June 13, 2024
Global Sacroiliac Joint Fusion Market

Global Sacroiliac Joint Fusion Market Is Estimated To Witness High Growth Owing To Rising Adoption Of Minimally Invasive Procedures

The global sacroiliac joint fusion market comprises medical devices that are used for stabilization and immobilization of the sacroiliac joint. Sacroiliac joint fusion procedures are commonly performed to treat sacroiliac joint dysfunction or degenerative sacroiliitis. Sacroiliac joint fusion devices offer advantages such as less invasive nature, faster recovery, and lower morbidity as compared to open surgeries. Rising adoption of minimally invasive procedures is driving the growth of this market.

The Global Sacroiliac Joint Fusion Market Size 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.

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. SI-BONE captured a majority share of the SI joint fusion market in 2024 owing to its iFuse Implant System devices.

The growing geriatric population suffering from degenerative diseases is expected to create significant growth opportunities for players in the sacroiliac joint fusion market. According to the United Nations, the global population aged 60 years and above is expected to reach nearly 2.1 billion by 2050 from 962 million in 2017.

Rising medical tourism in Asia Pacific for sacroiliac joint fusion procedures is anticipated to aid the expansion of the global market. Countries such as India, Thailand, and Singapore offer sacroiliac joint fusion surgeries at substantially lower costs as compared to the U.S. and Western European nations.

Market Drivers

The rising demand for minimally invasive procedures over open surgeries is a major market driver. Minimally invasive sacroiliac joint fusion surgeries cause less tissue damage, blood loss, and scarring, and enable faster recovery times compared to open fusion surgeries. This is expected to increase the uptake of sacroiliac joint fusion devices.

Pest Analysis

Political: Sacroiliac joint fusion procedures require regulatory approval, so any changes to regulations could impact the market. Regulatory bodies monitor medical device safety and effectiveness.

Economic: Growth of the global economy and disposable incomes influence spend on healthcare and elective procedures. Costs of new medical technologies factor into hospitals’ and patients’ purchasing decisions.

Social: Aging populations and more sedentary lifestyles contribute to higher rates of back pain and joint issues. Growing awareness of treatment options and willingness to pursue minimally invasive techniques drive some market growth.

Technological: Advancements in minimally invasive techniques and implant materials continue to make SI joint fusions less traumatic for patients and improve surgical outcomes. Navigation systems aid surgeons in precise implantation. Developments target faster recovery times.

The geographical regions where the global sacroiliac joint fusion market in terms of value is most concentrated are North America and Europe. In North America, countries like the United States have high healthcare expenditure and widespread medical insurance coverage supporting adoption of new technologies. Many leading medical device companies are also based in these regions.

The fastest growing region for the global sacroiliac joint fusion market is Asia Pacific. Countries in Asia Pacific have growing economies and a rising middle class population able to afford elective surgeries. Case volumes are lower than in Western markets currently but represent significant room for expansion. Increased awareness among surgeons combined with gradual improvements to healthcare infrastructure contribute to strong projected growth rates in Asia Pacific.

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 Market’s growth between 2024 and 2031.

:- Accurate calculation of the size of the Global Sacroiliac Joint Fusion  Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behavior

:- Global Sacroiliac Joint Fusion  Market 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  Market vendors

FAQ’s

Q.1 What are the main factors influencing the Global Sacroiliac Joint Fusion market?
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 Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global Sacroiliac Joint Fusion market’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: CoherentMI, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it