BURLINGAME, Calif., Jan. 25, 2024 /PRNewswire/ –.CoherentMI published a report, titled, Global Sacroiliac Joint Fusion Market was valued at US$ 625.3 Million in the year 2023 and is anticipated to reach US$ 1,525.1 Million by 2030, at a CAGR of 13.6% during forecast period 2023-2030.
The rising prevalence of sacroiliac joint dysfunction is one of the key drivers fueling the growth of the Global Sacroiliac Joint Fusion Market. Sacroiliac joint dysfunction is a condition characterized by pain in the sacroiliac joint, located at the base of the spine. This condition often goes undiagnosed or misdiagnosed, leading to a significant patient population seeking treatment options. The increasing awareness among healthcare professionals and patients about the benefits of sacroiliac joint fusion surgeries is expected to drive market growth. Additionally, technological advancements in minimally invasive surgical techniques and the availability of advanced implant materials are also contributing to market growth.
Market Snapshot:
|
Report Coverage |
Details |
|
Study Period |
2023 – 2030 |
|
Base Year of Estimation |
2022 |
|
CAGR |
13.60 % |
|
Largest Market |
North America |
|
Market Concentration |
High |
|
Major Players |
SI-BONE, Medtronic, SIGNUS Medizintechnik GmbH, Xtant Medical, Life Spine and Among Others |
|
Segments Covered |
By Product Type, By Indication, By End Users, By Geography |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Growth Drivers |
• Increasing prevalence of sacroiliac joint disorders |
|
Restraints and Challenges |
• High costs and unfavorable reimbursement policies |
Key Market Takeaways:
The Global Sacroiliac Joint Fusion Market Size is anticipated to witness a CAGR of 13.6% during the forecast period 2023-2030, owing to the increasing prevalence of degenerative sacroiliitis and advancements in surgical techniques and technologies.
On the basis of product type, the minimally invasive SI joint fusion devices segment is expected to hold a dominant position, owing to their benefits such as less post-operative pain and faster recovery. These devices are widely adopted by healthcare professionals, driving their dominance in the market.
On the basis of indication, degenerative sacroiliitis is expected to dominate the market. Due to factors such as the aging population and increasing cases of osteoarthritis, the prevalence of degenerative sacroiliitis is rising, leading to a higher demand for sacroiliac joint fusion devices.
In terms of end users, hospitals are expected to hold a dominant position in the market. Hospitals have well-established infrastructures and experienced healthcare professionals who perform sacroiliac joint fusion procedures. This dominance can be attributed to the high patient footfall and broader access to healthcare facilities.
Regionally, North America is expected to dominate the market. This can be attributed to the high prevalence of degenerative sacroiliitis in this region and the presence of key market players. North America has a well-developed healthcare infrastructure and advanced surgical techniques, contributing to its dominant position in the market.
Key players operating in the Global Sacroiliac Joint Fusion Market include SI-BONE, Medtronic, SIGNUS Medizintechnik GmbH, Xtant Medical, Life Spine, Globus Medical, CoreLink, Orthofix, Zyga Technology, Alphatec Spine, Integra LifeSciences, DePuy Synthes, NuVasive, and RTI Surgical. These key players focus on product innovations and strategic collaborations to strengthen their market position and cater to the increasing demand for sacroiliac joint fusion devices globally.
Market Trends:
One of the key trends in the Global Sacroiliac Joint Fusion Market is the growing adoption of minimally invasive procedures. Minimally invasive sacroiliac joint fusion surgeries offer numerous advantages over traditional open surgeries, such as smaller incisions, reduced pain, faster recovery time, and lower risk of complications. As a result, an increasing number of healthcare providers and patients are opting for minimally invasive procedures, thus driving market growth.
Another prominent trend in the Global Sacroiliac Joint Fusion Market is the development of novel implant materials. Recent advancements in materials science have led to the introduction of bioresorbable implants that promote bone healing and gradually dissolve over time. These implants eliminate the need for removal surgeries and offer improved patient outcomes. The adoption of such innovative implant materials is expected to propel market growth in the coming years.
Recent development:
In March 2022, Life Spine introduced the SImpact SI Joint Fixation System, a sacroiliac joint fusion system with integrated compression and stabilization capabilities.
In September 2021, PainTEQ has been awarded three U.S. patients for a novel Sacroiliac joint surgery.
Read complete market research report, “Global Sacroiliac Joint Fusion Market Size And Share Analysis – Growth Trends And Forecasts (2023 – 2030)“, Published by CoherentMI.
Market Opportunities:
Increasing Prevalence of Degenerative Sacroiliitis
The first market opportunity in the Global Sacroiliac Joint Fusion Market is the increasing prevalence of degenerative sacroiliitis. Sacroiliitis refers to the inflammation of the sacroiliac joint, which is commonly caused by degenerative conditions such as osteoarthritis. According to research, the prevalence of degenerative sacroiliitis is rising, primarily due to the aging population and the increasing cases of osteoarthritis.
