The global lumbar spine fusion market is set to grow at a compound annual growth rate of 4.9 percent through the next four years, based on an Absolute Reports analysis, according to Green Mountain Outlook.
Here are five observations:
1. A growing number of spinal disorder cases as well as the increasing demand for minimally invasive spine surgeries will drive market growth.
2. The increasing popularity of physician-owned ambulatory surgery centers will also spur growth in the lumbar spine fusion market.
3. Market barriers include lumbar fusions' complications and risks as well as costliness. Poor reimbursements will also deter market growth.
4. Global market trends include technological advancements; merger and acquisition activity; and vendors' use of surface modified titanium in implants.
5. Key market players include:
• DePuy Synthes
• Medtronic
• NuVasive
• Stryker
• Zimmer Biomet