DUBLIN--(BUSINESS WIRE)--The "Spinal Fusion Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global spinal fusion market is projected to grow at a CAGR of 3.04% during the forecast period to reach US$8.516 billion by 2026 from US$6.904 billion in 2019.
Companies Mentioned
- Medical Device Business Services Inc. (Johnson and Johnson)
- Atec Spine Inc.
- Globus Medical
- Orthofix Medical Inc.
- Zimmer Biomet
- NuVasive Inc.
Spinal fusion is an orthopedic or neurosurgical surgery that joins two or more vertebrates into a single structure. This surgery is undertaken to correct any abnormal deformation of the spine bone or to reduce spinal pain and malfunctioning owing to several reasons. Furthermore, this surgery enables the replacement of spinal bone with an artificial structure in case of the patient's bone breaks, partially or completely, or has to be removed due to some disease or severe accident injury.
Aged people are the prime patients of these surgeries. With age, the spinal bone loses its nourishment and becomes weak. This leads to excessive pains and other deformations, hindering the patient's life. Hence, aged people undergo these surgeries for better health. Further, patients suffering from spinal diseases such as scoliosis, spinal stenosis, spondylolisthesis, tumor, or spinal infection and/ or have fractured bone also prefer to undergo these surgeries. Fracture or broken bones during accidents also require these surgeries for a smoother lifestyle.
The prime reason driving the market growth is the rising population of aged people coupled with growing lifestyle complexities and availability of healthcare services. growing aged proportion in the overall population demography plays a significant role in the market growth. Furthermore, hectic work life, bad sitting postures, and complex lifestyle has created spine issues and problems among the young population and adults, requiring the need for spinal fusion surgery in case of severity and serious pains, increasing the market size significantly. Furthermore, growing healthcare infrastructure along with technological advancement has made the availability of options to general patients for better decision-making. However, the expense of the surgery and complication does raise concerns.
The growing aged population, particularly in the Asian and European region will provide robust scope for the market.
On the industry analysis based on regions, the Asia Pacific and European countries are projected to provide robust growth opportunities for the spinal fusion market during the forecasted period. The growing proportion of the aged population in the country's demography will provide plays the dominating role in driving the market growth.
In the Asia Pacific region, the proportion of the aged population is on the rise, particularly in Japan and South Korea. Japan is witnessing massive demographic changes with a fall in population rate owing to low fertility and a rise in the proportion of the aging population. The proportion of the population aged 65 and above in Japan increased from 21.829% in 2009 to 28.002% in 2019. Similar population demography has been observed in South Korea where this proportion increased by 47.08% to 15.06% in 2019.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis
5. Spinal Fusion Market, by Type
5.1. Introduction
5.2. Traditional Spinal Fusion Procedure
5.2.1. Posterior Lumbar Interbody Fusion
5.2.2. Anterior Lumbar Interbody Fusion
5.2.3. Others
5.3. Minimally Invasive Spinal Fusion Procedure
5.4. Transforaminal Lumbar Interbody Fusion
5.5. Extreme Lateral Interbody Fusion
5.6. Others
6. Spinal Fusion Market, by Geography
7. Competitive Environment and Analysis
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrative
7.3. Mergers, Acquisition, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/nlk470
