What is Spinal Fusion Devices Market?
Fusion is a surgical procedure to create connections between rigid bones using a bone graft. Spinal fusion implants can be divided into three groups, namely cages, plates, and rods. Spinal fusion permanently connects two or more vertebrae in your spine to improve stability, correct a deformity, or relieve pain. The doctor may recommend a spinal fusion to treat deformities of the spine. Spinal fusion can help correct spinal deformities such as a sideways curvature of the spine (scoliosis). A spinal fusion device or implant is an orthopaedic surgical mechanism used to join or hold in place two or more vertebrae. They consist of interbody devices, biologics, cervical fixation devices, and thoracolumbar fixation devices. The elderly are very susceptible to various types of injuries, and spinal cord injuries are one of the most common diseases of old age. These devices can be used to perform a spinal fusion between two or more vertebrae. These implants are designed to spread the two vertebrae apart as the fusion heals. According to NINDS (National Institute for Neurological Disorders and Stroke), around 80 per cent of adults will experience back pain at some point in their life. It is the leading cause of disability worldwide. Over the past decade, the way spinal fusion surgery has been performed has improved dramatically. One of the major improvements has been the development of fixation devices.
The market study is being classified by Type (Cervical Devices, Thoracolumbar Devices, Interbody Devices and Biologics), by Application (Degenerative Disc Disease, Complex Deformity, Traumas & Fractures and Others) and major geographies with country level break-up.
Stryker (United States), Alphatec Spine, Inc. (Germany), RTI Surgical Holdings, Inc. (United States), Zimmer Biomet (United States), Medtronic (United States), NuVasive, Inc. (United States), Nutech (United States), Tecomet(United States), Marox (United States) and Medtronic (Ireland) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Orthofix (United States), Kuros Biosciences AG (Switzerland), Spineart (Switzerland) and Bioventus LLC (United States).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Spinal Fusion Devices market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Spinal Fusion Devices market by Type, Application and Region.
On the basis of geography, the market of Spinal Fusion Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Adoption of Surgical Robots for Spinal Injuries to Prove Favorable for the Market
- Growing demand for minimally invasive surgical procedures
- Advancements in Spine Surgery Technologies
- The high demand for 3d printing device for lumbar fusion
- High Cost of Treatment Procedures
- Growing usage of implant procedures
- Lack of Adequate Physicians and Limited Awareness
Market Leaders and some development strategies
In December 2020, Zimmer Biomet Completes Acquisition of A&E Medical Corporation, the deal is expected to have an immaterial impact to net earnings in coming years. and In November 2020 Medtronic has acquired French artificial intelligence company Medicrea, marking the med-tech-device company’s seventh acquisition this year. Medicrea specializes in using AI for surgical planning, as well as digitally constructed spinal implants and robotic-assisted surgery.
In November 2020 Aurora Spine Announces Commercial Launch of The SOLO™ System, it has commercially launched its proprietary SOLOTM ALIF Stand-Alone Cage system to its innovative suite of MIS products used in spinal surgery and May 2019, Alphatec Spine announced the commercial release of its IdentiTi-PC Porous Titanium Interbody Implant System for Transforaminal Lumbar Interbody Fusion Procedures (TLIF)
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Spinal Fusion Devices Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry
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