Spinal Fusion Devices : Market Size, Share & Trends Analysis Report , Segmentations, Regional Study, Key Players, Market Drivers & Dynamics, Challenges and Developments,

It is anticipated that the global spinal fusion devices market will grow at a compound annual growth rate (CAGR) of 6.22% over the forecast period.

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Spinal fusion devices are frequently implemented by patients who are undergoing spine surgery for degenerative disc disease (DDD) and ruptured discs. Spinal fusion devices are implanted into the patient's spinal cord. As a result of an ageing population and an increase in spinal maladies, the market is expanding. The market is also experiencing development due to the increasing number of spinal fusion surgeries. The demand for spinal fusion devices is increasing as minimally invasive surgery (MIS) becomes more prevalent. Surgeons prefer minimally invasive surgery (MIS) to open surgery due to its numerous advantages, including reduced pain, a shortened postoperative stay, and reduced tissue damage. The global market's revenue is expected to grow over the forecast period due to an increase in the number of traffic accidents and fatal falls, an increase in the incidences of spinal degeneration or deformities, a rising patient base, and an increase in the number of surgical procedures performed in hospitals and ambulatory surgical centres. Technology advances as a result of the government's funding for research and development and the multitude of market participants. The spinal fusion devices market is supported by two significant technology trends: the use of titanium implants and computer-based navigation systems, which provide clear MRI images and real-time imaging of the spine, respectively.

List of Prominent Players in the Global Spinal Fusion Devices Market:

• Johnson & Johnson
• Medtronic, Plc.
• Xtant Medical Holdings, Inc.
• Zimmer Biomet Holdings Inc.
• Globus Medical, Inc.
• NuVasive, Inc.
• Orthofix Medical, Inc.
• RTI Surgical, Inc.
• Stryker Corporation
• SeaSpine Holdings Corporation
• Alphatec Holdings, Inc
• B. Braun Melsungen AG
• Captiva Spine, Inc.
• Spinal Elements
• Spine Wave, Inc.
• Spineology, Inc.

Market Dynamics:

Drivers-

The spine industry is seeing an increase in the use of robotic surgery, with numerous institutions now providing it as a treatment option for various spinal illnesses. Numerous manufacturers prioritize the development of surgical robots that can be utilized in spinal fusion procedures, in addition to the company's implants and navigational aides. This has facilitated the introduction of numerous new products and the establishment of multiple strategic alliances, all of which are expected to contribute to the market's growth. In order to maintain their market share in the competitive spinal fusion devices market, major manufacturers frequently introduce innovative and state-of-the-art products. Furthermore, the global adoption of minimally invasive surgeries is prompting industry participants to develop technologies for minimally invasive spinal fusion surgeries.

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Challenges:

The global market for spinal fusion devices is primarily constrained by unfavourable reimbursement scenarios and stringent regulatory certification procedures. The devices are currently classified as class II by the US Food and Drug Administration (FDA). Their primary function is to immobilize and stabilize spinal segments. Devices that are classified within this category must satisfy the material, mechanical testing, and biocompatibility standards. The expansion of this market may be influenced by the frequent product recalls that occur as a result of the stringent regulations of the US FDA. The high cost of care limits the prospective expansion of the spinal fusion devices market. The rate of spinal surgery device integration has slowed as a result of the operations' perpetually increasing costs. This has posed a substantial obstacle for both new market entrants and large-scale institutions.

Regional Trends:

North America maintains the most substantial revenue share in the spinal fusion device market during the forecast period. An ageing population, an increase in spinal disorders, and a rise in sports injuries and catastrophic accidents are all significant factors that contribute to the demand for spinal fusion devices in

North America. It is also anticipated that the market will expand due to the region's developed healthcare infrastructure. Additionally, it is expected that critical participants will leverage advancements to capitalize on substantial untapped opportunities and propel market growth. Throughout the forecast period, the spinal fusion device market in the Asia Pacific is expected to experience rapid growth. The development can be attributed to a rise in medical tourism and government initiatives.
Furthermore, the risk of joint and spinal conditions is increasing due to the region's growing target population. It is anticipated that the spinal fusion devices market in India will experience profitable growth throughout the forecast. The expansion can be attributed to the rise in the number of foreign patients who travel to India for spinal fusion procedures.

Recent Developments:

• In March 2022, SeaSpine Holdings Corporation announced the full commercial launch of NorthStarTM Cervical Facet Fusion and the restricted commercial launch of FLASHTM Navigation Lumbar Facet Fusion, the most recent orthobiologics solutions that have been customized to meet specific procedural requirements. These innovative solutions were developed to optimize the area for fusion by streamlining a reproducible procedural process and enclosing OsteoStrand® DBM Fibers within the facet joint.

• In October 2021, NuVasive, Inc. announced the Cohere® TLIF-O implant and the Cohere TLIF-A implant in the fourth quarter. NuVasive is the sole company that offers both porous PEEK and porous titanium implants for posterior spine surgery as a result of the advancements in its Advanced Materials ScienceTM (AMS) portfolio.

• In October 2020, the United States Patent and Trademark Office (USPTO) issued a "Notice of Allowance" to Captiva Spine, Inc. for their patent on the TransFasten, a novel posterior sacroiliac (SI) joint fusion system. The sacroiliac joint is prepared for a safe, repeatable, and simple SI joint fusion surgery using the system's precision form of Quadracentric™ carpentry.

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Segmentation of Global Spinal Fusion Devices Market-

By Product
• Rods and Stem
• Hook
• Plates
• Cages
• Screws
• Pin and Wire
• Spacers

By End User
• Specialty Clinics and Ambulatory Surgical Center
• Hospital

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By Region-
• North America-
o US
o Canada
o Mexico

• Europe-
o Germany
o UK
o France
o Italy
o Spain
o Rest of Europe

• Asia-Pacific-
o China
o Japan
o India
o South Korea
o South East Asia
o Rest of Asia Pacific

• Latin America-
o Brazil
o Argentina
o Rest of Latin America

• Middle East & Africa-
o GCC Countries
o South Africa
o Rest of the Middle East and Africa

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This release was published on openPR.