PEEK is likely to benefit from growth in the Spinal Fusion market, according to data and analytics company GlobalData.
Interbody Devices remain the largest market category as the treatment of fusions has become more dynamic, leading to changes in the materials and designs of interbody devices. Interbody cages made of PEEK have dominated the market, and looks set to continue to outgrow devices made from alternative materials.
As a whole the global Spinal Fusion market is expected to reach $7.6bn by 2028, growing at a Compound Annual Growth Rate (CAGR) of 1.6%.
GlobalData’s latest report, ‘Spinal Fusion Devices,Orthopedics Market Analysis and Forecast Model', suggests the Middle East & Africa will be one of the fastest growing regions at a CAGR of 5.2% between 2018 and 2028, with Asia Pacific and South America following closely behind at 5.1% and 4.9% respectively.
Sarah Janer, medical devices analyst at GlobalData, said: “Fusion procedures and spinal surgeries in general have been driven by the advancement in navigation and imaging technologies. Such advancements have been able to improve the surgeon’s ability to identify the source of back pain and perform more effective surgeries.”
The report suggests potential barriers to market growth include post-surgical complications and increasing investigations into the necessity of many spinal procedures and decreased reimbursement.