According to FutureWise analysis the market for spinal fusion in 2023 is US$ 9.9 billion, and is expected to reach US$ 15.33 billion by 2031 at a CAGR of 5.60%.
Spinal fusion is the surgery of permanently joining together two or more bones in the spine so that they cannot move. A spinal fusion device can be used as a treatment option for patients with lumbar degenerative disc disease (DDD). The most common spinal fusion procedures include transforaminal lumbar interbody fusion (TLIF), anterior lumbar interbody fusion (ALIF), posterior lumbar interbody fusion (PLIF), posterior lumbar fusion (PLF), and extreme lateral interbody fusion (XLIF). There is a relatively high level of concentration in the spinal fusion industry. Device precision and quality are high requirements, and the device must be biomechanically compatible with the human body and have good biocompatibility with human tissue. Also the most common spinal fusion procedure is lumbar fusion. In general, patients over age 50 are more likely to undergo spinal fusions.
The global spinal fusion market is expected to be driven by aging populations and an increase in road accidents during the forecast period. A spinal fusion, also known as spinal arthrodesis, is a surgical procedure used to fuse two or more vertebrae in the spinal column. An arthroscopic spinal fusion procedure is used to treat degenerative disc disease, abnormal spinal curves, spondylolisthesis, and others. The increase in geriatric population and number of spinal injuries has resulted in an increase of spinal fusion procedures. The spinal fusion devices market analysis notes that spinal fusion surgery has become a standard treatment for degenerative disc disease, which is contributing to the segment's expansion.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Spinal Fusion Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Spinal Fusion Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.