Spinal Fusion Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Spinal Fusion Devices Market By Product Type (Thoracolumbar Devices, Cervical Devices, And Interbody Fusion Devices ), By Indication (Degenerative Disc Disorders, Complex Deformity, Trauma & Fractures, And Others), By End-User (Hospitals, Orthopedic Clinics, And Others), by geography is expected to grow at a significant CAGR forecast till 2030 owing to increasing spinal deformities and rise in demand for minimally invasive surgeries

Global Spinal Fusion Devices Market was valued at USD 6.49 billion in 2023, growing at a CAGR of 4.55% during the forecast period from 2024 to 2030 to reach USD 8.47 billion by 2030. The rise in demand for Spinal Fusion Devices is primarily attributed to the rising prevalence of spinal disorders such as degenerative disc disorders, spondylolisthesis, disc herniation, spinal stenosis among the growing old-age population worldwide; increase in demand for minimally invasive surgeries. In addition, technological advancement in the product line, and new product launches among others are also expected to drive the global spinal fusion market.

Spinal Fusion Devices Market Dynamics:

Spinal Fusion surgery is used to rectify disorders related with small bones in the spine. The procedure involves fusion of two or more vertebrae in the vertebral column for the treatment of degenerative discs, fractured vertebra, spondylolisthesis, disc herniation, and spinal canal stenosis, among others. In recent years, the number of spine fusion surgeries has gradually increased. This is owing to the rising prevalence of various spine associated deformities caused primarily due to aging, road traffic crashes, falls or violence. According to the Spinal Cord Injuries Australia, a non-government organization, statistics 2022, approximately 15000 of the population live with a spinal cord injury (SCI). Also according to the data, traumatic spinal cord injury due to traffic crashes contributed to 46% of all the cases whereas falls contributed to around 36% of all the traumatic SCI cases. Similarly, according to the recent estimates (2020-2022) by the three leading charities: Spinal Injuries Association, Aspire and Back Up providing support to the spinal cord injured people in the UK that the number of people injured or diagnosed with a life-changing spinal cord injury in the UK is 2,500 per year, whilst the total number of people living with a spinal cord injury in the UK is 50,000. Previously it was widely believed, including by the (National Health Service) NHS itself, that only 1,000 people were injured or diagnosed each year and that the total number of people living with a spinal cord injury was 40,000. Moreover, according to the National Spinal Cord Injury Database 2019, the annual incidence of spinal cord injury (SCI) is approximately 54 cases per one million people in the United States, or about 17,730 new SCI cases each year and the prevalence is approximately 291,000 persons, with a range from 249,000 to 363,000 persons. Thus, the high cases of spinal cord injuries is propelling the market for the global spinal fusion devices.

Furthermore, rising burden of geriatric population across the globe is also expected to contribute to the market growth. This is because old population are more susceptible for developing spine associated disorders and ailments. For instance, according to WHO 2018 report, by 2050, the world's population aged 60 years and older was expected to total 2 billion and will outnumber children younger than 5 years.

In addition, increasing demand for the minimally invasive spine fusion surgeries due to advantages such as smaller incisions, less muscle damage, decreased blood loss and length of hospital stay following surgery in comparison to standard open approach will also contribute to the global spinal fusion devices during the forecasted period.

Certain factors such as stringent regulation for the spinal devices, and few product recalls may pose a minor hurdle for the growth of the Spinal Fusion Devices market.

Spinal Fusion Devices Segment Analysis:

Spinal Fusion Devices Market By Product Type (Thoracolumbar Devices, Cervical Devices, and Interbody Fusion Devices), By Indication (Degenerative Disc Disorders, Complex Deformity, Trauma & Fractures, and Others), By End-User (Hospitals, Orthopedic Clinics, and Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

]In Spinal Fusion Devices product segment, the thoracolumbar devices is anticipated to hold the largest market share during the forecasted period. This is due to the availability of a variety of thoracolumbar fixation devices. In addition, rising prevalence of lumbar spine degeneration worldwide are the major driving factors contributing to the segmental growth of the global spinal fusion devices market. For instance, according to a study: Degenerative Lumbar Spine Disease: Estimating Global Incidence and Worldwide Volume by Ravindra M.V. et al., published in NCBI in the year 2018, a total of 266 million individuals (3.63%) worldwide were found to have Lumbar degenerative spine disease (DSD) and low back pain (LBP) annually.

Moreover, recent product approval in is also anticipated to further boost the segmental market of the spinal fusion devices. For instance, in August 2020, Orion Biotech Inc. received the US Food & Drug Administration (FDA) approval for Thoracolumbosacral Pedicle Screw System intended to provide posterior, non-cervical immobilization and stabilization of spinal segments in skeletally mature patients as an adjunct to fusion in the treatment of the following acute and chronic instabilities or deformities of the thoracic, lumbar, and sacral spine : degenerative spondylolisthesis with objective evidence of neurological impairment; fracture; dislocation; scoliosis; kyphosis; spinal stenosis; tumor; pseudarthrosis and/or failed previous fusion. Therefore, aforementioned factors are likely to propel the segmental growth of Spinal Fusion Devices market.

