The global spinal fusion market is anticipated to reach $9 billion by 2023, based on GlobalData research.
Here are five highlights:
1. Valued at $7.1 billion in 2016, the market will likely grow at a compound annual growth rate of 3.4 percent through 2023.
2. The global market, spanning 39 countries, is driven by the increasing number of degenerative spinal condition cases and more technological advancements in spinal fusion.
3. For symptomatic degenerative disc disease in the cervical spine, surgeons often perform anterior cervical discectomy and fusion, as the procedure is backed by significant studies.
4. The spinal fusion market may take a hit from the concern about medically unnecessary surgeries, however. Medicare reported more than $200 million was likely spent in the United States on "improperly indicated spinal fusion procedures in 2011."
5. The European spinal fusion market will see growth throughout the forecast period, as there are fewer roadblocks for surgeons to perform surgery. Surgeons need not document more non-conservative therapy before performing surgery, to receive reimbursement.