The global lumbar spine fusion market was valued at $7 billion in 2015 and is expected to surpass $9 billion by 2020, says Technavio.
Technavio has announced its latest market research report on lumbar spine fusion to its cardiovascular and metabolic disorders portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global lumbar spine fusion market during the forecast period 2016-2020. Some of the top vendors listed in this industry analysis include DeBuy Synthes, Medtronic, NuVasive, Stryker, and Zimmer Biomet
In terms of geographical analysis, the Americas will be the fastest-growing region in the global market, reaching revenues of $6 billion by 2020.
“One of the recent trends gaining traction in this segment is the increased use of surface modified titanium in spinal implants. Of late, it has been observed that the use of titanium to manufacture spinal implants has increased. Spinal implants such as cages, rods, screws, hooks, wires, plates, and bolts are being manufactured with titanium over stainless steel. Besides this, a new class of titanium has been introduced with nano-roughened (micron-level) surface modifications to bring greater osteoblast differentiation of culture stem cells than PEEK,” says Barath Palada, a lead analyst at Technavio for research on cardiovascular and metabolic disorders.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Increase in prevalence of spinal disorders
At present, around 80% of the global population suffers from the spine disorders and lower back pain. Spinal disorders such as spondylolisthesis, prolapsed intervertebral disc, and spinal stenosis is rising at an alarming rate across the globe and are effectively being cured by spinal fusion. These spinal disorders have affected people of all ages, especially the individuals aged 60. Aging often leads to degradation of bones, causing the cartilage between facet joints to deteriorate, resulting in various spinal disorders. Such rise in cases of spinal disorders will increase the volume of spinal fusion surgeries to relieve pain and preserve spinal motion. The surge in fusion rates have led to increase in the adoption of lumbar fusion techniques to treat the impairment caused by lumbar DDD or spondylolisthesis. Also, high rise in the number of oestoporosis cases has led to spinal surgeries, further contributing to the growth of the market.
Growing popularity of MI spinal surgeries
The usual open surgeries often cause various post-operation complications such as blood clots, fatigue, muscle atrophy, partially collapsed lungs, and infections, which is not in the case of MI spinal surgeries. MI surgeries treat many painful conditions of spine and repair the vertebrae that leads to rapid recovery and better patient outcome. Such trends have resulted in an increased adoption of MI surgeries by the surgeons. The shifting preferences towards MI techniques from open surgical methods have led to a high adoption of spine surgeries, especially TLIF, XLIF, and DLIF. Apart from these, anesthesia given before surgeries may lead to sore throat, nausea or sleepiness, while these complications are reduced in case of MI surgeries. Further, MI surgeries lead to minimal loss of blood, lower infection rate, reduced pain, retrieval, and faster patient ambulation. All these features make MI lumbar fusion popular and are expected to cause increased adoption of spine biologics in MI spine surgeries, subsequently steering the market growth.
Rising popularity of physician-owned ASCs
Lumbar fusion surgeries are minimally invasive, reduce infection, minimal blood loss, and have improved the life of the patients through safe implantations. Some of the spine fusion surgeries such as lumbar fusion procedure can be performed in ASCs. Technavio’s market research analysts expect that this trend will continue and many complicated open surgeries will undergo a rapid transition in the coming years. Such developments have led the surgeons to invest more on the setting of their ASCs to perform various lumbar spine surgeries in an outpatient setting. Another factor that has encouraged the surgeons to opt for minimally invasive procedures is the provision of low reimbursements by the hospitals for outpatient settings as compared to insurance companies. ASCs basically conduct surgeries on the same day which is also known as ambulatory. This surgery has gained traction among people as it reduces their overall medical costs along with minimum complications.
Some of the other prominent vendors identified in this report are Aesculap Implant Systems, Alliance Spine, Alphatech Spine, Amedica, AOI Medical, Apollo Spine, Cook Medical, Crosstrees Medical, K2M, LDR Holding, MEDICREA, NuTech Medical, Orthofix International, Paradigm Spine, RTI Surgical, Smith & Nephew, Trans1, Vexim, VTI, and Zavation.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Lumbar Spine Fusion Market 2016-2020‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Cervical Artificial Discs Market 2016-2020
- Global Spinal Implants Market 2016-2020
- Global Anterior Cervical Fixation Devices Market 2016-2020
- Global Spine Biologics Market 2016-2020
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