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Global Spinal Fusion Devices Market info
Global Spinal Fusion Devices Market seg
Global Spinal Fusion Devices Market is anticipated to exhibit a CAGR of 6.22% during the forecast period.
Prominent Players in the Global Spinal Fusion Devices Market:Alphatec Holdings, Inc,B. Braun Melsungen AG,Captiva Spine, Inc.,Globus Medical, Inc.,Johnson & Johnson,Medtronic, Plc.,NuVasive” — Insightace Analytic
NEW JERSEY, NJ, USA, September 28, 2022 / / -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the ' By Product (Screws, Plates, Cages, Pin and Wire, Rods and Stem, Hook, And Spacers), End-User (Hospitals, Speciality Clinics, Ambulatory Surgical Centres, And Others) - Trends, Industry Competition Analysis, Revenue and Forecast To 2030.'
Global Spinal Fusion Devices Market is anticipated to exhibit a CAGR of 6.22% during the forecast period.
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Patients undergoing spine surgery for degenerative disc disease (DDD) and ruptured discs often employ spinal fusion devices. The patient's spinal cord is implanted with spinal fusion devices. The market is expanding due to an aging population and an increase in spinal illnesses. The market's growth is also benefiting from the growing number of spinal fusion surgeries. The need for spinal fusion devices is rising as minimally invasive surgery (MIS) becomes more widely used. With the numerous benefits like less pain, a shorter post-operative stay, and less tissue damage, surgeons choose MIS over open surgery. An increase in the incidences of spinal degeneration or deformities, an increase in the number of traffic accidents and fatal falls, a rising patient base, and an increase in the number of surgical procedures carried out in hospitals and ambulatory surgical centres are additional factors that are anticipated to support the growth of the global market's revenue over the forecast period. The existence of a large number of market participants and the money that the government raises for research and development contribute to the advancement of technology. The use of computer-based navigation systems and titanium implants, which give clear MRI images and real-time imaging of the spine, respectively, are two significant technology trends supporting the spinal fusion devices market.
List of Prominent Players in the Global Spinal Fusion Devices Market:
Alphatec Holdings, Inc
B. Braun Melsungen AG
Captiva Spine, Inc.
Globus Medical, Inc.
Johnson & Johnson
Medtronic, Plc.
NuVasive, Inc.
Orthofix Medical, Inc.
RTI Surgical, Inc.
Stryker Corporation
SeaSpine Holdings Corporation
Spinal Elements
Spine Wave, Inc.
Spineology, Inc.
Xtant Medical Holdings, Inc.
Zimmer Biomet Holdings Inc.
Market Dynamics:
Drivers-
Robotic surgery is increasingly used in the spine industry, with many hospitals now offering it as a treatment option for various spinal illnesses. Developing surgical robots that can be employed in spinal fusion procedures along with the business's implants and navigational aids is a major priority for several manufacturers. This has opened the door for numerous strategic alliances and the introduction of new products, all of which are predicted to fuel the market's expansion. Major manufacturers regularly introduce new and cutting-edge products to preserve their position in the competitive spinal fusion devices market. Additionally, minimally invasive surgeries are gaining significant ground globally, driving industry participants to introduce technologies for minimally invasive spinal fusion surgeries.
Challenges:
Unfavourable reimbursement scenarios and strict regulatory clearance procedures are the main factors limiting the growth of the global market for spinal fusion devices. The devices are now categorized by the US Food and Drug Administration (FDA) as class II; these devices are primarily designed to immobilize and stabilize spinal segments. The material, mechanical testing, and biocompatibility standards must be met by any devices falling within this class. Product recalls are frequent due to the US FDA's strict rules, which could also impact this market's expansion. The high cost of care constrains the spinal fusion devices market potential expansion. The pace of integrating spinal surgery devices has decreased due to the operations' continually rising costs; this has been a significant barrier for both new market entrants and large-scale hospitals.
Regional Trends:
In the forecast period, North America holds the most significant revenue share in the market for spinal fusion devices. The need for spinal fusion devices in North America is driven by several important variables, including an ageing population, an increase in spinal disorders, and an increase in sports injuries and fatal accidents. The region's developed healthcare infrastructure is also anticipated to fuel market expansion. In addition, significant untapped prospects are anticipated to drive market expansion through advances by key players. The Asia Pacific will likely witness rapid spinal fusion device market growth throughout the forecast period. A surge in medical tourism and government initiatives can be blamed for the development. Additionally, the region's expanding target population is raising the danger of joint and spinal conditions. Throughout the forecast, India's market for spinal fusion devices is anticipated to develop profitably. The expansion can be ascribed to increased foreign patients travelling to India for spinal fusion procedures.
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Recent Developments:
•In March 2022, SeaSpine Holdings Corporation announced the complete commercial launch of NorthStarTM Cervical Facet Fusion and the restricted commercial launch of FLASHTM Navigation Lumbar Facet Fusion, the most recent orthobiologics solutions customised to specific procedural requirements. These first-of-its-kind solutions were created to streamline a reproducible procedural process while optimising the area for fusion with OsteoStrand® DBM Fibers enclosed within the facet joint.
•In Oct 2021, NuVasive, Inc. announced the launch of the Cohere® TLIF-O implant and the fourth-quarter launch of the Cohere TLIF-A implant. NuVasive is the only company that provides both porous PEEK and porous titanium implants for posterior spine surgery due to these advancements to its Advanced Materials ScienceTM (AMS) portfolio.
•In Oct 2020, Captiva Spine, Inc. received a“Notice of Allowance” by the United States Patent and Trademark Office (USPTO) for their patent on a novel posterior sacroiliac (SI) joint fusion System named TransFasten. Specifically, the system's precision form of Quadracentric™ carpentry which prepares the sacroiliac joint intended for an easy, safe, and repeatable SI joint fusion surgery.
Segmentation of Global Spinal Fusion Devices Market-
By Product
•Screws
•Plates
•Cages
•Pin and Wire
•Rods and Stem
•Hook
•Spacers
By End User
•Hospital
•Specialty Clinics and Ambulatory Surgical Center
By Region-
•North America-
oUS
oCanada
oMexico
•Europe-
oGermany
oUK
oFrance
oItaly
oSpain
oRest of Europe
•Asia-Pacific-
oChina
oJapan
oIndia
oSouth Korea
oSouth East Asia
oRest of Asia Pacific
•Latin America-
oBrazil
oArgentina
oRest of Latin America
• Middle East & Africa-
oGCC Countries
oSouth Africa
oRest of the Middle East and Africa
•Others
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Priyanka Tilekar
Insightace Analytic Pvt. Ltd.
+1 551-226-6109
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