Global spinal fusion devices market garnered $5,867 million in 2015, and is expected to reach $7,435 million by 2022, registering a CAGR of 3.4% from 2016 to 2022.

Portland, OR -- (SBWire) -- 08/30/2017 --Spine fusion devices are used for treatment of disorders related to the spine. These devices are used for restoration of the functionality and maintenance of the regular alignment of the spine. Spine fusion devices are segmented into cervical fixation devices, thoracolumbar devices, and interbody fusion devices.

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The growth in the global spinal fusion devices market is fueled by factors including rise in incidence of spinal disorders and advent of minimally invasive spine surgery techniques. Moreover, rise in geriatric population is estimated to raise the demand for spinal fusion devices across the world. Moreover, cumbersome regulatory approval process and unfavorable reimbursement scenario would limit the market growth.

The thoracolumbar fusion devices segment garnered the highest revenue in the global industry, and contributed for more than two-fifth share of the global market. Moreover, the interbody fusion devices segment would register a CAGR of 3.6% throughout the forecast period.

Key Findings of the Spinal Fusion Devices Market:

- The interbody fusion devices segment would register a CAGR of 3.6% for the forecast period, owing to less post-operative discomfort after spinal fusion.

- The non-bone interbody fusion devices segment contributed for more than two-third share of the global market in 2015.

- France and Germany together constituted for around two-fifth of share in the European spinal fusion devices market in 2015.

- Japan contributed the major market share in the Asia-Pacific spinal fusion devices market, constituting for around one-third share in 2015.

- The spinal fusion market in India is expected to register a CAGR of 6.2% throughout the forecast period.

North America contributed to the major revenue share in 2015, and is estimated to maintain its position throughout the forecast period. However, the Asia-Pacific region would grow at rapid pace, growing at a CAGR of 4.6% for the forecast period. Enhancement in healthcare infrastructure and rise in expenditures in the emerging markets including India and China to fulfill unmet medical needs have fostered the market growth.

The key players operating in the spinal fusion devices market have aimed at expansion of their business operations in the rapidly growing economies by adoption of the product launch strategy. The major market players profiled in the reserch include Alphatec Holdings, Inc., Depuy Synthes (Johnson & Johnson), B. Braun Melsungen AG, Globus Medical, Inc., Exactech, Inc., NuVasive, Inc., Medtronic plc, Stryker Corporation, Orthofix International N.V., and Zimmer Biomet Holdings, Inc.

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