About Lumbar Spine Fusion
Lumbar spine fusion, a minimally invasive technique and growing adoption for a surgical spinal fusion procedure. It is an effective and safe surgical procedure that makes post-operative recovery quicker and less painful. Moreover, an ongoing demographic shift towards the geriatric population with significant population suffering from inveterate spinal ailments is expected to boost the demand for spinal fusion surgeries.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Lumbar Spine Fusion market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Lumbar Spine Fusion Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
DePuy Synthes (Johnson & Johnson Company) (United States), Medtronic (Ireland), NuVasive Inc. (United States), Stryker Corporation (United States), Zimmer Biomet (United States), Globus Medical Inc. (United States), Alphatec Holdings, Inc. (United States) and Orthofix International N.V. (Netherlands) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are K2M Group Holdings, Inc. (United States), RTI Surgical, Inc. (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Lumbar Spine Fusion market by Type (Anterior lumbar interbody fusion, Lateral lumbar interbody fusion, Posterior lumbar interbody fusion and Others), Application (Hospitals and Ambulatory Surgical Centers) and Region.
On the basis of geography, the market of Lumbar Spine Fusion has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Surgery Type, the sub-segment i.e. Traditional (ALIF, PLIF, Others) will boost the Lumbar Spine Fusion market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material Type, the sub-segment i.e. Non-bone Interbody Fusion Devices will boost the Lumbar Spine Fusion market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Adoption Rate of Minimally Invasive Spinal Surgeries and Technological Advancement in Spinal Surgery by major Market Players
Market Growth Drivers:
Increasing Healthcare Expenditure and Awareness Amongst Consumers in Developing Nations and Growing Prevalence of Lumbar Spinal Deformities due to Accidents Globally
Challenges:
Lack of Adequate Physician and Patient Awareness/Education and Uncertainties in Reimbursement
Restraints:
Stringent Product Approval Process Restraining Growth of Small Enterprises and High Cost of Treatment Procedures
Opportunities:
The Growth in Number of Geriatric Population Suffering from Inveterate Spinal Ailments and Growth in the Number of Hospitals and Surgical Centers Globally, Especifically in Emerging Nations
Market Leaders and their expansionary development strategies
In October 2023, Silony Medical International AG, a growing challenger to "big medtech" in the global spinal fusion market, has completed the acquisition of Centinel Spine's Global Fusion Business. This combines Silony's Verticale® posterior screw & rod fusion Platform, its Roccia® and Favo® Interbody Fusion (IBF) Systems with the STALIF® Technology Platform to create a first in class occiput to sacrum, posterior, lateral and anterior Spinal Fusion Portfolio for open & minimally invasive spinal fusion cases.
In October 2023, NovApproach Spine announced the full market launch of its patented OneLIF interbody spinal fusion system, which supports “a multitude of surgical approaches”, during the 2023 North American Spine Society (NASS) annual meeting (18–21 October, Los Angeles, USA).
Key Target Audience
Spine Surgery Devices Manufacturing Companies, Distributors and Suppliers of Spine Surgery Devices, Healthcare Institutions (Hospitals and Outpatient Clinics) and Research Institutions
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.