DUBLIN, May 09, 2022--(BUSINESS WIRE)--The "Global Spinal Fusion Market, Size, Share, Forecast 2022-2027, Industry Trends, Growth, Outlook, Impact of COVID-19, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
This report provides a detailed analysis of the global spinal fusion device Industry. The global spinal fusion device market is projected to reach US$ 9.93 Billion by 2027, US$ 7.48 Billion in 2021.
The incidence of spinal cord injuries has grown significantly in the last couple of years. According to the World Health Organization (WHO), every year, around the world, between 250,000 and 500,000 people suffer an (SCI) spinal cord injury, which raises the demand for spinal fusion devices worldwide.
Spinal fusion devices are utilized to provide stability to the spinal structure, which has lost stability due to degenerative disorders, fracture of the spine, trauma, tumors, and deformity. Besides, spinal fusion devices have innovative locking screw systems and mechanisms which can have self-tapping functions and self-drilling. They are made from modern manufacturing material such as titanium alloy and single and double holes per vertebrae through which the screw fixation is done.
The primary factors attributing to the global spinal surgery market's growth are:
Advances in spinal surgery tools.
Growing geriatric and obese population with spinal deformities.
Increasing demand for non-invasive spinal surgery procedures elements driving the market's growth.
Apart from this, increased research on biologics, especially Bone Morphogenetic Proteins (BMPs), is expected to favor the adoption of spinal fusion implants. According to this report Global Spinal Fusion Device Market Size was US$ 7.48 Billion in 2021.
North America is a significant Spinal Fusion Device Market
Regionally, North American is the significant spinal fusion device market, owing to increased spinal disorders. By (NCHS) National Center for Health Statistics, more than 65 Million Americans suffer from lower back problems every year. With evolving lifestyle and food consumption methods in the region, such figures will increase further.
The degenerative spinal disorders are also to grow, along with a likely increase in spinal problems in obese populations due to increased obesity, further boosting the spinal fusion device market growth.
Moreover, the Asia Pacific spinal fusion devices market is to significantly growing due to the rising awareness, improving healthcare infrastructure, enhancing reimbursement scenario, and the growing insurance coverage in several APAC countries.
The effect of the COVID-19 pandemic has been witnessed in about every industry. Like other healthcare industries, the market for spinal fusion devices has also been entirely affected. The COVID-19 outbreak situation across countries has shown some challenges on the spinal fusion devices owed to hold on orthopedic services by the hospitals and clinics.
The immense pressure on the hospitals in providing services to COVID-19 patients is also one of the factors, which has been inhibiting the clinics and hospitals in delivering spine fusion services.
Product Type - Market Breakup has been covered from 4 viewpoints
Surgery Type - Market Breakup has been covered from 2 viewpoints
Disease Indicator - Market Breakup has been covered from 4 viewpoints
End Users - Market Breakup has been covered from 3 viewpoints
Regions - Market Breakup has been covered from 5 viewpoints
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