Spinal Fusion Device Market Size, Share & Trends Report

Spinal Fusion Device Market Size, Share & Trends Analysis Report By Product, By Surgery (Complex Deformity, Degenerative Disc), By Disease Type, By End User (Hospitals, Specialty Clinics), By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Jul, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68039-388-0
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 150

Report Overview

The global spinal fusion device market size was valued at USD 6.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.4% from 2021 to 2028. Increasing numbers of spinal disorders and the growing geriatric population are boosting the market growth. According to the CDC report, around 34.0% of the adult population and 62.0% of the elderly population got affected by spinal deformities as of 2019. The common causes of spinal fusion injuries are found to be trauma, falls, collisions, or road traffic accidents.

U.S. spinal fusion device market size, by product, 2016 - 2028 (USD Million)

The impact of the COVID-19 pandemic has been witnessed in nearly every industry. Like other healthcare markets, the market for spinal fusion devices has also been significantly affected. COVID-19 has led to postponed or deferred elective surgeries, a decline in sales, and dampened growth rate, among others. The decrease in surgical procedures drastically reduced the demand for devices and products required for spinal fusion. Although urgent and emergent surgeries were performed, there was a steep decline in the total number of procedures. Shortage of ICU beds and surgical rooms has been reported. Industry players witnessed slow growth and low net sales in the first two quarters of 2020.

After the initial impact of the pandemic, companies and governments started undertaking corrective actions to help the economy and businesses recover. These measures included policy and monetary stimuli, easing of restrictions, conditional exemptions, and other strategic initiatives. By Q3 2020, many companies reported recovery in sales with positive projections for the future. For instance, Stryker's spine segment revenue reported double-digit growth of 11.3% in 2021 Q1 as compared to 2020.

Spinal Fusion Devices Market: Impacted by the suspension, delay of elective surgeries due to COVID-19

Pandemic Impact

Post COVID Outlook

The earlier projections depicting 4.0% YoY growth was countered by the pandemic resulting in the difference of USD ~22.6 million revenue in the earlier and recent estimations

Gradual market recovery is anticipated from 2022 with a CAGR of over 4.5% (2022- 2028) owing to, resumption of elective surgeries, backlog, and increased target population


Large spinal instrument manufacturers such as Medtronic, NuVasive Inc., Orthofix, DePuy Synthes reported loss as high as 7.5% in the 1st quarter of 2020, largely due to a drop in elective surgery cases.

 

Orthofix’s spinal implant revenue increased by 12% in q1 2021 from last year due to increased procedural volumes thus expected to boost the revenue in future

 


By 2021, many companies reported recovery in sales with positive projections for the future. For eg: Stryker's spine segment revenue reported double-digit growth of 11.3% in 2021 Q1 as compared to 2020 Q1.

 

The increasing adoption of minimally invasive surgeries (MIS) is further increasing the demand for spinal fusion devices. Surgeons are opting for MIS rather than open surgery owing to various advantages such as less pain, reduced post-operative duration, and less injury to the tissue. According to Mini-invasive Surgery in 2019, minimally invasive techniques are being adopted for the treatment of a wide range of bone disorders. Approximately 400,000 spinal fusion cases are performed in the U.S. annually and it has turned out to be one of the most commonly performed and well-established treatment options for spine trauma, degenerative disorders, and structural abnormalities. 

Product Insights

The thoracolumbar devices segment dominated the market for spinal fusion devices and accounted for the largest revenue share of more than 55.0% in 2020. The increasing incidence of spinal disorders such as spinal stenosis, excessive kyphosis, and vertebral fracture is further driving the segment. In most of these cases, surgery is the only treatment option. Moreover, fractures in the thoracolumbar area can be the most important reason for surgical intervention. These fractures are either caused by road accidents or bone insufficiency. Bone insufficiency is caused for the reason of underlying settings such as osteoporosis and tumors that eventually weaken the bone and cause fractures.

The cervical segment is expected to grow fast in the market for spinal fusion devices over the forecast period owing to the rise in prevalence of cervical spondylosis in corporate professionals. Cervical spondylosis is a common disorder that is projected to account for 2% of all hospital admissions in the U.S. It is the most recurrent cause of spinal cord dysfunction in patients elder than 55 years. Based on radiologic findings, 90% of women elder than 60 years and 90% of men elder than 50 years have evidence of degenerative changes in the cervical spine, which is expected to support segment growth in the coming years.

Disease Type Insights

The degenerative disc segment dominated the market for spinal fusion devices and accounted for the largest revenue share of over 42.0% in 2020. Growing reasons for lower back pain and neck pain in adults and an upsurge in elderly population are the major aspects driving the segment. In addition, rise in sports and daily activities is expected to augment segment growth.

The complex deformity segment is expected to grow fast in the market for spinal fusion devices over the forecast period. The demographics of the elderly population in the U.S. are experiencing a fundamental shift as medical care improvements and life expectancy increases. Moreover, the baby boomers represent the fastest rising demographic in the U.S and the number of individuals 65 years and elder are projected to reach 89 million by 2050, more than double its existing size which is further boosting the revenue.

