Spinal Fusion Market to be driven by Increase in geriatric population is expected to drive market expansion at a CAGR of 5.80% during the forecast period 2023 to 2032.

Market Research Future (MRFR) has published a cooked research report on the “Spinal Fusion Market” that contains information from 2018 to 2032. The Spinal Fusion Market is estimated to register a CAGR of 5.80% during the forecast period of 2023 to 2032.


MRFR recognizes the following companies as the key players in the global Spinal Fusion Market— Zimmer Biomet Holdings, Inc., Stryker Corporation, Inc., Exactech, Inc., Medtronic Plc, Johnson & Johnson Services, Inc (Depuy Synthes), Wenzel Spine, Inc., Centinel Spine, Inc., Spineart Geneva SA, K2M, Inc., MicroPort Scientific Corporation.


Market Highlights


The global Spinal Fusion Market is accounted to register a CAGR of 5.80% during the forecast period and is estimated to reach USD 16.27 billion by 2032.


The market is experiencing growth primarily due to the rising incidence of spinal cord injuries and an expanding geriatric population. The increasing prevalence of spinal deformities, attributed to a rise in road accidents, coupled with heightened health expenditure in developing nations, is anticipated to further boost the overall market demand for spinal fusion throughout the forecast period.


Segment Analysis


The global Spinal Fusion Market has been segmented based on the Product, Procedure, and End-User.

Based on the Product, the market is segmented into Interbody Cages, Pedicle Screws and Rods, and Spinal Fusion Plates. The Interbody Cages segment was attributed to holding the largest market share in 2022. This is attributed to the segment's availability of diverse materials, including titanium, stainless steel, polyether ether ketone (PEEK), and bio-absorbable materials. The increasing popularity of bio-absorbable materials, particularly poly-L-lactic acid, is notable due to their unique property of gradual absorption within the body over time. This eliminates the need for additional surgeries to remove implants after the bones have fully healed. Furthermore, bio-absorbable materials are unaffected by magnetic fields or the magnetic resonance (MR) effect, enhancing imaging capabilities. The heightened demand for minimally invasive procedures is driven by their reduced pain levels and quicker recovery times

Based on the Procedure, the Spinal Fusion Market has been segmented into Posterolateral Fusion and Interbody Fusion. The Interbody Fusion segment was expected to hold the largest market share in 2022. Interbody fusion has positioned itself as a pivotal element in the spinal fusion market due to its effectiveness in addressing various spinal disorders. Its unique capability allows physicians to access the space between spinal discs, facilitating the removal of damaged discs and the fusion of adjacent bones. The utilization of interbody implants, crafted from materials such as titanium or polyetheretherketone (PEEK), offers a stable framework for bone growth.

Based on the End-User, the Spinal Fusion Market has been segmented into Hospitals, Specialty Clinics, and Ambulatory Surgical Centres. The Hospitals segment was expected to hold the largest market share in 2022. The rise in the volume of spinal surgeries conducted in hospitals is a key driver for this segment. Government initiatives aimed at enhancing healthcare infrastructure, coupled with the expanding middle-class population in emerging economies like India, are contributing to a heightened demand for high-quality healthcare services provided by hospitals. This, in turn, is fostering growth within the segment.

 


Regional Analysis


The global Spinal Fusion Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Spinal Fusion Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Spinal Fusion Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Spinal Fusion Market comprises of Middle East, Africa, and Latin America.


The largest market share for the Spinal Fusion Market was maintained by the North American regional sector. The USA spinal fusion market has asserted its dominance on a global scale, and this leadership is anticipated to persist in the coming decades. The continual increase in the number of individuals grappling with lower back pain and other spinal conditions is a driving force behind this market's ascendancy. Orthopedic treatment stands out as one of the most prevalent, expensive, and swiftly growing segments within the U.S. healthcare landscape. In 2021, orthopedic treatment was availed by over one-third of the U.S. population, emerging as the costliest expense category for employer-based insurance enrollees and the second-largest category for Medicare beneficiaries. Within the United States, the annual prevalence of spinal cord injury (SCI) stands at approximately 54 incidences per million individuals, resulting in roughly 18,000 new SCI cases annually, according to the National Spinal Cord Injury Statistical Center's 2020 report. The projected number of individuals afflicted by SCI in the United States is estimated to be around 302,000, falling within a range of 255,000 to 383,000. Consequently, the escalating prevalence of spinal cord injuries is poised to drive the demand for spinal fusion devices, thereby supporting market growth.


