WASHINGTON, May 23, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Spinal Interbody Fusion Market finds that the increasing prevalence of spinal deformities is expediting market growth. Primarily driven by growing number of hospitals and ambulatory surgery centers, the total Global Spinal Interbody Fusion Market is estimated to reach USD 8.6 Billion by the year 2028.
The Global Market revenue stood at a value USD 7.1 Billion in the year 2021 and is forecasted to grow exhibiting a Compound Annual Growth Rate (CAGR) of 3.4%.
Furthermore, the growing government initiatives are also anticipated to augment the growth of the Global Spinal Interbody Fusion Market, states Vantage Market Research, in a report, titled “Spinal Interbody Fusion Market Size, Share & Trends Analysis Report by Type (Cervical Fixation Devices, Interbody Fusion Devices, Thoracolumbar Devices), by Surgery (Minimally Invasive Spine Surgery, Open Spine Surgery), by End User (Hospitals, Specialty Clinics, Others), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Market Dynamics:
Increasing Prevalence of Spinal Abnormalities to Drive the Market Growth
The increasing prevalence of spinal deformities are anticipated to augment the growth of the Spinal Interbody Fusion Market within the estimated period. This is owing to the rising geriatric population along with improper diet, nutrition and poor posture and fractures. According to the World Health Organization statistics, the proportion of the world's population aged 60 and up will nearly double from 12% to 22% between 2015 and 2050. By 2050, 80% of the world's elderly would live in low- and middle-income countries. The population is aging at a considerably higher rate than in the past. Every country faces significant hurdles in ensuring that their health and social systems are prepared to take advantage of this demographic change. This aged population is more prone to various disorders including spinal deformities owing to decrease in physical and mental capacity. This is expected to increase the demand for spinal inter body fusion treatments in the years to come.
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Spinal Interbody Fusion market is predicted to grow at a CAGR of roughly 3.4% during the forecast period.
- The Spinal Interbody Fusion market was estimated to be worth roughly USD 7.1 Billion in 2021 and is expected to reach USD 8.6 Billion by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Spinal Interbody Fusion market.
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Segmentation of the Global Spinal Interbody Fusion Market:
- Type
- Cervical Fixation Devices
- Interbody Fusion Devices
- Thoracolumbar Devices
- Surgery
- Minimally Invasive Spine Surgery
- Open Spine Surgery
- End User
- Hospitals
- Specialty Clinics
- Others
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Growing Number of Hospitals and Ambulatory Surgery Centers to Stimulate Market Growth
The increasing number of hospitals and ambulatory surgery centers is anticipated to augment the growth of the Spinal Interbody Fusion Market in the years to come. This is owing to the rising number of spinal surgeries that are done at hospitals. Furthermore, in developing countries like India, increasing government measures to improve healthcare infrastructure and increase in the middle-class population are resulting in increased demand for excellent healthcare services offered by hospitals, assisting market growth. Also, the use of ambulatory surgery centers also helps in reducing the costs required which is further likely to augment the growth of the market.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the healthcare industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The report on Spinal Interbody Fusion Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Asia Pacific to Witness Fastest Growth in the Global Spinal Interbody Fusion Market
Asia Pacific is expected to grow at a fastest Compound Annual Growth Rate (CAGR) during the forecast period and is likely to continue the same trend. This is attributable to the rising medical tourism in the region. Furthermore, increasing government initiatives along with rising healthcare expenditure in developing economies such as India and China is also likely to support the growth of the market. Additionally, the growing target population is also expected to support the regional growth of the market in near future.
List of Prominent Players in Spinal Interbody Fusion Market:
- Zimmer Biomet Holdings Inc.
- Alphatec Holdings Inc.
- B. Braun Melsungen AG
- Exactech Inc.
- Globus Medical Inc.
- Johnson & Johnson
- Medtronic PLC
- Nuvasive Inc.
- Orthofix International N.V.
- Stryker Corporation
Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on "Spinal Interbody Fusion Market Size, Share & Trends Analysis Report by Type (Cervical Fixation Devices, Interbody Fusion Devices, Thoracolumbar Devices), by Surgery (Minimally Invasive Spine Surgery, Open Spine Surgery), by End User (Hospitals, Specialty Clinics, Others), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/spinal-interbody-fusion-market-482753
Recent Developments:
April, 2022: Choice Spine LLC, a privately-held spinal device manufacturer based in Knoxville, TN, announced the launch of its next-generation Harrier SA ALIF System. Harrier SA provides surgeons an excellent Stand-Alone Solution for ALIF procedures.
December, 2021: Spine Wave announced the immediate launch of both the Defender Anterior Cervical Plate, and the Stronghold C 3D Titanium Interbody Device featuring Ti Cell 3D advanced surface technology.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Spinal Interbody Fusion Market?
- How will the Spinal Interbody Fusion Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Spinal Interbody Fusion Market?
- What is the Spinal Interbody Fusion market drivers and restrictions?
- What will be the CAGR and size of the Spinal Interbody Fusion Market throughout the forecast period?
This market titled “Spinal Interbody Fusion Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • Type ° Cervical Fixation Devices ° Interbody Fusion Devices ° Thoracolumbar Devices • Surgery ° Minimally Invasive Spine Surgery ° Open Spine Surgery • End User ° Hospitals ° Specialty Clinics ° Others • Region ° North America ° Europe ° Asia Pacific ° Latin America ° Middle East & Africa |
| Region & Counties Covered | • North America ° U.S. ° Canada ° Mexico • Europe ° U.K ° France ° Germany ° Italy ° Spain ° Rest Of Europe • Asia Pacific ° China ° Japan ° India ° South Korea ° South East Asia ° Rest Of Asia Pacific • Latin America ° Brazil ° Argentina ° Rest Of Latin America • Middle East & Africa ° GCC Countries ° South Africa ° Rest Of Middle East & Africa |
| Companies Covered | • Zimmer Biomet Holdings Inc. • Alphatec Holdings Inc. • B. Braun Melsungen AG • Exactech Inc. • Globus Medical Inc. • Johnson & Johnson • Medtronic PLC • Nuvasive Inc. • Orthofix International N.V. • Stryker Corporation |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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