Allied Market Research: Global Spinal Interbody Fusion Cage Market to Reach $2.3 Billion by 2023

Recently, VCBeat (WeChat Official Account: vcbeat) learned from foreign media sources that Allied Market Research published a report titled “Interbody Fusion Devices Market by Product (Lumbar, Cervical, Thoracolumbar, and Thoracic), Procedure Type (Anterior, Transforaminal, Posterior, and Lateral), and End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others): Global Opportunity Analysis and Industry Forecast, 2017–2023.” The report indicates that the global interbody fusion devices market was valued at $1.89 billion in 2017 and is projected to reach $2.3 billion by 2023, representing a compound annual growth rate (CAGR) of 3.4% from 2018 to 2023. VCBeat has compiled the key highlights of this report for your reference:

In 2017, the lumbar interbody fusion cage market held the largest share of approximately 30% of the total market and is expected to maintain its dominance throughout the forecast period. This is attributed to the increasing adoption of lumbar fusion techniques, owing to their demonstrated positive long-term clinical outcomes and effectiveness in treating spinal disorders. However, from 2018 to 2023, the thoracic interbody fusion cage market is projected to grow at the highest compound annual growth rate (CAGR) of 3.8%. Minimally invasive direct thoracic interbody fusion (MIS-DTIF) procedures are less costly than open surgeries due to shorter hospital stays and lower complication rates. This factor is expected to create lucrative opportunities for the market in the future. The report also analyzes other products, such as cervical and thoracolumbar interbody fusion cages.

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Anterior interbody fusion cages accounted for 31% of the total market share in 2017 and are expected to maintain their leading position through 2023. However, transforaminal interbody fusion cages are projected to grow at the fastest compound annual growth rate (CAGR) of 3.8% from 2018 to 2023. This growth is attributed to the advantages of transforaminal lumbar interbody fusion (TLIF), such as a reduced risk of dural or nerve injury. The report also analyzes other approaches to interbody fusion cages, including posterior and lateral.

The interbody fusion device market in clinics is projected to register the fastest compound annual growth rate (CAGR) of 3.8% during the study period, as clinics offer a safe, cost-effective, and patient-friendly setting for spinal fusion procedures. Furthermore, they have been adopting more advanced technologies and facilities, which are also essential for posterior lumbar interbody fusion surgery. However, the hospital segment accounted for a 40% share of the interbody fusion device market in 2017 and is expected to maintain its leading position through 2023. This is attributed to the need for patient hospitalization to prevent and manage various postoperative complications arising during surgery. The study also analyzes various end users, such as ambulatory surgical centers.

Driven by the growing elderly population, increased patient awareness of interbody fusion devices, rising prevalence of spinal disorders, and the introduction of innovative technologies such as motion preservation devices in the region, North America accounted for a 43% market share in 2017 and is expected to maintain its dominance throughout the forecast period. However, the Asia-Pacific region is projected to register the highest compound annual growth rate (CAGR) of 6.6%, fueled by an aging population, technological advancements, increasing incidence of spinal disorders, and lower surgical costs in countries such as India.