a

Global spinal fusion market to hit $9B by 2023: 5 highlights Featured

Written by  Megan Wood | Thursday, 12 January 2017 21:07
Social sharing

The global spinal fusion market is anticipated to reach $9 billion by 2023, based on GlobalData research.

Here are five highlights:

 

1. Valued at $7.1 billion in 2016, the market will likely grow at a compound annual growth rate of 3.4 percent through 2023.

 

2. The global market, spanning 39 countries, is driven by the increasing number of degenerative spinal condition cases and more technological advancements in spinal fusion.

 

3. For symptomatic degenerative disc disease in the cervical spine, surgeons often perform anterior cervical discectomy and fusion, as the procedure is backed by significant studies.

 

4. The spinal fusion market may take a hit from the concern about medically unnecessary surgeries, however. Medicare reported more than $200 million was likely spent in the United States on "improperly indicated spinal fusion procedures in 2011."

 

5. The European spinal fusion market will see growth throughout the forecast period, as there are fewer roadblocks for surgeons to perform surgery. Surgeons need not document more non-conservative therapy before performing surgery, to receive reimbursement.

 

More articles on spine:
Bundled payments, adding surgeons & more: 4 spine surgeons on best career decisions of 2016
8 things for spine surgeons to know for Thursday — Jan. 12, 2017
NASS 2016 outstanding paper: Which modifiable risk factors correlate with chronic back pain?

© Copyright ASC COMMUNICATIONS 2017. Interested in LINKING to or REPRINTING this content? View our policies here.

Top 40 Articles from the Past 6 Months