Market Research Future (MRFR) has published a cooked research report on the “Global Cervical Fusion Market” that contains the information from 2022 to 2030. The global cervical fusion market is expected to register a CAGR of 3.90% during the forecast period.
MRFR recognizes the following companies as the key players in the global cervical fusion market are Medtronic Inc (Ireland) Abbott Laboratories (US) Stryker Corporation (US) DePuy Synthes (US) B. Braun Melsungen AG (Germany) NuVasive, Inc (US) Zimmer Biomet (US) Orthofix (US) Globus Medical (US), Others.
Market Highlights
Global Cervical Fusion Market is registering a CAGR of 3.90% during the forecast period (2022 - 2030), The market was valued at USD 8.10 Billion in 2030.
Cervical spinal fusion surgery can be done in a number of ways, including the insertion of a bone graft to promote natural bone regeneration. It is also permissible to utilise synthetic grafts such as metal or polymer grafts. These artificial implant grafts are also used to hold the vertebrae together until new bone forms between them.
However, the rising number of cervical disorders and sports related mishaps are leading to cervical has increased global demand for cervical fusion implants. Furthermore, individuals aged 16 to 25 had a higher rate of neck injuries than other age groups. Such occurrences have increased demand for cervical fusion items in various regions. Additionally, the advent of biomaterial cervical fusion implants is propelling the cervical fusion market.
Segment Analysis
The global cervical fusion market is mainly segmented into product fusion type, type, surgery, end users. On the basis of fusion type, fusion type has been bifurcated into Anterior Interbody Fusion, Anterior Cervical Fusion, Posterior Fusion, and Others.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Cervical Fusion Market Research Report
Regional Analysis
The cervical fusion market has been segmented based on region into North America, Europe, Asia Pacific, and Rest of the World. The North American region held the largest market share of 45.42% based on region and is anticipated to dominate the cervical fusion market during the forecast period. Whereas the Europe region is expected to exhibit the highest CAGR from 2022 to 2030.
The major factors driving North America's cervical fusion market include the due to the rising geriatric population, growing occurrence of spinal deformities such as scoliosis, kyphosis, and lordosis across the region. For instance, according to the National Institutes of Health, Americans between the ages of 55 and 64 are more likely to have spinal deformity (US). The US's ageing population benefits the cervical fusion industry since elderly people are more likely than younger ones to have spinal abnormalities.
Furthermore, Due to the presence of significant rivals and an established healthcare infrastructure over the projected period, the regional market will continue to grow. Orthofix Medical Inc. (US) released the M6-C Artificial Cervical Disc in April 2019 for those who have cervical disc degeneration.
Europe held the second-largest market share in 2021. This is due to increased access to modern treatment facilities, government support for the growth of the healthcare sector, an ageing population, and an increase in the number of patients suffering from degenerative disc disease, rheumatic, and osteoarthritis. Moreover, 20 million people in the UK have a musculoskeletal (MSK) condition, with 8.5 million having osteoarthritis, according to Versus Arthritis (UK) statistics from 2021. Due to the older population's propensity for degenerative disc disease, osteoarthritis, and other spinal anomalies, the region's cervical fusion market is expanding at a rapid rate.
Furthermore, industry groups and virtual events help raise awareness of spinal abnormalities and other cervical spine problems. For instance, DePuy Synthes (US), NuVasive, Inc. (US), Medtronic plc (Ireland), Spine Innovations (France), and other significant businesses sponsored the 36th Annual Meeting of Cervical Spine Research Society–Europe from September 29th to October 1st, 2021, to address cervical spondylosis.
Asia Pacific is the fastest-growing regional market for global cervical fusion market during the forecast period owing to the factors such as ageing population, developing healthcare infrastructure, an increase in degenerative disc disorders and osteoarthritis, a fast growing medical tourism industry, and rising healthcare expenditures in the region. For instance, India is the favored destination for medical travelers due to the availability of surgeons, cutting-edge technology, & cost-effective treatments. Hence, Asia-Pacific is anticipated to register the highest growth rate over the forecast period from 2022 to 2030.
Key Findings of the Study