Spinal Fusion Device Market Size To Witness A Pronounce Growth By 2028

Spinal Fusion Device Industry Overview

The global spinal fusion device market size was valued at USD 6.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.4% from 2021 to 2028.

Increasing numbers of spinal disorders and the growing geriatric population are boosting the market growth. According to the CDC report, around 34.0% of the adult population and 62.0% of the elderly population got affected by spinal deformities as of 2019. The common causes of spinal fusion injuries are found to be trauma, falls, collisions, or road traffic accidents.

 

Gather more insights about the market drivers, restrains and growth of the Global Spinal Fusion Device Market

 

The impact of the COVID-19 pandemic has been witnessed in nearly every industry. Like other healthcare markets, the market for spinal fusion devices has also been significantly affected. COVID-19 has led to postponed or deferred elective surgeries, a decline in sales, and dampened growth rate, among others. The decrease in surgical procedures drastically reduced the demand for devices and products required for spinal fusion. Although urgent and emergent surgeries were performed, there was a steep decline in the total number of procedures. Shortage of ICU beds and surgical rooms has been reported. Industry players witnessed slow growth and low net sales in the first two quarters of 2020.

 

After the initial impact of the pandemic, companies and governments started undertaking corrective actions to help the economy and businesses recover. These measures included policy and monetary stimuli, easing of restrictions, conditional exemptions, and other strategic initiatives. By Q3 2020, many companies reported recovery in sales with positive projections for the future. For instance, Stryker’s spine segment revenue reported double-digit growth of 11.3% in 2021 Q1 as compared to 2020.

 

Browse through Grand View Research’s Medical Devices Industry Research Reports

• Acute External Ventricular Drain Market: The global acute external ventricular drain market size was valued at USD 218.71 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.91% from 2022 to 2030.
• Alginate Dressing Market: The global alginate dressing market size was valued at USD 868.75 million in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 4.10% from 2022 to 2030.

 

Spinal Fusion Device Market Segmentation

Grand View Research has segmented the global spinal fusion device market on the basis of product, disease type, surgery, end-user, and region:

Spinal Fusion Device Product Outlook (Revenue, USD Million, 2016 – 2028)

• Thoracolumbar Devices
• Cervical Fixation Devices
• Interbody Fusion Devices

Spinal Fusion Device Disease Type Outlook (Revenue, USD Million, 2016 – 2028)

• Degenerative Disc
• Complex Deformity
• Trauma & Fractures
• Others

Spinal Fusion Device Surgery Outlook (Revenue, USD Million, 2016 – 2028)

• Open spine surgery
• Minimally Invasive Spine Surgery

Spinal Fusion Device End-User Outlook (Revenue, USD Million, 2016 – 2028)

• Hospitals
• Specialty Clinics
• Others

Spinal Fusion Device Regional Outlook (Revenue, USD Million, 2016 – 2028)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

 

Market Share Insights

• November 2020: Aurora Spine Corporation launched the SOLO ALIF standalone cage system which will eventually decrease the surgery time.
• July 2020: Zavation Medical Products introduced the Z-Span Expandable Anterior Lumbar Plate plates intended for use in the lumbar spine as additional fixation devices.

 

Key Companies profiled:

Some of the prominent players in the spinal fusion device market include:

• Johnson & Johnson Services, Inc. (DePuy Synthes)
• Stryker
• Zimmer Biomet
• Orthofix Medical, Inc.
• Braun Melsungen AG
• Medtronic
• NuVasive, Inc.
• Globus Medical
• ATEC Spine, Inc
• Captiva Spine, Inc
• SeaSpine
• Spinal Elements, Inc.
• Spine Wave, Inc.
• Spineology, Inc.
• Xtant Medical Holdings, Inc.

 

Order a free sample PDF of the Spinal Fusion Device Market Intelligence Study, published by Grand View Research.