The Global Spinal Fusion Devices Industry Analysis by BIS Research projects the market to grow at a significant CAGR of 5.40% during the forecast period of 2019 to 2028.
According to a new market intelligence report by BIS Research, titled “Global Spinal Fusion Devices Market – Analysis & Forecast 2018-28”, The global spinal fusion devices market was valued at $7,519.5 million in 2018 and is expected to reach $12,728.6 million in 2028, registering a CAGR of 5.40% during the forecast period between 2019 and 2028.
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The global spinal fusion devices market has been currently witnessing a moderate growth and is expected to continue to grow with a CAGR of 5.40% during the forecast period, 2019-2028. This growth has been primarily attributed to the major drivers in this market such as increasing prevalence of spinal disorders, increasing number of spinal fusion surgeries, growing geriatric population, increasing rate of obesity, and increase in road injuries, sport injuries, and fall.
The market is expected to grow at a significant growth rate due to opportunities that lie within its domain, which include a massive scope for adoption of spinal fusion devices in emerging nations, technological advancements in spinal surgeries, continuous launch of new product launches and growing number of hospitals and ambulatory centers. However, there are significant challenges which are restraining the market growth.
These restraining factors include increased regulatory scrutiny, product recalls, complications and risks associated with spinal fusion surgeries, and high initial cost and cost of procedure.
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Key Questions Answered in this Report:
- What is the estimated global spinal fusion devices market size in terms of revenue from 2018-2028?
- What are the major market drivers, challenges, and opportunities in the global spinal fusion devices market?
- How is each segment of the global spinal fusion devices market expected to grow during the forecast period, and what revenue is expected to be generated by each of the segments by the end of 2028?
- What are the key developmental strategies implemented by the key players to stand out in this market?
- Which product segment is expected to register the highest CAGR for the spinal fusion devices market during the forecast period?
- Which geographical region is expected to contribute to the highest sales of the spinal fusion devices during the forecast period?
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