A new report from MarketResearchReports shows interesting trends in the spine surgery industry going forward.
Here are 10 trends from the report:
1. Spine is the largest segment of the global orthopedic industry.
2. New innovation is expected in the minimally invasive spine surgery field and new surgical tools will make complicated surgeries easier.
3. The big advantages for minimally invasive surgery include:
• Shorter recovery time
• Shorter scar length
• Low infection risk
• Less bleeding
• Shorter hospital stays
4. Long term growth is expected because driving forces like the demand for motion preservation, favorable dynamics and the increased implant use in surgery will drive procedures.
5. The growing presence of new companies in the spine market every year shows opportunity lying there.
6. Smaller companies enter the spine device market with unique and innovative products addressing various issues in spine.
7. The United States is the largest geographic market for spinal fusion, as it has been for the past several years.
8. The leading companies in the field remain Medtronic, Johnson & Johnson and Stryker.
9. Smaller companies are taking market share from the giants. These companies include NuVasive, Globus Medical and LDR.
10. Greater product development, start-up company innovation and provider choice will change the competitive dynamics in the industry over the next few years.