Global Spinal Fusion Devices Market, by Device Type (Spinal Plating Systems, Interbody Cages, and Pedicle Screw Systems), by Procedure Type (Cervical Spine, Thoracic spine, and Lumbar Spine), by End User (Hospitals, Ambulatory Surgical Center, Orthopedic Center, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 9.175.04 Million in 2022 and is expected to exhibit a CAGR of 4.6% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Rapid product launches by key players of global spinal fusion devices market is expected to drive growth of market in over forecast period. For instance, in 2017, Zimmer Biomet Holdings, Inc. launched its Avenue T TLIF Cage in U.S. The Avenue T TLIF Cage system is indicated for intervertebral body fusion of the lumbar spine, from L2 to S1 spinal cord segment, in skeletally mature patients who have had six months of non-operative treatment.
Global Spinal Fusion Devices Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions.
However, the COVID-19 pandemic had a negative impact on the global spinal fusion devices market, owing to shortage of raw material for production of spinal fusion devices. For instance, on March 17 2022, the United States Food and Drug Administration (U.S. FDA) publishes a device shortage list to provide transparency to the population of the U.S., particularly those who use or purchase medical devices. The FDA found shortage in production of several devices such as implantable medical devices, non-implantable medical devices, and spinal fusion devices. Production of spinal fusion devices was hampered due to shortage of raw material used to manufacture spinal fusion devices. Due to Covid-19 lockdown import and export of raw material and commodities all over the world was restricted to prevent spreading of coronavirus.
Global Spinal Fusion Devices Market: Key Developments
In March 2022, the International Society for the Advancement of Spine Surgery addressed the issues involved with all aspects of basic and clinical science of motion preservation, stabilization, innovative technologies, Management Information Systems (MIS) procedures, biologics and other fundamental topics to restore and improve motion and function of the spine for, surgeons, scientists, inventors, and others. International Society for Advancement of Spine Surgery (ISASS) is for advancing major evolutionary steps in spine surgery. In this issue of Vertebral Columns, spine surgeons and their colleagues discuss reimbursement trends over the years, review the prone single-position approach to Lateral Lumbar Interbody Fusion (LLIF), debate the benefits of fusion for facet cysts, discuss the Barricaid annular closure device, highlight multimodal pain management strategies after spine surgery, and provide an update on the occurrence of hypermobility after cervical disc arthroplasty.
Browse 40 Market Data Tables and 46 Figures spread through 200 Pages and in-depth TOC on “Global Spinal Fusion Devices Market”- Forecast to 2030, Global Spinal Fusion Devices Market, by Device Type (Spinal Plating Systems, Interbody Cages, and Pedicle Screw Systems), by Procedure Type (Cervical Spine, Thoracic spine, and Lumbar Spine), by End User (Hospitals, Ambulatory Surgical Center, Orthopedic Center, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Spinal Fusion Devices Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/spinal-fusion-devices-market-1211
Moreover, due to increase in research and development in surgical navigation technology, the number of surgeries for spinal fusion performed increased. For instance, in January 2017, Koninklijke Philips N.V., announced new augmented-reality surgical navigation technology designed for image-guided spine, cranial and trauma surgery which uses high-resolution optical cameras mounted on the flat panel X-ray detector to image the surface of the spin cord of patient. Accordling, clear resolution of deformities in spine has made it convenient to carry out surgeries in correct manner.
Key Takeaways of the Global Spinal Fusion Devices Market:
- Global spinal fusion devices market is expected to exhibit a CAGR of 4.6% during the forecast period due to increasing adoption of inorganic strategies such as collaborations and agreements by key players in market for developing spinal fusion devices. For instance, on February 23 2022, OsteoCentric Technologies, the pioneer of mechanical integration, announced the execution of a private label agreement with Altus Spine which will propel their subsidiary, OsteoCentric Spine, LLC, into the pedicle screw fixation space. The agreement will allowed OsteoCentric to collaborate its mechanical integration technology platform, UnifiMITM, to an existing U.S. Food and Drug Administration (U.S.FDA)-cleared Spinal Fusion system. The company plans to collaborate with the spinal fusion market segment in February 2022, and introduce its advanced minimally invasive method of instantly securing Pedicle Fastener implants to bone. This new UnifiMI product launched announcing the company's acquisition of the Integrity-SITM Fusion System from Lincotek/Mayo Clinic in October 2021.
- North America is the dominant region in market and is expected to continue its dominance over the forecast period (2017 – 2030), owing to increasing prevalence of spinal disorders such as degenerative disc diseases, spinal fractures and trauma, and herniated discs. For instance, in December 2019, according to data published by National Center for Biotechnological Information, the annual incidence of spinal cord injury (SCI) in 2019, is approximately 54 cases per one million people in the U.S. or about 17,730 new SCI cases every year in the U.S.
- Major players operating in the global spinal fusion devices market include Zimmer Biomet Holdings, Inc., Stryker Corporation, Inc., Exactech, Inc., Orthofix International N.V., Globus Medical, Inc., NuVasive, Inc., Medtronic Plc., Depuy Synthes, B. Braun ,Melsungen AG, Wenzel Spine, Inc., K2M Group Holdings, Inc., Centinel Spine, Inc., and Spineart Geneva SA
