Spinal Fusion Devices Market is expected to reach US$ 12,993.25 million by 2030

Open Spine Surgery Segment, by Surgery, to Dominate Spinal Fusion Devices During 2022–2030

According to our new research study on "Spinal Fusion Devices Market Size and Forecasts (2020–2030), Global and Regional Share, Trends, and Growth Opportunity Analysis," the spinal fusion devices market size is expected to grow from US$ 8,276.31 million in 2022 and to reach a value of US$ 12,993.25 million by 2030, it is anticipated to record a CAGR of 5.8% from 2022 to 2030. The increasing developments in spinal technology by spine device companies and increasing numbers of spinal fusion procedures are the major factors contributing to the growing spinal fusion devices market size. However, the stringent regulations for spinal fusion devices are the major factor hindering spinal fusion devices market growth.

Spinal fusion is a type of surgery in which two or more bones in any part of the spine are connected. There are several types of spinal fusion surgery options. The most commonly employed surgical techniques include posterolateral gutter fusion, posterior lumbar interbody fusion (PLIF), anterior lumbar interbody fusion, anterior/posterior spinal fusion, and extreme lateral interbody fusion.

Spinal Fusion Devices Market Analysis, by Product Type, 2022 (%)

Source: The Insight Partners Analysis

The spine device companies widely adopted innovation, spinoffs, and merger and acquisition developments or strategies. The strategies have helped mark an exponential growth of the spinal fusion devices market in 2022. Below are a few instances of developments made by the companies in 2022.

• In August 2022, Kleiner Device Labs announced the completion of its first successful surgery using its new KG2 Surge flow-thru interbody system. On July 19, 2022, the single level transforaminal lumbar interbody fusion (TLIF) surgery was performed at the Brooklyn Hospital Center, New York, US. Kleiner Device Labs claims that the new KG2 Surge flow-thru interbody system provided the amount of bone-grafting material three times more than the traditional spinal surgery approaches. The company also claims that their KG2 Surge flow-thru interbody system is a single-patient-use bone graft delivery tool combined with a 3D-printed titanium I-Beam fusion implant. Further, the KG2 Surge flow-thru interbody system will reduce multi-step, multi-instrument pass practice to a single insertion process of current spinal fusion procedures.
• In March 2022, Zimmer Biomet Holdings, Inc. announced a complete spinoff of ZimVie. ZimVie will continue to focus on key growth strategies for the spine and dental markets. The company will develop products, including spinal fusion implants, surgical tools, bone grafts, implants, non-fusion alternatives, and digital care technologies. Due to the spinoff, ZimVie will operate as an independent entity registered on the Nasdaq with the symbol ‘ZIMV.’ Thus, it is expected that ZimVie will significantly enhance the market by holding a good market share.
• In October 2022, Spineart launched its new minimally invasive spine surgery (MISS) system, PERLA TL MIS. The company’s MISS system is a thoracolumbar posterior fixation system available worldwide. The launch of PERLA TL MIS is anticipated to demonstrate the company’s commitment to transforming spine surgery to benefit its end users: surgeons, patients, and hospitals. Such product launches are likely to drive market growth in the coming future.

The trend of developments in the spine industry has continued and witnessed strategic improvements that have fueled the growth of the spinal fusion devices market. In July 2023, Xtant Medical Holdings, Inc. announced that it won certain assets and liabilities of Surgalign Holdings, Inc. related to spinal fixation and domestic and international biologics. Xtant Medical Holdings, Inc. is dedicated to developing spinal implant systems that facilitate spinal fusion in complex spinal deformity degenerative processes. Thus, such developments in spinal technology by spine device companies are catalyzing the market growth.

Medtronic PLC, Johnson & Johnson Services Inc, B.Braun SE, Stryker Corp, ATEC Spine Inc, Globus Medical Inc, NuVasive Inc, ZimVie Inc, Centinel Spine LLC, and Orthofix Medical Inc are among the key companies operating in the spinal fusion devices market. The companies have been implementing various strategies that contributed to their growth and led to various changes in the market. The companies have utilized both organic strategies (such as launches, expansion, and product approvals) and inorganic strategies (such as product launches, partnerships, and collaborations). 

The report segments the spinal fusion devices market as follows:

The spinal fusion devices market, by product type, is segmented into thoracolumbar devices, cervical fixation devices, and interbody fusion devices. In 2022, the thoracolumbar devices segment held the largest share of the market by product type. The interbody fusion devices segment is estimated to grow at a significant CAGR during 2022–2030 due to increasing developments for interbody fusion devices. The spinal fusion devices market, by surgery type, is bifurcated into open spine surgery and minimally invasive spine surgery. In 2022, the open spine surgery segment held a larger share of the market by surgery. The minimally invasive spine surgery segment is estimated to grow at a significant CAGR of 9.5% during 2022–2030 due to the increasing adoption of minimally invasive spine surgery approach. The spinal fusion devices market, by disease indications, is divided into degenerative disc, trauma and fractures, complex deformity, and others. In 2022, the degenerative disc segment held the largest share of the market by disease indications and is estimated to grow at a significant CAGR during 2022–2030 due to the growing geriatric population prone to degenerative diseases. The spinal fusion devices market, by end user, is segmented into hospitals, specialty clinics, and others. In 2022, the hospitals segment held the largest share of the market and is expected to grow at the fastest rate during the coming years.

Based on geography, the spinal fusion devices market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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