The global spinal fusion device size was exhibited at USD 6.50 billion in 2023 and is projected to hit around USD 10.19 billion by 2033, growing at a CAGR of 4.6% during the forecast period 2024 to 2033.
Key Takeaways:
Spinal Fusion Device Market Report Scope
Report Coverage | Details |
Market Size in 2024 | USD 6.50 Billion |
Market Size by 2033 | USD 10.19 Billion |
Growth Rate From 2024 to 2033 | CAGR of 4.6% |
Base Year | 2023 |
Forecast Period | 2024-2033 |
Segments Covered | Product, Disease Type, Surgery, End-User, Region |
Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
Regional Scope | North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
Key Companies Profiled | Johnson & Johnson Services, Inc. (DePuy Synthes); Stryker; Zimmer Biomet; Orthofix Medical, Inc.; B. Braun Melsungen AG; Medtronic; NuVasive, Inc.; Globus Medical; ATEC Spine, Inc; Captiva Spine, Inc; SeaSpine; Spinal Elements, Inc.; Spine Wave, Inc.; Spineology, Inc.; Xtant Medical Holdings, Inc. |
Increasing numbers of spinal disorders and the growing geriatric population are boosting the market growth. According to the CDC report, around 34.0% of the adult population and 62.0% of the elderly population got affected by spinal deformities as of 2022. The common causes of spinal fusion injuries are found to be trauma, falls, collisions, or road traffic accidents.
The impact of the COVID-19 pandemic has been witnessed in nearly every industry. Like other healthcare markets, the market for spinal fusion devices has also been significantly affected. COVID-19 has led to postponed or deferred elective surgeries, a decline in sales, and dampened growth rate, among others. The decrease in surgical procedures drastically reduced the demand for devices and products required for spinal fusion. Although urgent and emergent surgeries were performed, there was a steep decline in the total number of procedures. Shortage of ICU beds and surgical rooms has been reported. Industry players witnessed slow growth and low net sales in the first two quarters of 2023.
After the initial impact of the pandemic, companies and governments started undertaking corrective actions to help the economy and businesses recover. These measures included policy and monetary stimuli, easing of restrictions, conditional exemptions, and other strategic initiatives. By Q3 2023, many companies reported recovery in sales with positive projections for the future. For instance, Stryker's spine segment revenue reported double-digit growth of 11.3% in 2021 Q1 as compared to 2023.
Product Insights
The thoracolumbar devices segment dominated the market for spinal fusion devices and accounted for the largest revenue share of more than 55.0% in 2023. The increasing incidence of spinal disorders such as spinal stenosis, excessive kyphosis, and vertebral fracture is further driving the segment. In most of these cases, surgery is the only treatment option. Moreover, fractures in the thoracolumbar area can be the most important reason for surgical intervention. These fractures are either caused by road accidents or bone insufficiency. Bone insufficiency is caused for the reason of underlying settings such as osteoporosis and tumors that eventually weaken the bone and cause fractures.
The cervical segment is expected to grow fast in the market for spinal fusion devices over the forecast period owing to the rise in prevalence of cervical spondylosis in corporate professionals. Cervical spondylosis is a common disorder that is projected to account for 2% of all hospital admissions in the U.S. It is the most recurrent cause of spinal cord dysfunction in patients elder than 55 years. Based on radiologic findings, 90% of women elder than 60 years and 90% of men elder than 50 years have evidence of degenerative changes in the cervical spine, which is expected to support segment growth in the coming years.
Disease Type Insights
The degenerative disc segment dominated the market for spinal fusion devices and accounted for the largest revenue share of over 42.0% in 2023. Growing reasons for lower back pain and neck pain in adults and an upsurge in elderly population are the major aspects driving the segment. In addition, rise in sports and daily activities is expected to augment segment growth.
The complex deformity segment is expected to grow fast in the market for spinal fusion devices over the forecast period. The demographics of the elderly population in the U.S. are experiencing a fundamental shift as medical care improvements and life expectancy increases. Moreover, the baby boomers represent the fastest rising demographic in the U.S. and the number of individuals 65 years and elder are projected to reach 89 million by 2050, more than double its existing size which is further boosting the revenue.
Surgery Insights
The minimally invasive surgery segment dominated the market for spinal fusion devices and accounted for the largest revenue share of 64.0% in 2023 as it’s the first preference for spinal fusion surgeries. According to a survey in 2022 in the U.S., the 3 most significant parameters for patients when selecting between MIS and open surgery were: surgeon's recommendation, complication risk, and long-term outcomes. When compared with MIS surgery, most patients experienced open surgery to be more painful, increased complication risk, increased recovery time, and need heavier sedation. Besides, if required to have spine surgery in the future, most of both patient groups would choose a minimally invasive approach. The aforementioned factors are expected to propel the revenue over the forecast period.
End-user Insights
The hospitals dominated the market for spinal fusion devices and accounted for the largest revenue share of over 60.0% in 2023. The growing number of spinal surgeries performed at hospitals is one of the factors driving the segment. Growing government initiatives to improve the healthcare infrastructure and expanding the middle-class population in developing nations such as India are resulting in increasing demand for quality healthcare services delivered by hospitals, thereby aiding segment growth.
