The global lateral lumbar interbody fusion market will likely reach $2.56 billion by 2024, based on a Data Bridge Market Research report, according to medGadget.
NuVasive developed the XLIF procedure, which represents the only lateral approach procedure backed by 10+ years of clinical evidence.
Here are six observations:
1. The market is anticipated to grow at a 5.7 percent compound annual growth rate between 2017 and 2024.
2. The XLIF market was valued at $1.64 billion in 2016.
3. An increasing number of minimally invasive procedures, growing prevalence of spinal disorders and a rising geriatric population will boost market growth.
4. The procedure's costliness and unfavorable reimbursement will serve as barriers to market growth.
5. The XLIF interbody cages segment will lead the global XLIF surgery market, accounting for a 75.8 percent market share. The cages segment will capture a 73.3 share in the U.S. market.
6. The hospital segment will dominate the market through 2024.