Report ID: SQMIG35A2336
Report ID:
SQMIG35A2336 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|
Tables:
61 |
Figures:
75
Spinal Fusion Devices Market size was valued at USD 7.1 Billion in 2023 and is poised to grow from USD 7.41 Billion in 2024 to USD 10.43 Billion by 2032, growing at a CAGR of 4.3% during the forecast period (2025-2032).
Growing burden of degenerative disc diseases and increasing geriatric population prone to spine diseases are the major driving forces for the market. Also, improvements in surgical techniques for spinal fusion surgery as well as new spinal devices. Increased awareness regarding advantages of minimally invasive surgical procedures coupled with the rising healthcare expenditure in the developing countries is another important factor driving the market demand for spinal fusion device. Moreover, associated lifestyle changes and surge in number of accident cases leading to spine surgeries also drive the growth of the market.
There is a trend towards the use of surgical robots in spinal fusion devices, most hospitals today have performed robotic surgery for spinal diseases. Several of the manufacturers are now focused on advancing new surgical robot models that can be used with precision implants and navigation systems during spinal fusion surgery. These have created many possibilities for strategic partnerships and new product launches, both of which, are expected to be the elements that will drive the growth of this market. Moreover, market is further formed by improved outcome spinal surgery procedures. Improved procedural advantages such as lesser blood loss, faster recovery and minimum pain are compelling patients to opt for these surgeries. The market is quickly gaining traction due to the increase in R&D funding which leads to technological and biological advancements, resulting in an enticing promise of explosive growth in the upcoming years.
US Spinal Fusion Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
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Report ID: SQMIG35A2336