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Sacroiliac Joint Fusion Market Overview, Outlook, Size, Share, Demand 2024-2033

10-25-2024 09:59 AM CET | Health & Medicine

Press release from: The Business Research Company

Sacroiliac Joint Fusion Market Overview

Sacroiliac Joint Fusion Market Overview

"The Business Research Company recently released a comprehensive report on the Global Sacroiliac Joint Fusion Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The sacroiliac joint fusion market size has grown rapidly in recent years. It will grow from $0.57 billion in 2023 to $0.68 billion in 2024 at a compound annual growth rate (CAGR) of 17.8%. The growth in the historic period can be attributed to incidences of chronic diseases, rise in prevalence of joint pains, increased accessibility and acceptance of sophisticated surgical techniques, rise in demand for safer joint fusion systems, increased reimbursement coverage for minimally invasive sacroiliac joint fusion.

The sacroiliac joint fusion market size is expected to see rapid growth in the next few years. It will grow to $1.32 billion in 2028 at a compound annual growth rate (CAGR) of 18.1%. The growth in the forecast period can be attributed to increasing prevalence of pain in the lower back, rising incidence of sacroiliitis or sacroiliac joint dysfunction, growing demand for procedures with lower levels of pain and fatigue, increasing preference for minimally invasive surgeries, increasing geriatric population. Major trends in the forecast period include investment in innovative technologies and procedures, adoption of new materials and technologies, improving diagnostic capabilities for sacroiliac joint disorders, usage of 3d-printed titanium implants and additive manufacturing, advanced healthcare infrastructure.

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Market Drivers and Trends:

The increasing prevalence of chronic pediatric conditions is expected to propel the growth of the pediatric radiology market going forward. Chronic pediatric conditions are long-term health issues that affect children and adolescents, persisting for a year or more and requiring ongoing medical attention or limiting daily activities. Chronic pediatric conditions are rising due to a combination of genetic predisposition, environmental factors, and lifestyle changes. Pediatric radiology is used in chronic pediatric conditions to diagnose, monitor, and manage long-term health issues through imaging techniques such as X-rays, MRI, and CT scans, providing critical information for effective treatment and care. For instance, in September 2022, according to the National Health Service, a UK-based government department, hospital admissions for children with asthma in England and Wales surged by 149% between 2021 and 2022. The number of children admitted with asthma symptoms rose to 19,506, compared to 7,850 during the 2020-2021 period. Therefore, the increasing prevalence of chronic pediatric conditions is driving the growth of the pediatric radiology market.

Major companies operating in the sacroiliac joint fusion market are developing innovative implants, such as granite implant systems, to improve patient outcomes, reduce surgery time, and enhance the overall effectiveness of the procedure. The granite implant system for SI joint fusion is a medical device designed to treat conditions affecting the sacroiliac joint, such as sacroiliac joint dysfunction or sacroiliitis, providing a path to improved quality of life through effective joint stabilization and fusion. For instance, in May 2024, SI-BONE Inc., a UK-based healthcare company that specializes in the surgical treatment of musculoskeletal disorders, launched the iFuse Bedrock Granite Implant System. This innovative implant is a smaller diameter designed for sacroiliac fusion and spinopelvic fixation, essential for multi-segment spinal fusion procedures. The new implant received a Breakthrough Device Designation from the FDA and a new technology add-on payment from CMS. The iFuse Bedrock Granite Implant System represents a significant advancement in treating SI joint dysfunction, offering a reliable and effective option for patients suffering from chronic lower back pain related to SI joint issues.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Major Key Players of the Market:

Medtronic Plc, Zimmer Biomet Holdings Inc., Integra LifeSciences, Saint Francis Health System, NuVasive Inc., Globus Medical, Orthofix Inc., Medacta International SA, Alphatec Holdings Inc., RTI Surgical Holdings Inc., SeaSpine, SI-BONE Inc., Surgalign Holdings Inc., Xtant Medical, CoreLink, Life Spine Inc., Genesys Spine, Camber Spine Technologies LLC, Captiva Spine Inc., VGI Medical LLC, PainTEQ, CornerLoc, SIGNUS Medizintechnik GmbH, Tenon Medical Inc.

Sacroiliac Joint Fusion Market 2024 Key Insights:

• The sacroiliac joint fusion market size is expected to see rapid growth in the next few years. It will grow to $1.32 billion in 2028 at a compound annual growth rate (CAGR) of 18.1%.
• Rising Prevalence Of Lower Back And Sacroiliac Joint Pain Drives Growth In Sacroiliac Joint Fusion Market
• Innovation And New Product Launches Drive Growth In The Sacroiliac Joint Fusion Market
• North America was the largest region in the sacroiliac joint fusion market in 2023

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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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The global sacroiliac joint fusion market size is estimated at US$ 620 Mn in 2022 and is likely to reach US$ 3,900 Mn by 2032. The market is expected to witness a CAGR of 20.2% during the forecast period from 2022 to 2032. Increasing prevalence of diseases across the globe is generating huge demand for advanced healthcare system. As a result, more and more technologically advanced medical devices are being employed