Home / Press Release / Global Spinal Fusion Market Expected to Grow At a CAGR of 5.8% During the Forecast Period

Global Spinal Fusion Market Expected to Grow At a CAGR of 5.8% During the Forecast Period

The latest market report published by Credence Research, Inc. “Spinal Fusion Market: Growth, Future Prospects, and Competitive Analysis, 2019 - 2027” the Spinal Fusion Market was valued at US$ 6,554.2 Mn in 2018 and expected to reach US$ 10,927.9 Mn by 2027 at a CAGR of 5.8% during the forecast period from 2019 to 2027. 

Market Insights 

The global spinal fusion market is developing productively from 2019 to 2027 accredited to the rise in open and minimally invasive procedures along with enhanced technology expansion worldwide in the field of spinal surgery. The U.S. contributed maximum revenue share in 2018. The market players in the U.S. continue to focus on research & development activities to innovate new applications along with advanced technology. Increasing geriatric population with spinal related disorders (spondylosis, degenerative scoliosis, deformity of the spine, spinal instability) and prevalence for spinal cord injuries will drive the market growth on a global scale. Worldwide, in between 250 000 and 500 000 people suffer a spinal cord injury every year. Increasing adoption of new products (plating systems, screws, rods, cages) in orthopedic clinics and hospitals will drive the demand. 

Top manufacturers are mainly focusing on new technology expansion in developing nations. Innovations in the minimally invasive techniques along with increased awareness will further spur revenue growth during the forecast period. For e.g. in June 27, 2017, DePuy Synthes Products, Inc. announced the acquisition of Sentio, LLC to enable innovation in minimally invasive spine surgery. On September 12, 2018, Johnson & Johnson Medical Devices Companies acquired Emerging Implant Technologies GmbH (manufacturer of 3D-printed titanium implants) to further expand its offering internationally. The domestic and local organizations have easy entree to this market, which makes it the biggest and most critical market for suppliers & providers. The increasing number of hospitals and orthopedic clinics segment expected to register the highest CAGR during the forecast period. Rising spinal surgical procedures in developed nations, adoption of new fusion devices, utilization of 3D printing technology, new product launches, and enhanced reimbursement structure will drive the market growth during the forecast period. 

Key Market Movements: 

Browse full report at https://www.credenceresearch.com/report/spinal-fusion-market

The Global Spinal Fusion Market is Segmented into:

ATTRIBUTE DETAILS
Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Million
Segmentation

 By Product Type (2017–2027; US$ Mn)

 By Procedure Type (2017–2027; US$ Mn)

 By End-User (2017–2027; US$ Mn)

 By Geography (2017–2027; US$ Mn)

*Complete segmentation list is on report page

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