A recent analysis by FMI reveals promising forecasts for the Global Non Fusion Spinal Devices Industry. With a projected Compound Annual Growth Rate (CAGR) of 4.8% over the forecast period, the industry is set to reach new heights. By 2033, market valuation is anticipated to surge from US$ 4.37 billion in 2023 to a remarkable US$ 6.99 billion.
The non-fusion spinal devices industry is on a path to robust expansion in the years to come. This growth is largely attributed to the increasing demand for non-fusion spinal procedures, primarily among the elderly population. A surge in research endeavors assessing the effectiveness of non-fusion spinal devices in addressing conditions such as spondylolisthesis, scoliosis, and stenosis is expected to propel market growth even further.
This trajectory demonstrates the industry’s commitment to innovation and its essential role in improving the lives of patients in need. As we look ahead, the global non-fusion spinal devices market is poised for a promising and prosperous future.
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The movement and stability of the patient post-spinal surgery afforded by non-fusion spinal devices is resulting in its surging adoption. Some key non-fusion spinal devices include artificial discs and growth-sparing devices. Many benefits of spinal non-fusion devices include extended healing time, adjacent segment degeneration, and bone graft donor site morbidity, which makes them a better alternative for patients in comparison to fusion devices.
Spinal issues induced by a sedentary lifestyle, obesity, and sports-associated accidents have played a significant role in the demand for non-fusion spinal devices. These surgeries improve mobility and quality of life, and are cost-effective, which is leading to their heightened adoption. The market is anticipated to flourish on account of rising incidences of spinal injuries, growing awareness, and a surging preference for minimally invasive procedures.
Key Highlights:
- The United States is projected to head the overall market growth, contributing significantly to the global non-fusion spinal devices market. The market growth is underpinned by favorable government initiatives in support of healthcare policies and surging health consciousness among people in America.
- China non fusion spinal devices industry is thriving in the Asia Pacific region. Growing at a significant pace, the market is driven by enhancing healthcare infrastructure and advancements in technology.
- The market in Germany is being fueled by an upsurge in the geriatric population and the rising per capita income of the people in Germany. The geriatric population is prone to spinal dysfunction/disorders, thus expanding the elderly population is anticipated to boost the uptake of non-fusion spinal devices.
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Latest Market Developments in the Market:
- In May 2021, Spinal Stabilization Technologies Ltd., which offers PerQ disc Nucleus Replacement System to treat degenerative disc disease, received Breakthrough Designation. Additionally, the device has obtained CE approval. The system is the only commercially available system for lumbar nucleus replacement across the globe.
- In February 2021, NuVasive, Inc. procured Simplify Medical, which is a privately held company that develops Simplify Cervical Artificial Disc for the procedure of cervical total disc replacement (cTDR).
- In March 2021, Implanet, a company that specializes in knee and spine products, proposed to acquire a significant stake in Orthopedic & Spine Development (OSD), a French firm that specializes in the creation of implants for spine surgery.
Key Market Segmentation for Non Fusion Spinal Devices Industry
By Product:
- Artificial Disc Replacement Device
- Partial Disc (Nucleus) Replacement Device
- Dynamic Stabilization Devices
- Total Facet Replacement Devices
- Annulus Repair Device
- Others
By End User:
- Hospitals
- Orthopedic Centers
- Others
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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