The global spine surgery products market was valued at $2.4 billion in 2017 and is projected to reach $3.15 billion by 2022, according to an Index Market Research report.
Between 2014 and 2017, the market experienced a 2.63 percent compound annual growth rate, increasing from $2.22 million to $2.4 million.
Key market players include Medtronic, DePuy Synthes, NuVasive, Stryker and Globus Medical.
An analysis of the global spinal fusion devices market attributed the rise in market value to various technological advancements and the launch of innovative plating systems. Additionally, as device companies continue to release new screw systems and locking mechanisms designed with titanium alloy and other new materials, the market will maintain momentum.