Spinal Fusion Devices Market to exceed US$ 12,993.25 million by 2030

    Published on 29-Sep-2023
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    Report : Spinal Fusion Devices Market Forecast (2022–2030), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Product Type (Thoracolumbar Devices, Cervical Fixation Devices, and Interbody Fusion Devices); Surgery Type (Open Spine Surgery and Minimally Invasive Spine Surgery); Disease Indications (Degenerative Disc, Trauma and Fractures, Complex Deformity, and Others); End User (Hospitals, Specialty Clinics, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)

    China is the Largest Share Holder in Asia Pacific for Spinal Fusion Devices Market

    According to our latest study on " Spinal Fusion Devices Market Size and Forecast to 2030 –Global Analysis – by Product Type, Surgery Type, Disease Indication, and End User," the market was valued at US$ 8,276.31 million in 2022 and is expected to reach US$ 12,993.25 million by 2030. The spinal fusion devices market is estimated to register a CAGR of 5.8% during 2022–2030. The report highlights a few key factors and trends impacting the spinal fusion devices market.

    The government of China has introduced various policies to support the development of medical devices, including spine surgery devices. These policies aim to improve product quality, promote domestic manufacturing, and ensure patient safety. Additionally, the government has been working on healthcare reforms to enhance access to healthcare services, which indirectly benefits the spine market by increasing the number of patients seeking treatment. The Chinese market has its own regulatory environment and unique considerations. Companies are focusing on entering the Chinese spinal surgery devices market. These companies need to comply with the country’s regulatory requirements, including registration and approval processes. For instance, in June 2023, the National Medical Products Administration (NMPA) issued the technical guidelines for the clinical evaluation of spinal fusion devices were issued by the, and according to these guidelines, spinal fusion devices were categorized under Class III medical devices.

    Moreover, with the increasing technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by introducing new technologies with better usability. For instance, in March 2021, Chinese authorities issued an approval for orthopedic surgical robot which carried out a spinal fusion surgery and a discectomy in a patient in Shenzhen.

    Similarly, Germany is the second largest market in Europe, and the growth is attributed to ongoing developments in the medical device industry. The spinal fusion devices market in Germany is likely to grow due to ongoing developments in the medical device industry in the country. The country has the presence of various medical device companies, majorly focusing on developing innovative devices for spine surgery. In June 2022, NGMedical GmbH launched its new ART Fixation System. The ART Fixation System was developed to help surgeons perform dorsal spinal stabilizations quickly and effectively. Further, there is an increase in the geriatric population suffering from degenerative discs and spinal degeneration due to wear and tear of the spinal cord. According to the World Bank collection of development indicators, in 2022, 22.41% of the population in Germany is aged above 65 years. In addition, the increasing incidence of spinal cord injuries in Germany is fueling the market growth. According to an article published by MDPI, the prevalence rate of traumatic spinal cord injury is ~500 per million inhabitants, and the incidence rate amounts to 13 per million.

    are DePuy Synthes Inc; Stryker Corp; B. Braun SE, ATEC Spine Inc; Globus Medical Inc; NuVasive Inc; ZimVie Inc; Medtronic Plc; Centinel Spine LLC, and Orthofix Medical Inc.are among the key players operating in the global spinal fusion devices market.

    The report segments the global spinal fusion devices market as follows:

    The spinal fusion devices market is segmented based on product type, surgery type disease indication, and end user. By product type, the spinal fusion devices market is bifurcated into thoracolumbar, cervical fixation, and interbody fusion devices. Based on surgery type, the market is segmented into minimally invasive spine surgery and open spine surgery. On the basis of disease indication, the spinal fusion devices market is categorized into degenerative disc, trauma and fractures, complex deformity, and others based on disease indication. Based on end user, the spinal fusion devices market is segmented into hospitals, specialty clinics, others. Geographically, the spinal fusion devices market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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