Here are 50 updates with regard to spine and orthopedic device markets.
Global spine device market
From a ResearchMoz report.
1. The market remains strong despite challenges in changing healthcare environments, including healthcare reform in the United States and increased scrutiny on spine surgery reimbursement.
2. The United States is still the largest geographic market for spinal fusions, which continue to show clinical success for appropriately indicated patients. Spinal fusion is one of the most frequently performed procedures in the United States.
3. Leading players in the market are Medtronic, Johnson & Johnson and Stryker, but they continue to lose market share to smaller players, including NuVasive and Globus Medical.
4. New product development, innovation and surgeon choice will change the competitive dynamics of the industry in the future, potentially leading to new market leaders.
5. There are still unmet needs in the market, and new minimally invasive surgery innovations will have a positive impact on the market because they make complicated procedures easier than before.
6. The advantages of minimally invasive technology driving adoption include:
• Shorter recovery time
• Shorter scar length
• Low infection risk
• Less bleeding
• Shorter hospital stays
7. Continued growth is expected in the spine market over the long term because there is an increasing demand for motion preservation technologies.
8. There is also an increasing use of implants during spine surgery.
9. New companies are entering the market every year, another indicator of the market's success and future growth potential.
10. Small companies are expected to continue to enter the market with their own unique and innovative products for various areas of the spine industry.
U.S. minimally invasive spine technology market
From a Decision Resources Group report.
11. The minimally invasive spine technology market is expected to grow 6 percent through 2023, which is significantly faster than the traditional open spine implant market.
12. Minimally invasive spine procedures will be driven to the outpatient ambulatory surgery center setting. ASCs offer considerable advantages for patients and accommodate faster recovery times. The ASC adoption of spine is expected to fuel the minimally invasive device market.
13. Additional factors driving the minimally invasive spine technology market include the increasing number of insured patients and marketing efforts from device companies. There is also expected to be additional product launches to stimulate growth.
14. There will be continued reimbursement challenges despite the Affordable Care Act increasing the insured population. Reimbursement for newly-insured patients will likely be insufficient to cover costs associated with premium-priced minimally invasive devices.
15. The reimbursement for spine will likely continue to be more aligned with open procedures, limiting minimally invasive procedure volume growth "somewhat."
16. Medicare spending will also negatively impact minimally invasive spine procedures; many of these procedures are performed on the Medicare population, but the premium price for less invasive procedures could make open spine procedures more attractive.
17. The leading competitors in the market include NuVasive, Medtronic and DePuy Synthes; these companies are expected to continue investing aggressively in new product launches, physician training and marketing campaigns to stimulate growth.
"This signifies the importance of this segment compared to the much more stagnant traditional open spinal implant market," said Decision Resources Group Senior Analyst Rene Azeez. "In particular, companies are focusing on the large minimally invasive spinal fusion space and the fast-growing facet fixation market."
18. There are complementary markets growing around minimally invasive spine technologies that could have a long term impact on the field. "For example, there is growing interest in robotic guidance which can increase the accuracy of minimally invasive spine procedures," said Mr. Azeez. "Companies are also launching bone graft substitutes designed specifically for minimally invasive procedures."
Spinal non-fusion device market
From a Transparency Markets Research report.
19. Fusion devices still make up the largest market share for spinal devices, but the non-fusion market is expected to grow through 2019.
20. Engineers and medical practitioners are expected to collaborate on new non-fusion devices that will help patients retain flexibility and movement post-surgery.
21. Factors that will drive market growth include:
• Increasing older population
• Technological advancements
• Increasing obese population
• Competitive spine market
• Rising demand for minimally invasive procedures
22. Unstable reimbursement policies will hinder market growth over the next four years.
23. North America contributes the largest market for non-fusion devices, as around 50 percent of the United States population 40 years or older is impacted by degenerative disc disease.
24. Europe is the second largest market because regulations governing the medical device sales are growing more stringent.
25. The Asia-Pacific market has the fastest growth potential due to:
• High population
• Facility development
• Customer awareness of new technologies
26. Growth is also expected in the rest of the world because of increasing awareness and better availability of facilities.
27. Key players in the market include: Medtronic, LDR, Globus Medical, DePuy Synthes, NuVasive, Zimmer and Disc Motion Technologies.
28. Spinal non-fusion devices include artificial disc replacements, dynamic stabilization devices, annulus repair, facet arthroplasty and nuclear disc prosthesis.
Surgical navigation systems market
From a BCC Research report.
29. The global surgical navigation systems market reached $385.5 million in 2012 and is expected to grow to $631.9 million in 2018.
30. The market is expected to grow at a compound annual growth rate of 8.5 percent through 2018.
31. Within the surgical navigation systems market, the neurosurgical systems market reached $126.9 million in 2012 and is expected to grow to $193.4 million in 2018.
32. The neurosurgical navigation systems market is expected to grow at a compound annual growth rate of 7.3 percent through 2018.
33. The orthopedics systems market within the surgical navigation systems market reached $120.5 million in 2012 and is expected to grow to $201.9 million in 2018.
34. The orthopedics systems market is expected to grow at a compound annual growth rate of 8.9 percent through 2018.
35. The growth is driven by higher clinical confidence and visualization techniques with the surgical navigation systems.
36. Image guidance is now commonplace in neurosurgery, spine and orthopedics as well as otolaryngology procedures.
37. Most surgeries in the United States are not conducted with navigation technology currently, but the demand for minimally invasive procedures is changing the dynamic of operating rooms around the world, leading to huge potential for surgical navigation systems.
38. Surgical navigation systems are now set to penetrate ambulatory surgery centers and day care centers as well as private clinics in addition to large tertiary hospitals.
North American orthobiologics market
From a ReportsNReports analysis.
39. The orthobiologics market in North America is driven by implant technologies innovation shifting from mechanical to biological solutions.
40. The segment began experiencing positive growth in 2012 and the markets are witnessing maximum growth because of the demand for innovation and the increased chronic arthritis with the rapidly aging population.
41. Orthobiologics is also gaining popularity because of accelerated healing capabilities, faster recoveries and reduced hospital visits.
42. The increasing rate of obesity in North America coupled with a demand for minimally invasive intervention is also driving demand for bone graft substitutes.
43. Patients are becoming more aware of orthobiologics and technological advancement in the field, and demanding "state-of-the-art" treatment.
44. Additional factors driving potential patient growth in this sector include:
• Increased sports participation and sports-related injuries
• Rising car accident incidence
• Larger geriatric population wishing to remain active longer
45. The United States contributes to around 92 percent of the orthobiologics market as of 2014.
46. The major companies in the orthobiologics market are Stryker, Zimmer, DePuy Synthes, Medtronic, Smith & Nephew, Exactech, Tornier, Biomet, Wright Medical Group and Ottobock.
Bone graft market
From a Persistence Market Research report.
47. North America dominates the global bone graft market due to increased awareness about how important bone graft procedures are. The increased adoption of cell-based matrices also promotes bone graft market growth in the United States.
48. Additional growth factors in the bone graft market include:
• Rising aging population
• Increased spinal fusions and joint reconstructions performed
• Advanced bone graft technology
49. Tough regulations could hinder bone graft market growth. High costs and inadequate reimbursement policies for bone grafting also slows potential growth.
50. Asia is expected to show high bone graft market growth rates over the next five years in the global bone grafts market, as a result of increased public awareness of bone regeneration. Japan, China and India are expected to grow the fastest in Europe.
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