Spinal Fusion Devices Market

The global spinal fusion devices market is projected to reach USD 8.9 Billion by 2027 from USD 6.5 Billion in 2022, at a CAGR of 6.5% during the forecast period. The growth in the spinal fusion devices market is driven by the increasing prevalence of spinal disorders, rapid population expansion of target risk groups, and continued R&D funding from public/private organizations to develop novel spinal fusion methodologies. However, the unfavorable reimbursement scenario in emerging countries is a major restraining factor for optimal market growth during the coming decade.

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As of 2022, major players operating in the spinal fusion devices market include Zimmer Biomet Holdings, Stryker Corporation, Exactech, Globus Medical, NuVasive, Medtronic Plc, Captiva Spine, Centinel Spine, Johnson & Johnson, Orthofix International, Seaspine, Wenzel Spine, and B Braun Melsungen, among others.

Research Methodology

The study involved four major activities in estimating the current size of the spinal fusion devices market. Exhaustive secondary research was conducted to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.

Secondary Research

The secondary sources referred to in this research study include corporate filings (such as annual reports, SEC filings, investor presentations, and financial statements); research journals; and press releases; trade, business, and professional associations. Secondary sources were used to identify and collect helpful information for this extensive and commercial study of the spinal fusion devices market. Secondary research was mainly used to obtain critical information about the industry’s total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, market trends, and necessary developments by both the public and private organizations in the spinal fusion devices market.

The secondary sources for this research study include government, independent or public, paid/private, and research databases, among others. Secondary data was collected and analyzed to determine the overall market size of the spinal fusion devices market, further validated by primary research. Some of the critical secondary sources referred to during the preparation of this report are listed below-

• Governmental and inter-governmental sources & databases such as World Health Organization (WHO), World Bank, Organisation for Economic Co-operation and Development (OECD), and Centers for Disease Control and Prevention (CDC), among others.
• Business and research articles such as Springer Nature, The Lancet, PubMed, and the US National Library of Medicine, among others.
• Company sources include annual reports, SEC filings, regulatory filings, investor presentations, press releases, and financial statements.

Primary Research

Around 65% and 35% of primary interviews were conducted from the supply and demand sides. A robust primary research methodology has been adopted to validate the report's contents and fill gaps. Telephonic and e-mail communications were adopted to conduct interviews (questionnaires were designed and sent to primary participants at their convenience).

The spinal fusion devices market comprises several stakeholders, such as hospitals, orthopedics, and specialty clinics. This market's demand side is characterized by the growing incidence of spine disorders, the rapidly increasing geriatric population, and growing funding from public and private organizations. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the spinal fusion devices market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

• The key players in the industry and markets have been identified through extensive secondary research
• The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research
• All percentage shares split, and breakdowns have been determined using secondary sources and verified through primary sources

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the Spinal fusion devices market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides in the spinal fusion devices industry.

Report Objectives

• To define, describe, and forecast the spinal fusion devices market by product, surgery, end user, and region
• To provide detailed information about significant factors influencing the market growth (key drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze micromarkets1 concerning individual growth trends, prospects, and their contributions to the overall spinal fusion devices market
• To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
• To forecast the market value of various segments and sub-segments concerning five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
• To profile the key players active in the spinal fusion devices market and comprehensively analyze their global revenue shares and core competencies2
• To track and analyze competitive market-specific developments such as product approvals & commercialization, agreements, partnerships, collaborations, acquisitions, and expansions in the spinal fusion devices market

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Scope of the Report

This research report categorizes the spinal fusion devices market based on the type, by surgery, end user, and region

By Product

• Thoracolumbar Fusion devices
• Interbody thoracolumbar fusion devices
  • Anterior lumbar interbody fusion devices
  • Posterior lumbar interbody fusion devices
  • Transforaminal lumbar interbody fusion devices
  • Axial lumbar interbody fusion devices
  • Non-bone interbody fusion devices
  • Bone interbody fusion devices
• Anterior thoracolumbar fusion devices
• Cervical fusion devices
• Anterior cervical fusion devices
  • Anterior cervical plates  
  • Anterior cervical screw systems
  • Cervical interbody fusion devices
• Posterior cervical fusion devices
  • Posterior cervical plates  
  • Posterior cervical screws
  • Posterior cervical rods

By Surgery

• Minimal Invasive surgery
• Open surgery

By End User

• Hospitals and surgical centers
• Emergency and trauma centers
• Other end users

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • RoE
• Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
  • RoAPAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa

Available Customizations

With the given market data, MarketsandMarkets offers customizations per the company’s specific needs. The following customization options are available for the spinal fusion devices market report:

PRODUCT ANALYSIS

• Product Matrix, which gives a detailed comparison of the product portfolios of the top five global players

PRODUCT ANALYSIS

• Further breakdown of the Rest of Europe spinal fusion devices market into Russia, Portugal, Belgium, Denmark, Switzerland, and other European countries (aggregated)

COMPANY INFORMATION

• Detailed analysis and profiling of additional market players (up to 5 OEMs)

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