Market Analysis Forecasts Spinal Fusion Market to Reach US$ 16.2 Billion by 2032, Indicating a Strong Growth Trend

By the end of 2022, the global spinal fusion market is projected to be worth US$9.49 billion. From 2022 to 2032, the market is anticipated to continue to grow at a CAGR of 5.5%. By the end of 2032, its value is forecast to reach US$ 16.2 Bn. In the global spinal fusion market, pedicle screws and rods are in the lead with a market share of about 52.1% in 2021.

The global spinal fusion market is witnessing significant growth, driven by advancements in surgical techniques and an increasing incidence of spinal disorders worldwide. Spinal fusion, a surgical procedure aimed at stabilizing the spine, has emerged as a highly effective treatment option for various spinal conditions, including degenerative disc disease, herniated discs, and spinal deformities.

According to recent market research, the global spinal fusion market is projected to experience substantial expansion over the forecast period. Factors contributing to this growth include the growing geriatric population, the rising prevalence of lifestyle-related spinal conditions, and the increasing adoption of minimally invasive surgical procedures. Additionally, technological advancements, such as the development of innovative implant materials and advanced surgical tools, are further fueling market growth.

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Future Market Insights (FMI) delivers key insights on the global spinal fusion market in its upcoming report titled “Spinal Fusion Market: Global Industry Analysis 2012–2016 and Opportunity Assessment 2017 – 2027.” In terms of revenue, the global spinal fusion market is projected to register a CAGR of 5.4% over the forecast period, owing to various factors, regarding which FMI offers detailed insights and forecasts in this report. 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.

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. 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.

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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. In this report, we have discussed the individual strategies followed by these companies regarding bringing improvements in their products, creating new manufacturing facilities, market consolidation and advanced R&D initiatives. The report concludes with key takeaways for players already present in the market and new players planning to enter the market.

Market segmentationThe global spinal fusion market is segmented on the basis of product type into:

• Interbody Cages
• Pedicle Screws and Rods
• Spinal Fusion Plates

On the basis of procedure type, the global spinal fusion market is categorised into:

• Posterolateral Fusion
• Interbody Fusion
  • Anterior Lumbar Interbody Fusion (ALIF)
  • Extreme Lateral Interbody Fusion (XLIF)
  • Posterior Lumbar Interbody Fusion (PLIF)
  • Transforaminal Lumbar Interbody Fusion (TLIF)
  • Others

On the basis of end-user, the global spinal fusion market is categorized into:

• Hospitals
• Speciality Clinics
• Ambulatory Surgical Centres

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About FMI:

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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