As a result, there is a growing demand for sacroiliac joint fusion devices to treat degenerative sacroiliitis. Minimally invasive SI joint fusion devices are dominating this segment, mainly because they offer less post-operative pain, faster recovery, and improved patient outcomes. These devices are widely adopted by healthcare professionals, contributing to their dominant position in the market.
Advancements in Surgical Techniques and Technologies
The second market opportunity is the advancements in surgical techniques and technologies in the field of sacroiliac joint fusion. With continuous technological advancements, surgical procedures for sacroiliac joint fusion have become more advanced and precise. These advancements include the development of arthrodesis devices, allografts, screws, plates, and other devices that aid in achieving better surgical outcomes.
Healthcare professionals are increasingly adopting these advanced surgical techniques and technologies to improve patient care and outcomes. As a result, the demand for these devices and technologies is expected to grow significantly in the coming years. This market opportunity presents growth prospects for key market players to innovate and develop more advanced and efficient sacroiliac joint fusion devices.
Global Sacroiliac Joint Fusion Market Segmentation:
By Product Type
Minimally Invasive SI Joint Fusion Devices
Open Surgery SI Joint Fusion Devices
Arthrodesis Devices
Allografts
Screws
Plates
Others (Nails, Rods, etc.)
By Indication
Degenerative Sacroiliitis
Sacral Disruption
Others (Failed Back Surgery, Trauma, Infection, etc.)
By End Users
Hospitals
ASCs
Specialty Clinics
Others (Research, Academic Institutes, etc.)
By Region
North America
Europe
Asia Pacific
Latin America
Middle East
Africa
Buy this premium report now @ https://www.coherentmi.com/industry-reports/global-sacroiliac-joint-fusion-market/buyNow
Top Questions Answered in this Report:
What factors are impeding the growth of the Global Sacroiliac Joint Fusion Market?
What are the primary drivers fueling the growth of the Global Sacroiliac Joint Fusion Market?
Which segment dominates as the leading component in the Global Sacroiliac Joint Fusion Market?
Who are the key players actively participating in the Global Sacroiliac Joint Fusion Market?
Which region is expected to take the lead in the Global Sacroiliac Joint Fusion Market?
What is the projected CAGR of the Global Sacroiliac Joint Fusion Market?
Find More Trending Reports Below:
Luxury Vegan Handbags Market is Segmented By Material Type (PVC, Polyurethane, Recycled Materials, Cork, Others), By Product Type (Handbags, Wallets, Clutches, Shoulder Bags, Tote Bags, Satchels, Others), By Price Range (Premium, Mid-Range, Low Range), By Distribution Channel (Offline Retail Stores, Online E-Commerce Websites, Brand Outlets, Others), By End User (Women, Men, Unisex), By Consumer Group (Millennials, Generation X, Generation Z, Baby Boomers), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa). The report offers the value (in USD Billion) for the above-mentioned segments.
India Creator Economy Market is Segmented By Platform (Video, Audio, Writing, Live Streaming, Others), By Type of Creators (Independent Individual Creators, Commercial/Professional Creators, Influencer Agencies, MCNs, Others), By City Type (Metros, Tier 1 Cities, Tier 2 Cities, Tier 3 Cities and Rural), By End Use (Media & Entertainment, Education, Marketing/Advertising, Consulting, Technology, Others). The report offers the value (in USD Million) for the above-mentioned segments.
Modular Data Center Market is Segmented By Component (Functional Modules, Services, Infrastructure, Power & Cooling), Data Center Size (Small and Medium, Large, Micro), Tier Type (Tier 1 & 2, Tier 3, Tier 4), Industry (BFSI, IT & Telecom, Government & Defense, Healthcare, Retail & E-commerce, Manufacturing, Others), Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) The report offers the value (in USD billion) for the above-mentioned segments.
About Us:
At CoherentMI, we are a leading global market intelligence company dedicated to providing comprehensive insights, analysis, and strategic solutions to empower businesses and organizations worldwide. Moreover, CoherentMI is a subsidiary of Coherent Market Insights Pvt Ltd., which is a market intelligence and consulting organization that helps businesses in critical business decisions. With our cutting-edge technology and experienced team of industry experts, we deliver actionable intelligence that helps our clients make informed decisions and stay ahead in today’s rapidly changing business landscape.
Contact Us:Mr. Shah
Senior Client Partner – Business Development
CoherentMI
Phone:
U.S.: +1-206-701-6702
U.K: +44-020-8133-4027
JAPAN: +81-50-5539-1737
INDIA: +91-848-285-0837
Email: [email protected]
Website: https://www.coherentmi.com
Logo: https://mma.prnewswire.com/media/902389/Coherent_Market_Insights_Logo.jpg
SOURCE Coherent Market Insights
