Spinal Interbody Fusion Market

Global Spinal Interbody Fusion Market

Spinal Interbody Fusion Market- By Type, Surgery, End User and Region.

Market Synopsis:

The Global Spinal Interbody Fusion Market is valued at USD 7.1 Billion in the year 2021 and is projected to reach a value of USD 8.6 Billion by the year 2028. The Global Market is forecasted to grow exhibiting a Compound Annual Growth Rate (CAGR) of 3.4% over the forecast period.

Spinal Interbody Fusion is a surgical treatment that involves fusing two or more vertebrae together to prevent them from moving. The technique is advised to treat pain caused by improper vertebral mobility. In men and women over the age of 50, spinal problems such as spinal stenosis are the most prevalent condition. Spinal deficits are common among the elderly, especially among individuals with comorbidities and/or impaired immunity.

With the introduction of new age spine fusion and gadgets, spine level therapy choices are always expanding. Furthermore, the usage of these implants and devices is one of the most successful and recommended treatments for spinal misalignments and degenerative alterations. The trend toward less invasive spine operations, the rise in the prevalence of spinal illnesses, and innovations in spine surgery are all major factors driving the growth of the Spinal Interbody Fusion Market.

Increased geriatric population and increased occurrences of spinal illnesses are driving market growth. Spinal fusion devices are used to treat degenerative disc disease and spondylolisthesis, among other conditions. Increased geriatric population and increased occurrences of spinal illnesses are driving market growth.

Furthermore, the market is expected to rise as the number of indications for spinal fusion surgery grows. However, the market is projected to be limited by unfavorable reimbursement scenarios and strict regulatory approval procedures for these devices. On the contrary, demand for spinal implants and devices are predicted to increase in emerging markets.

Furthermore, technological improvements in augmented and virtual reality, endoscopic surgery, and 3D printed implants for minimally invasive surgery are likely to drive market expansion.

Market Segmentation:

The Spinal Interbody Fusion Market is segmented on the basis of Type, Surgery and End use. On the basis of Type, the market is segmented into Cervical Fixation Devices, Interbody Fusion Devices and Thoracolumbar Devices. On the basis of Surgery, the market is segmented into Minimally Invasive Spine Surgery and Open Spine Surgery. On the basis of End use, the market is segmented into Hospitals, Specialty Clinics and Others.

Based on Type:

The thoracolumbar devices segment is expected to have the largest market share. The increased prevalence of lumbar spine degeneration and the increasing availability of a variety of thoracolumbar fixation devices are the main reasons driving this segment's growth. Because of the fast adoption of spine navigation software and attractive health insurance coverage, the cervical devices industry is expected to grow. The key causes for the interbody devices segment's expansion are the rapid adoption of expandable interbody devices and rising demand for interbody spacer devices.

Based on End Use:

Because of the rapid adoption of advanced spine surgery products and the gradual increase in the number of robotic spine surgeries, the hospitals and ambulatory surgery centres segment is expected to dominate the market throughout the forecast period. Additionally, spinal fusion procedures in ambulatory surgery centres are resulting in significant cost savings, which is expected to propel the segment even further. Because of the gradual shift toward minimally invasive spine fusion procedures and the increase in the number of spine surgeons, the specialty clinics segment is expected to grow significantly.

North America is Observed to be the Largest Share Holding Region in the Market

North America acquires the largest market share with a share of 47.20%. Throughout the forecast period, North America is expected to dominate the global spinal fusion devices market share. A significant increase in the number of spinal fusion procedures performed in ambulatory surgical centers and outpatient settings, as well as the rapid adoption of spine navigation tools and surgical robots, are expected to drive the market in North America. Demand for spinal implants and devices are expected to be driven by emerging markets. Furthermore, advances in augmented and virtual reality, endoscopic surgery, and 3D printed implants for minimally invasive surgery are expected to drive market growth. The market is expanding due to an increase in the geriatric population and an increase in the incidences of spinal disorders. Furthermore, the expansion of indications for spinal fusion surgery boosts market growth.