Will the minimally invasive spine device market eclipse the traditional spine device market?
A new report in Med Device Online shows fast growth in minimally invasive procedures among surgeons in a market that is expected to continue growth over the next few years.
Here are 10 things to know from the report:
1. There are clinical advantages to less invasive procedures and the shorter hospital stays, which could lead to huge savings. But growth is expected to slow in the traditional minimally invasive fusion market as motion preservation gains steam.
2. Combined, the minimally invasive and traditional spinal implant markets are expected to exceed $9 billion by 2020.
3. New technology and studies showing sacroiliac joint dysfunction is more common among patients with low back pain leaves opportunity for development in the market. Minimally invasive SI joint fusion now has a Category I CPT code this year, and this change is expected to drastically "change the market landscape."
4. Private insurers are expected to begin covering minimally invasive SI joint fusion procedures, which will further drive the market. Medicare Administrative Contractors are already beginning to do so.
5. The cervical artificial disc market increased more than 8 percent from 2013 to 2014 attributed to more cervical discs available. Future growth is expected as the approach is simplified, favorable clinical results released and more favorable reimbursement available.
6. There is a lower growth among lumbar disc replacement due to less data efficacy and poor reimbursement. However, as clinical data emerges on new products, this segment is expected to stabilize within the next five years.
7. Cervical disc replacement is expected to grow fast, but then decelerate as it reaches high penetration into the cervical fusion market.
8. Other companies, like Paradigm Spine, now have an interspinous process decompression device. This market is expected to return to mid, single-digit growth.
9. The majority of the traditional and minimally invasive spine device markets still belong to Medtronic and DePuy Synthes, although Globus Medical, NuVasive, K2M and LDR and chomping at the bit. Medtronic and DePuy Synthes are expected to maintain strong market shares.
10. There is still room for the smaller device companies to garner large shares of the market with more specialized focuses.