The Global Non Fusion Spinal Devices Industry is poised for a remarkable transformation, according to a recent analysis by Future Market Insights (FMI). The market is expected to experience a compelling Compound Annual Growth Rate (CAGR) of 4.8% over the next decade, reaching a staggering US$6.99 billion by the conclusion of 2033. This significant growth signifies a shift towards minimally invasive procedures for spinal conditions.
This significant growth trajectory is primarily attributed to the escalating demand for non-fusion spinal procedures, especially among the elderly population. As the world grapples with an aging demographic, the industry is strategically positioned to capitalize on this trend, with an expanding patient pool expected to drive substantial market gains.
The Global Non Fusion Spinal Devices Industry’s strategic focus on addressing prevalent conditions such as spondylolisthesis, scoliosis, and stenosis through innovative non-fusion spinal devices is a key factor propelling its success. By embracing cutting-edge technologies and revolutionary approaches, the industry aims to provide effective solutions to these conditions, further solidifying its position in the global healthcare landscape.
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The movement and stability of the patient post-spinal surgery afforded by non-fusion spinal devices is resulting in its surging adoption. Some key non-fusion spinal devices include artificial discs and growth-sparing devices. Many benefits of spinal non-fusion devices include extended healing time, adjacent segment degeneration, and bone graft donor site morbidity, which makes them a better alternative for patients in comparison to fusion devices.
Spinal issues induced by a sedentary lifestyle, obesity, and sports-associated accidents have played a significant role in the demand for non-fusion spinal devices. These surgeries improve mobility and quality of life, and are cost-effective, which is leading to their heightened adoption. The market is anticipated to flourish on account of rising incidences of spinal injuries, growing awareness, and a surging preference for minimally invasive procedures.
Global Non Fusion Spinal Devices Industry Key Highlights:
- The United States is projected to head the overall market growth, contributing significantly to the global non-fusion spinal devices market. The market growth is underpinned by favorable government initiatives in support of healthcare policies and surging health consciousness among people in America.
- China non fusion spinal devices market is thriving in the Asia Pacific region. Growing at a significant pace, the market is driven by enhancing healthcare infrastructure and advancements in technology.
- The market in Germany is being fueled by an upsurge in the geriatric population and the rising per capita income of the people in Germany. The geriatric population is prone to spinal dysfunction/disorders, thus expanding the elderly population is anticipated to boost the uptake of non-fusion spinal devices.
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Latest Market Developments in the Global Non Fusion Spinal Devices Industry:
- In May 2021, Spinal Stabilization Technologies Ltd., which offers PerQ disc Nucleus Replacement System to treat degenerative disc disease, received a Breakthrough Designation. Additionally, the device has obtained CE approval. The system is the only commercially available system for lumbar nucleus replacement across the globe.
- In February 2021, NuVasive, Inc. procured Simplify Medical, which is a privately held company that develops Simplify Cervical Artificial Disc for the procedure of cervical total disc replacement (cTDR).
- In March 2021, Implant, a company that specializes in knee and spine products, proposed to acquire a significant stake in Orthopedic & Spine Development (OSD), a French firm that specializes in the creation of implants for spine surgery.
Key Market Segmentation for Global Non Fusion Spinal Devices Industry
By Product:
- Artificial Disc Replacement Device
- Partial Disc (Nucleus) Replacement Device
- Dynamic Stabilization Devices
- Total Facet Replacement Devices
- Annulus Repair Device
- Others
By End User:
- Hospitals
- Orthopedic Centers
- Others
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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