Thoracic and Lumbar Fusion Devices Market 2024 [Latest Trends]: Analysis Future Opportunity and Demand Forecast Year 2030

The Latest Research Report on Thoracic and Lumbar Fusion Devices Market 2024 outlines the key factors influencing the growth of this area in terms of the competitive and geographic environment. In addition, the research discusses the obstacles to market growth and provides information on unexplored prospects that will promote company progress in the 2024-2030 forecast period.

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Major Major Players are:
Johnson and Johnson, Globus Medical Inc., Medtronic PLC, NuVasive Inc., Zimmer Biomet, Stryker Corporation, Inc, Exactech, Inc., Orthofix International N.V., Depuy Synthes, B. Braun, Melsungen AG, Wenzel Spine, Inc

Thoracic and Lumbar Fusion Devices Market Overview:

Thoracic and Lumbar Fusion Devices Market Analysis:

The Thoracic and Lumbar Fusion Devices Market refers to the medical devices and technologies used in the surgical treatment of spinal conditions affecting the thoracic (upper and mid-back) and lumbar (lower back) regions of the spine. These conditions often involve the fusion of one or more vertebrae to stabilize the spine and alleviate pain or other symptoms.

The major factors responsible for the growth of the Indian spinal fusion devices market include the growing geriatric population in India, rising incidences and prevalence of spinal problems, and rising medical tourism. These factors are also expected to contribute to the growth of this market during the forecast period. AOSpine, one of the world's leading spine societies, has stated that India witnesses more than 200,000 cases of spinal injuries each year, among which, 30,000 are related to spinal cord injury and paralysis of various degrees.

The cities that are affected by spine problems are New Delhi, Mumbai, Bengaluru, and Pune. A survey conducted by the QI Spine Clinic during 2017 indicated that 46% of Bengaluru's population in the age-group of 16-34 years reported spinal issues, and this makes it the city with the highest number of problems among the four cities. Bengaluru is followed by Delhi at 43%, Mumbai at 41%, and Pune at 38%. There were 20,000 people who were surveyed to understand the overall number of people suffering from spinal ailments in the major cities. Medical tourism is further a major driving factor for the spinal fusion devices market. In India, the prices of the spinal fusion devices and the respective spinal surgeries are low, as compared to the other countries. Therefore, numerous patients are travelling from across the world to India for treatment and spinal surgeries.

These are devices such as screws, rods, and cages made of various materials like titanium or polyetheretherkeone (PEEK). They are used to stabilize the spine during fusion surgery. Autografts (bone from the patient's own body), allografts (donor bone), and synthetic bone graft substitutes are used to promote bone fusion at the site of surgery. These include cages and spacers placed between vertebral bodies to restore disc height and support fusion. Pedicle screws are used to anchor rods to the vertebrae, providing stability and support during the fusion process. As the population ages, the prevalence of degenerative spinal conditions and the need for spinal fusion surgeries increase. Innovations in materials and surgical techniques have improved the success and safety of spinal fusion procedures. The development of minimally invasive surgical approaches has reduced patient recovery times and complications associated with traditional open surgery. Better patient awareness about spinal conditions and available treatment options has led to more surgeries. Increased healthcare spending, especially in developed countries, has facilitated the adoption of advanced spinal fusion technologies.

In March 2022, DePuy Synthes Inc acquired CUPTIMIZE Hip-Spine Analysis, providing surgeons with an easy-to-use tool for better understanding and addressing the impact of aberrant mobility between the spine and pelvis in some patients requiring total hip arthroplasty (THA). CUPTIMIZE Hip-Spine Analysis improves the surgical planning capabilities of VELYS Hip Navigation, one of DePuy Synthes' VELYS Digital Surgery platforms of connected technologies.

Thoracic and Lumbar Fusion Devices Market Trends:

The trend toward minimally invasive surgical techniques in spinal fusion procedures continued to grow. MIS procedures often result in shorter hospital stays, faster recovery times, and reduced post-operative pain for patients. The development of advanced materials, such as titanium alloys and PEEK (polyetheretherktone), for spinal implants and devices improved their strength, durability, and biocompatibility. Personalized medicine and 3D printing technologies were being used to create customized implants tailored to individual patient anatomy. This trend aimed to enhance the precision and effectiveness of spinal fusion procedures. There was a growing interest in the use of biologics, such as growth factors and stem cells, to enhance bone fusion in spinal surgeries. Additionally, synthetic bone graft substitutes were gaining popularity as alternatives to traditional autografts and allografts.

