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Spinal Fusion Devices Market - Global Forecast to 2025

05-02-2018 01:49 PM CET | Health & Medicine

Press release from: Medical Devices

Frequent approval from regulatory bodies to latest spinal fusion devices is expected to be the major driver for growth of global spinal fusion devices market over the forecast period. In 2016, Spineart Geneva SA received US Food and Drug Administration (FDA) clearance for its first range of titanium interbody, named - JULIET Ti PO, OL and TL interbody systems. The JULIETTi PO, OL and TL interbody systems are the range of titanium interbody implants. It include a full range of sizes to for diverse anatomies. The smooth bullet-shaped nose, lateral sides and chamfers of the implant are polished to preserve endplates, nerve roots, and soft tissues during insertion. The Ti-LIFE Technology micro-porous scaffold mimics the bone trabecular structure, which enables cell colonization and promotes bone ingrowth. In 2016, Centinel Spine, Inc. received U.S. FDA approval for STALIF L Minimally-Invasive Lateral Integrated Interbody System. It has advantages in minimally-invasive spinal fusion surgery. Furthermore, increasing prevalence of spinal disorder is also expected to increase demand for spinal fusions devices and hence is expected to drive spinal fusion devices market growth in near future. For instance, according to a study published by World Health Organization (WHO) in 2013, globally around 250,000 and 500,000 people suffer from a spinal cord injury (SCI). According to research published by the American Academy of Pain Medicine (AAPM) in 2016, women are 1.38 times more likely to suffer cervical degenerative disc disease (DDD) than men.

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The global spinal fusion devices market was valued at US$ 7,462.4 million in 2016 and is expected to witness a CAGR of 4.6% over the forecast period (2017 – 2025).

Increasing prevalence of spinal deformities is expected to drive growth of the global spinal fusion device market

Factors responsible for spinal deformities include weight, diet, smoking, and other lifestyle factors. Early onset of degenerative spinal changes is attributed to the toxins in cigarette smoke damaging the cartilage of spine. According to World Health Organization (WHO), more than 1.1 billion people smoked tobacco in 2015 worldwide. According to a study published in SpineUniverse in 2017, disc herniation is the most common indication for spinal surgery, and around 75% of all spinal surgeries were performed for herniated disc. Increasing prevalence of spinal deformities due to unhealthy lifestyle and high chances of disc herniation are expected to drive growth of the spinal fusion devices market in near future.

Furthermore, key players in the spinal fusion devices market are focusing of strategic mergers and acquisitions to expand their product portfolio and to strengthen their position in new geographies. For instance in 2016, Zimmer acquired LDR Holding Corporation to enhance innovation and growth of their spine segment. In 2016, Globus Medical, Inc. acquired the international operations and distribution channels of Alphatec Holdings, Inc. This acquisition has expanded company's product portfolio and provided an immediate access to Japan and increased presence and penetration in other geographical areas, though the Alphatec's extensive international distributer to increase its international sales.

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Key players operating in global spinal fusion devices market include Zimmer Biomet Holdings, Inc., Inc., Stryker Corporation, Inc., Exactech, Inc., Orthofix International N.V., Globus Medical, Inc., NuVasive, Inc., Medtronic Plc., Depuy Synthes, B. Braun Melsungen AG, Wenzel Spine, Inc., K2M Group Holdings, Inc., Centinel Spine, Inc., and Spineart Geneva SA.

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