India Spinal Fusion Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.40 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Spinal Fusion Devices Market Analysis
The major factors responsible for the growth of the Indian spinal fusion devices market include the growing geriatric population in India, rising incidences and prevalence of spinal problems, and rising medical tourism. These factors are also expected to contribute to the growth of this market during the forecast period.
- India has an increasing prevalence of spine disorders, and according to the World Spine Day 2017 Insights Report, every fifth Indian in the age of 20-30 years suffers from various types of spinal ailments.
- AOSpine, one of the world's leading spine societies, has stated that India witnesses more than 200,000 cases of spinal injuries each year, among which, 30,000 are related to spinal cord injury and paralysis of various degrees.
- The cities that are affected by spine problems are New Delhi, Mumbai, Bengaluru, and Pune. A survey conducted by the QI Spine Clinic during 2017 indicated that 46% of Bengaluru's population in the age-group of 16-34 years reported spinal issues, and this makes it the city with the highest number of problems among the four cities. Bengaluru is followed by Delhi at 43%, Mumbai at 41%, and Pune at 38%. There were 20,000 people who were surveyed to understand the overall number of people suffering from spinal ailments in the major cities.
- Medical tourism is further a major driving factor for the spinal fusion devices market. In India, the prices of the spinal fusion devices and the respective spinal surgeries are low, as compared to the other countries. Therefore, numerous patients are travelling from across the world to India for treatment and spinal surgeries.
India Spinal Fusion Devices Market Trends
This section covers the major market trends shaping the India Spinal Fusion Devices Market according to our research experts:
Minimally Invasive Spine Surgery is Expected to Register a Healthy Growth Rate
The minimally invasive spine surgery segment is expected to be the fastest-growing segment, owing to the benefits associated with the surgery, such as the reduction in blood loss during or after surgery, reduced post-operative pain and risk of infection, reduced risk of muscle and tissue damage (since there is less or no muscle cutting required), and others. Thus, because of these benefits, a higher number of people are opting for minimally invasive spinal surgeries. Surgeons can perform various types of spine surgery procedures using minimally invasive methods, such as spinal fusion, decompression, interbody cage fusion, discectomy and microdiscectomy, laminotomy, and laminectomy, among others.
India Spinal Fusion Devices Industry Overview
The Indian spinal fusion devices market is dominated by a few major players. These enterprises are already competitors and the existing players are competing with each other on various fronts, such as the introduction of new products, increasing geographical penetration, and enhancing distribution channels. The high competition is expected to drive the merger and acquisition activities, thereby leading to market consolidation in a few business segments.
India Spinal Fusion Devices Market Leaders
Globus Medical Inc.
Matrix Meditec Pvt Ltd
Medtronic PLC
Zimmer Biomet Holdings Inc.
Johnson and Johnson
*Disclaimer: Major Players sorted in no particular order
India Spinal Fusion Devices Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Growing Aging Population in India
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4.2.2 Rising Incidences and Prevalence of Spinal Problems
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4.2.3 Rising Medical Tourism
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4.3 Market Restraints
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4.3.1 Stringent Regulatory Issues
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4.3.2 Reimbursement Issues
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4.4 Porter's Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Cervical Fusion Device
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5.1.2 Thoracic Fusion Device
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5.1.3 Lumbar Fusion Device
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5.2 By Surgery
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5.2.1 Open Spine Surgery
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5.2.2 Minimally Invasive Spine Surgery
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 DePuy Synthes Companies (Johnson and Johnson)
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6.1.2 Globus Medical Inc.
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6.1.3 Matrix Meditec Pvt. Ltd
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6.1.4 Medtronic PLC
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6.1.5 S.H. Pitkar Orthotools Pvt. Ltd
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6.1.6 Zimmer Biomet Holdings Inc.
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
India Spinal Fusion Devices Industry Segmentation
As per the scope of this report, spinal fusion devices refer to an orthopedic procedure that involves the fusion of two or more vertebrae, to restrict the movement of the affected vertebrae and decrease the pain suffered by the patient. A variety of spinal fusion procedures are performed covering the thoracic, lumbar, and cervical areas of the spine. Spinal fusion devices are used for the treatment of spinal injuries or deformities, such as spondylolisthesis and degenerative disc disease. As per the scope of this report, the Indian spinal fusion device market has been segmented by type and surgery.
| By Type | |
| Cervical Fusion Device | |
| Thoracic Fusion Device | |
| Lumbar Fusion Device |
| By Surgery | |
| Open Spine Surgery | |
| Minimally Invasive Spine Surgery |
India Spinal Fusion Devices Market Research FAQs
What is the current India Spinal Fusion Devices Market size?
The India Spinal Fusion Devices Market is projected to register a CAGR of 5.40% during the forecast period (2024-2029)
Who are the key players in India Spinal Fusion Devices Market?
Globus Medical Inc., Matrix Meditec Pvt Ltd, Medtronic PLC, Zimmer Biomet Holdings Inc. and Johnson and Johnson are the major companies operating in the India Spinal Fusion Devices Market.
What years does this India Spinal Fusion Devices Market cover?
The report covers the India Spinal Fusion Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Spinal Fusion Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Spinal Fusion Devices Industry Report
Statistics for the 2024 India Spinal Fusion Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Spinal Fusion Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