The integration of navigation and robotic-assisted surgical systems was on the rise. These technologies provided surgeons with real-time guidance and improved accuracy during spinal fusion procedures. There was a shift towards performing certain spinal fusion procedures in outpatient settings, further reducing healthcare costs and patient recovery times. Healthcare providers and device manufacturers were increasingly focusing on patient outcomes and quality of life. This included evaluating the long-term success and patient satisfaction following spinal fusion surgeries. Regulatory agencies, such as the FDA in the United States, continued to update and refine regulations governing the approval and safety of spinal fusion devices, ensuring their efficacy and patient safety.

The market saw ongoing mergers and acquisitions among medical device companies, leading to consolidation and increased competition. The Thoracic and Lumbar Fusion Devices Market was expanding globally, with emerging markets showing increased demand for advanced spinal fusion technologies. The minimally invasive spine surgery segment is expected to be the fastest-growing segment, owing to the benefits associated with the surgery, such as the reduction in blood loss during or after surgery, reduced post-operative pain and risk of infection, reduced risk of muscle and tissue damage (since there is less or no muscle cutting required), and others. Thus, because of these benefits, a higher number of people are opting for minimally invasive spinal surgeries. Surgeons can perform various types of spine surgery procedures using minimally invasive methods, such as spinal fusion, decompression, interbody cage fusion, discectomy and microdiscectomy, laminotomy, and laminectomy, among others.

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Market Segmentation are:
by Product Type (Thoracic fusion devices, Lumbar Fusion device), by Surgery Type (Minimally Invasive Surgery (MIS), Open Surgery), by End Users (Hospitals, Ambulatory surgical centres (ASCs) , Clinics and Specialty Centres, Orthopaedic Centre), by Application (Degenerative Disc Disease (DDD), Scoliosis, Spinal Trauma, Spinal Tumours), by Age (Adults & Paediatrics), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa): Global Opportunity Analysis and Industry Forecast, 2023-2031

Thoracic and Lumbar Fusion Devices insights, overview and deep study of factors are considered to have greater influence over future course of the industry such as market size, market share, different dynamics of the industry, Thoracic and Lumbar Fusion Devices market companies, regional analysis of the domestic markets, value chain analysis, consumption, demand, key application areas and more.

NOTE: Our report highlights the major issues and hazards that companies might come across due to the unprecedented outbreak of COVID-19.

How will this report benefit potential stakeholders?
-Comprehensive assessment of all opportunities and risks in the Thoracic and Lumbar Fusion Devices market.
-The detailed study of business strategies for the growth of the Thoracic and Lumbar Fusion Devices market-leading players.
-Conclusive study about the growth plot of the Thoracic and Lumbar Fusion Devices market for forthcoming years.
-In-depth understanding of Thoracic and Lumbar Fusion Devices market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Thoracic and Lumbar Fusion Devices market.

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What Thoracic and Lumbar Fusion Devices Market report offers:
1.Thoracic and Lumbar Fusion Devices Market share assessments for the regional and country-level segments
2.Market share analysis of the top industry players
3.Thoracic and Lumbar Fusion Devices Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
4.Strategic recommendations in key business segments based on the market estimations
5.Competitive landscape covering following points: Company Overview, Product Portfolio, Financial Performance, Recent Highlights, Strategies

COVID-19 has had a major impact on the world economy in addition to that on the public health. This particular pandemic had caused severe economic destruction and not a single country has been left unaffected. The virus has forced businesses around the globe to change the way they operate. This report gives an analysis of the COVID-19 aftermath on Thoracic and Lumbar Fusion Devices market.

Competitive Rivalry:
The report highlights vital details based on the leading players in the global Industrial Thoracic and Lumbar Fusion Devices market. It features their details such as product/business portfolio, market share, financial status, regional share, segment revenue, SWOT analysis, manufacturing base, capacities, production volume, major vendors, raw material sourcing strategies, organizational structure. Their latest corporate deals, joint ventures, mergers and acquisitions, product launches, and other brand promotions are other facts about the market players included in the report.

We also offer customization on reports based on specific client requirement:
1- country-level analysis for any 5 countries of your choice.
2- Competitive analysis of any market players.
3- 40 analyst hours to cover any other data points

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Finally, Thoracic and Lumbar Fusion Devices Market is a valuable source of guidance for individuals and companies in decision framework.

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Cognate Lifesciences is a specialized hub for all market research reports related to Lifesciences Market. Some of the sub domains covered by our team are Pharmaceuticals, Medical Devices and Supplies, Healthcare, Diagnostics, Biotech, Therapeutics, Healthcare IT etc. We offer syndicated/customized market research studies along with advisory and consulting services.

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