Interbody Fusion Cages Market Statistics 2030
The global Interbody Fusion Cage Market size was valued at $ 1901.67 million in 2020, and is projected to reach $3012.47 million by 2030, registering a CAGR of 4.7% from 2021 to 2030. Interbody fusion cage is an artificial medical device, which is utilized in spinal fusion procedures to maintain foraminal height and decompression. The interbody fusion cage is a large, hollow cylinder made up of metals such as titanium, carbon fiber, or allograft femur. The device is designed as a cage so that bone graft can be placed inside the hollow cylinder to allow a spinal fusion to occur between two vertebrae. Interbody fusion cage is utilized to provide stability to the spine and the cervical region. The cages can be filled with autologous bone material to promote arthrodesis (artificial induction of joint ossification).
The global interbody fusion cages is expected to exhibit significant growth during the forecast period, owing to increase in demand for interbody fusion cage surgeries due to advantages that allow the surgeon to directly decompress nerves and reconstruct the spine. In addition, the key factors driving the market growth are increase in geriatric population and rise in cases of spinal cord injuries, which might be caused due to accidents and diseases such as degenerative disk disease. Moreover, upsurge in disposable income in the developing economies such as India and China contribute toward the growth of the market. However, high cost associated with spinal fusion surgeries, lack of skilled professionals, and increase in disposable incomes in emerging economies restrain the Interbody fusion cages market growth.
The global interbody fusion cages market is segmented into product type, surgery, end user, and region. On the basis of product type, the market is fragmented into lumbar, cervical, thoraco-lumbar, and thoracic. By surgery, it is categorized into anterior, posterior, lateral, and transforaminal. Depending on end user, it is segregated into hospitals & clinics, ambulatory surgical centers, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Impact Of Covid-19 On Interbody Fusion Cage Market (Pre And Post Analysis)
Coronavirus (COVID-19) was discovered in December 2019 in Hubei province of Wuhan city in China. The disease is caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted among humans.
After its discovery in Wuhan, the disease rapidly spread to other parts of the globe. Moreover, this virus causes various symptoms in patients, which range from common symptoms to serious symptoms. For instance, common symptoms include fever, dry cough, and fatigue. However, serious symptoms include difficulty in breathing or shortness of breath, chest pain or pressure, and loss of speech or movement. Furthermore, the virus has high potential of lethality in geriatric population. On March 11, 2020, the World Health Organization made an assessment that COVID-19 can be characterized as pandemic. In addition, only a few vaccines that received emergency approvals for COVID-19 prevention. Thus, social distancing is observed as the most important measure to stop the spread of this disease.
The outbreak of COVID-19 has disrupted workflows in the healthcare sector around the world. The disease has forced a number of industries to shut their doors temporarily, including several subdomains of healthcare. Moreover, there has been a negative effect on various services, including interbody fusion cage industry. For instance, according to the Commonwealth Fund, it was estimated that there was a nearly 60% initial decrease in overall outpatient visits by May 2020 due to COVID-19. This was expected to negatively affect the demand for interbody fusion cage for spinal fusion as they are usually conducted in outpatient departments. In addition, according to article published in Europe PMC, the pandemic has affected outpatient clinics, emergency and elective surgery, rehabilitation, resident training, personnel management, use of personal protective equipment, telemedicine, and all sub-specialties of orthopedics that conduct spinal procedures.
The outbreak of COVID-19 impacted the Interbody fusion cage market, as hospital and healthcare services were significantly reduced due to social distancing measures taken by governments across the world. Moreover, the COVID-19 pandemic affected the global economy and showed a huge impact on the functioning of general hospital care for non-COVID-19 patients in hospitals across the globe. As many hospitals and clinics remain closed due to lockdown, the demand for interbody fusion cage procedures is expected to be subdued in the short term. For instance, according to a study published in the British Journal of Surgery, in May 2020, based on 12 weeks of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide were canceled or postponed in 2020.
