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Interbody Fusion Cages Market Size, Share, Growth & Trends 2024-2033 | Key Players & Outlook
Interbody Fusion Cages Market Size
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According to The Business Research Company's, The interbody fusion cages market size has grown steadily in recent years. It will grow from 2.18 billion in 2023 to $2.29 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to an increase in the geriatric population, an increase in obesity rates, a surge in sports-related injuries, economic growth, and hospital infrastructure development.
The interbody fusion cages market size is expected to see strong growth in the next few years. It will grow to $2.79 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to growing awareness of minimally invasive surgical procedures, increasing number of spinal surgeries, rising number of accidents, upsurge in disposable income, and increasing prevalence of degenerative diseases. Major trends in the forecast period include technological advancements, integrated graft delivery systems, strategic collaborations, minimally invasive approaches, and modular and adjustable designs.
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Market Drivers and Trends:
The increasing construction activities are expected to propel the growth of the extended cord reels market going forward. Construction activities encompass a wide range of tasks involved in building, renovating, and maintaining structures and infrastructure. These activities are essential for creating residential, commercial, and industrial buildings and public works such as roads, bridges, and utilities. The increasing construction activities are due to rapid urbanization, infrastructure development, and a focus on efficiency and accuracy in building projects. Extended cord reels are crucial in facilitating electrical power distribution on construction sites, offering practical solutions for managing cords, improving safety, and enhancing productivity. For instance, in December 2021, according to the United States Census Bureau, a US-based government agency, the value of construction activities increased from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, with a growth rate of 10.2%. Therefore, the increasing construction and real estate activities drive the extended cord reels market.
Major companies operating in the interbody fusion cages market are developing innovative products, such as expanding interbody cages, to serve customers with advanced features better. An expanding interbody cage, also known as an expandable interbody cage, is a type of spinal implant used in fusion procedures that can expand in size after being inserted into the disc space between two vertebrae. For instance, in May 2022, Accelus, a US-based medical equipment manufacturer, launched the TiHawk7 Titanium, a bonded multidirectional expanding interbody cage to facilitate endoscopic and minimally invasive spine (MIS) lumbar fusion procedures. This innovative device offers an ultra-low insertion profile with multidirectional interbody expansion, combining titanium and PEEK materials for optimal performance. The device's unique features include an ultra-low insertion profile, an open-architecture design for maximum graft delivery, and an innovative titanium application.
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Major Key Players of the Market:
Medtronic plc, Johnson & Johnson, Stryker Corporation, B. Braun Melsungen AG, Depuy Synthes, Shanghai MicroPort Orthopedics Co. Ltd., Zimmer Biomet Holdings Inc., NuVasive Inc., Medacta International SA, Alphatec Spine Inc., SeaSpine Orthopedics Corporation, Orthofix International N.V., Surgalign Spine Technologies, Rivarp Medical Private Limited, Baumer S.A., Medicrea International, Precision Spine Inc., Spineart SA, Benvenue Medical Inc., Aurora Spine Inc., Ulrich Medical USA, Elite surgical, CarboFix Orthopedics Ltd., Prodorth International Inc., K2M Group Holdings Inc., Biomet Inc., Intelivation LLC, Eminent Spine
Interbody Fusion Cages Market 2024 Key Insights:
• The interbody fusion cages market size is expected to see strong growth in the next few years. It will grow to $2.79 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%.
• Increasing Incidence Of Spinal Cord Injuries To Drive Growth In The Interbody Fusion Cages Market
• Accelus Launches Innovative Tihawk7 Expandable Interbody Cage For Endoscopic And MIS Lumbar Fusion
• North America was the largest region in the interbody fusion cages market in 2023
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