At 5.5% CAGR, the Europe Spinal Fusion Devices Market is Projected to be Worth US$ 2,871.51 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the Europe spinal fusion devices market was valued at US$ 1,864.52 in 2022 and is expected to reach US$ 2,871.51 million by 2030, registering a CAGR of 5.5% from 2022 to 2030. Increasing developments in spinal technology by spine device companies and surging number of spinal fusion procedures are among the critical factors attributed to the Europe spinal fusion devices market expansion.

The spine device companies widely adopted innovation, spinoffs, and merger and acquisition developments or strategies. The strategies have helped mark an exponential growth of the Europe spinal fusion devices market in 2022. Below are a few instances of developments made by the companies in 2022.

•          In March 2022, Zimmer Biomet Holdings, Inc. announced a complete spinoff of ZimVie. ZimVie will continue to focus on key growth strategies for the spine and dental markets. The company will develop products, including spinal fusion implants, surgical tools, bone grafts, implants, non-fusion alternatives, and digital care technologies. Due to the spinoff, ZimVie will operate as an independent entity registered on the Nasdaq with the symbol ‘ZIMV.’ Thus, it is expected that ZimVie will significantly enhance the market by holding a good market share.

•          In October 2022, Spineart launched its new minimally invasive spine surgery (MISS) system, PERLA TL MIS. The company’s MISS system is a thoracolumbar posterior fixation system available worldwide. The launch of PERLA TL MIS is anticipated to demonstrate the company’s commitment to transforming spine surgery to benefit its end users: surgeons, patients, and hospitals. Such product launches are likely to drive market growth in the coming future. The trend of developments in the spine industry has continued and witnessed strategic improvements that have fueled the growth of the Europe spinal fusion devices market.

•          In July 2023, Xtant Medical Holdings, Inc. announced that it won certain assets and liabilities of Surgalign Holdings, Inc. related to spinal fixation and domestic and international biologics. Xtant Medical Holdings, Inc. is dedicated to developing spinal implant systems that facilitate spinal fusion in complex spinal deformity degenerative processes. Thus, such developments in spinal technology by spine device companies are catalyzing the market growth.

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

Based on product type, the Europe spinal fusion devices market is segmented into thoracolumbar devices, cervical fixation devices, and interbody fusion devices. The thoracolumbar devices segment held 44.8% share of the Europe spinal fusion devices market in 2022, amassing US$ 834.91 million. It is projected to garner US$ 1,260.75 million by 2030 to expand at 5.3% CAGR during 2022–2030.

By surgery type, the Europe spinal fusion devices market is bifurcated into open spine surgery and minimally invasive spine surgery. The open spine surgery segment held 72.0% share of the Europe spinal fusion devices market in 2022, amassing US$ 1,341.60 million. It is projected to garner US$ 1,811.68 million by 2030 to expand at 3.8% CAGR during 2022–2030.

By disease indications, the Europe spinal fusion devices market is segmented into degenerative disc, trauma and fractures, complex deformity, and others. The degenerative disc segment held 70.7% share of Europe spinal fusion devices market in 2022, amassing US$ 1,319.04 million. It is projected to garner US$ 2,095.44 million by 2030 to expand at 6.0% CAGR during 2022–2030.

In terms of end users, the Europe spinal fusion devices market is categorized into hospitals, specialty clinics, and others. The hospitals segment held 58.9% share of Europe spinal fusion devices market in 2022, amassing US$ 1,097.69 million. It is projected to garner US$ 1,731.62 million by 2030 to expand at 5.9% CAGR during 2022–2030.

Based on country, the Europe spinal fusion devices market is segmented into the UK, Germany, France, Spain, Italy, and the Rest of Europe. Germany held 26.5% share of Europe spinal fusion devices market in 2022, amassing US$ 494.25 million. It is projected to garner US$ 771.32 million by 2030 to expand at 5.7% CAGR during 2022–2030.

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

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