Source: GlobalData
PEEK interbody devices set to lead spinal fusion market, says GlobalData
Posted in Medical Devices
Innovation in the global spinal fusion market is driven largely by advancements in navigation and imaging technologies. These innovations have enhanced surgeons’ abilities to accurately identify the source of back pain and to visualize the surgical area during a procedure, improving the precision of spinal fusion operations. Currently, pedicle screw systems hold the largest share of the global spinal fusion market. However, interbody devices, particularly those made from PEEK (polyether ether ketone), are quickly catching up and set to dominate the spinal fusion market, says GlobalData, a leading data and analytics company.
According to GlobalData, interbody devices have shown steady growth in recent years, with devices using PEEK technology showing the strongest growth. This trend is expected to continue, with the global PEEK interbody market registering a compound annual growth rate (CAGR) of 5.9% during 2023-33.
Thomas Fleming, Medical Analyst at GlobalData, comments: “In comparison, the overall global spinal fusion market is predicted to experience a CAGR of 2.3% over the same period, indicating relatively strong growth for PEEK interbody devices. These projections suggest that while traditional devices maintain their impact on the market, interbody devices will play an increasingly significant role in shaping the future of spinal fusion.”
Spinal fusion is primarily used to decompress and stabilize the spine, in the lumbar, cervical, and thoracic regions. Indications for spinal fusion include conditions such as degenerative disc disease, spondylolisthesis, spinal stenosis, scoliosis, trauma, and spinal tumors. Lumbar fusions dominate the market, with more than half of the patients being over the age of 50.
Fleming concludes: “The growth in the global spinal fusion market is driven by the increase in the elderly population, particularly in North America. In the US, around 35% of the population is over the age of 50, and spinal fusion procedures are most prevalent among this demographic. With evolving demographics driving the spinal fusion market, developing technologies will define the leading devices in the market.”