The global spinal fusion devices market is a competitive one with
presence of several small as well as large players, says Transparency
Market Research (TMR) in a new report. The primary growth strategy
adopted by key players include strategic acquisitions and product
launches to establish their presence in this competitive market. For
instance, in October 2017, NuVasive obtained U.S. FDA 510 (k)
clearance for Tlx interbody system employed in Tlif procedures.
Following this, in the same month, the company launched Lateral ALIF,
XLIF, Crestline, and Lateral MAS Fixation devices to make a mark in
lateral single-position surgery offerings.
Prominent participants in the global spinal fusion devices market
include Stryker Corporation, NuVasive Inc., Globus Medical Inc.,
Orthofix International N.V., Zimmer Biomet Holdings Inc., Medtronic
plc, K2M Group Holdings Inc., Alphatec Holdings Inc., Exactech Inc.,
Depuy Synthes, B. Braun Melsungen AG, , and Titan Spine LLC.
As per a report by TMR, the global spinal fusion devices market is
estimated to become worth US$10,965.7 mn by 2025 vis-à-vis revenue
expanding at a CAGR of 4.65% between 2017 and 2025.
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Among the key product type segments, thoraco-lumbar fixation devices
led the market in 2016; going forward the segment is anticipated to
lead in terms of revenue over the forecast period. In terms of
surgery, open surgery dominated the market in 2016. However,
minimally-invasive surgery is likely to surpass open surgery in terms
of CAGR over the forecast period. Geography-wise, North America
emerged as a lucrative market holding the leading market share in
2016. The region is anticipated to hold on to its dominant position
in terms of revenue over the forecast period.
The key growth drivers of the global spinal fusion devices market
include increasing number of people suffering from back pain and the
rising incidence of spinal disorders which is mainly age-related and
due to sedentary lifestyle of individuals. According to statistics of
the U.S. Census Bureau, the number of individuals above the age of 65
years in the U.S. is estimated to be over 16.7% of the total
population in 2050. The rising obesity due to sedentary lifestyles
and high consumption of foods made of refined flour also account as
significant factors for spinal disorders. This requires spinal fusion
devices for correction of these disorders either through invasive or
non-invasive procedures.
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Further, according to World Health Organization, more than 80-90% of
American population is affected by degenerative spine diseases, which
is expressed in the form of minor to severe mobility limitations.
This has led to a considerable rise in the number of spinal fusion
procedures that are performed annually in the U.S.
Technological advances and strong focus of market players on research
and development to introduce new products are also key factors acting
in favor of the market’s growth.
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