Spine

Interbody Fusion Cage Market to Hit $3.01 Billion by 2030 at 4.7% CAGR, Says Allied Market Research

Rise in demand for interbody fusion cage surgeries and increase in geriatric population coupled with surge in spinal cord injuries have boosted the growth of the global interbody fusion cage market.

PORTLAND, Ore., March 17, 2022 /PRNewswire/ — Allied Market Research recently published a report, titled, “Interbody Fusion Cage Market by Product Type (Lumbar Cage, Cervical Cage, Thoraco-lumbar Cage, and Thoracic Cage), Surgery (Anterior, Posterior, Lateral, and Transforaminal), and End User (Hospitals & Clinics, Ambulatory Surgical Centers, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030.” As per the report, the global interbody fusion cage industry generated $1.90 billion in 2020, and is projected to reach $3.01 billion by 2030, growing at a CAGR of 4.7% from 2021 to 2030.

Drivers, restraints, and opportunities

Rise in demand for interbody fusion cage surgeries and increase in geriatric population coupled with surge in spinal cord injuries have boosted the growth of the global interbody fusion cage market. However, high cost associated with spinal fusion surgeries and lack of skilled professionals hinder the market growth. On the contrary, surge in disposable income in developing countries would unlock new opportunities in the future.

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Impact of Covid-19 on Interbody Fusion Cage Market-

  • The Covid-19 pandemic hampered the market due to strict social distancing measures imposed by governments and overwhelmed healthcare facilities with Covid-19 patients.
  • Several clinics and hospitals were closed during the pandemic and healthcare professionals advised patients to postpone major surgeries. This reduced the demand for interbody fusion cage market.

Get detailed COVID-19 impact analysis on the Interbody Fusion Cage Market- https://www.alliedmarketresearch.com/request-for-customization/3741?reqfor=covid

The apple flavored segment dominated the market

By product type, the lumbar cage segment held the lion’s share in 2020, accounting for nearly two-fifths of the global interbody fusion cage market, due to rise in cervical fusion surgeries and elimination of need of bone grafting and plate replacement. However, the thoracic cage segment is projected to portray the highest CAGR of 6.6% during the forecast period, due to rise consumer awareness regarding thoracic cage treatment in developed and developing countries.

The ambulatory surgical centers segment to register the highest CAGR through 2030

By end user, the ambulatory surgical centers segment is anticipated is estimated to register the highest CAGR of 5.0% from 2021 to 2030, due to high incidence rate of spinal injuries and sport injuries. However, the hospital and clinics segment held the lion’s share in 2020, contributing to more than half of the global interbody fusion cage market, due to rise in number of spinal fusions performed at hospitals.

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North America held the lion’s share

By region, the global market across North America held the largest share in 2020, accounting for nearly two-fifths of the market, due to rise in expenditure on R&D activities, presence of major players & product availability, and well-established healthcare infrastructure in the region. However, the global interbody fusion cage market across Asia-Pacific is anticipated to register the highest CAGR of 6.0% during the forecast period, due to improvement in R&D facilities, disposable income, and developing economic conditions.

Key market players

  • Aurora Spine, Inc.
  • B. Braun Melsungen AG
  • Benvenue Medical Inc
  • Prodorth
  • Ulrich Medicals
  • Orthofix
  • Medtronic Plc
  • Zimmer Biomet Holdings, Inc.
  • NuVasive, Inc.
  • Johnson & Johnson

Official Press Release- https://www.alliedmarketresearch.com/press-release/interbody-fusion-cage-market.html

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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SOURCE Allied Market Research

Chris J. Stewart

Chris currently serves as President and CEO of Surgio Health. Chris has close to 20 years of healthcare management experience, with an infinity to improve healthcare delivery through the development and implementation of innovative solutions that result in improved efficiencies, reduction of unnecessary financial & clinical variation, and help achieve better patient outcomes. Previously, Chris was assistant vice president and business unit leader for HPG/HCA. He has presented at numerous healthcare forums on topics that include disruptive innovation, physician engagement, shifting reimbursement models, cost per clinical episode and the future of supply chain delivery.

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