In 2016, the interbody fusion cage market was estimated at $1.82 billion, according to a Research Beam report.
Here are four observations:
1. The market is expected to reach $2.31 billion by 2023, increasing at a 3.4 percent compound annual growth rate.
2. The rise in the geriatric population and recent technological advancements are predicted to push the market growth during the forecast period. Additionally, the market is seeing an increased demand for interbody cages.
3. However, the market will need to overcome high associated costs with spinal fusion procedures.
4. A few key market competitors include Zimmer Biomet, Medtronic, DePuy Synthes and Aurora Spine.