MIS Sacroiliac Joint Fusion Market size is projected to record massive gains from 2021 to 2027 led by the growing prominence of surgery worldwide. Moreover, an escalation in the geriatric population suffering from joint displacement and pain issues is further likely to augment the market space during the forecast timeframe. The rising cases of road accidents resulting in joint displacement is touted to stimulate the demand for MIS sacroiliac joint fusion treatment. The sacroiliac joint has been considered as a source of chronic low back pain in nearly 15% to 30% of patients.
Sacroiliac joint fusion is a procedure that joins the iliac bone to the spine for body stabilization. The procedure is performed for a variety of conditions including infection, cancer, trauma, and spinal instability. Improving reimbursement policies and landscape associated with the SI joint procedures is anticipated to influence the growth trajectory of MIS sacroiliac joint fusion market. For instance, the U.S based Humana Inc., had in December 2020, announced expanding its coverage policies to include minimally invasive sacroiliac joint fusion using triangular titanium implants. The policy is also liable to cover SI-Bone’s iFuse system.
However, increased cost of sacroiliac joint fusion procedures is estimated to challenge the market growth during the forecast timeframe. Nevertheless, ongoing technological developments and product launches will fuel the market expansion. Citing an example, Aurora Spine Corporation, one of the leading manufacturers of innovative medical devices, reportedly announced successful launch of its patent SiLO Posterior SI Joint Fusion System. According to company officials, the product has been developed specifically for posterior sacroiliac joint fusion.
Considering the end-user vertical, hospitals are touted to hold a significant share of the overall MIS sacroiliac joint fusion market perhaps due to the elevating inclination for minimally invasive joint fusion procedures at these healthcare settings. Hospitals have been known to be well-equipped with advanced and cutting-edge medical devices and technologies that enable them to offer exceptional and high quality minimally invasive surgeries. Besides, hospitals covered under public healthcare sector are provided with grants from government, in order to ensure availability of technologically upgraded devices. These factors are slated to have a positive influence on the overall industry growth.
North America is poised to record remunerative gains across MIS sacroiliac joint fusion market, followed by Europe. In North America, the growth is anticipated to come from rising number of R&D activities and practices undertaken by various key players to bring forth novel innovations in the space pertaining to implants and other products required during surgical procedures. The introduction to a favorable regulatory environment and increasing healthcare expenditure in the continent would also bolster the regional growth in the coming years.
Some of the key companies operating in the global market include SI-BONE, Zimmer Biomet, Zyga Technology (RTI Surgical), Medtronic, Globus Medical, Xtant Medical, and others. These vendors have been relentlessly working towards developing new products in the business sphere to gain a competitive edge in the market. They are also being engaged in various industry strategies like acquisitions, mergers, and collaborations to stand a level apart.
The global outbreak of coronavirus pandemic has had a severe impact on the industry. Disruption in supply chains, movement restrictions, and a temporary halt in factory production had limited the sales and production of various systems being used for SI joint fusion. Also, various industry leaders pivoted to manufacturing COVID essentials to support the fight against coronavirus, further affecting the market progression.
Market, By End-user
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