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Global spine surgery device market seeing double-digit growth: 5 key points Featured

Written by  Megan Wood | Tuesday, 25 August 2015 00:00
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Innovation, economics and clinical trends all contribute to the booming spine surgery device market, according to a MedMarket Diligence report, "Global Market for Medical Device Technologies in Spine Surgery, 2014-2021."

Here are five key points:

 

1. The global device market for cervical fusion, thoracolumbar implants, MIS spine fusion, interbody fusion and orthobiologics checks in at $9.7 billion.

 

2. Increased knowledge of spinal biomechanics, rise in spinal instrumentation devices, progress in bone fusion techniques, more anterior approaches to the spine and the development of minimally invasive methods and robotics have all contributed to the growing spine surgery device market over the last few decades.

 

3. Because of these advances, every segment of the spine can now be stabilized.

 

4. Spine fusion is leading the market as the fastest growing segment.

 

5. The Asia-Pacific and Central/Latin America areas are experiencing the fastest growth in spine surgery, with spine fusion growth in these areas in the double-digits.

 

"While this market may be dominated by the bigs — Medtronic, DePuy, Stryker, Zimmer-Biomet, et al. — there remains more than enough business in spine technology to attract a remarkably large number of mid-tier and smaller market participants," said Patrick Driscoll of MedMarket Diligence. "And there are ample participants who do not accept the status quo, by aggressively innovating and introducing clinical and economic improvement in spine surgery."

 

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Last modified on Tuesday, 25 August 2015 17:06
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