By 2027, the worldwide spinal fusion devices market is projected to reach $8.9 billion, according to Emergen Research.
Four insights:
1. Market growth is expected to be driven by advancements in surgical technology that improves the efficiency of spinal fusion, leading to increased adoption.
2. Minimally invasive options such as robotic spine surgery, which lead to less pain, quicker recoveries and shorter hospital stays, are a significant contributor to market growth, according to the report.
3. Risks and high costs of spinal fusions are anticipated to stifle demand for devices.
4. Strict government regulations on device approval could also hamper market growth.