North America is expected to dominate the Overall Spinal Fusion Devices Market:

Among all the region, North America is expected to dominate the overall Spinal Fusion Devices market during the forecast period. This domination is due to the improved healthcare infrastructure, favourable reimbursement scenario in the region.

Further, in the United States the rising prevalence of low back pain (LBP) among the population is expected to boost the spinal fusion devices market in the region. For instance, according to CDC 2022 report, approximately 25% of U.S. adults report LBP. Also, according to the Canadian Chiropractic Association 2018 data, five in 10 Canadians suffered low back pain.

Moreover, adoption of technologically advancement such as surgical robots for the spine surgery in the region is also expected to grow the spinal fusion devices market. For instance, in 2019, Medtronic launched the Mazor X Stealth(TM) Edition for Robotic-Assisted Spine Surgery. Also, rising spinal fusion surgery volume is also a factor that is anticipated to augment the spinal fusion devices in the region. According to a study: Predicting Trends in Cervical Spinal Surgery in the United States from 2020 to 2040 by Neifert S.N. et al., published in NCBI in the year 2020, it was expected that there would be an increase of 13.3% and 19.3% for anterior cervical discectomy and fusion (ACDF) and posterior cervical decompression and fusion (PCDF) from the year 2020-2040.

Additionally, presence of key market players such as Medtronic, Zimmer Biomet, and Orthofix among other and their strategic business development activities in the region is also a fuelling factor of the spinal fusion devices in the region. For instance, in September 2020, Orthofix Medical Inc. and Neo Medical SA, announced a partnership and investment agreement to develop and market innovative outcome-driven procedural solutions. The collaboration will focus on developing a cervical platform. Also, under the agreement, Orthofix will also exclusively distribute Neo Medical's disruptive value-based thoracolumbar procedure solutions to certain U.S. accounts.

The Asia-Pacific region has the future potential growth for the Global Spinal Fusion Devices. This is due to the rising burden of geriatric population in the region. Rapid urbanization, increase in disposable income, and growing healthcare awareness about are the factors that are likely to drive the market. In addition, increasing prevalence of spine fractures and degenerative disc disorders in the region and improving reimbursement policies for spine surgeries are also expected to surge the market. For instance, in April 2018, Australian Government announced changes to Medicare funded spinal surgery services by introducing new rules to ensure consistent and appropriate claiming.

Spinal Fusion Devices Market Key Players:

Some of the key market players operating in the Spinal Fusion Devices market includes Medtronic, Johnson & Johnson Services, Inc., Zimer Biomet, Stryker, B. Braun Melsungen AG, NuVasive®, Inc., Orthofix Medical Inc., XTANT MEDICAL, and others.

Recent Developmental Activities in the Spinal Fusion Devices Market:

In March 2022, Aurora Spine Corporation successfully launched its Proprietary SiLO(TM) Posterior SI Joint Fusion System.

In September 2020, Royal Biologics acquired FIBRINET. The acquisition comes as part of Royal Biologics' strategic initiative to add novel technologies to its growing portfolio of autologous and live cellular solutions to support orthopedic and spinal fusion.

In July 2020, Zavation Medical Products, LLC. launched Z-Span Expandable Anterior and Lateral Lumbar Plates.

Key Takeaways from the Spinal Fusion Devices Market Report Study

Market size analysis for current market size (2023), and market forecast for 5 years (2024-2030)

The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Spinal Fusion market.

Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years

Key companies dominating the Global Spinal Fusion Devices Market.

Various opportunities available for the other competitor in the Spinal Fusion Devices Market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for Spinal Fusion Devices market growth in the coming future?

Target Audience who can be benefited from Spinal Fusion Devices Market Report Study

Spinal Fusion Devices providers

Research organizations and consulting companies

Spinal Fusion-related organization, association, forum, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders in Spinal Fusion Devices

Various End-users who want to know more about the Spinal Fusion Devices Market and the latest technological developments in the Spinal Fusion Devices market.

Frequently Asked Questions for Spinal Fusion Devices Market:

1. What are Spinal Fusion Devices?

Spinal Fusion are devices connect two or more vertebrae in the spine to improve stability, correct a deformity or reduce pain.

2. What is the market for Global Spinal Fusion Devices?

Global Spinal Fusion Devices Market was valued at USD 6.49 billion in 2023, growing at a CAGR of 4.55% during the forecast period from 2024 to 2030 to reach USD 8.47 billion by 2030.

3. What are the drivers for Global Spinal Fusion Devices?

The major factors driving the demand for Spinal Fusion are the growing geriatric population coupled with the rising spine deformities, increasing demand for minimally invasive surgeries, and the launch of technically advanced products in the market.

4. What are the key players operating in Global Spinal Fusion Devices?

Some of the key market players operating in the Spinal Fusion Devices market includes Medtronic, Johnson & Johnson Services, Inc., Zimmer Biomet, Stryker, B. Braun Melsungen AG, NuVasive®, Inc., Orthofix Medical Inc., XTANT MEDICAL, and others.

5. What regions have the highest share in Spinal Fusion Devices market?

North America is expected to dominate the overall Spinal Fusion Devices market during the forecast period. This domination is due to the improved healthcare infrastructure, favourable reimbursement scenario in the region. Moreover, presence of key market players, and rising spinal fusion surgeries in the region is also expected to bolster the market.