Here are eight things to know about the spinal fusion market.
1. There are around 1.62 million instrumented spinal fusions performed in the U.S. every year, according to an iData Research report. However, the National Center for Health Statistics puts the number of spinal procedures in the U.S. at 1.2 million.
2. Interbody fusions are the most common spinal fusions, with about 352,000 performed every year, according to iData Research.
3. Cervical fixation is another high-volume procedure, and in 2017 85.5 percent of the cervical fusions were from the anterior approach, according to the iData Research report. The remaining were performed through the posterior approach.
4. The average cost per lumbar spinal fusion surgery is $80,000, according to a National Center for Health Statistics report, as noted by HealthTrust.
5. Biologics are used in 15 percent of lumbar spinal fusions and 3.6 percent of cervical spinal fusions, according to a HealthTrust report.
6. At value-designated centers of excellence programs, adjusted episodic cost per surgery is:
• Lumbar discectomy and decompression: 16 percent lower ($3,157)
• Cervical simple fusion: 19 percent lower ($6,784)
• Lumbar simple fusion: 18 percent lower ($11,134)
This data was gathered from a Managed Care study titled "Finding the Value in Value-Designation: Evidence and Opportunity in the United States."
7. The global spinal fusion device market was valued at $6.37 billion in 2018 and is expected to reach $8.45 billion by 2026, which is a 3.6 percent compound annual growth rate, according to Fortune Business Insights.
8.The robotic spine surgery market is expected to have a compound annual growth rate of around 33.6 percent from 2019 to 2024, according to a Market Study Report. The report also noted that there are about 96 spinal robotic units sold in the U.S. in 2017, which had 67 percent of the market share. The market is expected to reach $380 million by 2024.