From 2018 to 2028, the global spinal fusion market would grow at a moderate pace. This would translate to a plethora of novel opportunities. These will also lead to players clamouring for tapping into the advantage that can accrue from these. Besides, market worth would also grow by a notable value. Some of the factors leading to growth in the market, as per Transparency Market Research, are increase in numbers of aged population, increase in incidence of degenerative disc diseases and spinal injuries, and lowering costs of associated procedures. Additionally, it is worth noting here that technological advancement is also playing a positive role in the market.
Global Spinal Fusion Market: Competitive Landscape
The landscape of global spinal fusion market is at the brunt of new and notable developments – a result of many and proactive measures taken by players operating the playfield. These are understood as being shaping the future of the market.
Top players operating in the global spinal fusion market 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, and Zimmer Biomet Holdings, Inc. Other players include Paragon Medical, Inc., Norman Noble, Inc., Nutech, Titan Spine, Wenzel Spine, Inc., X-Spine Systems, Inc., Tecomet, Inc., Marox Corporation, Axial Medical, Spine Wave, Inc., K2M, Inc., and Captiva Spine, LLC.
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Some of the prominent strategies that players from the fragmented landscape of global spinal fusion market opt for are mergers and acquisitions, and partnerships and acquisitions. The competition therefore is intense. To beat it, some of the players are resorting to a keen focus on research and development (R&D), and technological advancement. This does not come as a surprise considering that innovation is a critical determinant of growth in the market, particularly over the forecast period.
Global Spinal Fusion Market: Key trends and driver
The global spine fusion market is growing and multiple trends and drivers are being attributed to this growth. Some of the most notable factors are detailed out below:
- Population across the globe is ageing and the pace is quite dizzying. It is noted that over the year 2050, one in every four people in North America and one in every six people across the globe will be aged 65 and above. Europe will imitate North America in terms of the ratio. Besides, a recent study notes that increase of people aged 60 and above will be quite steep over the same period. This is a demographic that is vastly susceptible to spinal injuries.
- Road accidents are taking a humongous number of lives. And, sometimes they leave people with major injuries. This is also leading to demand in spinal fusion market. Injuries can also result from sports activities and other accidents.
Global Spinal Fusion Market: Regional Analysis
Asia Pacific is a high growth potential region as per Transparency Market Research. Over the forecast period, multiple factors would help the region chart a significant growth rate. Some of these are a large number of geriatric people, increase in incidence of spinal disorders, and low costs associated with procedures owing to technological advancement and its use. It is also pertinent to point out here that India will be a prominent contributor to growth of the region over the forecast period. Here, the government is directing massive efforts towards improvement of medical outcomes.
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Global Spinal Fusion Devices Market: Product Segment Analysis
- Thoraco-Lumbar Fixation Devices
- Lumbar Plates
- Pedicle Screws
- Cervical Fixation Devices
- Anterior Cervical Plates
- Hook Fixation Systems
- Interbody Fusion Devices
- Non-bone Fusion devices
- Bone fusion Devices
Global Spinal Fusion Devices Market: Surgery Segment Analysis
- Open Spine Surgery
- Minimally Invasive Surgery
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Global Spinal Fusion Devices Market: End-User Segment Analysis
- Ambulatory Service Centers
- Orthopedic Centers
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