Growing at a compound annual growth rate of 3.4 percent, the global spinal fusion devices market is projected to reach $7.435 million by 2022, according to medGadget.
Here are seven highlights:
1. In 2015 the market was valued at $5.867 million.
2. The global spinal fusion devices market is driven by minimally invasive spine surgery techniques and rise in incidence of spinal disorders.
3. The thoracolumbar fusion devices segment accounted for more than 40 percent share of the global market and is expected to grow at a compound annual growth rate of 3.6 percent.
4. France and Germany accounted for nearly 40 percent shares of the European spinal fusion devices market in 2015.
5. North America accounted for the majority revenue share in 2015 and is expected to maintain this trend.
6. Improving healthcare infrastructure and an increase in expenditures in the emerging markets have bolstered the global market growth.
7. Major companies, including Alphatec Holdings, B. Braun Melsungen AG and DePuy Synthes, are focused on expanding their business operations in the fast-growing economies by adopting the product launch strategy.