Spinal Fusion Device Market (By Product: Thoracolumbar Devices, Cervical Fixation Devices; By Disease Type: Degenerative Disc, Complex Deformity, Trauma & Fractures, Others; By Surgery: Open spine surgery, Minimally Invasive Spine Surgery; By End-user: Hospitals, Specialty Clinics, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 20212030

The global Spinal Fusion Device market size is expected to be worth around US$ 18.8billion by 2030, according to a new report by Vision Research Reports.

The global Spinal Fusion Device market size was valued at US$ 10.3 billion in 2020 and is anticipated to grow at a CAGR of 8.4% during forecast period 2021 to 2030.

Growth Factors

The increasing number of spinal-related disorders and technological advancement in spinal fusion surgeries are boosting the market growth. The market experienced a slight decrease in growth rate in 2020 due to delays or cancellations of elective surgeries.

Increasing numbers of spinal disorders and the growing geriatric population are boosting the market growth. According to the CDC report, around 34.0% of the adult population and 62.0% of the elderly population got affected by spinal deformities as of 2020. The common causes of spinal fusion injuries are found to be trauma, falls, collisions, or road traffic accidents.

Nuvasive reported a decrease in the revenue by 5.4% in 2020 Q1 as compared to 2020 Q1. However, the market experienced recovery during the 3rd quarter of 2020 due to the ease of lockdown and resumption of surgeries. In May 2021, Orthofix received FDA 510 (k) clearance for the Forza Ti spacer system for transforaminal lumbar interbody fusion procedures. In March 2021, ATEC launched the InVictus Occipital-Cervical-Thoracic Spinal Fixation System to enhance the spine portfolio. The aforementioned factors are expected to boost market revenue over the forecast period. 

Report Highlights

 The thoracolumbar devices segment dominated the market for spinal fusion devices and accounted for the largest revenue share of more than 65.0% in 2020. The increasing incidence of spinal disorders such as spinal stenosis, excessive kyphosis, and vertebral fracture is further driving the segment. In most of these cases, surgery is the only treatment option. Moreover, fractures in the thoracolumbar area can be the most important reason for surgical intervention. These fractures are either caused by road accidents or bone insufficiency. Bone insufficiency is caused for the reason of underlying settings such as osteoporosis and tumors that eventually weaken the bone and cause fractures.

The degenerative disc segment dominated the market for spinal fusion devices and accounted for the largest revenue share of over 52.0% in 2020. Growing reasons for lower back pain and neck pain in adults and an upsurge in elderly population are the major aspects driving the segment. In addition, rise in sports and daily activities is expected to augment segment growth.

The complex deformity segment is expected to grow fast in the market for spinal fusion devices over the forecast period. The demographics of the elderly population in the U.S. are experiencing a fundamental shift as medical care improvements and life expectancy increases. Moreover, the baby boomers represent the fastest rising demographic in the U.S and the number of individuals 65 years and elder are projected to reach 89 million by 2050, more than double its existing size which is further boosting the revenue.

The minimally invasive surgery segment dominated the market for spinal fusion devices and accounted for the largest revenue share of 74.0% in 2020 as it’s the first preference for spinal fusion surgeries. According to a survey in 2020 in the U.S., the 3 most significant parameters for patients when selecting between MIS and open surgery were: surgeon's recommendation, complication risk, and long-term outcomes. When compared with MIS surgery, most patients experienced open surgery to be more painful, increased complication risk, increased recovery time, and need heavier sedation. Besides, if required to have spine surgery in the future, most of both patient groups would choose a minimally invasive approach. The aforementioned factors are expected to propel the revenue over the forecast period.

The hospitals dominated the market for spinal fusion devices and accounted for the largest revenue share of over 67.0% in 2020. The growing number of spinal surgeries performed at hospitals is one of the factors driving the segment. Growing government initiatives to improve the healthcare infrastructure and expanding the middle-class population in developing nations such as India are resulting in increasing demand for quality healthcare services delivered by hospitals, thereby aiding segment growth.

The specialty clinics segment is expected to grow fast in the market for spinal fusion devices over the forecast period. The popularity of these clinics is increasing over years. With the need for improved access to care, numerous types of specialty clinics have come to market over the last two decades. In addition, the increasing demand for better healthcare services has opened scope for new opportunities in delivering affordable healthcare services. Specialty clinics would mainly help in bridging the gap between the demand and supply of healthcare services and facilities by providing superior care. Hence, the aforementioned factors will support segment growth during the forecast period.

North America dominated the spinal fusion devices market and accounted for the largest revenue share of over 51.0% in 2020. The rising geriatric population, growing spinal disorder and increasing incidence of sports injuries and fatal accidents are among key factors boosting the demand for spinal fusion devices in North America.

Key Players 

• Johnson & Johnson Services, Inc. (DePuy Synthes)

• Stryker

• Zimmer Biomet

• Orthofix Medical, Inc.

• B. Braun Melsungen AG

• Medtronic

• NuVasive, Inc.

• Globus Medical

• ATEC Spine, Inc

• Captiva Spine, Inc

• SeaSpine

• Spinal Elements, Inc.

• Spine Wave, Inc.

• Spineology, Inc.

• Xtant Medical Holdings, Inc.

Market Segmentation

• Product Outlook

  • Thoracolumbar Devices    

    • Anterior Lumbar Plates

    • Pedicle Screw and Rods

    • Others

  • Cervical Fixation Devices  

    • Anterior Cervical Plates

    • Hook Fixation Systems

    • Others

  • Interbody Fusion Devices 

• Disease Type Outlook 

  • Degenerative Disc

  • Complex Deformity

  • Trauma & Fractures

  • Others

• Surgery Outlook 

  • Open spine surgery

  • Minimally Invasive Spine Surgery

• End-user Outlook 

  • Hospitals

  • Specialty Clinics

  • Others

• Regional Outlook

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

The Spinal Fusion Device market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Spinal Fusion Device market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Spinal Fusion Device market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Spinal Fusion Device market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Spinal Fusion Device market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Spinal Fusion Device capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Spinal Fusion Device by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Spinal Fusion Device market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Spinal Fusion Device market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Spinal Fusion Device market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Spinal Fusion Device industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Spinal Fusion Device market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Spinal Fusion Device market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Spinal Fusion Device market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Spinal Fusion Device market. These factors have benefited the growth of the global market for Spinal Fusion Device. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Spinal Fusion Device. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Spinal Fusion Device are as follows:

• History Year: 2017-2020

• Base Year: 2021

• Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.