Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Spinal Fusion Devices Market size is expected to reach $9.7 billion by 2028, rising at a Market growth of 4.6% CAGR during the forecast period.
The Minimally Invasive Spine Surgery segment is leading the Global Spinal Fusion Devices Market by Surgery 2021, thereby, achieving a Market value of $6.8 billion by 2028. Because of the advantages associated with the surgery, like reduced blood loss during or after surgery, lowered post-operative pain & infection risk, decreased risk of muscle & tissue, and others, the demand for minimally invasive surgeries is rapidly increasing. As a result of these advantages, an increasing number of patients are choosing minimally invasive spinal operations. Surgeons can use minimally invasive techniques to perform surgeries including interbody cage fusion, spinal fusion, decompression, discectomy & microdiscectomy, laminotomy, and laminectomy, among others. Hence, the growth of this segment is being augmented.
The Thoracolumbar Devices segment acquired maximum revenue share in the Global Spinal Fusion Devices Market by Type 2021, thereby, achieving a Market value of $5.2 billion by 2028. The increased prevalence of lumbar spine degeneration and the increasing availability of a variety of thoracolumbar fixation devices are the main reasons driving this segment's growth. The lumber spine degeneration is a syndrome in which age-related wear and tear on a spine disc which causes lower back pain.
The Specialty Clinics segment is showcasing a CAGR of 5% during (2022 - 2028). Due to higher research on biologics and the usage of artificial grafts for bone repair, the segment is expected to grow. The Speciality clinics have grown in popularity throughout the recent years. Several types of specialty clinics have emerged in response to the need for enhanced access to care over the previous years. Additionally, the growing requirement for improved healthcare services has created new prospects for providing inexpensive healthcare. Delivering specialty clinics and specialty clinics would primarily aid in closing the gap between demand and availability of healthcare services and facilities. Therefore, these factors would accelerate the growth of this segment throughout the coming years
The North America Market dominated the Global Spinal Fusion Devices Market by Region 2021, and would continue to be a dominant Market till 2028; thereby, achieving a Market value of $3.2 billion by 2028. The Asia Pacific Market is estimated to witness a CAGR of 6.3% during (2022 - 2028). Additionally, The Europe Market would experience a CAGR of 3.9% during (2022 - 2028).
The Market research report has exhaustive quantitative insights providing a clear picture of the Market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the Market have been discussed in the report with the elaborated company profiles of Zimmer Biomet Holdings, Inc., Johnson & Johnson, Stryker Corporation, B. Braun Melsungen AG, Medtronic PLC, Alphatec Holdings Inc., Globus Medical, Inc., NuVasive, Inc., Orthofix Medical, Inc., and Exactech, Inc.
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