Published on : Jun 26, 2018
Albany, New York, June 26, 2018: There has been an exponential increase of spine fusions being done across the world in recent years. Market Research Hub (MRH) has publicized a new study to its massive online repository, which is titled as “Global Spinal Fusion Market: By Procedure - Traditional (ALIF, PLIF, Others), Minimally Invasive (MITLIF, XLIF, Others), By Region, By Country (2018 Edition)-Forecast to 2023” and delivers comprehensive evaluation of the market by presenting the value (US$ Mn) and volume (Kilo Tons) forecasts for the period 2018 to 2023. Further, a deep analysis of the major players from diverse regions is also present in the report. North America, Europe, Asia Pacific and Rest of the World are analyzed based on regional market dynamics and forecast by key countries.
Major Highlights from the Study
Presently, spinal fusion has become a very common surgical procedure. It is the only procedure that allows vertebrae to merge together, can be performed on different areas of the back - the cervical region, the thoracic part and the lumbar section. Over the recent years, global spinal fusion market has been perceiving growth, on the back of several driving influences including rising healthcare awareness amongst consumers, surging prevalence of spinal deformities due to accidents along with increasing health expenditure in developing countries. Analysts have evaluated that global market is projected to display a modest growth represented by a CAGR of 4.54% during the mentioned forecast period of 2018-2023.
This report begins with the market definition, followed by definitions of the different spinal fusion product types. Then after, the market dynamics section includes analysis of key trends, drivers, restraints, opportunities and macro-economic factors influencing the growth of the global spinal fusion market. The analysts of the report reveal that in the coming years, the ongoing demographic shift towards the geriatric population with a significant population suffering from inveterate spinal ailments is expected to boost the demand for spinal fusion surgeries.
Moreover, the study analyzed market opportunities by highlighting its several major segments such as procedure type into Anterior Lumbar Interbody Fusion (ALIF), Posterior Lumbar Interbody Fusion (PLIF), Other traditional techniques, Minimally Invasive Transforaminal Lumbar Interbody Fusion (TLIF), Extreme Lateral Interbody Fusion (XLIF) and Other Minimally Invasive Spinal Fusion Techniques. Amongst, minimally invasive procedures is anticipated to witness the highest growth rate, as per the research.
From a geographical standpoint, the study finds that the Asia Pacific is predicted to advance at the maximum rate. Presence of vast consumer base, and growing per capita expenditure on healthcare is likely to drive the regional market.
The final section discusses the competitive landscape of the global spinal fusion market. Under this section, a precise overview of the vendor ecosystem, as well as profiles of the key players functioning in the global market, company share analysis, SWOT analysis, and Porter's five forces analysis has been available to the readers. Key players profiled in the study include Medtronic, Stryker Corporation, Zimmer Biomet, Orthofix International, NuVasive, Inc., Globus Medical, K2M Group Holdings Inc., Alphatec Spine, DePuy Synthes, Aesculap Implant Systems, LLC.
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