Sacroiliac Joint Fusion Market Demands, Trends and Business Outlook 2030

Sacroiliac Joint Fusion Market Growth & Trends

The global sacroiliac joint fusion market size is anticipated to reach USD 2.49 billion by 2030, registering a CAGR of 19.0% over the forecast period, according to a new report by Grand View Research, Inc. The key factors driving the market growth include a rising preference for minimally invasive surgeries, the growing aging population, and various initiatives by market players. The COVID-19 pandemic resulted in logistical bottlenecks, decreased sales & marketing activities, low demand, and other challenges for market participants. The major impact during the pandemic, however, was the canceled/postponed elective surgeries. As many countries went under lockdown and implemented movement restrictions, the number of elective surgeries plummeted.

U.S. sacroiliac joint fusion market size, by indication, 2020 - 2030 (USD Million)

Sacroiliac Joint Fusion Market Segmentation

Grand View Research has segmented the global sacroiliac joint fusion market on the basis of indication, treatment type, end-user, and region:

Based on the Indication Insights, the market is segmented into Degenerative Sacroiliitis, Sacral Disruption, Trauma.

  • The degenerative sacroiliitis indication segment dominated the market in 2021 and accounted for the largest share of more than 38.5% of the global revenue. The key factors contributing to this growth include a high prevalence of degenerative sacroiliitis, growing awareness about the condition, and improving diagnostic capabilities for sacroiliac joint disorders.
  • The trauma segment, on the other hand, is expected to register the fastest growth rate during the forecast period. The use of SI joint fusion systems in trauma indications is one the most recently approved indications by the FDA, thus contributing to the high growth rate of this segment.

Based on the Treatment Type Insights, the market is segmented into Surgery, Injections and RF Ablation.

  • The surgeries treatment type segment held the highest share of more than 41.0% of the global revenue in 2021. The increasing preference for minimally invasive surgeries due to the associated benefits, such as smaller incisions, reduced pain & scarring, and faster recovery times, is the major factor contributing to the high share of this segment.  
  • The Radiofrequency (RF) ablation segment is anticipated to register the fastest growth rate over the projected period. Radiofrequency ablation provides moderate pain relief and helps restore function for daily movements. The increasing awareness levels about sacroiliac joint pain & its treatment options along with various research initiatives and high prevalence of risk factors are likely to contribute to the segment growth.

Based on the End-user Insights, the market is segmented into Hospitals, Ambulatory Surgical Centers (ASCs), Others (Specialty Centers, Research & Academic Institutes).

  • The hospital end-user segment dominated the market in 2021 accounting for the largest share of more than 51% of the global revenue. The key factors contributing to the growth of this segment include a higher volume of surgeries performed in hospitals and a growing preference for minimally invasive surgeries. Furthermore, hospitals provide specialized, long-term care to patients. Moreover, treatments at these facilities are often reimbursed, thereby boosting their adoption.
  • The Ambulatory Surgical Centers (ASCs) end-user segment is anticipated to register the fastest CAGR from 2022 to 2030. This growth is credited to the rising number of ASCs.

Sacroiliac Joint Fusion Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Market Share Insights

  • 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.
  • October 2020: Orthofix received additional clearance from the FDA for its nanotechnology feature-NANOVATE to be used as part of its FIREBIRD system.

Key Companies Profile & Market Share Insights

The global market is highly competitive. Key companies deploy strategic initiatives, such as product development, launches, and sales & marketing strategies to increase product awareness and regional expansions and partnerships to strengthen their market share.

Some of the prominent players operating in the global sacroiliac joint fusion market include,

  • SI-BONE, Inc.
  • PainTEQ
  • CornerLoc
  • SIGNUS Medizintechnik GmbH
  • Globus Medical
  • Orthofix Medical Inc.
  • Life Spine, Inc.
  • Camber Spine Technologies, LLC
  • CoreLink Surgical
  • Xtant Medical
  • Surgalign Spine Technologies, Inc.
  • Medtronic

Order a free sample PDF of the Sacroiliac Joint Fusion Market Intelligence Study, published by Grand View Research.

Comments

Popular posts from this blog

South Africa Veterinary Medicine Market Size, Share, Revenue Analysis By 2028

Fencing Market Competitive Landscape And Component Benchmarking 2030

U.S. Cold Storage Market Distributor Analysis and Forecasts By 2030