Spinal Fusion Devices Market To See Record Break Revenue $7.43 Billion By 2022 | AMR
Pune, Maharashtra, India, December 15 2020 (Wiredrelease) Allied Analytics –:UPDATE AVAILABLE ON-DEMAND
The report on the global spinal fusion devices market highlights that the market is expected to reach $5.86 billion in 2015, and is projected to reach $7.43 billion by 2022, growing at a CAGR of 3.4% from 2016 to 2022. The report offers the current market size and forecasts along with Porter’s Five Forces analysis to help market players, stakeholders, startups, and investors to determine the current scenario and take further steps for the future. Drivers and opportunities for highest revenue generating and fastest growing segments would help in tapping into specific segment to achieve growth. Moreover, regional analysis would assist in expansion strategies for the market players and startups.
Spine fusion devices are used to treat the disorders associated with the spine. These devices restore the functionality and maintain the normal alignment of the spine. Spine fusion devices are categorized into thoracolumbar devices, cervical fixation devices, and interbody fusion devices.
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The market report includes a detailed analysis of the Covid-19 impact on the spinal fusion devices market. Over the course of 2019–2027, the market is expected to show significant growth. However, the recent Covid-19 outbreak is likely to affect some of the business operations. The report includes an analysis of how Covid-19 has and will affect the industry, studying reliable sources, interviews of experts, and annual reports of the major market players. The report includes major drivers, restraints, and opportunities within the spinal fusion devices market.
The global spinal fusion devices market is driven by factors such as advent of minimally invasive spine surgery techniques and rise in incidence of spinal disorders. In addition, surge in geriatric population is anticipated to fuel the demand for spinal fusion devices, globally. However, unfavorable reimbursement scenario and stringent regulatory approval process hamper the market growth.
The thoracolumbar fusion devices segment generated the highest revenue in the global market, and accounted for more than two-fifths share of the global market. In addition, the interbody fusion devices segment is expected to grow at a CAGR of 3.6% during the forecast period.
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North America accounted for the majority revenue share in 2015, and is expected to maintain this trend during the forecast period. However, the Asia-Pacific region is projected to grow rapidly, registering a CAGR of 4.6% during the forecast period. Improving healthcare infrastructure and increase in expenditures in the emerging markets, such as India and China, to cater to the unmet medical needs in these countries have bolstered the market growth.
The key players in the spinal fusion devices market have focused on expanding their business operations in the fast-growing economies by adopting the product launch strategy.
The major companies profiled Are:
• Alphatec Holdings, Inc.
• B. Braun Melsungen AG
• Depuy Synthes (Johnson & Johnson)
• Exactech, Inc.
• Globus Medical, Inc.
• Medtronic plc,
• NuVasive, Inc.
• Orthofix International N.V.
• Stryker Corporation
• Zimmer Biomet Holdings, Inc.
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Key Findings of the Spinal Fusion Devices Market:
• The interbody fusion devices segment is expected to grow at a CAGR of 3.6%, owing to the ability to conduct spinal fusion with less post-operative discomfort.
• The non-bone interbody fusion devices segment accounted for more than two-thirds share of the global interbody fusion devices market in 2015.
• France and Germany jointly accounted for almost two-fifths share of the European spinal fusion devices market in 2015.
• Japan was the major shareholder in the Asia-Pacific spinal fusion devices market, accounting for more than one-third share in 2015.
• The spinal fusion market in India is poised to grow at a CAGR of 6.2% during the forecast period.
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