Market Trends of India Spinal Surgery Devices Industry
This section covers the major market trends shaping the India Spinal Surgery Devices Market according to our research experts:
Thoracolumbar Fusion Segment is Expected to Register High CAGR Over the Forecast Period in the India Spinal Surgery Devices Market
The thoracolumbar fusion segment is expected to witness significant growth over the forecast period, owing to the factors such as the increasing numbers of spinal disorders and the growing geriatric population. As per the data published by the National Health Portal of India in November 2021, about 15,000 cases of spinal cord injuries are recorded in India every year. The high number of spinal injury cases is expected to increase the demand for spinal surgeries due to unstable spines, thereby propelling the growth of the segment. Trauma, falls, crashes, and traffic accidents are all common causes of spinal fusion injuries.
Thoracolumbar fusion is a complex operation and requires the use of screws that are placed between the vertebrae to be fused. Then the bone graft is placed around these screws. The screws that are used during this operation are made of titanium and are usually placed for a lifetime. It provides an effective treatment option for patients suffering from lumbar spinal stenosis and advanced alternative treatment for decompression spinal surgery. The physiological changes in the body of older people and prolonged exposure to risk factors increase the incidence rates of spine disorders, which may require surgical intervention.
Moreover, the focus of several companies on developing new and effective devices that are used to treat spine-related issues also contributes to the growth of thoracolumbar fusion devices, thereby increasing the market growth. For instance, in June 2022, Camber Spine announced that it is entering into the next phase of the complete national launch of the SPIRA-P Posterior Lumbar Spacer and has commercialized its Spira-T Oblique Posterior Lumbar Spacer. Also, in April 2021, Globus Medical Inc. launched CREO ONE, the first robotic screw designed for spine surgery with ExcelsiusGPS. This launch enhances the company's groundbreaking modular pedicle screw platform by simplifying pedicle preparation while maintaining navigational accuracy.
Therefore, owing to the aforementioned factors, the segment studied is expected to grow during the forecast period.
Interbody Fusion Segment is Expected to Have a Significant Market Share Over the Forecast Period
The interbody fusion segment is expected to grow over the forecast period, owing to the factors such as the increasing number of spinal deformities among the population that experience an unstable movement of the lumbar spine or immobilizing a painful vertebral motion. For instance, as per a study published in the Journal of Orthopedics and Joint Surgery in August 2021, the prevalence of facet tropism (FT) was higher at the L4-L5 level, followed by L5-S1 among the South Indian population. In addition, as per the same source, a higher burden of facet tropism was observed in the elderly population aged 50 years and above. This is expected to increase the demand for spinal motion-preserving devices to further prevent the risk of disc degeneration, hence boosting the segment's growth.
Additionally, according to an article published in Neurology India in February 2022, oblique lumbar interbody fusion (OLIF) is better at treating lumbar spondylolisthesis than minimally invasive transforaminal lumbar interbody fusion (MISTLIF). The advantages offered by OLIF, such as less blood loss during surgery, providing better spinopelvic alignment, shorter duration of postoperative analgesics, and early return to work over MISTLIF, make it safe and effective in treating spinal issues. This is anticipated to increase its adoption for treating lumbar spinal fusion surgeries, bolstering the market's growth.
Key players dealing in the segment are scaling up their profit margins by engaging in diverse marketing tactics like mergers, acquisitions, and product launches. For instance, in October 2022, Stryker announced the launch of the Monterey AL Interbody System, a stand-alone interbody fusion device designed for anterior lumbar interbody fusion (ALIF). Similarly, in September 2022, Surgalign announced that it expanded its Fortilink product portfolio with a new family of interbody fusion devices. This is likely to provide ample growth opportunities to the segment studied in the future.
