Interbody Fusion Cage Market to Reach $2.30 Bn, Globally, by 2023 at 3.4% CAGR, Says Allied Market Research

PORTLAND, Oregon, November 21, 2018 /PRNewswire/ --

Rise in geriatric population, increase in incidence of spinal and sports-related injuries, and benefits associated with interbody fusion cage surgeries would drive the growth of the global interbody fusion cage market  

Allied Market Research published a report, titled, Interbody Fusion Cage Market by Product (Lumbar, Cervical, Thoraco-lumbar, and Thoracic), Surgery Type (Anterior, Transforaminal, Posterior, and Lateral), and End User (Hospital, Clinic, Ambulatory Surgical Center, and Others): Global Opportunity Analysis and Industry Forecast, 2017-2023. The report offers extensive analyses of the top impacting factors, drivers & opportunities, market size & estimations, key market segments, and competitive landscape. According to the report, the global interbody fusion cage market accounted for $1.89 billion in 2017 and is estimated to reach $2.30 billion by 2023, growing at a CAGR of 3.4% from 2018 to 2023.

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Surge in geriatric population and rise in incidence of spinal and sports injuries drive the growth of the market. Moreover, growing demand for interbody fusion cage surgeries due to advantages such as direct decompression of nerves and reconstruction of the spine supplements the growth of the market. However, high costs associated with spinal fusion surgeries, lack of trained professionals, and stringent rules & regulations to use such devices hamper the market growth. Conversely, launch of novel interbody fusion cages with new compatible materials create new opportunities in the market.

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Lumbar segment to remain dominant, thoracic segment to grow the fastest by 2023 

The lumbar segment captured the highest share of about 30% in 2017 and is expected to remain dominant throughout 2023. This is attributed to the growing popularity of lumbar spine fusion techniques due to their ability to provide long-term clinical outcomes and their effectiveness in treating spinal disorders. However, the thoracic segment would grow at the fastest CAGR of 3.8% from 2018 to 2023. Direct thoracic interbody fusion (MIS-DTIF) surgeries are less expensive than open surgeries due to short hospitalization and low complication rates. This factor is expected to offer lucrative opportunities to the market in future. The report also analyzes other products such as cervical and thoraco-lumbar.