The specialty clinics segment is expected to grow fast in the market for spinal fusion devices over the forecast period. The popularity of these clinics is increasing over years. With the need for improved access to care, numerous types of specialty clinics have come to market over the last two decades. In addition, the increasing demand for better healthcare services has opened scope for new opportunities in delivering affordable healthcare services. Specialty clinics would mainly help in bridging the gap between the demand and supply of healthcare services and facilities by providing superior care. Hence, the aforementioned factors will support segment growth during the forecast period.
Regional Insights
North America dominated the spinal fusion devices market and accounted for the largest revenue share of over 43.0% in 2023. The rising geriatric population, growing spinal disorder and increasing incidence of sports injuries and fatal accidents are among key factors boosting the demand for spinal fusion devices in North America. In addition, the presence of well-established healthcare infrastructure is expected to propel market growth in the region. Moreover, developments by key players are expected to boost market growth with huge untapped opportunities. In April 2022, Orthofix launched M6-C artificial cervical disc, the first commercial implant to increase its market penetration.
In Asia Pacific, the market for spinal fusion devices is expected to grow fast over the forecast period. The growth can be attributed to an increased number of medical tourism and government initiatives. Moreover, the growing target population in this region is further increasing the risk of spinal diseases and joint problems. In India, the market for spinal fusion devices is expected to show lucrative growth over the forecast period. The growth can be attributed to increased medical tourism in India for spinal fusion surgeries. There has been a 15 to 20% increase in the patient footfall in India for spinal fusion surgeries in the last 5 years, thus propelling demand.
Some of the prominent players in the Spinal fusion device include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the global spinal fusion device.
Product
Disease Type
Surgery
End-user
By Region
Chapter 1 Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2 Executive Summary
2.1 Market Outlook
Chapter 3 Spinal Fusion Devices Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook
3.1.2 Ancillary Market Outlook
3.2 Penetration and Growth Prospect Mapping
3.3. Spinal Fusion Devices Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.4. Spinal Fusion Devices Industry Analysis - Porter’s
