Global Spinal Fusion Market is projected to exhibit a CAGR of over ~ 4.82% during 2016 – 2021
Date: 13 January 2017
Rising incidences of spinal fusion disorders have led to the demand for minimally invasive procedures combined with technological advancement and increased awareness which are propelling the spinal fusion market.
According to Azoth Analytics research report, “Global Spinal Fusion Market – ProcedureType (Traditional, Minimally Invasive),Procedure Sub-Type (ALIF,PLIF, MITLIF, XLIF) - Analysis By Region, By Country :Opportunities & Forecasts (2016-2021) – (By Sub-Types: Anterior Lumbar Interbody Fusion (ALIF), Posterior Lumbar Interbody Fusion (PLIF), Minimally Invasive Transforaminal Lumbar Interbody Fusion (MITLIF), Extreme Lateral Interbody Fusion (XLIF), Other Techniques; By Region-North America, Europe, APAC, ROW; By Country : USA, Canada, UK, Germany, Japan and China)”, Global Spinal Fusion Market is projected to exhibit a CAGR of over ~ 4.82% during 2016 – 2021, driven by the rising incidences of spinal disorders. Aging population, accidents, sports injuries and a sedentary lifestyle are some of the major precursors of spinal disorders and deformities among the population worldwide. However, factors such as increasing awareness, increasing per capita health expenditure, high purchasing power of the population, and rising government efforts towards spinal disorders has resulted in the demand for spinal fusion.
The market is segmented on the basis of types of spinal fusion procedures between Traditional Open spinal fusion procedures and Minimally Invasive Spinal Fusion procedures and further divided into Anterior Lumbar Interbody Fusion (ALIF), Posterior Lumbar Interbody Fusion (PLIF), Other traditional techniques, Minimally Invasive Transforaminal Lumbar Interbody Fusion (MITLIF), Extreme Lateral Interbody Fusion (XLIF), Other Minimally Invasive Spinal Fusion Techniques. Among the traditional spinal fusion and minimally invasive spinal fusion segments, traditional open spinal fusion is anticipated to show highest share. In the sub-segments of open spinal fusion procedures, ALIF is anticipated to show the highest share, while in the sub-segments of minimally invasive spinal fusion, MITLIF is anticipated to hold the highest share.
Among the regions, North America holds the major market due to a robust healthcare infrastructure combined with focus on development of new devices along with improved diagnosis among the patients within the region.