The worldwide spinal fusion market is expected to see a compound annual growth rate of 3 percent from 2021-26, according to a Jan. 25 report from Research and Markets.
Four things to know:
1. The global spinal fusion market is forecast to reach $8.5 billion by 2026. In 2019, the market was at $6.9 billion.
2. Key growth drivers include the rising aging population, increased workload and complexity in work structure and advancing technological advancements in healthcare.
3. Older people are the primary patients for spinal fusion. However, the report points to work-from-home arrangements as a primary reason for younger adults to seek spinal fusion treatments.
4. The report profiled six medtech companies in the market: Johnson & Johnson, Alphatec, Globus Medical, Orthofix, Zimmer Biomet and NuVasive.