The global spinal fusion devices market was valued at US$ 7,462.4 million in 2016 and is expected to witness a CAGR of 4.6% over the forecast period (2017 – 2025).
The market is rising due to an increase in the incidence of spinal illnesses and a growing elderly population. As of 2019, around 34.0 percent of the adult population and 62.0 percent of the senior population were impacted by spinal abnormalities, according to the CDC. Trauma, falls, crashes, and traffic accidents are all major causes of spinal fusion injuries.
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The COVID-19 epidemic has had a significant influence on practically every business. The market for spinal fusion devices, like other healthcare markets, has been severely impacted. COVID-19 has resulted in elective procedures being postponed or deferred, a drop in sales, and a slowed growth rate, among other things. The demand for spinal fusion devices and equipment has decreased dramatically as the number of surgical procedures has decreased. Despite the fact that urgent and emergent operations were conducted, the total number of procedures performed fell dramatically. It has been stated that there is a shortage of ICU beds and surgical rooms. In the first two quarters of 2020, industry players saw weak growth and poor net sales.