Europe Spinal Fusion Devices Market
In recent years, there has been a rise in spinal fusion procedures worldwide due to growing innovations in surgical approaches. Technological developments have offered a wide variety of interbody devices. The newly introduced spinal fusion devices are now used as alternatives in bone grafting materials, increasing the number of spine fusion procedures. The advancements in spinal fusion techniques have allowed the use of pedicle screws for posterior instrumentation, which has leveraged market growth. Similarly, the introduction of spinal fusion methods, with interbody fusion with stand-alone cages and with anterior, lateral, or posterior approaches, designed for different surgical indications and surgeon preferences, and patient conditions have significantly increased the number of spinal fusion procedures.
Over time, the indications for spinal fusion have broadened, leading to increasing spinal fusion procedures. According to a study published in Clinical Orthopaedics and Related Research (CORR) by the Association of Bone and Joint Surgeons published in Wolters Kluwer in February 2023, stated that in Germany the demand for posterior spinal fusion procedures will grow by 80% by 2060. The study also stated that the demand would be seen in patients aged 75 years and above. The projections stated that by 2060, 38,974 posterior spinal fusion procedures would be performed in patients 75 years and above, compared to 14,657 in 2019. The increase in the procedures will be seen due to age-related loss of muscle mass. Thus, considering the projection for spinal fusion procedures, the market is likely to accelerate significantly during the forecast period and will have substantial market growth beyond the forecast period.
The Europe spinal fusion devices market in Germany is likely to grow due to ongoing developments in the medical device industry in the country. The country has the presence of various medical device companies, majorly focusing on developing innovative devices for spine surgery. In June 2022, NGMedical GmbH launched its new ART Fixation System. The ART Fixation System was developed to help surgeons perform dorsal spinal stabilizations simply, quickly, and effectively. Further, there is an increase in the geriatric population suffering from degenerative discs and spinal degeneration due to wear and tear of the spinal cord. According to the World Bank collection of development indicators, in 2022, 22.41% of the population in Germany is aged above 65 years. In addition, the increasing incidence of spinal cord injuries in Germany is fueling the market growth. According to an article published by MDPI, the prevalence rate of traumatic spinal cord injury is ~500 per million inhabitants, and the incidence rate amounts to 13 per million.
The Europe spinal fusion devices market is segmented based on product type, surgery type, disease indications, end user, and country.
Based on product type, the Europe spinal fusion devices market is segmented into thoracolumbar devices, cervical fixation devices, and interbody fusion devices. The thoracolumbar devices segment held the largest share in 2022.
By surgery type, the Europe spinal fusion devices market is bifurcated into open spine surgery and minimally invasive spine surgery. The open spine surgery segment held a larger share in 2022.
By disease indications, the Europe spinal fusion devices market is segmented into degenerative disc, trauma and fractures, complex deformity, and others. The degenerative disc segment held the largest share in 2022.
In terms of end users, the Europe spinal fusion devices market is categorized into hospitals, specialty clinics, and others. The hospitals segment held the largest share in 2022.
Based on country, the Europe spinal fusion devices market is segmented into the UK, Germany, France, Spain, Italy, and the Rest of Europe. Germany dominated the Europe spinal fusion devices market in 2022.
B. Braun SE, Centinel Spine LLC, DePuy Synthes Inc, Globus Medical Inc, Medtronic Plc, NuVasive Inc, Orthofix Medical Inc, Stryker Corp, and ZimVie Inc are some of the leading companies operating in the Europe spinal fusion devices market.
Strategic insights for the Europe Spinal Fusion Devices provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 1,864.52 Million |
| Market Size by 2030 | US$ 2,871.51 Million |
| Global CAGR (2022 - 2030) | 5.5% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Spinal Fusion Devices refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Europe Spinal Fusion Devices Market is valued at US$ 1,864.52 Million in 2022, it is projected to reach US$ 2,871.51 Million by 2030.
As per our report Europe Spinal Fusion Devices Market, the market size is valued at US$ 1,864.52 Million in 2022, projecting it to reach US$ 2,871.51 Million by 2030. This translates to a CAGR of approximately 5.5% during the forecast period.
The Europe Spinal Fusion Devices Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Spinal Fusion Devices Market report:
The Europe Spinal Fusion Devices Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Spinal Fusion Devices Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Spinal Fusion Devices Market value chain can benefit from the information contained in a comprehensive market report.
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