3.4.1. Supplier Power
3.4.2. Buyer Power
3.4.3. Substitution Threat
3.4.4. Threat of New Entrants
3.4.5. Competitive Rivalry
3.5. Spinal Fusion Devices Industry Analysis - PEST
3.5.1. Political & Legal Landscape
3.5.2. Economic Landscape
3.5.3. Social Landscape
3.6 Reimbursement Scenario
3.7 Technology Overview
Chapter 4 Covid-19 Impact Analysis
4.1 COVID-19 Outbreak
4.2 Strategies Adopted by Market Players
Chapter 5 Spinal Fusion Devices Market - Competitive Analysis
5.1 Recent Developments & Impact Analysis, By Key Market Participants
5.2 Company/Competition Categorization (Key innovators, Market leaders, Emerging Players)
5.3 Public Companies
5.3.1 Company market share/position analysis
5.3.2 Competitive dashboard analysis
5.3.3 Synergy Analysis: Major Deals & Strategic Alliances
5.4 Private Companies
5.4.1 List of key emerging companies
Chapter 6 Spinal Fusion Devices Market: Product Estimates & Trend Analysis
6.1 Product Movement Analysis & Market Share, 2024 & 2030
6.2. Market Size & Forecasts and Trend Analysis, 2021 to 2033 for the following:
6.3 Thoracolumbar Devices
6.3.1 Thoracolumbar Devices Market, 2021 to 2033
6.3.2 Anterior Lumbar Plates
6.3.2.1 Anterior Lumbar Plates Market, 2021 to 2033
6.3.3 Pedicle Screw and Rods
6.3.3.1 Pedicle Screw and Rods Market, 2021 to 2033
6.3.4 Others
6.3.4.1 Others Market, 2021 to 2033
6.4 Cervical Fixation Devices
6.4.1 Cervical Fixation Devices Market, 2021 to 2033
6.4.2 Anterior Cervical Plates
6.4.2.1 Anterior Cervical Plates Market, 2021 to 2033
6.4.3 Hook Fixation Systems
6.4.3.1 Hook Fixation Systems Market, 2021 to 2033
6.4.4 Others
6.4.4.1 Others Market, 2021 to 2033
6.5 Interbody Fusion Devices
6.5.1 Interbody Fusion Devices Market, 2021 to 2033
Chapter 7 Spinal Fusion Devices Market: Disease Type Estimates & Trend Analysis
7.1 Disease Type Movement Analysis & Market Share, 2024 & 2030
7.2 Market Size & Forecasts and Trend Analysis, 2021 to 2033 for the following:
7.3 Degenerative Disc
7.3.1 Degenerative Disc Market, 2021 to 2033
7.4 Complex Deformity
7.4.1 Complex Deformity Market, 2021 to 2033
7.5 Trauma & Fractures
7.5.1 Trauma & Fractures Market, 2021 to 2033
7.6 Others
7.6.1 Others Market, 2021 to 2033
Chapter 8 Spinal Fusion Devices Market: Surgery Estimates and Trend Analysis
8.1 Surgery Type Analysis & Market Share, 2024 & 2030
8.2 Market Size & Forecasts and Trend Analysis, 2021 to 2033 for the following:
8.3 Open spine surgery
8.3.1 Open spine surgery Market, 2021 to 2033
8.4 Minimally Invasive Spine Surgery
8.4.1 Minimally Invasive Spine Surgery Market, 2021 to 2033
Chapter 9 Spinal Fusion Devices Market: End-User Estimates and Trend Analysis
9.1 End User Type Movement Analysis & Market Share, 2024 & 2030
9.2 Market Size & Forecasts and Trend Analysis, 2021 to 2033 for the following:
9.3 Hospitals
9.3.1 Hospitals Market, 2021 to 2033
9.4 Specialty Clinics
9.4.1 Specialty Clinics Market, 2021 to 2033
9.5 Others
9.5.1 Others Market, 2021 to 2033
Chapter 10 Spinal Fusion Devices Market: Regional Estimates & Trend Analysis
10.1 Regional Market Snapshot
10.2 Regional Movement Analysis & Market Share, 2024 & 2030
10.3 North America
10.3.1 North America Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.3.2 U.S.
10.3.2.1 U.S. Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.3.3 Canada
10.3.3.1 Canada Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.4 Europe
10.4.1 Europe Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.4.2 U.K.
10.4.2.1 U.K. Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.4.3 Germany
10.4.3.1 Germany Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.4.4 France
10.4.4.1 France Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.4.5 Italy
10.4.5.1 Italy Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.4.6 Spain
10.4.6.1 Spain Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.5 Asia Pacific
10.5.1 Asia Pacific Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.5.2 Japan
10.5.2.1 Japan Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.5.3 China
10.5.3.1 China Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.5.4 India
10.5.4.1 India Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.6 Latin America
10.6.1 Latin America Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.6.2 Mexico
10.6.2.1 Mexico Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.6.3 Brazil
10.6.3.1 Brazil Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.6.4 Argentina
10.6.4.1 Argentina Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.7 Middle East and Africa
10.7.1 Middle East and Africa Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.7.2 South Africa
10.7.2.1 South Africa Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
10.7.3 Saudi Arabia
10.7.3.1 Saudi Arabia Spinal Fusion Devices Market estimates and forecasts, 2021 - 2033
Chapter 11 Company Profiles
11.1 Johnson & Johnson Services, Inc. (DePuy Synthes)
11.1.1 Company overview
11.1.2 Financial performance
11.1.3 Product benchmarking
11.1.4 Strategic initiatives
11.2 Stryker
11.2.1 Company overview
11.2.2 Financial performance
11.2.3 Product benchmarking
11.2.4 Strategic initiatives
11.3 Zimmer Biomet
11.3.1 Company overview
11.3.2 Financial Performance
11.3.3 Product benchmarking
11.3.4 Strategic initiatives
11.4 Orthofix Medical, Inc.
11.4.1 Company overview
11.4.2 Financial Performance
11.4.3 Product benchmarking
11.4.4 Strategic initiatives
11.5 B. Braun Melsungen AG
11.5.1 Company overview
11.5.2 Product benchmarking
11.5.3 Strategic initiatives
11.6 Medtronic
11.6.1 Company overview
11.6.2 Financial Performance
11.6.3 Product benchmarking
11.6.4 Strategic initiatives
11.7 NuVasive, Inc.
11.7.1 Company overview
11.7.2 Financial Performance
11.7.3 Product benchmarking
11.7.4 Strategic initiatives
11.8 Globus Medical
11.8.1 Company overview
11.8.2 Financial Performance
11.8.3 Product benchmarking
11.8.4 Strategic initiatives
11.9 ATEC Spine, Inc
11.9.1 Company overview
11.9.2 Financial performance
11.9.3 Product benchmarking
11.9.4 Strategic initiatives
11.10 Captiva Spine, Inc
11.10.1 Company overview
11.10.2 Financial performance
11.10.3 Product benchmarking
11.10.4 Strategic initiatives
11.11 SeaSpine
11.11.1 Company overview
11.11.2 Financial performance
11.11.3 Product benchmarking
11.11.4 Strategic initiatives
11.12 Spinal Elements, Inc.
11.12.1 Company overview
11.12.2 Financial performance
11.12.3 Product benchmarking
11.12.4 Strategic initiatives
11.13 Spine Wave, Inc.
11.13.1 Company overview
11.13.2 Financial performance
11.13.3 Product benchmarking
11.13.4 Strategic initiatives
11.14 Spineology, Inc.
11.14.1 Company overview
11.14.2 Financial performance
11.14.3 Product benchmarking
11.14.4 Strategic initiatives
11.15 Xtant Medical Holdings, Inc.
11.15.1 Company overview
11.15.2 Financial performance
11.15.3 Product benchmarking
11.15.4 Strategic initiatives