8 key trends for the U.S. minimally invasive spine technology market

Written by Laura Dyrda | November 07, 2014 | Print  |

A new report from Decision Resources Group shows the minimally invasive spine technology market will grow over the next eight years.

Here are eight key trends from the report:


1. 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.


2. 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.


3. 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.


4. 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.


5. The reimbursement for spine will likely continue to be more aligned with open procedures, limiting minimally invasive procedure volume growth "somewhat."


6. 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.


7. 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."


8. 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."


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10 key concepts from LDR's 3Q financial report: Revenue jumps 32%
Amedica files IPO registration statement—5 things to know

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