In 2010, the United States was the largest market for spine surgery devices, representing 69 percent of the global market. The U.S. spinal devices market was valued at $4.6 billion in 2010 and could reach $9.2 billion by 2017 with the CAGR of 10 percent.
According to the report, growth will be driven by increased interest in minimally invasive spinal fusion procedures and the growing number of aging people around the world. Additional clinical trials showing positive outcomes for spine surgery and favorable reimbursement for non-fusion procedures could also contribute to this growth.
Among spine device companies, Medtronic dominated the market in 2010 with 34 percent of the market share, followed by DePuy and Synthes with 13 and 12 percent market share respectively. Medtronic’s success is due to its wide array of spinal products, including the Prestige Cervical Disc, CD Horizon Legacy Spinal System and X-Stop Spacer.
Related Articles on Spine Devices:
Synthes Quarterly Revenues Break $1B for the First Time, Thanks to International Markets
More Insurance Companies Now Reimburse for TranS1’s AxiaLIF
K2M Launches Two Lateral Spine Surgery Systems Globally
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.