Global Spinal Fusion Devices Market: Snapshot
Our spinal structure can lose stability due to trauma, fracture, tumor, deformity, and degenerative disorders. Besides these, spinal cord injuries can happen due to blocked blood supply, injuries, infections, and compression as a result of tumor or a fractured bone. Spinal fusion devices give stability to spinal structure when it loses strength on account of aforementioned factors. The incidence of spinal cord injuries has risen significantly in the last couple years, in boosting the global spinal fusion devices market. With the launch of advanced plating systems that offer improved structural integrity and stability, the market is looking to gain momentum in the coming years. In addition to this, the advent of innovative screw systems and locking mechanisms made from modern materials such as titanium alloy will fuel growth opportunities for the market.
Transparency Market Research (TMR) has projected the global spinal fusion devices to reach US$10.96 bn by the end of 2025, rising steadily at 4.65% CAGR between 2017 and 2025. In the coming years, the market will gain from the increasing geriatric population as aged people are more vulnerable to spine disorders. Furthermore, with several technological advancements underway, experts predict sustainable growth for the global spinal fusion devices market.
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Hospitals Emerged Dominant among End Users in 2016
To present an in-depth overview, the global spinal fusion devices market is categorized in terms of end user, product, surgery, and geography. For instance, the market encompasses interbody fusion devices, thoraco-lumbar fixation devices, and cervical fixation devices in terms of product. Similarly based on surgery, the global spinal fusion devices market can be bifurcated into minimally-invasive surgery and open surgery. Of these, open surgery held dominance in the market in 2016. However, in the coming years the market is poised to witness a surging demand for minimally-invasive surgeries as they pose lesser risk and complication post surgeries.
Among end users, hospitals accounted for the highest share in the global spinal fusion devices market in 2016. Other segments within this category are ambulatory surgical centers, orthopedic centers, and clinics. In the coming years, the demand from clinical and orthopedic centers is forecast to rise thus bolstering growth opportunities for the global spinal fusion devices market.
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North America Projected to Lead Global Market through Forecast Period
Regionally, the report covers Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa. Among these regions, the market witnessed the highest demand from North America in 2016. Going forward North America is projected to remain dominant in the global spinal fusion devices market on account of the presence of a sophisticated healthcare infrastructure, high level of awareness about advanced treatments, and the rising focus of market players on innovations.