31 Jul 2020
Posted in Medical Devices
Spinal fusion market gradually recovers from COVID-19 pandemic
The spinal fusion market has been severely affected by the COVID-19 pandemic. Leading data and analytics company GlobalData forecast the spinal fusion market will decline from $7bn to $5.9bn, with a decrease of 16.2% in 2020. However, the market is starting to recover as elective surgeries gradually resume globally.
Tina Deng, MSc, Senior Medical Devices Analyst at GlobalData, comments: “Since the onset of the COVID-19 pandemic, elective procedures including spinal-deformity or revision cases have been largely postponed or canceled in most countries.”
The pandemic has resulted in a significant decrease in sales globally, especially in the North American and European regions. However, GlobalData expects the market to slowly recover from the negative impact by the end of 2020 or beginning of 2021 as non-essential medical procedures resume around the world. Among all spine fusion procedures, elective thoracolumbar fusions are the more resource-intensive procedures, which are likely to be resumed more slowly than other spinal fusion procedures. The spinal fusion market is driven by the ever increasing incidence of spinal disorders, although the high cost of treatment remains a limiting factor. Lumbar fusions are the most common spinal fusion procedures performed.
Deng adds: “GlobalData expects that the number of elective spinal surgeries will gradually return to normal as the pandemic threat recedes and COVID-19 has no impact on the underlying need for these procedures. However, COVID-19 may lead to a long-term change in how procedures are carried out, with more taking place in an outpatient or ambulatory surgical center setting in order to reduce hospital bed occupancy rates.”