Allied Market Research: The global interbody fusion cage market will reach $2.3 billion by 2023

Recently, the arterial network learned through foreign media information, Allied Market Research released a product called "intervertebral cage market products (lumbar, cervical, thoracolumbar and thoracic vertebrae), type of surgery (anterior, transforaminal, posterior And sideways) and end users (hospitals, clinics, outpatient surgery centers and others): Global Opportunity Analysis and Industry Forecast, 2017-2023. The article shows that the global interbody fusion cage market accounted for 1.89 billion US dollars in 2017, and is expected to reach 2.3 billion US dollars by 2023, with a compound annual growth rate of 3.4% from 2018 to 2023. The Arterial Network (public number: vcbeat) compiled the subject matter of the article for you:

In 2017, the lumbar interbody fusion cage market accounted for the highest share of the total market of about 30%, and is expected to maintain an advantage throughout the forecast period. This is due to the increasing popularity of lumbar fusion technology as it demonstrates positive long-term clinical outcomes and its effectiveness in treating spinal disorders. However, from 2018 to 2023, the thoracic interbody fusion cage market will grow at a compound annual growth rate of up to 3.8%. Due to the short hospital stay and low complication rate, minimally invasive direct thoracic interbody fusion (MIS-DTIF) surgery is less expensive than open surgery. This factor is expected to provide a profitable opportunity for the future market. The report also analyzed other products, such as cervical and thoracolumbar interbody fusion cages.

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The anterior interbody fusion cage accounts for 31% of the total market share in 2017 and will maintain its leading position until 2023. However, the interbody fusion cage is expected to grow at a compound annual growth rate of 3.8% from 2018 to 2023. This is due to the advantages of transforaminal lumbar interbody fusion (TLIF), such as the possibility of reducing dura mater or nerve damage. The report analyzed other types of interbody fusion cages, including the posterior and lateral sides.

The compound interbody fusion cage market is expected to have a compound annual growth rate of 3.8% during the study period, as the clinic provides a safe, economical, and patient-friendly place for interbody fusion. In addition, they have been using more advanced technologies and facilities, which are necessary for posterior interbody fusion surgery. However, the hospital interbody fusion cage market accounts for 40% of the 2017 market share and is expected to maintain its leading position by 2023. This is due to the need for patients to be hospitalized to avoid and manage several postoperative complications that occur during surgery. The study also analyzed various end users, such as outpatient surgery centers.

North America accounted for 43% of the market in 2017 due to increased elderly population, increased awareness of interbody cage devices, increased prevalence of spinal disease and the introduction of innovative technologies such as sports protection equipment in the region. It will continue to dominate throughout the forecast period. However, due to the increase in the elderly population, technological advances, increased incidence of spinal disease in the Asia-Pacific region, and low surgical costs in countries such as India, the Asia-Pacific region will grow at a compound annual growth rate of up to 6.6%.