Spinal Fusion Devices Market Revenues to Reach US$ 10.96 Billion by the End of 2025

The global spinal fusion devices market is foretold to witness the dominance of a few well-established players, notes a new market study by Transparency Market Research (TMR). Key players in the market give cut-throat competition to each other in order to boost sales and expand their customer base. To sustain in this intensely competitive market, key players have been quintessentially been involved in introducing new products and advancement of existing products.

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Some of the leading companies in the global spinal fusion devices market are Zimmer Biomet Holdings Inc., Alphatec Holdings Inc., Stryker Corporation, Globus Medical Inc., Titan Spine LLC Medtronic plc, B. Braun Melsungen AG, Exactech Inc., K2M Group Holdings Inc., NuVasive Inc., and Depuy Synthes.

TMR forecasts the global market for spinal fusion devices to rise at a steady 4.6% CAGR over the forecast period extending from 2017 to 2025. At this pace, the market would be worth US$10,965.7 mn by the end of 2025. Among the key segments based on product type, thoraco-lumbar fixation devices held supremacy in 2016; the segment is anticipated to continue to remain at the fore over the forecast period. By region, North America held the maximum share in 2016 vis-à-vis revenue, and is predicted to maintain its lead position over the forecast period. The growth of the region is mainly because of presence of an ultra-modern healthcare infrastructure. Furthermore, advanced products introduced consistently coupled with high awareness among individuals is contributing to this regional market’s growth.

Product Innovation to Fuel Market Growth

The high incidence of back pain has raised concerns in the medical fraternity to find effective cure for it. This has led to increasing demand for spinal fusion devices and have brought them in the spotlight of attention for spinal disorders. The incidence of spinal disorders is on the rise due to growing geriatric population globally. This has created substantial demand for spinal fusion devices.

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The sedentary lifestyle of individuals nowadays is also related to several diseases, among which spinal dysfunctions is common. As people become lethargic in everyday life, spine disorders are bound to crop up. Hence, lifestyle changes have also played a key role in the demand for spinal fusion devices market.

Quick Adoption of Novel Devices Favors Market

Furthermore, patients with back pain for prolonged time period are quick to adopt any new treatment device that is commercially available. Hence, research and development pursuits to introduce improved spinal fusion devices is likely to contribute significantly to this market. The key players in the market have undertaken a host of activities to introduce technologically advanced products thereby leading market demand to soar high. With the launch of novel plating systems that provide better structural integrity and stability, the market is foreseen to gain impetus in the forthcoming years. Moreover, the advent of newer screw systems and locking mechanisms manufactured from modern materials such as titanium alloy will further propel the spinal fusion devices market.

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