Non Fusion Spinal Devices Market is expected to increase at a CAGR of 4.8 percent from 2022 to 2026
Non Fusion Spinal Devices Market Overview
The non-fusion spinal devices market was valued at $3.8 billion in 2020 and is expected to increase at a CAGR of 4.8 percent from 2021 to 2026.
The global demand for spinal non-fusion devices is driven by an ageing population, technological improvements, rising obesity rates, a competitive market, and rising desire for minimally invasive surgery treatments. However, during the forecast period, the non-fusion spinal devices market’s expansion was stifled by insecure reimbursement rules.
The non-fusion spinal devices market is growing because of rising prevalence of spinal disorders such as spinal stenosis and degenerative disc disease. A primary driving reason is the growing trend toward aggressive operations mixed with technological advancement.
Furthermore, problems such as obesity and heart attacks are being caused by the expanding geriatric population and lifestyle difficulties, which is boosting the global demand for non-fusion spinal devices.
Growing cases of spinal illnesses such as degenerative disc disease, as well as an ageing population, are propelling the global demand for non-fusion spinal devices forward, particularly in the United States and Europe.
Demand for non-invasive surgery, as well as technological advancements in medical equipment, are propelling the market forward. Instability in reimbursement policies is a stumbling block to market expansion. Furthermore, the expensive cost of these implants is driving up healthcare expenditures, limiting the market and creating a hurdle to the worldwide non-fusion spinal devices market‘s growth.
What are the Key Growth Contributors to the Non-fusion Spinal Devices Market?
Spinal implants are devices used to treat disproportion of spine, provide stability and strengthen the spine of patients. These devices are broadly segmented as fusion and non-fusion spinal devices. Non-fusion technologies into spinal surgery have improved outcomes by providing patients with at least some movement and flexibility in the spine.
The demand for non-fusion spinal devices mainly originates from the patients who are suffering from the problem of gradual disc damage, degenerative disc disease often results in disc herniation, and chronic back or neck pain.
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According to WHO, back pain affects people of all ages, from children to the elderly, and is a very frequent reason for medical consultations. It is difficult to estimate the incidence of back pain as the incidence of back pain is already high by early adulthood and symptoms tend to recur over time. The lifetime prevalence of non-specific (common) back pain is estimated at 60% to 70% in industrialized countries.
What are the Major Factors Impacting the Growth of the Non-fusion Spinal Devices Market Share?
Non-fusion spinal technologies and disc diagnostic devices. The global non-fusion spinal devices market share is driven by an aging population, an increase in the number of obesity patients, and a rise in the demand for minimally invasive surgery procedures
Non fusion spinal technologies devices market is driven by new technological advancements. The huge population afflicted from obesity and back pain problems drives the global market. However, unstable reimbursement policies act as a major barrier for the demand for non-fusion spinal devices.
With rapid technological advancement and wide acceptance of non-fusion spinal technologies and disc diagnostic devices among patients with back pain problem, the global non fusion spinal technologies market is expected to grow at healthy CAGR in the forecast period.
How is the Competitive Environment in the Non-fusion Spinal Devices Market?
Orthopediatrics Corporation has acquired Api Ltd, a company that has FDA-approved non-fusion scoliosis technology.
Some of the key participating players in the non-fusion spinal devices market are Zimmer Holdings Inc., Medtronic Inc., DePuy Synthes, Stryker Corporation, and others.
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