PUBLISHER: Value Market Research | PRODUCT CODE: 1548001
PUBLISHER: Value Market Research | PRODUCT CODE: 1548001
The global demand for Spinal Fusion Devices Market is presumed to reach the market size of nearly USD 12.02 Billion by 2032 from USD 7.62 Billion in 2023 with a CAGR of 5.19% under the study period 2024-2032.
Spinal Fusion, also known as spondylodesis refers to the neurosurgical or orthopedic surgical procedure that joins vertebrae (two or more). This surgical technique prevents any movement between the fused vertebrae and can be performed at any level of the spine. Most commonly, spinal fusion surgical procedure is performed to relieve the pain and pressure on the spinal cord because of the degenerative disc disease. Other common pathological conditions that can be treated with spondylodesis surgical procedures are spinal fractures, spondylosis, and kyphosis. Therefore, the spinal fusion device refers to the devices used for treating such spinal deformities. The spinal fusion devices are categorized as thoracolumbar devices (lumbar plates, rods, hooks), cervical fixation devices (plates, clamps, wires), and interbody fusion devices (bone and non-bone).
The global spinal fusion devices market is estimated to grow by exhibiting a single-digit annual growth in the future. A rapidly rising global elderly population is the key factor driving for the growth of this market. The UN estimates that by the year 2050, 16% of the world's population will be over the age of 65. The geriatric population is more vulnerable to spinal cord injuries. This shows with the increase in the elderly population across the globe, the threat of spinal cord injury rises in succession, thereby boosting the demand for spinal fusion devices. However, the current COVID-19 situation may restrict spending abilities of people across the globe, which is likely to restraint the market demands.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Spinal Fusion Devices. The growth and trends of Spinal Fusion Devices industry provide a holistic approach to this study.
This section of the Spinal Fusion Devices market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Spinal Fusion Devices market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Spinal Fusion Devices market include Johnson & Johnson Services Inc. (DePuy Synthes), Stryker, Zimmer Biomet, Orthofix Medical Inc., B. Braun Melsungen AG, Medtronic, NuVasive Inc., Globus Medical, ATEC Spine Inc, Captiva Spine Inc, SeaSpine, Spinal Elements Inc., Spine Wave Inc., Spineology Inc., Xtant Medical Holdings Inc. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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