July 20, 2024
Sacroiliac Joint Fusion Market

The Rapid Adoption Pace Of Minimally Invasive Surgeries To Boost The Growth Of Sacroiliac Joint Fusion Market

Market Overview:

The sacroiliac joint fusion market involves surgically fusing the sacroiliac joint which connects the sacrum to iliac bones of the pelvis. Sacroiliac joint plays a vital role in distributing forces from the spine to the pelvis and lower extremities. Sacroiliac joint pain occurs due to inflammation, injury or degenerative changes in the joint. Minimally invasive procedures like percutaneous instrumentation are gaining traction due to benefits like less pain, reduced blood loss, shorter hospital stays and faster recovery time compared to traditional open surgeries.

The global Sacroiliac Joint Fusion Market was valued at US$ 625.3 Mn in 2023 and is expected to exhibit a CAGR of 13.6% over the forecast period 2023-2030, as highlighted in a new report published by CoherentMI.

Market Key Trends:

One of the key trends in the sacroiliac joint fusion market is the rapid adoption of minimally invasive surgeries. These procedures provide significant advantages over traditional open surgeries like smaller incisions, less muscle stripping, less blood loss, reduced post-operative pain and faster recovery. Various companies are focusing on developing novel minimally invasive instruments and techniques for sacroiliac joint fusion. Growing geriatric population prone to degenerative diseases is also fueling the demand for sacroiliac joint fusion procedures. Furthermore, increasing awareness about available treatment options for sacroiliac joint pain among physicians and patients is expected to propel the market growth over the forecast period.

Porter’s Analysis

Threat of new entrants: The sacroiliac joint fusion market has moderate barriers to entry due to the need for research and development funding to develop new technologies and surgical methods. This acts as a deterrent for new companies.

Bargaining power of buyers: The bargaining power of buyers is moderate. The availability of alternative treatment options such as physiotherapy gives buyers somecontrol over prices. However, the increasing prevalence of spinal disorders limits this power.

Bargaining power of suppliers: Supply chains for medical devices and technologies are complex with specialized components and IP protections limiting the bargaining power of suppliers.

Threat of new substitutes: Some alternatives like physiotherapy and pain management exist but sacroiliac joint fusion remains the most effective treatment option for severe cases. The threat from new substitutes is low.

Competitive rivalry: The market is highly competitive with major players continuously focusing on new product launches and geographic expansions to gain market share.

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.)

    Key Takeaways

    Sacroiliac Joint Fusion Market Size is expected to witness high growth, exhibiting CAGR of 13.6% over the forecast period, due to increasing prevalence of spinal disorders.

    Regional analysis: North America dominated the market in 2023 with a share of over 35%, owing to the rising incidence of spinal injuries in the US and robust reimbursement structure. Asia Pacific is anticipated to be the fastest growing region due growing medical tourism and improving healthcare infrastructure across developing nations.

    Key players: Key players operating in the 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 over 15% of the market share in 2023 owing to its innovative iFuse Implant System.

Reasons To Buy The Sacroiliac Joint Fusion Market Report:

  • In-depth analysis of the market on the global and regional levels.
  • Major changes in market dynamics and competitive landscape.
  • Segmentation on the basis of type, application, geography, and others.
  • Historical and future market research in terms of size, share growth, volume, and sales.

FAQ’s

  • What are the main factors influencing the Sacroiliac Joint Fusion Market?
  • Which companies are the major sources in this industry?
  • What are the market’s opportunities, risks, and general structure?
  • Which of the top Sacroiliac Joint Fusion Market companies compare in terms of sales, revenue, and prices?

*Note:
1. Source: CoherentMI, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it