At 6.6% CAGR, the Asia Pacific Spinal Fusion Devices Market is Projected to be Worth US$ 3,058.01 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the Asia Pacific spinal fusion devices market was valued at US$ 1,840.24 in 2022 and is expected to reach US$ 3,058.01 million by 2030, registering a CAGR of 6.6% from 2022 to 2030. 3D printing for spinal fusion products for spinal surgery and low-cost surgery under medical tourism are among the critical factors attributed to the Asia Pacific spinal fusion devices market expansion.

Evolution in medical technology has allowed several innovations in the spinal industry. Developments have allowed robotic surgery in the spine surgery arena, which has received much attention. 3D printing is expanding its footprint in medical devices to offer effective implants. Companies have already begun developing 3D-printed implants for spinal fusion and have commercialized them. In July 2021, Orthofix Medical launched its 3D-printed orthopedic device, FORZA Ti PLIF Spacer System. The system is designed for posterior lumbar interbody fusion (PLIF) surgeries. At the launch of the FORZA Ti PLIF Spacer system, the company also announced the first patient implant using the lumbar interbody device. Similarly, in April 2021, the company launched the Construx Mini Ti spacer system for anterior cervical discectomy and fusion procedures. Many companies have lined up to launch their 3D-printed products. Developments allow patient-specific 3D-printed implants to increase potential benefits to surgical outcomes. In June 2022, Aurora Spine received FDA’s 510(k) clearance for its Dexasolo-L spinal fusion system. The Dexasolo-L spinal fusion system is designed and personalized using the patient’s bone density and quality. The system is the first in the market for lumbar spine and is expected to be launched soon. Thus, personalized 3D-printed implants will enable increasing minimally invasive approaches for complex deformities and reduce patient risks, promoting positive results. The advantages of 3D-printed technology will improve the safety and efficiency of spine surgery. It will permit surgeons to pre-plan surgery based on preoperative imaging. The other advantage of 3D printed implants is that they will reduce the stress of the screw-bone interface, resulting in the minimum risk of implant failure and non-union. Thus, 3D printing technology is expected to hold a promising future once the use of 3D printed implants is in regular use.

On the contrary, stringent regulations for spinal fusion devices hampers the growth Asia Pacific spinal fusion devices market.

Based on product type, the Asia Pacific spinal fusion devices market is segmented into thoracolumbar devices, cervical fixation devices, and interbody fusion devices. The thoracolumbar devices segment held 44.7% share of the Asia Pacific spinal fusion devices market in 2022, amassing US$ 822.86 million. It is projected to garner US$ 1,341.00 million by 2030 to expand at 6.3% CAGR during 2022–2030.

By surgery type, the Asia Pacific spinal fusion devices market is bifurcated into open spine surgery and minimally invasive spine surgery. The open spine surgery segment held 71.8% share of the Asia Pacific spinal fusion devices market in 2022, amassing US$ 1,322.06 million. It is projected to garner US$ 1,926.41 million by 2030 to expand at 4.8% CAGR during 2022–2030.

By disease indications, the Asia Pacific spinal fusion devices market is segmented into degenerative disc, trauma and fractures, complex deformity, and others. The degenerative disc segment held 71.4% share of Asia Pacific spinal fusion devices market in 2022, amassing US$ 1,313.72 million. It is projected to garner US$ 2,255.93 million by 2030 to expand at 7.0% CAGR during 2022–2030.

In terms of end users, the Asia Pacific spinal fusion devices market is categorized into hospitals, specialty clinics, and others. The hospitals segment held 59.1% share of Asia Pacific spinal fusion devices market in 2022, amassing US$ 1,086.91 million. It is projected to garner US$ 1,850.38 million by 2030 to expand at 6.9% CAGR during 2022–2030.

Based on country, the Asia Pacific spinal fusion devices market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China held 27.1% share of Asia Pacific spinal fusion devices market in 2022, amassing US$ 498.06 million. It is projected to garner US$ 882.10 million by 2030 to expand at 7.4% CAGR during 2022–2030.

Key players operating in the Asia Pacific spinal fusion devices market are ATEC Spine Inc, B. Braun SE, DePuy Synthes Inc, Globus Medical Inc, Medtronic Plc, NuVasive Inc, Stryker Corp, and ZimVie Inc, among others.                                                                

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