The global spinal fusion devices market is set to hit nearly $7.44 billion by 2022, based on an Allied Market Research report, according to MarketWatch.
Here are seven observations:
1. In 2015, the market was worth nearly $5.87 billion.
2. The market will grow at a compound annual growth rate of 3.4 percent through 2022.
3. The increasing adoption of minimally invasive spine surgery techniques as well as rising number of spinal disorder cases will spur the market.
4. The thoracolumbar fusion devices segment accounted for the market's highest revenue, capturing more than two-fifths of the global market.
5. The interbody fusion devices segment is anticipated to grow at a CAGR of 3.6 percent through 2022.
6. North America is anticipated to continue dominating the market, but the Asia-Pacific region will grow at a 4.6 percent CAGR through 2022.
7. Key market players include:
- Alphatec Holdings in Carlsbad, Calif.
- B. Braun Melsungen in Melsungen, Germany
- DePuy Synthes in Raynham, Mass.
- Exactech in Gainesville, Fla.
- Globus Medical in Audubon, Pa.
- Medtronic in Dublin, Ireland
- NuVasive in San Diego
- Orthofix International in Lewisville, Texas
- Stryker Corp. in Kalamazoo, Mich.
- Zimmer Biomet in Warsaw, Ind.