MarketReportsOnline.com released a new report on the global spinal fusion market with analysis on the future.
Here are five predictions from the report:
1. The United States market will continue to have big growth opportunities. Although the United States spinal fusion market experienced a slow-down in 2012, there will likely be opportunities for continued growth and development in the future. There is a huge aging population and a growing number of interventions for younger patients who could continue contributing to society at a higher rate because of advanced back pain treatment.
Additionally, lifestyle changes among the aging population desire a higher level of activity, which could boost the demand for back pain treatment in the future. In 2020 the United States global spinal fusion market share is expected to dip to 63 percent, compared with 71 percent in 2013.
2. New technology such as artificial disc replacement, interspinous spacers and dynamic stabilization technologies are alternatives to the traditional spinal fusion. While spinal fusion has proven good outcomes for appropriately indicated patients in the literature, new technologies can reduce the risk of adjacent segment disease and allow patients more mobility with motion-sparing techniques.
3. More people will undergo complex spinal procedures because technology advancement allows surgeons to perform even big surgeries through less invasive techniques. In the past, patients with high comorbidities may not have been considered candidates for surgery with a big open procedure, but less invasive techniques result in less blood loss, shorter operative time, less anesthesia and less reported pain.
"It is expected that further innovations in minimally invasive surgeries coupled with other advancements will foster the growth in spine market as new and improved tools with enhanced features will make complicated spine surgeries easier to perform," according to the report. The global nonfusion spine market is expected to reach $1 billion by 2017 with a 19 percent growth rate in the United States over the next three years.
4. Regulatory risk will continue to plague the spinal fusion market. The FDA clearance process has become more rigorous and increased scrutiny from the federal government on the relationship between spine surgeons and device companies could place an extra roadblock between innovative surgeons and companies in the future. The high costs associated with spinal fusions are an additional challenge as the country moves toward lowering the cost of healthcare. Hospitals and physicians are now paying more attention to the cost of care, and downward pressure on pricing from payers could push down the price of standard implants in the future.
5. The top companies in the spinal fusion space — Medtronic, Johnson & Johnson, Stryker and Zimmer — my not be at the top in the future. These dominant players are losing market share to smaller players such as Globus Medical and NuVasive has become the fourth largest overall spine device company. Additionally, companies such as K2M and Amedica recently went public and are looking to carve out more space in the global market, both in the United States as well as developing countries around the world.
"Although the top companies still hold dominant positions, factors like greater product development, innovation and choice will change the competitive dynamics of the industry," according to the report.
More Articles on Spine Surgery:
30 Hospitals With New, Expanded Spine Services
The Cost of Spine Care: 5 Factors Surgeons Can Impact
Zyga Enrolls 1st Patient in SImmetry SI Joint Fusion Study