The spine fusion device market is expected to reach almost $9 billion in the next six years, according to Emergen Research.
Five things to know:
1. The spine fusion device market is expected to be $8.9 billion. In 2019, the market was $6.88 billion.
2. The market is expected to see a compound annual growth rate of 3.5 percent between 2020 and 2027.
3. Advancements in spinal fusion surgeries, increased adoption of minimally invasive spine surgeries and rising cases of spinal deformities are expected to increase revenue.
4. North America is expected to account for the largest revenue share of the spine fusion device market because of increased need for spine care and availability of advanced healthcare technology.
5. Major companies in the market include Braun Melsungen, Alphatec Holdings, Exactech, DePuy Synthes and Medtronic.