Moreover, the Europe market has been persistently growing over the forecast period. Spine disorders (SD) and the associated pain pose significant medical, social, and economic challenges due to their widespread occurrence and the growing number of patients, particularly within the aging population. The majority of individuals with spinal disorders often experience pseudoradicular pain, a result of degenerative changes in the spine that affect intervertebral discs, facet joints, and soft tissues. For instance, an article published on PubMed in January 2021 highlighted that the observed prevalence of total hereditary neuromuscular disorders (HNMD) in the study exceeded hypothetical estimates derived from studies conducted across Europe.


In Asia Pacific, the market expansion can be attributed to a rise in medical tourism and government initiatives. Furthermore, the increasing target population in this region is elevating the susceptibility to spinal diseases and joint issues. In India, the market for spinal fusion devices is anticipated to witness profitable growth in the forecast period. This growth is driven by the upsurge in medical tourism to India for spinal fusion surgeries. Over the last five years, there has been a notable 15 to 20% increase in patient influx to India for spinal fusion surgeries, consequently driving demand. The increasing prevalence of obesity, diabetes, degenerative spinal disorders, and the growing acceptance of minimally invasive fusion procedures are anticipated to be the primary factors propelling market expansion over the forecast period. A study titled "Prevalence, Incidence, and External Causes of Traumatic Spinal Cord Injury in China: A Nationally Representative Cross-Sectional Survey," published in January 2022, estimates that approximately 759,302 individuals are living with severe spinal cord injuries, and 66,374 new cases of traumatic spinal cord injuries are identified annually in China. Consequently, these occurrences are expected to generate demand for spinal fusion devices in China, fostering market growth throughout the forecast period


Furthermore, the rest of the world's Spinal Fusion Market is divided into the Middle East, Africa, and Latin America. The regions are experiencing an increase in the prevalence of spinal disorders, leading to a rising demand for spinal fusion procedures. Factors such as sedentary lifestyles, aging populations, and a higher incidence of conditions like degenerative disc disease are fueling the necessity for spinal interventions. Notably, Africa stands out for its exceptionally young population in comparison to other global regions that are aging rapidly. In 2020, only 5.6% of Africa's population was aged 60 or older, contrasting with 23.4% in North America and double-digit percentages in every other part of the world. Over the next 30 years, it is projected that the number of African countries with more than a million older adults will increase to 36, with seven of them having at least 10 million older adults.


Key Findings of the Study



  • The global Spinal Fusion Market is expected to reach USD 16.27 billion by 2032, at a CAGR of 5.80% during the forecast period.

  • The Asia-Pacific region accounted for the fastest-growing global market because of the rising geriatric population, growing spinal disorders, and increasing incidence of sports injuries and fatal accidents.

  • Based on Product, the Interbody Cages segment was attributed to holding the largest market in 2022, with an approximate market share of 55–60%.

  • Zimmer Biomet Holdings, Inc., Stryker Corporation, Inc., Exactech, Inc., Medtronic Plc, Johnson & Johnson Services, Inc (Depuy Synthes), Wenzel Spine, Inc., Centinel Spine, Inc., Spineart Geneva SA, K2M, Inc., MicroPort Scientific Corporation


 


Explore In-depth Market Details [Table of Content, List of Figures, List of Tables] of Spinal Fusion Market Research Report

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Report details
Base Year 2021
Companies Covered 15
Pages 128
Certified Global Research Member
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