The global market for spinal fusion is forecast to increase from $7.1bn in 2016 to $9bn by 2023, according to a report by GlobalData.
Titled ‘MediPoint: Spinal Fusion – Global Analysis and Market Forecasts’, the report, which covers 39 markets, projects technology improvement to play a key role in the growth of the spinal fusion market.
The spinal fusion market principally includes spinal plating systems, interbody devices, vertebral body replacement devices, and pedicle screw systems. It is anticipated to be driven primarily by the increase in aging-related degenerative spinal conditions, technological advancements in spinal fusion surgeries, and increased use of minimally-invasive techniques.
Surgical procedures such as expendable interbody cages and navigation systems, and anterior cervical discectomy and fusion have emerged as some of the most popular options for surgical intervention. Fusion surgery, particularly, has demonstrated better outcomes when compared to conservative care alone or decompression surgery.
Despite the benefits demonstrated by fusion surgery, the US healthcare system is cautious in allowing spinal fusion therapies as data indicates increase in unnecessary surgeries. More than $200m was spent in 2011 on improperly indicated spinal fusion procedures, according to estimates by Medicare.
To curb the number of procedures being performed, the government has initiated a number of new measures such as proper documentation and justification complying with the insurer’s policies, which are expected to slow the growth rate of the procedures in the future.
The market is expected to witness growth in regions where such measures have not been imposed. In Europe, for instance, surgeons have the autonomy to perform procedures as they seem fit, which is expected to result in the growth of spinal fusion procedures in the region.