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Spinal Fusion Devices Market Set to reach USD 15.05 billion by 2032, Grow at a 5.50% CAGR During Forecast to 2032

Apr 16, 2024 5:00 PM ET

Spinal Fusion Devices Market Set to reach USD 15.05 billion by 2032, Grow at a 5.50% CAGR During Forecast to 2032

Spinal Fusion Devices Market Research Report Information By Product (Thoracolumbar Devices, Cervical Fixation Devices and Interbody Fusion Devices), By Disease Type (Degenerative Disc, Complex Deformity, Trauma & Fractures and Others), By Surgery (Open Spine Surgery and Minimally Invasive Spine Surgery) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

The Spinal Fusion Devices Market will rise from USD 9.811 billion in 2023 to USD 15.05 billion by 2032, at an impressive rate of 5.50% from 2023 to 2032.

There has been a gradual increase in the frequency of spine fusion procedures in recent years. Spinal fusion, also known as spinal arthrodesis, is a surgical operation that involves joining together two or more vertebral bodies in the vertebral column. Furthermore, the increase in knowledge and identification of spinal problems has a substantial impact on the market dynamics. Improved diagnostic capabilities, along with increased awareness among both physicians and patients, result in the prompt detection of spinal problems. Early detection frequently leads to proactive medical measures, such as spinal fusion surgeries utilizing advanced technologies.

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As people become more aware of the importance of spinal health through awareness campaigns and education, there is likely to be an increase in the number of individuals seeking prompt medical treatments. This will lead to a higher demand for spinal fusion devices. The spinal fusion operation is conducted to address degenerative disc disease, aberrant spinal curvatures, spondylolisthesis, and other related conditions. The growing elderly population and the rise in spine injuries have led to an increase in the frequency of spinal fusion surgeries.

Major key manufacturers are integrating various technologies, which is having a beneficial impact on the market for spinal arthrodesis devices. Robotic-assisted spinal fusion surgery and minimally invasive spine fusion devices are revolutionizing the treatment of patients with spine illnesses. Moreover, the rising healthcare spending and improved availability of sophisticated medical therapies contribute to the expansion of the market. With the enhancement of healthcare infrastructures and the allocation of financial resources towards new medical interventions, individuals now have increased accessibility to spinal fusion procedures. The ease of access to spinal fusion devices, along with an increasing comprehension of their advantages, encourages their use in treating different spinal disorders.

Key Players

MRFR recognizes the following companies as the key players in the global Spinal Fusion Devices Market— Stryker, Xtant Medical Holdings, Inc.Zimmer Biomet, DePuy Synthes, B. Braun Melsungen AG, Medtronic, NuVasive, Inc., Orthofix Medical, Inc., Globus Medical, ATEC Spine, Inc

Browse In-depth Market Research Report (128 Pages) on Spinal Fusion Devices:

Market Segmentation

By Product, the market includes Thoracolumbar Devices, Cervical Fixation Devices, and Interbody Fusion Devices. By Disease Type, the market includes Degenerative Discs, Complex Deformity, Trauma, and Fractures. By Surgery, the market includes Open Spine Surgery and Minimally Invasive Spine Surgery.

Regional Analysis

The North American Spinal Fusion Devices market area is the leading force in this market because of its modern healthcare infrastructure, high occurrence of spinal illnesses, and a strong emphasis on technical advancements. The combination of decreasing birth rates and increasing life expectancy is causing rapid aging in populations worldwide, with a particular impact in the United States, Japan, and Western Europe. In addition, the region experiences market development because of its well-established reimbursement policies, a growing aging population, and a proactive approach to spinal health.

The European market for spinal fusion devices holds the second-largest share due to the increasing prevalence of spinal problems, a growing elderly population, and the adoption of modern healthcare technologies. Countries such as India are constructing additional medical facilities, hence increasing access to quality healthcare for a larger population. Enhancements in healthcare infrastructure have broadened the availability of sophisticated surgical techniques such as spinal fusion.

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