2014-04-01 00:31:01 - Global Spine Market Report: 2013 Edition - a new market research report on companiesandmarkets.com
The spine market is the largest segment within the global orthopedic market. There are four categories of spine disorders: degenerative conditions, deformities, tumor and trauma-based disorders. Spinal implants include both fusion and non-fusion devices: devices associated with vertebral compression fracture (VCF), interbody devices, cervical, thoracolumbar, and spinal stimulation devices.
The US is the largest market for spinal surgeries and is expected to achieve significant growth on the account of aging population, growing number of younger patients, changing lifestyles and product innovations. However, the spine market in the US has experienced slowdown in 2012 and continues to be plagued with factors like pricing pressures on manufacturers and slumping insurance coverage.
Introduction of motion preserving technologies like artificial disc replacement, interspinous spacers and
dynamic stabilization technologies in the recent past have provided surgeons with alternatives to fusion which has altered the face of spine market altogether. 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. However, regulatory risk faced by companies dealing in spine segment, lack of trained surgeons and increasing cost of surgeries continue to challenge the growth of spine market.
While Medtronic, Johnson and Johnson, Stryker and Zimmer remain the leading players over the years, they are continuously losing their market share to smaller players like NuVasive and Globus Medical illustrating a strong performance by these companies. Although the top companies still hold dominant positions but the factors like greater product development, innovation and choice will change the competitive dynamics in the industry.
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