by The global sacroiliac joint fusion market has been witnessing significant growth driven by increasing minimally invasive surgical procedures for sacroiliac joint disorders. Sacroiliac joint fusion involves implantation of bone graft or implant to stabilize the joint and relieve pain associated with sacroiliac joint dysfunction. These procedures are gaining popularity owing to benefits such as reduced procedure time, decreased blood loss, lower risk of infection, shorter hospital stay, and faster recovery in comparison to open fusion surgeries.
The Global Sacroiliac Joint Fusion Market is estimated to be valued at US$ 625.3 Mn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024-2031.
Sacroiliac Joint Fusion procedures are commonly performed to treat patients suffering from degenerative sacroiliitis, traumatic injury of the pelvis or sacroiliac joints. These joint disorders can cause severe lower back pain, difficulty in hip movements and impaired daily activities. Advancements in sacroiliac joint fusion technologies through innovative implant designs and minimally invasive surgical approaches are promoting widespread adoption.
Key Takeaways
Key players operating in the global sacroiliac joint fusion market are 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.
The growing geriatric population suffering from degenerative joint disorders along with increasing trauma and sports related injuries is fueling the demand for sacroiliac joint fusion procedures globally. According to data, sacroiliac joint dysfunction affects around 15-30% of the population suffering from chronic lower back pain at some point.
Major players are focusing on expanding their geographic presence and enhancing their minimally invasive surgical portfolio through new product launches and acquisitions. This is supporting the global expansion of the sacroiliac joint fusion market.
Market Key Trends
Growing adoption of percutaneous fusion procedures is one of the key trends in the global sacroiliac joint fusion market. Percutaneous techniques enable implant insertion using small incisions and imaging navigation which aid faster recovery. They are associated with reduced procedural steps compared to open or mini-open approaches. This is contributing to the increased preference for percutaneous surgeries among healthcare professionals and patients alike.
Porter’s Analysis
Threat Of New Entrants: Low barrier for new companies to enter this market as technologies used are established but development costs are high. Significant expertise and capital is required to develop new implants and techniques.
Bargaining Power Of Buyers: Buyers have moderate bargaining power as there are several established players providing sacroiliac joint fusion systems. However, differentiated products give companies pricing power.
Bargaining Power Of Suppliers: Suppliers of raw materials have moderate to high bargaining power as raw materials supply is concentrated among few major players. However, some raw materials can be sourced from alternative suppliers reducing dependence.
Threat Of New Substitutes: Threat of new substitutes is moderate as new minimally invasive surgical techniques and alternative joint treatments continue to emerge. However, sacroiliac joint fusion remains gold standard treatment when conservative therapies fail.
Competitive Rivalry: High as major players compete on technological advancements, product differentiation and geographical expansion to gain market share in this fast growing market.
Geographical Regions: North America is currently the largest market for sacroiliac joint fusion systems accounting for over 50% of global revenues. This is attributed to higher adoption rates of minimally invasive spinal surgeries and presence of major device manufacturers in the region.
Asia Pacific is identified as the fastest growing regional market expected to witness a CAGR of around 20% during forecast period on back of large patient population, increasing healthcare spending and rapidly developing medical technology sector in countries like China and India.
What Are The Key Data Covered In This Global Sacroiliac Joint Fusion Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Global Sacroiliac Joint Fusion’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Global Sacroiliac Joint Fusion and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Global Sacroiliac Joint Fusion Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Global Sacroiliac Joint Fusion vendors
FAQ’s
Q.1 What are the main factors influencing the Global Sacroiliac Joint Fusion?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Global Sacroiliac Joint Fusion companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global Sacroiliac Joint Fusion’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
