New York, NY, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Spinal Fusion Devices Market by Product (Thoracolumbar Fixation Devices, Cervical Fixation Devices, and Interbody Fusion Devices), by Surgery (Open Spine Surgery and Minimally Invasive Surgery), and by End-User (Hospital, Ambulatory Service Centers, and Orthopedic Centers) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global spinal fusion devices market was valued at approximately USD 7.40 billion in 2017 and is expected to generate revenue of around USD 10.18 billion by the end of 2024, growing at a CAGR of around 4.67% between 2017 and 2024.
Spinal fusion is a type of technique in which different types of devices are used to join two or more than two spine vertebrae. It eliminates the motion between the vertebrae and aligns the spine to its original form. The rapid increase in spinal disorders and an increase in the awareness of the different devices for spinal fusion is expected to fuel the market growth.
Browse through 105 Tables & 25 Figures spread over 110 Pages and in-depth TOC on “Global Spinal Fusion Devices Market: By Types, Size, Industry Share, Trends, Segments, Analysis and Forecast, 2017 – 2024”.
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Spinal fusion devices market is segmented on the product, surgery, and end user. in terms of product, spinal fusion devices market is segmented into thoracolumbar fixation devices (TLFD), cervical fixation devices (CFD), and interbody fusion devices (IFD). TLFD are further divided into rods, lumbar plates, pedicle screws, hooks, and others. CFD are further segmented into hook fixation system, anterior cervical plates, screws, & others. IFD is sub-segmented into bone fusion devices and non-bone fusion devices. TLFD segment is anticipated to lead the market. The increasing spine disorder of thoracic & lumbar region is expected to fuel the growth of thoracolumbar fixation devices segment.
Based on the surgery, the spinal fusion devices market is further segmented into open spine surgery & minimally invasive surgery. Open spine surgery segment dominated the market in 2017; however, in the forecast period minimally invasive surgery segment is expected to witness the highest growth. Minimally invasive surgeries are expected to witness growth due to the less risk as compared to that of open surgeries and have fewer complications after surgery.
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On the basis of the end user, the spinal fusion devices market is segmented into ASCs, hospital, and orthopedic centers. Hospital segment is expected to dominate the spinal fusion devices market in the forecast period. The investment done by hospitals in the technology and a greater patient pool as compared to other end users are expected to fuel the growth of hospital segment.
North America dominated the global spinal fusion devices market in 2016. Increase in geriatric and obese population, rising prevalence of spinal diseases and disorders, rapid advancements in technology of spinal fusion devices, and rising demand for minimally invasive spine fusion devices are some of the factors that are driving the growth of spinal fusion devices market. Also, increase in awareness about the new technologies, increasing support for R&D by the government for development of spinal devices, rise in focus for innovations by the market players and well-established healthcare infrastructure is expected to fuel the growth of spinal fusion devices market in North America.
Browse the full "Spinal Fusion Devices Market by Product (Thoracolumbar Fixation Devices, Cervical Fixation Devices, and Interbody Fusion Devices), by Surgery (Open Spine Surgery and Minimally Invasive Surgery), and by End-User (Hospital, Ambulatory Service Centers, and Orthopedic Centers) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/spinal-fusion-devices-market
Europe is anticipated to be the second lucrative market in the global market of spinal fusion devices. The rapid increase in investment in the healthcare industry and growing awareness about the use of fusion devices for spine are mainly fueling the growth of the market in Europe. Also, the rapid increase in the geriatric population and spine disorders and abnormalities due to accidents and lifestyle is expected to fuel the growth of the market in Europe region.
Asia Pacific has a greater market potential as compared to other regions due to the rising incidences of spinal disorders and increasing healthcare expenditure. Rapid increase in aging population and obese population, low cost required for spinal procedures in developing countries such as India are also some of the factors that have increased the demand for spinal fusion devices market in Asia Pacific region. There are approximately 2000 hospitals in India that perform spinal surgeries which are complex. Availability of such advanced technologies also fuels the growth of the market. The rapid increase in accidents which cause spinal disorders also increases the demand for spinal fusion devices market.
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Latin America and the Middle East and Africa regions are expected to show the lowest growth among the regions during the forecast period. Growing expenditure on healthcare, rising prevalence of spinal disorders, and increase in obesity is expected to create an opportunity for the growth of spinal fusion devices market.
The main players involved in the global market of spinal fusion devices are NuVasive Inc., Globus Medical Inc., DePuy Synthes, Medtronic Plc, RTI Surgical Inc., Orthofix International N.V., Stryker Corporation, Zimmer Biomet Holdings Inc., K2M Group Holdings Inc., and Alphatec Holdings, Inc. The players are involved in the development of advanced spinal fusion devices which are cost-effective and highly upgraded.
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This report segments the global spinal fusion devices market as follows:
Global Spinal Fusion Devices Market: Product Segment Analysis
- Thoraco-Lumbar Fixation Devices
- Lumbar Plates
- Rods
- Hooks
- Pedicle Screws
- Others
- Cervical Fixation Devices
- Anterior Cervical Plates
- Hook Fixation Systems
- Screws
- Others
- Interbody Fusion Devices
- Non-bone Fusion devices
- Bone fusion Devices
Global Spinal Fusion Devices Market: Surgery Segment Analysis
- Open Spine Surgery
- Minimally Invasive Surgery
Global Spinal Fusion Devices Market: End-User Segment Analysis
- Hospital
- Ambulatory Service Centers
- Orthopedic Centers
Global Spinal Fusion Devices Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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