Sacroiliac Joint Fusion Market Registering A CAGR Of 19.0% By 2028Posted by rahul nikade on December 28th, 2022 Sacroiliac Joint Fusion Industry Overview The global sacroiliac joint fusion market size was valued at USD 539.30 million in 2021 and is estimated to grow at a compound annual growth rate (CAGR) of 19.0% from 2022 to 2030. Growing technological developments, several minimally invasive surgical procedures, reimbursement coverage, and initiatives by key companies are some of the key drivers of this market. As per AmeriHealth Caritas by 2018, minimally invasive sacroiliac joint fusion was covered by Medicaid programs in 44 states in the U.S. while 32 Blue Cross Blue Shield plans covered minimally invasive joint fusion by 2019. This is anticipated to increase the number of MIS sacroiliac joint fusion procedures. The COVID-19 pandemic significantly impacted the market. Gather more insights about the market drivers, restrains and growth of the Global Sacroiliac Joint Fusion Market This included the canceled or deferred surgeries, low demand, supply chain challenges, delays in clinical trials, and low sales. The COVID-19 pandemic has brought about a series of changes. The impact triggered by the pandemic has been strong enough to increase the need for innovation in healthcare facilities. Virtual medical services appeared to be one of the most promising possibilities for orthopedic services worldwide. In the future, there will be more virtual healthcare systems. SI-BONE, a key player in the market, reported that its operations ran at suboptimal capacity due to decreased demand for its flagship iFuse product. This was owing to the global restrictions on elective procedures due to the COVID-19 pandemic, particularly during the Q2 of 2020. The company also expensed certain labor and overhead costs, which affected its financial performance. As case volumes began to recover, SI-BONE witnessed a more normalized operations capacity during the second half of 2020. The company initially limited its clinical study expenses from mid-March through April 2020 due to the postponement of trials in hospitals. However, by May 2020 most hospitals allowed the resumption of clinical trials thus allowing the company to continue its R&D activities during the pandemic. Technological advancements are also propelling the market growth. The growing adoption of new materials and technologies for creating better and safer SI joint fusion systems is anticipated to fuel the market growth over the forecast period. This includes the use of additive manufacturing and 3D-printed titanium implants. The Siros Lateral Sacroiliac Joint Fusion system by Genesys Spine, for example, comprises 3D-printed implants that offer optimal stabilization. SI-BONE’s iFuse-3D implants consist of titanium plasma spray-coated 3D implants that mimic native cancellous bone and are based on self-harvesting technology. These additively manufactured and 3D-printed implants facilitate an interconnected “bone-like” surface that may improve osteointegration. Browse through Grand View Research's Medical Devices Industry Research Reports.
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: Sacroiliac Joint Fusion Indication Outlook (Revenue, USD Million, 2017 - 2030)
Sacroiliac Joint Fusion Treatment Type Outlook (Revenue, USD Million, 2017 - 2030)
Sacroiliac Joint Fusion End-user Outlook (Revenue, USD Million, 2017 - 2030)
Sacroiliac Joint Fusion Regional Outlook (Revenue, USD Million, 2017 - 2030)
Market Share Insights
Key Companies profiled: Some prominent players in the global sacroiliac joint fusion market include
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