Market Size of Global Spinal Fusion Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.25 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Spinal Fusion Devices Market Analysis
The spinal fusion devices market is projected to register a CAGR of 6.25% during the forecast period, 2022-2027.
The COVID-19 pandemic has been continuing to transform the growth of various markets, and the immediate impact of the outbreak is varied. Initially, the COVID-19 outbreak, worldwide, has been inhibiting hospitals and clinics from providing spine fusion services. For instance, a research study titled "COVID-19 pandemic and elective spinal surgery cancelations - what happens to the patients?" published in PubMed, in December 2021, stated that due to the reallocation of resources to the care of COVID-19 patients, the COVID-19 pandemic resulted in a suspension of elective procedures. Following the start of elective surgeries, a considerable number of patients continued to postpone surgery, with many still waiting to be rescheduled, potentially prolonging their discomfort and impairment of function. The study concluded that over one-third of the elective spine procedures that were canceled due to COVID-19 had not been performed in the eight months since the procedures were resumed. During the pandemic phase, such events are expected to have a negative impact on the demand for spinal fusion devices.
Moreover, the global population is aging rapidly due to the reduced birth rates and increasing life expectancy. The demographic trend toward an aging population represents an increasing need for the management of old age-associated spine disorders. According to the World Health Organization in May 2021, by 2030, 1 out of every 6 people on the planet will be 60 years old or older. The number of people aged 60 and up is expected to rise from 1 billion in 2020 to 1.4 billion by 2050. By 2050, the global population of people aged 60 and above will get double to reach 2.1 billion. Between 2020 and 2050, the number of people aged 80 and above is expected to triple, reaching 426 million. These physiological changes and prolonged exposure to risk factors increase the incidence rates of spine disorders, which may require surgical intervention. Hence, the market studied may be majorly driven by the aging population rise and growing spine disorders.
Moreover, as per the study titled "Spinal Cord Injuries" published in May 2022, every year, between 250,000 and 500,000 people worldwide suffer a spinal cord injury. The majority of these cases are the result of preventable factors such as violence and car accidents. Each year, approximately 17,000 new cases of spinal cord injury (SCI) are reported in the United States, with an estimated 282,000 people living with SCI. The majority of patients with SCI caused by a sports injury are men. The age group from 16 to 30 years old has the highest risk of SCI. Thus, the high incidence of spinal cord injuries surges the demand for spinal fusion devices over the coming years. Furthermore, the increasing preference for minimally invasive surgeries due to several benefits is propelling the overall market growth.
Increasing product launches by the key market players are anticipated to boost the market over the forecast period. For instance, in December 2021, Spine Wave reported the immediate launch of both the Defender Anterior Cervical Plate and the Stronghold C 3D Titanium Interbody Device featuring TiCell 3D advanced surface technology. The Defender Anterior Cervical Plate is a titanium plate and screw system that provides fixation for anterior cervical fusion procedures. The stringent regulation associated with spinal devices is expected to restrain the growth of the spinal fusion devices market over the forecast period.
Spinal Fusion Devices Industry Segmentation
As per the scope of this report, spinal fusion refers to an orthopedic procedure that involves the fusion of two or more vertebrae to restrict the movement of the affected vertebrae and decrease the pain suffered by the patient. The spinal fusion devices market is segmented by type (cervical fusion device, thoracic fusion device, and lumbar fusion device), type of surgery (open spine surgery and minimally invasive spine surgery), and geography (North America, Europe, Asia Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Type | |
| Cervical Fusion Device | |
| Thoracic Fusion Device | |
| Lumbar Fusion Device |
| By Type of Surgery | |
| Open Spine Surgery | |
| Minimally Invasive Spine Surgery |
| Geography | ||||||||
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Global Spinal Fusion Devices Market Size Summary
The spinal fusion devices market is experiencing a transformative phase, influenced by various factors including demographic shifts and technological advancements. The aging global population is a significant driver, as the incidence of age-related spine disorders increases, necessitating surgical interventions. This trend is compounded by the rising number of spinal cord injuries, often resulting from preventable incidents, which further fuels the demand for spinal fusion devices. The market is also witnessing a shift towards minimally invasive surgical techniques, which offer numerous benefits and are gaining popularity among healthcare providers and patients alike. Despite the challenges posed by the COVID-19 pandemic, which initially disrupted elective surgeries and impacted market growth, the industry is poised for recovery and expansion.
The competitive landscape of the spinal fusion devices market is characterized by the presence of both local and international players, with key companies such as Johnson and Johnson, Medtronic Plc, Zimmer Biomet, NuVasive Inc., and Globus Medical Inc. leading the charge. These companies are actively engaging in strategic initiatives, including product launches, collaborations, and acquisitions, to enhance their market share and drive innovation. Regulatory approvals, such as those from the United States Food and Drug Administration, are facilitating the introduction of advanced devices, further propelling market growth. The United States remains a dominant force in the market, driven by the high prevalence of spine-related disorders and the ongoing demand for effective surgical solutions. As the market continues to evolve, it is expected that new entrants, particularly small to mid-sized companies, will emerge, contributing to the dynamic and competitive nature of the industry.
Global Spinal Fusion Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Geriatric Population
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1.2.2 Rising Incidences and Prevalence of Spinal Problems
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1.2.3 Increasing Preference for Minimally Invasive Surgeries
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1.3 Market Restraints
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1.3.1 Stringent Regulation Associated with Spinal Devices
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Buyers/Consumers
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1.4.2 Bargaining Power of Suppliers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Type
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2.1.1 Cervical Fusion Device
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2.1.2 Thoracic Fusion Device
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2.1.3 Lumbar Fusion Device
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2.2 By Type of Surgery
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2.2.1 Open Spine Surgery
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2.2.2 Minimally Invasive Spine Surgery
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Spinal Fusion Devices Market Size FAQs
What is the current Global Spinal Fusion Devices Market size?
The Global Spinal Fusion Devices Market is projected to register a CAGR of 6.25% during the forecast period (2024-2029)
Who are the key players in Global Spinal Fusion Devices Market?
Johnson and Johnson, Globus Medical Inc., Medtronic PLC, NuVasive Inc. and Zimmer Biomet are the major companies operating in the Global Spinal Fusion Devices Market.