Surgery Insights

The minimally invasive surgery segment dominated the market for spinal fusion devices and accounted for the largest revenue share of 64.0% in 2020 as it’s the first preference for spinal fusion surgeries. According to a survey in 2019 in the U.S., the 3 most significant parameters for patients when selecting between MIS and open surgery were: surgeon's recommendation, complication risk, and long-term outcomes. When compared with MIS surgery, most patients experienced open surgery to be more painful, increased complication risk, increased recovery time, and need heavier sedation. Besides, if required to have spine surgery in the future, most of both patient groups would choose a minimally invasive approach. The aforementioned factors are expected to propel the revenue over the forecast period.

End-user Insights

The hospitals dominated the market for spinal fusion devices and accounted for the largest revenue share of over 57.0% in 2020. The growing number of spinal surgeries performed at hospitals is one of the factors driving the segment. Growing government initiatives to improve the healthcare infrastructure and expanding the middle-class population in developing nations such as India are resulting in increasing demand for quality healthcare services delivered by hospitals, thereby aiding segment growth.

Global spinal fusion device market share, by end user, 2020 (%)

The specialty clinics segment is expected to grow fast in the market for spinal fusion devices over the forecast period. The popularity of these clinics is increasing over years. With the need for improved access to care, numerous types of specialty clinics have come to market over the last two decades. In addition, the increasing demand for better healthcare services has opened scope for new opportunities in delivering affordable healthcare services. Specialty clinics would mainly help in bridging the gap between the demand and supply of healthcare services and facilities by providing superior care. Hence, the aforementioned factors will support segment growth during the forecast period.

Regional Insights

North America dominated the spinal fusion devices market and accounted for the largest revenue share of over 41.0% in 2020. The rising geriatric population, growing spinal disorder and increasing incidence of sports injuries and fatal accidents are among key factors boosting the demand for spinal fusion devices in North America. In addition, the presence of well-established healthcare infrastructure is expected to propel market growth in the region. Moreover, developments by key players are expected to boost market growth with huge untapped opportunities. In April 2019, Orthofix launched M6-C artificial cervical disc, the first commercial implant to increase its market penetration.

In Asia Pacific, the market for spinal fusion devices is expected to grow fast over the forecast period. The growth can be attributed to an increased number of medical tourism and government initiatives. Moreover, the growing target population in this region is further increasing the risk of spinal diseases and joint problems. In India, the market for spinal fusion devices is expected to show lucrative growth over the forecast period. The growth can be attributed to increased medical tourism in India for spinal fusion surgeries. There has been a 15 to 20% increase in the patient footfall in India for spinal fusion surgeries in the last 5 years, thus propelling demand.

Key Companies & Market Share Insights

The market for spinal fusion devices is highly competitive with many large and small industry players. These players are taking initiatives such as regional expansion, new product launches, partnerships, and collaborations to gain more market penetration. For instance, in November 2020 Aurora Spine Corporation launched the SOLO ALIF standalone cage system which will eventually decrease the surgery time. In January 2020, Medtronic acquired Stimgenics LLC to enhance its product portfolio. In July 2020, Zavation Medical Products introduced the Z-Span Expandable Anterior Lumbar Plate plates intended for use in the lumbar spine as additional fixation devices. Some of the prominent players in the spinal fusion device market include:

  • Johnson & Johnson Services, Inc. (DePuy Synthes)

  • Stryker

  • Zimmer Biomet

  • Orthofix Medical, Inc.

  • B. Braun Melsungen AG

  • Medtronic

  • NuVasive, Inc.

  • Globus Medical

  • ATEC Spine, Inc

  • Captiva Spine, Inc

  • SeaSpine

  • Spinal Elements, Inc.

  • Spine Wave, Inc.

  • Spineology, Inc.

  • Xtant Medical Holdings, Inc.

Spinal Fusion Device Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 6.5 billion

Revenue forecast in 2028

USD 8.8 billion

Growth Rate

CAGR of 4.4% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, disease type, surgery, end-user, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; Germany; U.K.; France; Italy; Spain; Japan; India; China; Brazil; Mexico; Argentina, South Africa; Saudi Arabia

Key companies profiled

Johnson & Johnson Services, Inc. (DePuy Synthes); Stryker; Zimmer Biomet; Orthofix Medical, Inc.; B. Braun Melsungen AG; Medtronic; NuVasive, Inc.; Globus Medical; ATEC Spine, Inc; Captiva Spine, Inc; SeaSpine; Spinal Elements, Inc.; Spine Wave, Inc.; Spineology, Inc.; Xtant Medical Holdings, Inc.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global spinal fusion device market report on the basis of product, disease type, surgery, end-user, and region:

  • Product Outlook (Revenue, USD Million, 2016 - 2028)

    • Thoracolumbar Devices    

      • Anterior Lumbar Plates

      • Pedicle Screw and Rods

      • Others

    • Cervical Fixation Devices  

      • Anterior Cervical Plates

      • Hook Fixation Systems

      • Others

    • Interbody Fusion Devices 

  • Disease Type Outlook (Revenue, USD Million, 2016 - 2028)

    • Degenerative Disc

    • Complex Deformity

    • Trauma & Fractures

    • Others

  • Surgery Outlook (Revenue, USD Million, 2016 - 2028)

    • Open spine surgery

    • Minimally Invasive Spine Surgery

  • End-user Outlook (Revenue, USD Million, 2016 - 2028)

    • Hospitals

    • Specialty Clinics

    • Others

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

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