Sacroiliac Joint Fusion Market is expected to grow at a CAGR of around 19% from 2022-2028.
According to a new report published by UnivDatos Markets Insights, the Sacroiliac Joint Fusion Market is expected to grow at a CAGR of around 19% from 2022-2028. The analysis has been segmented into Indication (Degenerative Sacroiliitis, Sacral Disruption, and Trauma); Treatment Type (Surgery, Injections, and Rf Ablation); End-User (Hospitals, Ambulatory Surgical Centers, and Others); Region/Country.
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The sacroiliac joint fusion market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the sacroiliac joint fusion market. The sacroiliac joint fusion market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the sacroiliac joint fusion market at the global and regional levels.
Market Overview
Sacroiliac joint (SIJ) fusion, or arthrodesis, is a surgical technique that fuses the iliac bone to the sacrum for stabilization. This procedure may be performed in a minimally invasive manner or as an open surgical procedure requiring a larger incision. The growing technological developments and rising demand for minimally invasive procedures attributes to the market growth of the sacroiliac joint fusion market. Furthermore, the frequent product launches by the major market player are also a driving factor market growth of sacroiliac joint fusion. For instance, in March 2021, Aurora Spine Corporation announced that it has successfully launched its proprietary SiLOTM Posterior SI Joint Fusion System (SiLO), which was designed specifically for posterior sacroiliac joint fusion.
Factors such as the rising number of spine and hip surgeries and frequent product launch also catalyze the growth of the sacroiliac joint fusion market.
Some of the major players operating in the market include Some of the major players operating in the market include SI-BONE, Inc.; PainTEQ; FOUNDATION FUSION SOLUTION, LLC.; SIGNUS Medizintechnik GmbH; Globus Medical; Medtronic; Orthofix US LLC; Life Spine, Inc.; Camber Spine Technologies, LLC; and CoreLink, LLC
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COVID-19 Impact
The COVID-19 pandemic had a staggering and unprecedented impact on the global market. The market for sacroiliac joint fusion was also negatively impacted by the pandemic due to healthcare facilities being engaged in the treatment of rapidly rising COVID-19 and postponing their other appointments. Furthermore, due to the strict government regulations, people avoided unnecessary visits and sporting activities that significantly decreased the number of injuries during the pandemic. Hence, negatively impacting the market for sacroiliac joint fusion.
· Based on the indication, the market has been categorized into degenerative sacroiliitis, sacral disruption, and trauma. Among them, the trauma segment is expected to grow at a higher CAGR in the market. The rising usage of sacroiliac joint fusion in trauma cases and increased approvals in the category are attributed to the growth of the trauma segment. For instance, in May 2022, SI-BONE, Inc., a Silicon Valley-based medical device company announced FDA premarket clearance of the iFuse Bedrock Granite Implant System (Granite). The Granite implant provides sacroiliac fusion and sacropelvic fixation as a foundational element for segmental spinal fusion.
· Based on the treatment type, the market has been categorized into surgery, injections, and RF ablation. Among them, the surgeries segment to hold a dominant share of the market in 2020. Among these, chest Sacroiliac Joint Fusion to hold a significant share in the market in 2020. The rising prevalence of pulmonary disorders, along with the changing lifestyle preferences such as smoking and increasing alcoholic consumption attributes to the growth of the segment. For instance, as per the American Cancer Society, the estimated number of lung cancer in the United States for 2022 is about 236,740 new cases of lung cancer.
· Based on the end-user, the market has been categorized into hospitals, ambulatory surgical centers, and others. Among them, the ambulatory surgical center’s segment holds a higher CAGR during the forecast period. The ambulatory surgical centers provide the point of care treatment, can offer low-cost treatment, and reduces waiting time in emergency cases. These are the factors responsible for the segmental growth of ambulatory surgical centers.
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Sacroiliac Joint Fusion Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
Asia-Pacific is anticipated to grow at the fastest growth during the forecast period. The major factors such as the development of better healthcare and research infrastructure, along with the increasing number of car accidents in the region attributes to the market growth of the market. For instance, as per the National Crime Records Bureau, in 2019, road accidents resulted in injuries to 4,42,996 persons in India.
The major players targeting the market include
· SI-BONE, Inc.
· PainTEQ
· FOUNDATION FUSION SOLUTION, LLC.
· SIGNUS Medizintechnik GmbH
· Globus Medical
· Medtronic
· Orthofix US LLC
· Life Spine, Inc.
· Camber Spine Technologies, LLC
· CoreLink, LLC
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Sacroiliac Joint Fusion market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the sacroiliac joint fusion market?
• Which factors are influencing the sacroiliac joint fusion market over the forecast period?
• What are the global challenges, threats, and risks in the sacroiliac joint fusion market?
• Which factors are propelling and restraining the sacroiliac joint fusion market?
• What are the demanding global regions of the sacroiliac joint fusion market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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