By the end of 2022, the market for spinal fusion is projected to be worth US$9.49 billion. From 2022 to 2032, the market is anticipated to continue to grow at a CAGR of 5.5%. By the end of 2032, its value is forecast to be US$ 16.2 billion. In the global spinal fusion market, pedicle screws and rods are in the lead with a market share of roughly 52.1% in 2021.
A key trend witnessed in the global spinal fusion market is the rise in the development of minimising load due to increasing adverse reactions. Furthermore, the growing importance of developing advanced products among big players to enhance their product portfolio is another key trend in the global spinal fusion market.
Spinal fusion is a surgical procedure to fuse two or more vertebrae to restrict their movement. The procedure is recommended to eliminate the pain caused by incorrect movement of vertebrae. Although the procedure is most commonly done for lumbar region, cervical and thoracic vertebrae can also be treated in cases of damage due to accidents or to reduce pressure on the nerves.
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Market Segmentation and Forecast
The global spinal fusion market is segmented based on product type, procedure type, end user and region. Based on product type, the market is segmented into interbody cages, pedicle screws and rods, and spinal fusion plates. Interbody cages is predicted to be the leading product type segment in the global spinal fusion market over the forecast period. Attenuated interbody cages segment will represent major revenue share of the global spinal fusion market in 2017.
By procedure, the global spinal fusion market is segmented into posterolateral fusion and interbody fusion. Interbody fusion is the leading segment in the global spinal fusion market over the forecast period. By end user, the global spinal fusion market is segmented into hospitals, speciality clinics and ambulatory surgical centres. Hospitals is the leading segment in the global spinal fusion market over the forecast period. Demand for spinal fusion is expected to be the highest in ambulatory surgical centres, which is expected to register a CAGR of 6.6 % over the forecast period.
This report assesses the trends that are driving the growth of each segment at the global as well as regional level, and offers potential takeaways that could prove substantially useful to manufacturers looking to enter the market. North America is expected to gain popularity over the forecast period, driven by increasing prevalence of spinal injuries across the region.
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The North America regional market is projected to dominate the global spinal fusion market, accounting for a maximum revenue share of the global market by 2017 end. The markets in North America, Western Europe, and Asia Pacific are collectively expected to account for around 68.6% of the global spinal fusion market value share by 2017 end. Revenue from the market in APEJ is estimated to expand at a CAGR of 8.9% over the forecast period.
Key Players
Some of the leading market players covered in the report include Zimmer Biomet Holdings. Inc., K2M, Inc., MicroPort Scientific Corporation, Medtronic Plc., Johnson and Johnson (DePuy Synthes), Stryker Corporation, Integra Lifesciences Holdings Corp, Orthofix Holdings, Inc., Shandong Weigao Group Medical Polymer Company Limited, Bonovo Orthopedics, Inc., Suzhou Gemmed Medical Instrument Co. Ltd, NuVasive, Inc., B. Braun Melsungen AG, Globus Medical Inc., RTI Surgical, Inc., Expanding Orthopedics Inc., Vallum Corporation, ChoiceSpine, LP, Life Spine, Inc, and Precision Spine, Inc.
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Key Segments Covered in Spinal Fusion Market Research Report
By Product:
- Interbody Cages
- Pedicle Screws and Rods
- Spinal Fusion Plates
By Procedure:
- Posterolateral Fusion
- Interbody Fusion
- Anterior Lumbar Interbody Fusion (ALIF)
- Extreme Lateral Interbody Fusion (XLIF)
- Posterior Lumbar Interbody Fusion (PLIF)
- Transformational Lumbar Interbody Fusion (TLIF)
- Others
By End User:
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
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