At 5.8% CAGR, the North America Spinal Fusion Devices Market is Projected to be Worth US$ 6,075.64 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the North America spinal fusion devices market was valued at US$ 3,868.93 in 2022 and is expected to reach US$ 6,075.64 million by 2030, registering a CAGR of 5.8% from 2022 to 2030. Low-Cost surgery under medical tourism and increasing developments in spinal technology by spine device companies are among the critical factors attributed to the North America spinal fusion devices market expansion.

Spinal fusion surgeries are much costlier; many patients slide back from the decision to undergo spinal surgeries. Also, in many cases, the cost of spinal implants is not covered under health insurance plans, limiting the number of surgeries. For instance, a country like the US is expensive; according to the Healthcare Bluebook data published in February 2022, the top 5 cities are listed with the cost of lumbar spinal fusion: Denver: US$ 86,182, San Jose, California: US$ 78,809 San Francisco: US$ 78,809, Indianapolis: US$ 77,269, and Seattle: US$ 74,499. At the same time, the least cost for lumbar spinal fusion is ~ US$ 48,000 in cities such as Memphis, Tenn, and San Antonio. On the other hand, medical tourism has enabled to offer spinal fusion surgeries at cheaper costs. Countries in developing regions have significantly developed medical tourism and have advanced technologies that provide world-class medical services at cheaper rates. Offering critical surgeries at cheaper costs increases patient flow to these countries for their medical treatments. Also, the availability of advanced medical techniques and increasing government funding to increase medical tourism are leading to the increasing demand for advanced surgical implants. Further, the advancing healthcare infrastructure in developing countries will likely continue the demand for advanced medical devices, enhancing growth opportunities for the North America spinal fusion devices market.

On the contrary, stringent regulations for spinal fusion devices hampers the growth North America spinal fusion devices market.

Based on product type, the North America spinal fusion devices market is segmented into thoracolumbar devices, cervical fixation devices, and interbody fusion devices. The thoracolumbar devices segment held 43.8% share of the North America spinal fusion devices market in 2022, amassing US$ 1,696.51 million. It is projected to garner US$ 2,614.21 million by 2030 to expand at 5.6% CAGR during 2022–2030.

By surgery type, the North America spinal fusion devices market is bifurcated into open spine surgery and minimally invasive spine surgery. The open spine surgery segment held 73.9% share of the North America spinal fusion devices market in 2022, amassing US$ 2,861.02 million. It is projected to garner US$ 3,974.86 million by 2030 to expand at 4.2% CAGR during 2022–2030.

By disease indications, the North America spinal fusion devices market is segmented into degenerative disc, trauma and fractures, complex deformity, and others. The degenerative disc segment held 70.5% share of North America spinal fusion devices market in 2022, amassing US$ 2,727.43 million. It is projected to garner US$ 4,414.45 million by 2030 to expand at 6.2% CAGR during 2022–2030.

In terms of end users, the North America spinal fusion devices market is categorized into hospitals, specialty clinics, and others. The hospitals segment held 58.8% share of North America spinal fusion devices market in 2022, amassing US$ 2,275.56 million. It is projected to garner US$ 3,661.90 million by 2030 to expand at 6.1% CAGR during 2022–2030.

Based on country, the North America spinal fusion devices market is segmented into the US, Canada, and Mexico. The US held 83.6% share of North America spinal fusion devices market in 2022, amassing US$ 3,234.83 million. It is projected to garner US$ 5,182.45 million by 2030 to expand at 6.1% CAGR during 2022–2030.

Key players operating in the North America spinal fusion devices market are ATEC Spine Inc, B. Braun SE, Centinel Spine LLC, DePuy Synthes Inc, Globus Medical Inc, Medtronic Plc, NuVasive Inc, Orthofix Medical Inc, Stryker Corp, and ZimVie Inc, among others.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com