Increasing Demand for Minimally Invasive Surgical Procedures to Boost the Sacroiliac Joint Fusion Market, reaching US$ 3.9 Bn by 2032
Published : 24 Feb 2022 Industry: Healthcare
The global sacroiliac joint fusion market size is projected to be valued at US$ 620 Mn in 2022, which is anticipated to garner USD 3,900 by 2032, according to a recently published report by Fact.MR. The market is likely to exhibit a CAGR of 20.2% during the forecast period. The rise of the market can be attributed to the increasing demand for minimally invasive surgical procedures and the rapid technical development in the healthcare sector.
Moreover, the fast expansion of the geriatric population in developed nations such as; the US is likely to propel the market significantly. According to the 2019 data of the U.S Census Bureau, out of 328 million U.S population, about 75 million are aged 60 years and above. Hence, the incidence of joint pains and disorders is rising significantly, providing a widening scope for sacroiliac joint fusion surgeries.
Regionally, North America is likely to garner 42% of the global revenue in 2022. On the other hand, APAC is expected to exhibit a CAGR of 17% during the forecast period from 2022 to 2032. The presence of a large patient pool, rising geriatric population, and increasing adoption of advanced technologies by the masses are expected to play a significant role in boosting the regional market.
Key Takeaways from the Market Study
- By 2022, sacroiliac joint fusion market to be valued at US$ 620 Mn
- Around 42% of global sacroiliac joint fusion market revenue to be contributed by North America
- Asia Pacific to experience lucrative growth, registering a 17% value CAGR until 2032
- By indication, degenerative sacroiliitis to accumulate 39% revenue share in 2022
- Sacroiliac joint fusion surgeries to account for 40% revenue in 2022 and beyond
- More than half of all sacroiliac joint fusion procedures to occur across hospitals
Rising cases of joint disorders resulting due to the prevalence of underlying chronic conditions, as well as prevalence of sedentary lifestyles has led to a rising prevalence rate of sacroiliac joint disorders, prompting numerous innovations to treat the condition, remarks an analyst at Fact.MR
Prominent sacroiliac joint fusion service providers are emphasizing on a host expansion strategies, ranging from product development, new product launches, collaborations and acquisitions. Moreover, several players are also involved in offering clinical testing of their products and patent applications. Some prominent developments are as follows:
- In September 2021, PainTEQ was granted 3 patents in the U.S. for its drill-less method of stabilizing an SI joint, abrading device used in the procedure, and allograft implant respectively. All three offerings are used in the company’s minimally invasive LinQ procedure for SI joint dysfunction, thus solidifying PainTEQ’s position in the market.
- In June 2020, Orthofix Medical Inc. launched FIREBIRD SI Fusion System through a limited market release in the U.S. The system uses a 3D-printed titanium bone screw that is implanted through a minimally invasive surgery for treating SI joint dysfunction.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the sacroiliac joint fusion market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of indication (degenerative sacroiliitis, sacral disruption and trauma), treatment type (surgery, injections and RF ablation) and end user (hospitals, ambulatory surgical centers and others) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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Shambhu Nath Jha
Sr. Consultant - Healthcare