), 2022 – 2027
- Figure-29: North America – Spinal Fusion Device Market (Million US$), 2017 – 2021
- Figure-30: North America – Forecast for Spinal Fusion Device Market (Million US$), 2022 – 2027
- Figure-31: Europe – Spinal Fusion Device Market (Million US$), 2017 – 2021
- Figure-32: Europe – Forecast for Spinal Fusion Device Market (Million US$), 2022 – 2027
- Figure-33: Asia-Pacific – Spinal Fusion Device Market (Million US$), 2017 – 2021
- Figure-34: Asia-Pacific – Forecast for Spinal Fusion Device Market (Million US$), 2022 – 2027
- Figure-35: Latin America – Spinal Fusion Device Market (Million US$), 2017 – 2021
- Figure-36: Latin America – Forecast for Spinal Fusion Device Market (Million US$), 2022 – 2027
- Figure-37: Middle East & Africa – Spinal Fusion Device Market (Million US$), 2017 – 2021
- Figure-38: Middle East & Africa – Forecast for Spinal Fusion Device Market (Million US$), 2022 – 2027
- Figure-39: Alphatec Holdings – Global Revenue (Million US$), 2017 – 2021
- Figure-40: Alphatec Holdings – Forecast for Global Revenue (Million US$), 2022 – 2027
- Figure-41: B. Braun Group Inc., – Global Revenue (Million US$), 2017 – 2021
- Figure-42: B. Braun Group Inc., – Forecast for Global Revenue (Million US$), 2022 – 2027
- Figure-43: Johnson & Johnson – Global Revenue (Million US$), 2017 – 2021
- Figure-44: Johnson & Johnson – Forecast for Global Revenue (Million US$), 2022 – 2027
- Figure-45: Globus Medical – Global Revenue (Million US$), 2017 – 2021
- Figure-46: Globus Medical – Forecast for Global Revenue (Million US$), 2022 – 2027
- Figure-47: Medtronic – Global Revenue (Million US$), 2017 – 2021
- Figure-48: Medtronic – Forecast for Global Revenue (Million US$), 2022 – 2027
- Figure-49: NuVasive – Global Revenue (Million US$), 2017 – 2021
- Figure-50: NuVasive – Forecast for Global Revenue (Million US$), 2022 – 2027
- Figure-51: Orthofix Medical Inc – Global Revenue (Million US$), 2017 – 2021
- Figure-52: Orthofix Medical Inc – Forecast for Global Revenue (Million US$), 2022 – 2027
- Figure-53: Stryker – Global Revenue (Million US$), 2017 – 2021
- Figure-54: Stryker – Forecast for Global Revenue (Million US$), 2022 – 2027
- Figure-55: Zimmer Biomet Holdings – Global Revenue (Million US$), 2017 – 2021
- Figure-56: Zimmer Biomet Holdings – Forecast for Global Revenue (Million US$), 2022 – 2027
- List Of Tables:
- Table-01: Global – Spinal Fusion Device Market Share by Product Type (Percent), 2017 – 2021
- Table-02: Global – Forecast for Spinal Fusion Device Market Share by Product Type (Percent), 2022 – 2027
- Table-03: Global – Spinal Fusion Device Market Share by Surgery Type (Percent), 2017 – 2021
- Table-04: Global – Forecast for Spinal Fusion Device Market Share by Surgery Type (Percent), 2022 – 2027
- Table-05: Global – Spinal Fusion Device Market Share by Disease Indicator Type (Percent), 2017 – 2021
- Table-06: Global – Forecast for Spinal Fusion Device Market Share by Disease Indicator Type (Percent), 2022 – 2027
- Table-07: Global – Spinal Fusion Device Market Share by End Users (Percent), 2017 – 2021
- Table-08: Global – Forecast for Spinal Fusion Device Market Share by End Users (Percent), 2022 – 2027
- Table-09: Global – Spinal Fusion Device Market Share by Regions (Percent), 2017 – 2021
- Table-10: Global – Forecast for Spinal Fusion Device Market Share by Regions (Percent), 2022 – 2027
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