The main objective of this report is to define, describe, and forecast the global “Spinal Fusion Devices” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to report the global spinal fusion devices market is projected to grow at a CAGR of 3% over the forecast period of 2018-2024.
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Cerapedics: first patients enrolled in bone graft trial
In August 2018, Cerapedics, Inc. has announced that the first patients have been enrolled in an investigational device exemption (IDE) clinical trial of its next-generation P-15L Peptide Enhanced Bone Graft in transforaminal lumbar interbody fusion (TLIF).
FDA Clears First Nanotechnology Peek Devices for Spinal Intervertebral Fusion
In Jun 2018, Vallum Corporation, a medical device company, announced that it has received clearance from the U.S. Food and Drug Administration (FDA) to market a polyetheretherketone (PEEK) spinal interbody fusion device with a PEEKplus® nanotextured1 surface created by Vallum’s proprietary and patented Accelerated Neutral Atom Beam (ANAB) technology.
PEEKplus® is the first and only FDA-cleared nanotextured surface on a PEEK interbody device.
Fuse Medical, Inc. Completes Acquisition of Maxim Surgical
In August 2018, Medical, Inc. announced the completion of the acquisition of Palm Springs Partners, LLC d/b/a Maxim Surgical (“Maxim”), a manufacturing company in the spinal fusion device market and full-service medical device and distribution company (the “Acquisition”).
Growing incidences of spinal disorder to promote the growth of Spinal Fusion Devices Market
According to the world health organization, Based on the 2012 world population estimation, every year between 250 000 and 500 000 people suffer a spinal cord injury. Traumatic spinal cord injury (TSCI) incidence rates vary widely across the world, 13 to 53 cases per million population. Road side accidents are the leading cause of the TSCI. The major factor such as growing incidences of spinal disorder such as Osteoarthritis, Low back pain, Spinal disease, Injury, Degenerative disc disease, Chronic pain Spinal cord injury and Spinal fracture occur in young adults and elder people globally are driving the growth of market. However, high cost of treatment procedure may restrains the growth of the Spinal Fusion Devices Market. Going further, advancement in innovative screw systems and modern materials such as titanium alloy used for the manufacturing of locking mechanism is anticipated to create growth opportunities for the Spinal Fusion Devices Market in near future. In the coming years, rise in demand from orthopedic centers and clinical of Spinal Fusion Devices will provide growth opportunities for the market.
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Asia Pacific region to contribute to growth in the global Spinal Fusion Devices Market over the next 6 years
Among the regions, North America is anticipated to be the leading region in the spinal fusion devices market followed by the Asia pacific region. The factor attributing the growth of market in this region are growing focus of market players on the innovation in the devices and rising awareness about the advanced treatment. The growth in Asia pacific region due to growing incidences of spinal disorder, low cost of spine procedure in India as compared to U.S. and rapidly aging population are the driving forces for the growth of this region.
The major key players in spinal fusion devices Market are Titan Spine LLC, K2M Group Holdings Inc., NuVasive Inc., Zimmer Biomet Holdings Inc., Medtronic plc, Braun Melsungen AG, Alphatec Holdings Inc., Orthofix International N.V., Stryker Corporation and Globus Medical Inc..