Global spinal fusion devices market to become worth US$10,965.7 mn in 2015 at a CAGR of 4.65% from 2017 to 2025.
Albany, NY -- (SBWIRE) -- 12/28/2017 -- A new report, analyzing the performance and demand of spinal fusion devices market across the world have been recently publicized to the wide repository of Market Research Hub (MRH). The research study is titled as "Spinal Fusion Devices Market - Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2017 – 2025" which clearly states that the growth of the market is driven by increase in geriatric population and rise in incidence of spinal disorders. Also, the global spinal fusion devices market is expected to display moderate growth in the upcoming years.
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Spinal fusion devices are used for the treatment of spinal deformities such as degenerative disc disease and spondylolisthesis. 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 the country through 2050. This population is mostly susceptible to spine disorders and degenerative spine diseases, hence is expected to account for considerable demand for spinal fusion devices in future. As per the study key evaluations, the global spinal fusion devices market is assessed to become worth US$10,965.7 mn by 2025 in terms of revenue, expanding at a CAGR of 4.65% between 2017 and 2025.
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.
North America Anticipated to Remain Dominant
In order to understand market current scenario across the world, the report has been categorized on the basis of product type, surgery, end-user and region.
It has been analyzed by several studies that spinal fusion has become a very common surgical procedure in the United States over the past 10 years. This has led to a considerable rise in the number of spinal fusion procedures that are performed annually in the U.S. 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. Increasing focus on market players to introduce novel products and high level of awareness regarding treatments for spine disorders are the major reasons behind this region growth.
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On the basis of product type, the study covers Thoraco-lumbar fixation devices, cervical fixation devices, and interbody fusion devices. By surgery, it covers open surgery and minimally-invasive surgery. Out of these two, 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.
Major players in the spinal fusion devices market include Stryker Corporation, NuVasive, Inc., Globus Medical Inc., Titan Spine, LLC, Orthofix International N.V., B. Braun Melsungen AG, Zimmer Biomet Holdings, Inc., Medtronic plc, K2M Group Holdings, Inc., Alphatec Holdings, Inc., Exactech, Inc., Depuy Synthes (a part of Johnson & Johnson) among others.
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