By Product Type Segment Review
By product type, the lumbar cage segment was the major revenue contributor in 2020, and is anticipated to continue this trend during the forecast period, owing to increase in cervical fusion surgeries, as they preserve the motion of the spine, do not need bone grafting & cervical disc replacement, and do not require a plate be placed directly in the front of the spine. On the other side, the thoracic cage segment is projected to exhibit the fastest market growth during the forecast period, owing to rise in use of thoracic cage.
By Product Type
Lumbar Cage segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
By Application Segment Review
By application, the anterior segment presently dominates the Interbody fusion cages market, and is expected to remain dominant during the forecast period, owing to ease in accessing the body from the front section.
By Surgery
Anterior segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
By End User Segment Review
By end user, the hospitals segment presently dominates the Interbody fusion cages market, and is expected to remain dominant during the forecast period, owing to increase number of spinal fusion performed at hospitals. Growing government initiatives to improve the healthcare infrastructure and expanding the middle-class population in developing nations such as India are resulting in increasing demand for quality healthcare services delivered by hospitals, thereby aiding segment growth.
By End User
Hospital & Clinics holds a dominant position in 2020 and continue to maintain lead in the forecast year
Region segment review
Region wise, North America dominated the market in 2020, accounting for the highest share, and is anticipated to maintain this trend throughout the forecast period. Owing to the increase in incidence of spinal impairments in the U.S. Furthermore, rise in aging population and increase in product launches in the region are expected to drive the Interbody fusion cages market growth.
By Region
North America holds a dominant position in 2020 and continue to maintain lead in the forecast year
This report provides comprehensive competitive analysis and profiles of prominent market players of Interbody fusion cages market such as Aurora Spine, Inc., B. Braun Melsungen AG, Benvenue Medical Inc., Prodorth, Ulrich Medicals, Orthofix, Medtronic Plc, Zimmer Biomet Holdings, Inc., NuVasive, Inc., and Johnson & Johnson.
Key benefits for stakeholders
- The study provides an in-depth analysis of the global interbody fusion cages market with current trends and future estimations to elucidate the imminent investment pockets.
- Comprehensive quantitative analysis of the industry from 2021 to 2030 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the key segments of the industry helps to understand the products and technologies used globally.
- Key market players and their strategies are provided to understand the competitive interbody fusion cages market outlook.
Interbody Fusion Cage Market Report Highlights
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Analyst Review
According to CXOs, the interbody fusion cage market is projected to witness an increase in forecast period, owing to rapid rise in geriatric population and increase in incidence of spinal injuries. Novel interbody fusion cages have emerged as promising medical devices that provide mechanical support as well as offer stabilization to the spine. Moreover, the launch of innovative interbody fusion cages and rise in demand for minimally invasive surgeries are projected to further aid in supplementing the market growth. However, the cost associated with spinal fusion devices and surgeries are higher that impedes the growth of interbody fusion cage market. However, increased adoption of minimally invasive surgeries is expected to further create lucrative opportunities in the market.
Moreover, Asia-Pacific is anticipated to grow at a fast pace, owing to its high population base and significant increase in spinal injuries. In addition, surge in medical tourism, growth in disposable income, and rise in awareness among patients toward advanced interbody fusion devices boost the market growth in this region. Moreover, the medical device companies such as Titan Spine, Inc., and K2M have penetrated Asia-Pacific and launched several interbody fusion devices.
The total market value of Interbody Fusion Cages Market is $3,012.47 Million in 2030
The forecast period in the report is from 2021 to 2030
The market value of Interbody Fusion Cage in 2020 was 1,901.67 million in 2020
The base year for the report is 2020
Yes, Interbody Fusion Cage Market companies are profiled in the report
The top companies that hold the market share in Interbody Fusion Cage Market are Aurora Spine, Inc., B. Braun Melsungen AG, Benvenue Medical Inc., Prodorth, Ulrich Medicals
No, there is no value chain analysis provided in the Interbody Fusion Cage Market report
The key trends in the Interbody Fusion Cage Market are increase in prevalence of spinal cord disorders along with rise in elderly population are the key factors driving the market growth.t
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