Spinal Fusion Devices Market (COVID-19) outbreak Business Opportunities and Demand, Recent Trends

Spinal fusion is a surgical procedure used for the fusion of spine vertebrae to restore stability of spine and eliminate pain. Spinal fusion plays a crucial role in the treatment of spondylolisthesis, degenerative disk disease, scoliosis, spinal stenosis, fractured vertebra and so on. It is gaining increased adoption fueled by the technological advancement in the spinal fusion treatment and surgical devices. The prevalence of spinal cord disorders is increasing significantly around the globe due to increasing number of patient suffering from musculoskeletal disorders. The long term presence of lower back pain and neck pain results in spinal vertebrae degeneration which consequently demands spinal fusion treatment for fixing the degenerated vertebrae.

The complications associated with spinal fusion varies from person to person and may result in blood clotting, nerve damage, pain at grafting site, and recurring symptoms, which is anticipated to impede the growth of the global spinal fusion devices market in coming years. However, the spinal fusion devices are evolving with integration of advanced technology to facilitate improved bone grafting, limited post-surgical motion restrictions, and higher efficacy. These factors are significantly contributing towards the growth of spinal fusion devices market.

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North America contributed the largest share to the global spinal fusion devices market in 2019 and is anticipated to be a dominating geography during the forecast period owing to the presence of leading manufacturers of spinal fusion devices, prevalence of spinal disorders, and favorable insurance & reimbursement policies. Asia Pacific is anticipated to be the most lucrative market during the forecast period with expanding healthcare infrastructure across India and China. The number of specialty hospitals in India for treatment of spinal disorders is increasing significantly fueled by the increasing investment and growth in medical tourism across the country. With expanding medical device manufacturing industry in India and China, the Asia Pacific spinal fusion devices market is anticipated to propel during the forecast period.

The report titled “Spinal Fusion Devices Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global spinal fusion devices market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market. For instance, Medtronic plc reported revenues of USD 30,557 million in 2019 and the product segment analysis of the company indicates that Cardiac & Vascular Group business segment of the company dominated revenue in 2019.

The global spinal fusion devices market is segmented based on product type, surgery type, and geography. Based on product type, the global spinal fusion devices market is segmented into thoracolumbar devices, cervical fixation devices, and interbody fusion devices. The thoracolumbar devices are sub-segmented into anterior lumbar plates, lumbar plates, pedicle screw, rods, hooks, wires & cables, and crosslinks. The cervical fixation devices are sub-segmented into anterior cervical plates, hook fixation systems, plates & screws, clamps, and wires. The interbody fusion devices are sub-segmented into non-bone interbody fusion devices, and bone interbody fusion devices. Based on surgery type, the global spinal fusion devices market is segmented into open spine surgery and minimally invasive spine surgery. Based on geography, the global spinal fusion devices market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

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The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on spinal fusion devices. Further, market share of prominent companies in the global spinal fusion devices market would also be estimated. For instance, Medtronic plc operates through four business segments namely Cardiac & Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group. The spinal fusion devices products are delivered under Restorative Therapies Group business segment of the company with revenue contribution of US$ 8,183 million in 2019.

The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the spinal fusion devices companies. The global spinal fusion devices market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the spinal fusion devices business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global spinal fusion devices market.