Here are seven key thoughts on the global orthopedic spine market from Market Research Reports.
1. There have been several technical advancements over the past 20 years, and this trend is expected to continue in the future to solve challenges and fill unmet needs in the marketplace.
2. New innovations are expected to focus on minimally invasive interventions and improved surgical tools to make complicated spine surgeries less complex.
3. The procedures in general are moving toward shorter recovery time, shorter length of stay, smaller scars, lower infection risk, less bleeding and shorter hospital stays.
4. The factors driving growth in the future include:
• Increasing demand for motion preservation
• Favorable dynamics
• Increasing implant use in surgeries
• New companies in the market each year.
5. Small companies entering the market will have innovative products to address various areas of the spine.
6. The United States is the largest geographic market for spinal fusions, which show clinical success among the appropriately-indicated patients. Spinal fusion is one of the most frequently performed procedures in the United States.
7. Big players like Medtornic, Johnson & Johnson and Stryker are losing market share to smaller players like NuVasive and Globus Medical, although they still have the lead. Greater product development, innovation and choice will change the competitive dynamics in the industry going forward.