The global interventional spine devices market is anticipated to grow at a compound annual growth rate of 10 percent between 2017 and 2021, according to a Technavio analysis.
Here are six observations:
1. By 2021, the global market will likely hit about $4.5 million, with the Americas seeing the highest revenue and incremental growth.
2. The growing popularity of minimally invasive procedures will drive the market's growth.
3. Emerging markets are spurring growth in the vertebroplasty segment. The introduction of precise bone cement delivery technologies as well as positive surgery outcomes will also boost this segment through 2021.
4. Kyphoplasty will also gain steam throughout the forecast period, supported by favorable reimbursement, positive results and impressive efficacy.
5. Radiofrequency ablation will also spur market growth, driven by a success rate of more than 75 percent. The procedure also yields an 80 percent reduction in pain.
6. Dublin, Ireland-base Medtronic; Kalamazoo, Mich.-based Stryker; Saint Paul, Minn.-based St. Jude Medical; West Chester, Pa.-based DePuy Synthes; and South Jordan, Utah-based Merit Medical represent the top vendors in the space.